An empirical study of payment technologies, the psychology of consumption, and spending behavior in a retailing context

Eric W.K. SEE-TO*, Eric W.T. NGAI

*Corresponding author for this work

Research output: Journal PublicationsJournal Article (refereed)peer-review

27 Citations (Scopus)


Our study investigates differences in spending behavior among consumers using three alternative payment technologies: cash, credit cards, and stored value contactless smart cards. We provide a deeper understanding of how different payment mechanisms directly impact consumer spending behavior in a retailing context, their influences on customers’ psychology of consumption, and perceptions of payment technologies. We show that the payment process can do so by significantly affecting the subjective awareness of spending only. In contrast, the source of money can affect perceived payment security only. Both perceived security and convenience have little effect on spending behavior.

Original languageEnglish
Pages (from-to)329-342
Number of pages14
JournalInformation and Management
Issue number3
Early online date23 Jul 2018
Publication statusPublished - Apr 2019


  • Pain of paying
  • Payment mechanism
  • Payment technology
  • Psychology of consumption
  • Spending behavior

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