Mobile payments for bottom of the pyramid: Towards a positive social change

Mobile payment systems are increasingly seen as the lifeline of an economy and recognized as a harbinger of financial inclusion for the bottom of the pyramid (BoP). The present study aims to examine key antecedents of continued intention to use mobile payments by the BoP segment, which has shown increased usage of mobile payments. Whether this trend will lead to continued usage of the same is a moot point. To explore this, we collected data from 387 BoP respondents (auto drivers, cab drivers, local food vendors, street vendors, and others) and analyzed the data using structural equation modeling (SEM). Following the attribute-consequence-value approach of mean end theory (ACVMET), an empirical model is employed to test the effect of perceived value and service quality on continuance intention. We also examine the influence of perceived risk as a moderator in the relationship. Findings suggest that service quality is influenced by attribute-based variables that impact perceived value and continuance intention. The significant moderating role of perceived risk is also confirmed. The implications of the study for mobile payment service providers have been discussed.