I won't touch money because it is dirty: examining customer's loyalty toward M-payment

Abstract

Purpose Several industries including banking are booming because of COVID-19. However, it is still unknown whether this growth is momentary or permanent in nature. Hence, this study aims to identify the role of health-related concerns and trust as stimuli on M-payment loyalty. Design/methodology/approach Data were collected through Google Forms from 431 participants. Subjects were M-payment users. The hypothesized model was tested using structural equational modeling. Findings Results of the study indicate that perceived severity and trust act as stimuli for M-payment loyalty. Further, trust not only influences loyalty directly but also through intimacy. Additionally, no linear relationship was found between perceived usefulness and M-payment loyalty. Originality/value This work is an early attempt to consider health-related concerns and trust as stimuli to predict M-payment loyalty. Further, this study focused on three new constructs, namely perceived severity, perceived susceptibility and intimacy, that are underexplored in digital banking literature.