Research On The Influence Of Mobile Payment On College Students' Hedonic Well-being And Impulsive Consumption

Introduction: Mobile shopping at any time and any place makes consumption more closely related to daily life.According to the Double-entry Mental Accounting Theory,researchers begin to understand the payment methods have impact on consumption in the pain of paying.Mobile payment is different from cash payment because of its payment process is quick,fluent,lower transparency of payment and even insensitive,which may lead to more hedonic well-being or/and hedonic impulsive consumption.Methods: In study 1: the two factors mix design,method of payment for the subjects between the variables(cash payment,mobile payment),consumption type for variables in subjects(experiential consumption,material consumption),through BDM tasks to test participants purchase intention and willingness to pay and hedonic well-being,to understand the different payment methods to pay transparency and pain of paying and experience consumption tendency,in order to explore the mobile payment impact on experiential consumption and hedonic well-being.In study 2,2 types of utilitarian and hedonic products are selected as experimental materials in real consumer electronic products for sale,among which college students have real demand preference for utilitarian products.20 participants were invited to both use cash payment and mobile payment to complete the dilemma of utilitarian goods vs.hedonic goods in SHOP tasks,combined with ERP technique,in this study paper investigates whether different payment methods affect product preference and purchase decision.Results: Study 1 Regression analysis shows that payment transparency and pain of paying can predict the willingness to pay and the willingness to buy for experiential consumption.The higher the payment transparency,the higher the willingness to pay and purchase experience consumption,while the higher the pain of paying,the lower the willingness to pay and experience consumption.As a situational variable,payment transparency,experiential consumption tendency,can predict the degree of hedonic well-being of experiential and material consumption.The higher the payment transparency and experiential consumption tendency,the higher the hedonic well-being.The better the economic level of the subjects' families,the higher their willingness to pay and purchase.Behavioral data of study 2 showed that the payment method affects consumers' purchase intention,and mobile payment improves consumers' purchase intention compared with cash payment.Compared with cash payment,consumers tend to buy more hedonic goods when using mobile payment,showing impulsive consumption.The two payment methods do not affect the purchase of utilitarian goods.The ERPs results of study 2 showed that: in the product presentation phase,Payment adjust the amplitude of N2,compared to cash payment,mobile payment pay has low pain of paying,promote the products to the whole process of preference and attention,lead to N2 amplitude of mobile payment was greater positive than cash,mobile payment promotes further driven by consumption needs of subjects,caused LPP amplitude of mobile payment for utilitarian goods was greater positive than mobile payment for hedonic goods;In the choice decision-making stage,the mobile payment for the promotion of LPP enhanced by having a choice tendency degree of subjects,LPP amplitude of choose hedonic product in mobile payment was greater positive than choose utilitarian product in mobile payment.At the same time,this enhancement is obvious in the left side of the brain,which area processes positive emotions.In this moment,consumers pay more attention to the hedonic experience in the purchase process,showing the impulsiveness of consumption.BNB's eeg analysis showed that N2 amplitude was affected by BNB,N2 might be related to pain in payment during consumption.Conclusions: Payment transparency predicts hedonic well-being.Compared with cash payment,mobile payment,due to the lack of payment pain,will increase consumers' purchase intention.When using mobile payment,consumers tend to buy more hedonic goods,showing impulsive consumption.N2 and LPP amplitude can be used as neurophysiological indicators of payment mode affecting impulsive consumption,and N2 is also related to payment pain during consumption.