Towards Understanding the Adoption and Social Experience of Digital Wallet Systems

Date
2019-01-08
Authors
Tang, Shiliang
Wu, Ziming
Zhang, Xinyi
Wang, Gang
Ma, Xiaojuan
Zheng, Haitao
Zhao, Ben
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For millions around the globe, digital wallets are replacing cash and credit cards. These services support user-to-user payments, and add a social component to transactions. However, there is little understanding of the key factors behind digital wallets’ rapid growth in US (Venmo) and China (WeChat Pay). What are the factors that led to their success? How social relationships play a role in their adoption? We conduct a mixed methods study, using a comprehensive survey (N=879) and semi-structured interviews (N=41) to explore the interplay of the two roles of these digital wallets, i.e., a payment system and a social platform. Our analysis suggests that the network effect does benefit their adoption and retention, but through different mechanisms. In return, transaction activities performed in digital wallets help strengthen existing social ties. We also present design implications for future social payment services.
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The Diffusion, Impacts, Adoption and Usage of ICTs upon Society, Internet and the Digital Economy, digital wallet, social experience, technology adoption
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10 pages
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Proceedings of the 52nd Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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