Researchers from the University of Puget Sound in Washington found that people who use mobile app payment methods are more likely to overspend.
“Excessive mobile payment spending may be related to the invisible nature of the transaction and the ease of user departure from the transaction,” said researchers led by Sun Young Ahn.
Mobile payment systems including Apple Pay, Google Pay and Samsung Pay have become popular worldwide, with 32 percent of all online purchases made through mobile wallets by 2020.
“Despite the benefits of using mobile payments, there is little research on how using mobile payments affects consumer behavior,” the researchers wrote in their study, published in Computer in Human Behavior.
In the study, which included 21,457 U.S. adults in the study that examined their spending behaviors, it was shown that 37 percent of participants reported using mobile payments in person or online, while 63 percent reported that they do not use mobile payments.
Participants who use mobile payments are 34 percent more likely to spend their annual income and 31 percent more likely to have difficulty paying bills and expenses than those who use other payment methods.
Source: Daily Mail
Source: Arabic RT
