1、外文翻译THEORETICALFOUNDATIONSINTHEPRICINGOFINTERMEDIATINGSERVICESTHECASEOFPAYMENTSVIAMOBILEPHONESMATERIALSOURCEUNIVERSITYOFEXETER,BUSINESSSCHOOL,UKAUTHORIRENECLNG,NICKKTYIPABSTRACTINTERMEDIATINGSERVICESARERELATIVELYNEWINRESEARCHTHISSTUDYEXPLORESHOWCONSUMERSMAYDETERMINETHEVALUEOFINTERMEDIATINGSERVICESAN
2、DTHEEXTENTONWILLINGNESSTOPAYWEINVESTIGATEAMOBILEPAYMENTTECHNOLOGYTHATINTERMEDIATESPAYMENTSFACILITATEDBYATELECOMMUNICATIONCOMPANYANDABANKWESHOWTHATADERIVEDEFFECTMAYPERSUADECONSUMERSTOPAYHIGHERFORTHEINTERMEDIATINGSERVICEWHENTHEITEMSPURCHASEDHAVEAHIGHERSURPLUSTOJUSTIFYTHECONSUMPTIONOFTHESERVICEOURSTUDY
3、ALSOSHOWSTHATMONEYHASPOLARITY,INTHATMONEYTHATISOWNEDBYTHEINDIVIDUALISVIEWEDDIFFERENTLYFROMMONEYNOTOWNEDKEYWORDSINTERMEDIATINGSERVICESPRICINGMOBILEPAYMENTSYSTEMS1INTRODUCTIONTHISARTICLEISASTUDYOFACOMPLEXINTERMEDIATINGSERVICEAMOBILEPAYMENTTECHNOLOGYANDTHEFACTORSTHATCOULDINFLUENCETHEPRICINGOFSUCHASERVI
4、CETHETECHNOLOGYINTERMEDIATESBETWEENAPAYERANDAPAYEEWHEREBYTHEPAYMENTS,WHETHERCOMMERCIALOROTHERWISE,AREFACILITATEDBYBOTHTHETELECOMMUNICATIONCOMPANYBYINITIATINGPAYMENTTHROUGHACELLPHONEANDTHEBANKBYTRANSFERRINGTHEFUNDSBETWEENTHEPAYERSACCOUNTANDPAYEESACCOUNTAFTERTHEINITIATIONTHEMOBILEPAYMENTSERVICEALLOWSC
5、USTOMERSTOPAYFORTHEIRPURCHASESUSINGTHEIRMOBILEPHONESTHEPHONESAREREGISTEREDWITHTHEIRBANKS,THEREBYENABLINGHIGHSECURITYTRANSFEROFFUNDSFROMTHEPAYERSBANKORCREDITCARDACCOUNTTOTHEPAYEESBANKACCOUNTBYWAYOFAFEWKEYPRESSESONTHEPHONETHISFORMOFPAYMENTDIFFERSFROMDEBITANDCREDITCARDSINSOFARASTHECOSTOFTHETRANSACTIONI
6、SBORNEPARTLYBYTHECUSTOMERMOREOVER,INSOMEPARTSOFSOUTHEASTASIA,DEBITCARDSARENOTCOMMONPAYMENTINSTRUMENTSANDTHISFORMOFMOBILEPAYMENTCANFUNCTIONASANALTERNATIVETHISSTUDYISIMPORTANTASITISUNCLEARHOWCONSUMERSVALUEINTERMEDIATINGSERVICESANDTOTHEBESTOFOURKNOWLEDGE,THISHASNOTBEENINVESTIGATEDBEFOREHENCE,THISSTUDYA
7、IMSTOBRINGSOMEINSIGHTSINTOTHEPHENOMENONBYCONDUCTINGANEXPLORATORYSTUDYOFACOMPLEXINTERMEDIATINGSERVICEAMOBILEPAYMENTTECHNOLOGYWITHTHEAIMOFDISCOVERINGITSTHEORETICALDOMAINSINOURSTUDY,THERESULTSSUGGESTTHATVARIABLES,INCLUDINGBUNDLINGCONSUMPTION,ADVANCEPURCHASEANDTHEPRIMARYPRODUCTPURCHASED,MAYHAVEANIMPACTO
8、NHOWCUSTOMERSWOULDVALUESUCHASERVICEFORINSTANCE,THEDATASHOWTHATADERIVEDEFFECTMAYPERSUADECONSUMERSTOPAYHIGHERFORTHEMOBILEPAYMENTSERVICEWHENTHEITEMSPURCHASEDHAVEAHIGHERSURPLUSTOJUSTIFYTHECONSUMPTIONOFTHESERVICETHEDATAALSOSHOWTHATCONSUMERSMAYCHOOSETOBUNDLELOSSESBYPAYINGONEBILLATTHEENDOFEACHMONTH,REGARDL
9、ESSOFTHENUMBEROFTRANSACTIONS,ALTHOUGHTHEECONOMICBENEFITMAYBELOWERTHANTOPAYACCORDINGTOTRANSACTIONSCONVERSELY,THESTUDYALSOFOUNDTHATCONSUMERSWHOPERCEIVEHIGHVALUATIONRISKMAYPREFERTOPAYPERTRANSACTIONASTHEYBUNDLELOSSESTHROUGHTHEPURCHASEOFAPRIMARYPRODUCTATATIMETHATISSUITABLETOTHEMFURTHERMORE,OURSTUDYSHOWED
10、THATMONEYHASPOLARITY,INTHATMONEYTHATISOWNEDBYTHEINDIVIDUALFOREXAMPLE,SAVINGS,CURRENTACCOUNTISVIEWEDDIFFERENTLYFROMMONEYNOTOWNEDCREDITCARDACCOUNTFINALLY,THEINVESTIGATIONSHOWEDTHATBANKSWHOOFTENCHARGECONSUMERSTHROUGHOPPORTUNITYCOSTSFOREXAMPLE,LOSSOFINTERESTEARNEDINSTEADOFSERVICEFEESWOULDFINDITHARDERTOC
11、HARGEFORMOBILEPAYMENTSERVICESASTHISWOULDCREATEAGREATERSENSEOFLOSSTHANNORMAL,ASCONSUMERSARELOSSAVERSETHALER,1999BARBERISANDHUANG,2001INTHENEXTSECTION,ALITERATUREREVIEWISPRESENTEDWITHSOMETHEORETICALBACKGROUNDONTHEPRICINGOFINTERMEDIATINGSERVICESTHISISTHENFOLLOWEDBYTHEFINDINGSANDDISCUSSIONBEFORETHECONCL
12、USION2LITERATUREREVIEWANDTHEORETICALBACKGROUNDSCIENTIFICWORKONTHEUSEOFITANDEBUSINESSINCOMPANIESTOGAINACOMPETITIVEADVANTAGESTARTEDINTHE1980SPARSONS,1983ROCKARTANDSCOTTMORTON,1984OVERTHEPASTTWODECADES,ELECTRONICSERVICESHAVEPROLIFERATEDASTECHNOLOGICALADVANCEMENTSALLOWFORMOREINNOVATIONSINDEED,WITHMOREIN
13、FORMATIONBEINGMADEAVAILABLEANDBETTERINFRASTRUCTUREINPLACE,ITISEXPECTEDTHATANEWGENERATIONOFELECTRONICINTERMEDIARIESWILLEMERGESARKARETAL,1995JANSSENANDSOL,2000THISISBECAUSEELECTRONICINTERMEDIATINGSERVICESAREABLETOLOWERTHECOSTOFTRANSACTIONSDUETOLOWERSEARCHBAKOS,1997,COORDINATIONMALONEETAL,1987ANDPAYMEN
14、TPROCESSINGCOSTSSIRBUANDTYGAR,1995PREVIOUSSTUDIESOFINTERMEDIATINGSERVICESOFTENEXAMINEDCUSTOMERSWILLINGNESSORINTENTIONTOADOPTNEWTECHNOLOGIES,EITHERTHROUGHTHETECHNOLOGYACCEPTANCE,ALSOKNOWNASTAMBASEDMODELSDAVISETAL,1989LEDERERETAL,2000VENKATESHETAL,2003,ORSTUDYINGTHEDIFFUSIONOFINNOVATIONTHROUGHPERCEIVE
15、DCHARACTERISTICSOFINNOVATINGPCIMODELSROGERS,1995CARTERANDBELANGER,2004STUDIESONTAMMODELSPRESENTUSAGEINTENTIONSANDBEHAVIORASAFUNCTIONOFPERCEIVEDUSEFULNESSANDPERCEIVEDEASEANDTHEYINCLUDESTUDIESONTHEROLEOFGENDERANDSOCIALINFLUENCEINTECHNOLOGYACCEPTANCEVENKATESHANDDAVIS,2000VENKATESHETAL,2003,THEWORLDWIDE
16、WEBLEDERERETAL,2000ANDTHEDETERMINANTSOFADOPTIONOFMULTIMEDIAMOBILESERVICESPAGANI,2004THEPCIMODEL,ONTHEOTHERHAND,EXPLAINSTHEDIFFUSIONOFANINNOVATIONTHATIS,THEPROCESSBYWHICHANINNOVATIONISCOMMUNICATEDTHROUGHCERTAINCHANNELSOVERTIMEAMONGTHEMEMBERSOFASOCIALSOCIETYROGERS,1995STUDIESINTHISAREAINCLUDETHEINFLUE
17、NCEOFPERCEIVEDCHARACTERISTICSOFINNOVATINGONEGOVERNMENTADOPTIONCARTERANDBELANGER,2004ANDTHEUSEOFSOCIALCOGNITIVETHEORYTOEVALUATETHEIMPACTOFTHEINDIVIDUALSAFFECTIVEANDBEHAVIORALREACTIONTOINFORMATIONTECHNOLOGYCOMPEAUETAL,199921BUNDLINGASMANYINTERMEDIATINGSERVICESFACILITATETHEPURCHASEOFANOTHERSERVICEORPRO
18、DUCT,THISWOULDMEANTHATTHEVALUEOFTHEINTERMEDIATINGSERVICEISALWAYSEMBEDDEDWITHINABUNDLEBUNDLINGISTHETACTICOFMARKETINGTWOORMOREGOODSAND/ORSERVICESASAPACKAGEATASPECIALPRICEGUILTINAN,1987THISPRACTICEISUBIQUITOUSINMARKETING,FROMTHESELLINGOFVACATIONPACKAGESTOCABLETVOPTIONSPUREBUNDLINGISTHEOFFEROFTWOORMORES
19、ERVICESATAPACKAGEPRICEBUTDOESNOTPROVIDETHEOPTIONOFPURCHASINGTHEINDIVIDUALSERVICESSEPARATELY,THATIS,INTHEIRUNBUNDLEDFORMHENCE,CUSTOMERSWHOWISHTOBUYASERVICEINDIVIDUALLYMAYNOTBESOINCLINEDTOPURCHASETHEBUNDLEDSERVICESFURTHERMORE,CUSTOMERSWHOHAVEALREADYHADTHEINTENTIONOFBUYINGTHEBUNDLEDSERVICESASINDIVIDUAL
20、SERVICESWILLNOWENJOYALOWERPRICE,ANDTHESERVICEFIRMWILLLOSETHEADDITIONALMARGINITWOULDHAVEEARNEDOTHERWISEVENKATESHANDMAHAJAN,1993STREMERSCHANDTELLIS,2002HOWEVER,EMPLOYINGMIXEDBUNDLINGCANCIRCUMVENTSOMEOFTHESELIMITATIONSMIXEDBUNDLINGPROVIDESTHECUSTOMERWITHTWOOPTIONS,THATISALLOWINGTHEMTOCHOOSEWHETHERTOPUR
21、CHASETHESERVICESINABUNDLEORINDIVIDUALLYSCHMALENSEE,1984PRICESOFSERVICESWHETHERSOLDINDIVIDUALLYORASABUNDLECANBESIMULTANEOUSLYOPTIMIZEDTHROUGHMIXEDBUNDLINGINSUCHAWAYTHATTHESERVICEFIRMSPROFITCANBEINCREASEDOVERANDABOVETHEEXPECTEDPROFITTHANIFTHESERVICESWERESOLDONAPURECOMPONENTBASISSCHMALENSEE,1984YADAVAN
22、DMONROE,1993ACADEMICLITERATUREPROPOSESTHATBUNDLINGCANPROVIDEBETTERSERVICEVALUE,REDUCEMARKETINGCOSTSNGETAL,1999,INCREASEDEMAND,REDUCEAFIRMSSELLINGRISKANDOBSCUREDISCOUNTSGUILTINAN,1987YET,DESPITEEXTENSIVELITERATUREONBUNDLING,SUCHSTUDIESIMPLICITLYASSUMETHATTHECONSUMERISCERTAINOFTHEVALUEATTACHEDTOTHEPRO
23、DUCTORTHEBUNDLEWITHASERVICETHATISALWAYSON,ORINWHICHTHEREISASEPARATIONBETWEENPURCHASEANDCONSUMPTION,SUCHTHATCONSUMERVALUATIONOFTHESERVICEISUNCERTAIN,THEPRICINGISSUESINTHEBUNDLINGOFSUCHASERVICEWITHOTHERSERVICESORGOODSPURCHASEDAREUNCLEARFURTHERMORE,ANINTERMEDIATINGSERVICEWOULDREQUIRECONSUMERSTOBUYPARTO
24、FTHEBUNDLEINADVANCE,WHICHISTHESERVICEITSELF,WHILECONSUMINGTHESERVICEWHENPURCHASINGTHEOTHERPARTOFTHEBUNDLE,FOREXAMPLESUBSCRIBINGTOTHEINTERNETADVANCEDPURCHASEANDBUYINGGROCERIES,RESULTINGINTHENEEDTOUNDERSTANDPRICINGWITHINSUCHASCENARIO22PROSPECTTHEORYPRODUCTSARESOLDINABUNDLETHEPERCEIVEDSAVINGSMAYBEVIEWE
25、DDIFFERENTLYFROMAPROSPECTTHEORYPERSPECTIVEYADAVANDMONROE,1993PROSPECTTHEORYKAHNEMANANDTVERSKY,1979HOLDSTHATTHEREARERECURRINGBIASESDRIVENBYPSYCHOLOGICALFACTORSTHATINFLUENCEPEOPLESCHOICESUNDERUNCERTAINTYINPARTICULAR,ITASSUMESTHATPEOPLEAREMOREMOTIVATEDBYLOSSESTHANBYGAINSANDASARESULT,THEYWILLDEVOTEMOREE
26、NERGYTOAVOIDINGLOSSTHANTOACHIEVINGGAINTHALER,1999THALER1999ALSOEXAMINEDTHEENDOWMENTEFFECTWITHINSPECIFICCASESTUDIES,THROUGHWHICHHEOBSERVESTHATCONSUMERSOFTENFAILTOBEHAVEINACCORDANCEWITHTHENORMATIVEPRESCRIPTIONSOFECONOMICTHEORY,INSTEADRESPONDINGMORETOPERCEIVEDCHANGESTHANABSOLUTELEVELSTHETWOBEHAVIORALPR
27、INCIPLESOFLOSSAVERSIONANDMENTALACCOUNTINGWEREINTRODUCEDTOPROSPECTTHEORYLOSSAVERSIONIMPLIESTHATWHENALOSSANDAGAINHAVETHESAMEMONETARYVALUE,THEMOTIVATIONTOAVOIDLOSSISSTRONGERTHANTHEMOTIVATIONTOAPPROACHTHEGAINTHALERETAL,1997,WHILEMENTALACCOUNTINGISTHESETOFCOGNITIVEOPERATIONSUSEDBYINDIVIDUALSANDHOUSEHOLDS
28、TOORGANIZE,EVALUATE,ANDKEEPTRACKOFFINANCIALACTIVITIESSOFAR,ACADEMICSDRAWINGONPROSPECTTHEORYHAVEONLYINVESTIGATEDCOMPARATIVELYSTRAIGHTFORWARDPRODUCTOFFERINGSSUCHASPROMOTIONALDISCOUNTSTHEQUESTION,THEN,ISTHEEXTENTTOWHICHPROSPECTTHEORYCANILLUMINATETHECONTEXTANDDECISIONMAKINGPROCESSOFCONSUMERSWHENTHEPRODU
29、CTSORSERVICESAREBUNDLED,ORWHENASERVICEISDETACHEDINTERMSOFPURCHASEANDCONSUMPTIONGIVENTHEISSUESRAISEDABOVE,ITISCLEARTHATTHENATUREOFPRICINGINTERMEDIATINGSERVICESWOULDBECOMPLEXTHEREFORE,THEPRESENTSTUDYWASINITIATEDBYAWORLDLEADINGMOBILEPAYMENTORGANIZATIONBASEDINSOUTHAFRICAWITHTHEOBJECTIVEOFENTERINGTHEMALA
30、YSIANMARKETTHROUGHTHEADOPTIONOFITSTECHNOLOGYBYEITHERAMOBILETELECOMMUNICATIONCOMPANYORABANKTHEFIRMSMOBILEPAYMENTSYSTEMWASCONCEIVEDINEARLY1999ASANEXPERIMENTALPROJECTINCAPETOWN,SOUTHAFRICA,WHEREITPROVIDEDSECURETRANSACTIONALCAPABILITIESONMOBILEHANDSETS,THEINTERNETANDOTHERGSMENABLEDDEVICESITSTECHNOLOGYIN
31、TERMEDIATESPAYMENTBETWEENAPAYERANDAPAYEE,WITHPAYMENTSFACILITATEDBYBOTHTHETELECOMMUNICATIONCOMPANYBYINITIATINGPAYMENTTHROUGHACELLPHONEANDABANKBYTRANSFERRINGTHEFUNDSBETWEENTHEPAYERSACCOUNTANDPAYEESACCOUNTAFTERTHEINITIATIONTHISMOBILEPAYMENTSERVICEALLOWSCUSTOMERSTOPAYFORTHEIRPURCHASESUSINGTHEIRMOBILEPHO
32、NES,WHICHISREGISTEREDWITHTHEIRBANKS,THEREBYENABLINGAHIGHSECURITYTRANSFEROFFUNDSFROMTHEPAYERSBANKORCREDITCARDACCOUNTTOTHEPAYEESBANKACCOUNTBYWAYOFAFEWKEYPRESSESONTHEPHONETHESYSTEMWASIDEALFORTHISSTUDYASITENCOMPASSEDTHEVARIOUSPRICINGISSUESLAIDOUTINTHELITERATUREREVIEWFIRST,THESERVICEISONETHATISCONSUMEDIN
33、ABUNDLEASITISAFACILITATOROFPAYMENTSFROMABANKACCOUNTUSINGMOBILETELECOMMUNICATIONTECHNOLOGYHENCE,ITISUNCLEARHOWCONSUMERSWILLVALUEITSECOND,THEPURCHASEOFTHEMOBILEPAYMENTSERVICEISOFTENINADVANCE,WHEREASITSCONSUMPTIONTIMEISINTHEFUTUREANDISUNCERTAINFINALLY,THEVALUEOFTHEMOBILEPAYMENTSERVICEWOULDALSOBEDERIVED
34、FROMTHEPRIMARYPRODUCTPURCHASEDHENCETHEFRAMINGOFPRICESISIMPORTANTTHEMOBILEPAYMENTSERVICECOULDBECHARGEDTOTHEENDUSERTHROUGHASUBSCRIPTIONFEE,APERTRANSACTIONFEEORPERCENTAGE,ORACOMBINATIONOFBOTHTHESTUDYWASALSOCONDUCTEDINMALAYSIA,ACOUNTRYWHERETHEREISNONATIONWIDENETWORKFORPURCHASETHROUGHDEBITORATMCARDSTHISM
35、EANTTHATAMOBILEPAYMENTSYSTEMCOULDPOTENTIALLYHAVEAHIGHTAKEUPRATEBECAUSETHEMOBILEPHONEFUNCTIONSASBOTHACREDITANDADEBITCARDDEPENDINGONTHEACCOUNTSTOWHICHCONSUMERSLINKTHEIRPHONECONSEQUENTLY,THISSTUDYAIMSTOBRINGSOMEINSIGHTSINTOTHEPHENOMENONBYCONDUCTINGANEXPLORATORYSTUDYOFACOMPLEXINTERMEDIATINGSERVICEAMOBIL
36、EPAYMENTTECHNOLOGYWITHTHEAIMOFDISCOVERINGTHEORETICALCONSTRUCTSTHATMIGHTARISEFROMTHETHREETHEORIES,WHICHINTURNCOULDHAVEANIMPACTONTHEPRICINGOFINTERMEDIATINGSERVICES3FINDINGSFROMOURQUANTITATIVESURVEYTHEREWASNOCLEARPREFERENCEINTERMSOFPRICINGOPTIONS,SUGGESTINGTHATTHEREWASMORETHATREQUIREDINVESTIGATIONHENCE
37、,DATARECEIVEDFROMOURQUALITATIVESTUDYOFINDEPTHINTERVIEWSWITHCONSUMERSWASDRAWNUPONWEFOUNDTHROUGHTHEQUALITATIVEDATA,FIVEIMPORTANTASPECTSINRELATIONTOTHEINTERVIEWEESPERCEPTIONOFUSINGTHEINTERMEDIATINGSERVICESTHERESULTSAREPRESENTEDBELOW1THECOREVALUEOFTHESERVICENOTSURPRISINGLY,THEINVESTIGATIONFOUNDTHATTHECO
38、REVALUEOFTHEFIRMSMOBILEPAYMENTSERVICEWASCONVENIENCEONEPARTICIPANTSAIDTHATIFHEWASBUYINGACOMPUTERANDHEDIDNOTHAVETHECASHONHIM,BEINGABLETOPAYUSINGTHEMOBILEPAYMENTSERVICEWOULDBEHIGHLYVALUEDREDUCINGTHENEEDTOCARRYCASHWHILEHAVINGAFATWALLETWASCONSIDEREDVALUABLETOCUSTOMERSASHAVINGTHISSERVICENOTONLYSAVEDTHEMTI
39、MEANDEFFORT,BUTALSOREPRESENTEDINCREASEDSECURITY2THEMODERATINGROLEOFPRIMARYPRODUCTTHEAMOUNTCHARGEDFORTHESERVICEWASCLEARLYIMPORTANTNOTSURPRISINGLY,IFITWASAFIXEDCHARGEFOREXAMPLE,US1OR050,THISAMOUNTWOULDBECONSIDEREDHIGHWHENTHESERVICEISUSEDTOPAYA1PARKINGFEEASOPPOSEDTOPAYINGFORA200TELEVISIONSETINADDITION,
40、THEFINDINGSSUGGESTEDTHATWHENAPERTRANSACTIONFEEORPERCENTAGEWASCHARGED,THEMOBILEPAYMENTSERVICEWASVIEWEDASPARTOFABUNDLEWITHPURCHASE3SOURCEOFFUNDSTHEFINDINGSALSOSUGGESTEDTHATTHEREWASADIFFERENCEINWILLINGNESSTOPAYACCORDINGTOTHESOURCEOFTHEMONEYIFTHEMOBILEPAYMENTACCOUNTWASLINKEDTOASAVINGSORACURRENTACCOUNT,T
41、HECUSTOMERSEEMEDLESSWILLINGTOSPENDTHANIFTHEMOBILEPAYMENTACCOUNTWASLINKEDTOACREDITCARDACCOUNTONEPARTICIPANTSTATEDILIKETOHANGONTOMYSAVINGSANDILIKETOHANGONTOMYCASHANDTHEREFOREWASMOREWILLINGTOUSEAMOBILEPAYMENTSERVICEWHENTHESERVICEWASLINKEDTOHERCREDITCARDACCOUNTINCONTRAST,SOMEOTHERPARTICIPANTSWEREMOREWIL
42、LINGTOUSETHEMOBILEPAYMENTSERVICEWHENTHESERVICEWASLINKEDTOTHEIRSAVINGSORCURRENTACCOUNTTHEYDESCRIBEDTHEIRREASONSASIDONTWANTTOFEELLIKEIMOWINGANYTHINGANDIDONTWANTTOGIVEINTOTEMPTATIONSOMETIMESIGETASHOCKHOWMUCHIHAVESPENTONMYCREDITCARDTHESTUDYFOUNDTHATIFTHEMOBILEPAYMENTSERVICEWASCHARGEDBYTHETELECOMMUNICATI
43、ONCOMPANY,SOMEPARTICIPANTSONPREPAIDPAYASYOUGOSERVICEWERELESSWILLINGTOPAYFORTHESERVICEONAPERTRANSACTIONBASIS,STATINGTHATIHAVEABUDGETFORHANDPHONECOSTSAMONTHANDIDONTWANTMYSHOPPINGTOADDTOTHATOURRESULTSFOUNDTHATPREPAIDPARTICIPANTSWEREMOREWILLINGTOPAYBASEDONSUBSCRIPTIONTHANONAPERTRANSACTIONBASISCONVERSELY
44、,POSTPAIDMONTHLYSUBSCRIPTIONCONTRACTCUSTOMERSWEREWILLINGTOPAYMOREFORTHESERVICE,ALTHOUGHTHEYALSOSHOWEDAPREFERENCEFORSUBSCRIPTIONTOPERTRANSACTIONCHARGESTHESEFINDINGSAREREFLECTIVEOFEARLIERSTUDIESONTARIFFCHOICEBIASESLAMBRECHTANDSKIERA,20064SOURCEOFSERVICETHEFINDINGSALSOSHOWEDTHATTHEWILLINGNESSOFCUSTOMER
45、STOPAYFORTHESERVICEDEPENDEDONWHOWASCHARGINGFORTHESERVICEACHARGEBYTHETELECOMMUNICATIONCOMPANYWASSEENASAMOBILEPAYMENTSERVICE,WHEREASACHARGEBYTHEBANKWOULDBEABANKINGSERVICETHESTUDYFOUNDTHATPARTICIPANTSWEREMOREWILLINGTOPAYFORTHESERVICEIFCHARGEDBYTHEFORMERTHANBYTHELATTERASONEPARTICIPANTSTATEDIDONTTHINKILI
46、KETOSEEDEDUCTIONSINMYBANKSTATEMENTIMEAN,THATSMYSAVINGSIJUSTDONTWANTTOSEEDEDUCTIONSINTHEREWHENASKEDIFITWOULDBETHESAMEIFTHETRANSACTIONCHARGEISONTHECREDITCARDSTATEMENT,THEPARTICIPANTREPLIEDNOTREALLYIMEAN,WHENIBUYSOMETHINGWITHMYVISACARD,YOUDONTSEEATRANSACTIONCHARGEINTHERENO,IWOULDNTLIKETOBEBILLEDLIKETHA
47、TANDYES,ITWOULDREDUCEMYUSE,ATLEASTITHINKITWOULDASTHEINTERVIEWWENTON,ITBECAMECLEARTHATITWASFARMOREACCEPTABLETOBEBILLEDBYTHETELECOMMUNICATIONCOMPANY,ITSLIKECALLERIDENTIFICATION,ORCALLFORWARDINGTHEYCHARGEMEFORTHOSESOIGUESS,THEYLLALSOCHARGEMEFORHAVINGAMOBILEPAYMENTSERVICEITSEASYTOOPTOUTOFITIFIWANTTO5SEP
48、ARATIONOFPURCHASEANDCONSUMPTIONINTERVIEWSWITHPOTENTIALCUSTOMERSSHOWEDTHATSOMECUSTOMERSWEREMOREWILLINGTOPAYONASUBSCRIPTIONBASISINSTEADOFONPERTRANSACTION,EVENIFTHETOTALAMOUNTOFTRANSACTIONFEEPAIDRESULTEDINALOWERTOTALPRICETHANASUBSCRIPTIONFEEASONEPARTICIPANTSAID,IPAYITONCEANDILLALWAYSHAVEITDOESNTMATTERH
49、OWMANYTRANSACTIONS,IKNOWITMIGHTBELESS,BUTITCOULDBEMORE,COULDNTITONCEIPAYIT,IDONTHAVETOTHINKABOUTHOWMUCHMOREORLESSISHOULDBEUSING,IDONTHAVETOCAREOTHERPARTICIPANTSSHOWEDTHEOPPOSITEINCLINATIONOFCOURSEIWOULDGOONPERTRANSACTIONIFTHEAMOUNTIPAYISLESSTHANSUBSCRIPTIONITDOESNTMAKESENSEOTHERWISE,RIGHTINFACT,EVENIFITMIGHTBEHIGHER,IDSTILLPREFERTOGOONPERTRANSACTIONATLEAST,IMPAYINGWHENIMUSINGITANDNOTPAYINGFORITWHENIMNOT4DISCUSSIONTHESTUDYSHOWSTHATAMOBILEPAYMENTSERVICEHASACOREVALUEOFCONVENIENCETOCONSUMERSASITENABLESTHEMTOSAVET
