Research On Influence Factors Of Consumers’ Loyalty Towards Third Party Mobile Payment

The reform and opening-up policy lead Chinese economy to a new level. With the development of high-speed economy, e-ecommerce technology and communication technology, the mobile Internet has become the world’s fastest growing industries with the largest market potential. It makes that the traditional payment methods can’t meet people’s daily need. Third party payments by its simple, convenient and fast have entered our daily life, and constantly affect us. As early as 2002, the third-party payment industry has started in our country. Compared with other countries, our third-party payment trade size is in the leading position.In our country, the mobile payment service providers offer a variety of choice of mobile payment platform. Alipay and Weixin wallet account for a larger proportion, and each has advantages. The mobile payments industry competition will be more intense in the near future. How can in the fierce competition environment to keep the user, maintain a degree of active users, and how to effectively develop and improve customer loyalty. Various third-party mobile payment platform service providers focus on these problems.Scholars from domestic and overseas have mature conclusion about theory of traditional customers’ loyalty. As the Internet developed faster and faster, they expand the theory into the e-commerce area. However, studies about third-party mobile payment are still deficient. This paper study factors affecting the loyalty of customers using third party mobile payment, and then will provide related policy suggestions.At the beginning of the study, this paper summarizes both domestic and foreign research results, analyses the definition and the current situation of the third-party mobile payment. In previous research of customer loyalty, researchers have proved that the user satisfaction, switching costs, security have a significant impact on customer loyalty, and the impact of emotional value factor on user loyalty is not significant. Combined with literature and the characteristics of third-party payment, this study constructs the third-party mobile payment user loyalty influencing factor research model and related hypothesis, proposed the 9 factors of influencing the third-party user loyalty.This study tested the model and hypotheses through empirical. The questionnaire is designed and the survey questions design reference the scale of the existing related research. The questionnaire mainly issued by network. By the end, the number of valid questionnaires is 209.After the data was collected, this paper carries out the one-way ANOVA, reliability and validity analysis and structural equation model validation. Through the one-way ANOVA, we find that there isn’t a significant difference between the using of different payment platform users. The reliability and validity analysis prove that the data can be used to conduct model test. Finally, the research model and hypotheses are tested by structural equation model validation.Analyzing the results, the following conclusion can be draw:1) The user loyalty model proposed in this study is applicable to third-party mobile payment users;2) The service quality and perceived value have positive influence on the satisfaction of third-party mobile payment users;3) Security has a positive impact on user satisfaction, user trust and customer loyalty;4) The third-party mobile payment user trust is affected by security, social value and satisfaction;5) Alternative product attractiveness has a negative impact on customer loyalty;6) The switching cost has a positive impact on customer loyalty.In this study, we also put forward the influence of the factors such as the alternative attractiveness and the user trust to the customer loyalty. Through the investigation it is proved that alternative attractiveness and the user trust both have significant effects on customer loyalty. The higher the attractiveness of alternative products, the lower the customer loyalty is. This is rarely mentioned in the previous research. I hope it will be useful to the next study.