Payment preferences of hawkers in Singapore : a discrete choice experiment
In this study, we aim to identify the underlying factors that affects the slow adoption of mobile payment in hawkers as compared to other industries. Using a discrete choice experiment to elicit willingness to pay, this study examined hawkers’ preference in payment methods by measuring the two ma...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
Nanyang Technological University
2021
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10356/148399 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | In this study, we aim to identify the underlying factors that affects the slow adoption of mobile
payment in hawkers as compared to other industries. Using a discrete choice experiment to elicit
willingness to pay, this study examined hawkers’ preference in payment methods by measuring the
two main attributes – usage of smartphone and risk of fraud. Individual characteristics, business
characteristics and knowledge, attitude, and practice (KAP) questions were also interacted with the
main attributes to explore their impact on utility. Our results show that stallholders exhibit disutility
and must be compensated $72.51 to use smartphone in their business operations. The main deterrent
for adoption of mobile payment is the exposure to possibility of fraud. Stallholders have a linear WTP
function with respect to the probability of fraud and must be compensated $149.24 for 3% risk of
fraud relative to 2%. There is also a significant relationship between the location of the stall as well
as stallholder’s preference of mobile payment. These results have important policy implications and
will provide policymakers a holistic view of the general acceptance of mobile payment in the hawker
business. |
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