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A Survey to Assess Changes in Payment Transaction via Mobile Phone Behavior During the COVID-19 Pandemic

Author

Listed:
  • Muanglen, Jintana

    (Ramkhamhaeng University)

  • Durongkaveroj, Wannaphong

    (Ramkhamhaeng University)

Abstract

The outbreak of the COVID-19 pandemic has affected every sector of society. Consumer payment behavior is no exception. The purpose of this study is to estimate the causal impacts of the COVID-19 pandemic on mobile paymentbehaviors and to examine factorsunderpinning such impacts. The behaviors of interest include the volume and the value of mobile payment transactions, the volume of QR code mobile payment transactions, the volume of PromptPay transactions, and the variety of mobile payment methods. The analysis is based on asurvey, which is designed to recover counterfactual outcomes, of 503 people living in Bangkok between July and August 2021. The findings suggest that the COVID-19 pandemic has significantly increased all types of mobilepayment transactions. The results from the logit model indicate that such changes in each mobile payment behavior are determined by different factors. The findings reflect the need to use different strategies to increase mobile payment usage to maximize the efficiency of the electronic payment system in Thailand and to help accelerate the transition to a cashless society.

Suggested Citation

  • Muanglen, Jintana & Durongkaveroj, Wannaphong, 2023. "A Survey to Assess Changes in Payment Transaction via Mobile Phone Behavior During the COVID-19 Pandemic," Asian Journal of Applied Economics/ Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 30(1), pages 97-118, June.
    • Handle: RePEc:ris:apecjn:0082
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    More about this item

    Keywords

    COVID-19 pandemic; mobile payment; online transaction;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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