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Enhancing user experience in digital payments: A hybrid approach using SEM and neural networks

Author

Listed:
  • Ma, Chao
  • Wu, Jingyi
  • Sun, Heyuan
  • Zhou, Xin
  • Sun, Xiyan

Abstract

This article proposes a hybrid approach utilizing Structural Equation Modeling (SEM) and Artificial Neural Network (ANN) techniques to predict and enhance user experience (UX) in digital payments. The study introduces a novel Technology Acceptance Model to predict the critical factors influencing users' adoption of digital currencies and subsequently improve their experience. The research findings reveal that perceived ease of use and perceived usefulness significantly influence attitudes towards adopting digital currencies. Furthermore, the accuracy of the SEM results is confirmed through the implementation of the Artificial Neural Network. These conclusions hold significant implications for the future promotion of digital currencies.

Suggested Citation

  • Ma, Chao & Wu, Jingyi & Sun, Heyuan & Zhou, Xin & Sun, Xiyan, 2023. "Enhancing user experience in digital payments: A hybrid approach using SEM and neural networks," Finance Research Letters, Elsevier, vol. 58(PB).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323007481
    DOI: 10.1016/j.frl.2023.104376
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    References listed on IDEAS

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    1. Paul Klemperer, 1987. "Markets with Consumer Switching Costs," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(2), pages 375-394.
    2. Ioanna Roussou & Emmanouil Stiakakis & Angelo Sifaleras, 2019. "An empirical study on the commercial adoption of digital currencies," Information Systems and e-Business Management, Springer, vol. 17(2), pages 223-259, December.
    3. Chanchai Phonthanukitithaworn & Carmine Sellitto & Michelle W. L. Fong, 2016. "A Comparative Study of Current and Potential Users of Mobile Payment Services," SAGE Open, , vol. 6(4), pages 21582440166, November.
    4. Klemperer, Paul D, 1987. "Entry Deterrence in Markets with Consumer Switching Costs," Economic Journal, Royal Economic Society, vol. 97(388a), pages 99-117, Supplemen.
    5. Balapour, Ali & Nikkhah, Hamid Reza & Sabherwal, Rajiv, 2020. "Mobile application security: Role of perceived privacy as the predictor of security perceptions," International Journal of Information Management, Elsevier, vol. 52(C).
    6. Bo Qu & Li Wei & Yujia Zhang, 2022. "Factors affecting consumer acceptance of electronic cash in China: an empirical study," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-19, December.
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    Cited by:

    1. An, Ling & Wang, Yaohua & Yan, Yan & Ma, Chao, 2024. "The role of emotional factors in the acceptance of digital currency: An extended study of a technology acceptance model," Finance Research Letters, Elsevier, vol. 62(PA).
    2. Xiyan Sun & Pei Yuan & Fengge Yao & Zenan Qin & Sijia Yang & Xiaomei Wang, 2025. "RETRACTED ARTICLE: Financial Fragility in Emerging Markets: Examining the Innovative Applications of Machine Learning Design Methods," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(2), pages 5862-5883, June.
    3. Wu, Jiaqi & Liu, Xin & Zhang, Chenghu, 2024. "Unveiling the influencing mechanism underlying users’ adoption and recommend intentions of central bank digital currency: A behavioral reasoning theory perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 81(C).
    4. Liu, Xin & Wu, Jiaqi & Zhang, Chenghu, 2025. "Antecedents of consumers' acceptance of central bank digital currency: The role of technology perceptions, social influence and personal traits," Technological Forecasting and Social Change, Elsevier, vol. 217(C).
    5. Zeng, Linshan & Young, Martin R. & Hao, Wei, 2025. "Currency digitalization: The supply, demand, and infrastructure aspects of china's central bank digital currency," Finance Research Letters, Elsevier, vol. 85(PB).
    6. Huizheng Liu & Muhammad Afaq Haider Jafri & Shuo Xu & Muhammad Farrukh Shahzad, 2025. "The impact of artificial intelligence on consumers’ willingness to use CBDCs: evidence from the Chinese banking sector," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-16, December.
    7. Xiaoxiao Gong & Yang Zhang & Menghan Wang & Xuetao Jiang, 2025. "Understanding Individuals’ Adoption of Digital Currency Electronic Payment in China: A Dual-Stage Analysis of PLS-SEM and BPNN," SAGE Open, , vol. 15(3), pages 21582440251, August.

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