How Does Mobile Payment Convenience Affect Spending Behaviour?

Background

Mobile payment systems like Google Pay, Paytm wallets and others have revolutionized the way we conduct transactions. These systems allow users to make quick and effortless payments using their smartphones, eliminating the need to carry cash or physical cards. This project examines how convenience of mobile payments has altered the spending behaviour of consumers. Does the convenience of mobile payment systems lead to increased spending? Does the use of mobile payments affect user’s awareness and control over their spending? Are there significant differences in spending behaviour between users of mobile payment systems and those who use traditional payment methods such as cash or debit/credit cards?

Learning Outcome (LO)

  • LO #1: Understand how payment methods impact consumer psychology. 
  • LO #2: Conduct surveys or case studies to compare spending patterns with and without mobile payment options. 
  • LO #3: Discuss how businesses can optimize their payment systems to increase revenue. 

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