Contact or Contactless Payment: Impact of COVID-19 Pandemic on Consumer Decision Making in Money Domain

Yu Li, Sang-June Park, Hao Li and Sungchul Choi

SAGE Open, 2024, vol. 14, issue 1, 21582440241239422

Abstract: The COVID-19 pandemic has significantly altered consumer behavior. The significant influence of COVID-19 pandemic on consumption has been documented in an increasing amount of literature; however, limited focus has been placed on how consumer spending decisions differ depending on whether they employ contactless or contact payment methods under COVID-19 and normal conditions. The results of this study, which used a laboratory experiment carried out in the northern part of China, demonstrate that: (1) consumers’ intentions to spend more money when using contactless payments than when they use contact payments; (2) disgust and negative contamination act as mediating factors on the relationship between the degree of contact and consumer spending intention; and (3) COVID-19 moderates this mediating effect. This study concludes by discussing its theoretical contributions and managerial implications, alongside limitations and future research directions.

Keywords: contactless payment; Spending intention; disgust; negative contamination; COVID-19 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:14:y:2024:i:1:p:21582440241239422

DOI: 10.1177/21582440241239422

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