What determines customers' continuance intention of FinTech? Evidence from YuEbao

The purpose of this paper is to investigate the effects of trust in service and structural assurance on the continuance intention of FinTech services, and the roles of technical factors (i.e. situational normality and system quality) and social factors (i.e. herding and subjective norm) in developing trust in service and structural assurance. YuEbao is selected as the subject as it is a representative example of FinTech services in China.,A survey questionnaire was deployed and a ten-point sliding scale with two-decimal points was applied to improve the accuracy of the questionnaire. Partial least squares structural equation modeling was used to analyze the data.,Trust in service and structural assurance can encourage continuance intention of FinTech service. System quality, situational normality and subjective norm can boost the development of trust in service. Both herding and subjective norm can affect structural assurance significantly.,The study highlights the important roles played by technical factors (i.e. situational normality and system quality) and social factors (i.e. herding and subjective norm) in developing the two levels of trust (i.e. trust in service and structural assurance). It also validates the influences of trust in service and structural assurance on encouraging customers’ continuance intention in the novel context of FinTech.,The findings of this study can be used by practitioners to encourage customers to continue using their FinTech services. To encourage continuance, service providers can improve the quality of their system, design the system to be aligned with customers’ using habits and show customers that their close friends are also using the service.,This study adds to the existing body of trust literature by investigating the direct effects of trust in service and structure assurance on continuance intention and how these two levels of trust are developed from technical and social aspects. It generates interesting insights into customers’ continuance behavior of FinTech services.

[1]  J. H. Davis,et al.  An Integrative Model Of Organizational Trust , 1995 .

[2]  Sang-Chul Lee,et al.  Determinants of behavioral intention to mobile banking , 2009, Expert Syst. Appl..

[3]  H. Rao,et al.  Fool's Gold: Social Proof in the Initiation and Abandonment of Coverage by Wall Street Analysts , 2001 .

[4]  Kai H. Lim,et al.  Trust, Satisfaction, and Online Repurchase Intention: The Moderating Role of Perceived Effectiveness of E-Commerce Institutional Mechanisms , 2014, MIS Q..

[5]  Lopo L. Rego,et al.  What makes commercial Web pages popular , 1998 .

[6]  Sung-joon Yoon,et al.  Does social capital affect SNS usage? A look at the roles of subjective well-being and social identity , 2014, Comput. Hum. Behav..

[7]  David F. Larcker,et al.  Structural Equation Models with Unobservable Variables and Measurement Error: Algebra and Statistics: , 1981 .

[8]  Qian Huang,et al.  Understanding buyers' loyalty to a C2C platform: the roles of social capital, satisfaction and perceived effectiveness of e‐commerce institutional mechanisms , 2017, Inf. Syst. J..

[9]  Ilyoo B. Hong,et al.  The mediating role of consumer trust in an online merchant in predicting purchase intention , 2013, Int. J. Inf. Manag..

[10]  R. Gurrea,et al.  The role played by perceived usability, satisfaction and consumer trust on website loyalty , 2006, Inf. Manag..

[11]  Paul A. Pavlou,et al.  Institution-Based Trust in Interorganizational Exchange Relationships: The Role of Online B2B Marketplaces on Trust Formation , 2002, J. Strateg. Inf. Syst..

[12]  Heshan Sun,et al.  A Longitudinal Study of Herd Behavior in the Adoption and Continued Use of Technology , 2013, MIS Q..

[13]  Yulin Fang,et al.  Understanding online customer repurchasing intention and the mediating role of trust – an empirical investigation in two developed countries , 2009, Eur. J. Inf. Syst..

[14]  R. E. Burnkrant,et al.  Informational and Normative Social Influence in Buyer Behavior , 1975 .

[15]  Enrique Bonsón,et al.  Influence of trust and perceived value on the intention to purchase travel online: Integrating the effects of assurance on trust antecedents , 2015 .

[16]  D. Gefen,et al.  Consumer trust in B2C e-Commerce and the importance of social presence: experiments in e-Products and e-Services , 2004 .

[17]  Anol Bhattacherjee,et al.  Understanding Post-Adoption Behavior in the Context of Online Services , 1998, Inf. Syst. Res..

[18]  Detmar W. Straub,et al.  Trust and TAM in Online Shopping: An Integrated Model , 2003, MIS Q..

[19]  Sirkka L. Jarvenpaa,et al.  Consumer trust in an Internet store , 2000, Inf. Technol. Manag..

[20]  Weiguo Fan,et al.  Social Presence, Trust, and Social Commerce Purchase Intention: an Empirical Research , 2016, PACIS.

[21]  Cliff Lampe,et al.  The ties that bind: Social network principles in online communities , 2009, Decis. Support Syst..

[22]  Wei Sha,et al.  Types of structural assurance and their relationships with trusting intentions in business-to-consumer e-commerce , 2009, Electron. Mark..

[23]  Viswanath Venkatesh,et al.  Why Don't Men Ever Stop to Ask for Directions? Gender, Social Influence, and Their Role in Technology Acceptance and Usage Behavior , 2000, MIS Q..

[24]  Sara F. Jahanmir,et al.  The late adopter scale: A measure of late adopters of technological innovations , 2016 .

[25]  Paul A. Pavlou,et al.  Understanding and Predicting Electronic Commerce Adoption: An Extension of the Theory of Planned Behavior , 2006, MIS Q..

[26]  Brian R. Kovar,et al.  Consumer Responses to the CPA WEBTRUST™ Assurance , 2000, J. Inf. Syst..

[27]  Inessa Love,et al.  The Real Impact of Improved Access to Finance: Evidence from Mexico , 2012 .

[28]  Jiaying Shen,et al.  Repurchase intention in the Chinese e-marketplace: Roles of interactivity, trust and perceived effectiveness of e-commerce institutional mechanisms , 2016, Ind. Manag. Data Syst..

[29]  Ephraim R. McLean,et al.  The DeLone and McLean Model of Information Systems Success: A Ten-Year Update , 2003, J. Manag. Inf. Syst..

[30]  Hyun-Sun Ryu,et al.  What makes users willing or hesitant to use Fintech?: the moderating effect of user type , 2018, Ind. Manag. Data Syst..

[31]  Siti Norezam Othman,et al.  The impact of students' attitude and subjective norm on the behavioural intention to use services of banking system , 2014, Int. J. Bus. Inf. Syst..

[32]  Dan J. Kim,et al.  Assessing the effects of consumers' product evaluations and trust on repurchase intention in e-commerce environments , 2018, Int. J. Inf. Manag..

[33]  T. Beck,et al.  Banking Services for Everyone? Barriers to Bank Access and Use Around the World , 2006 .

[34]  Rolf T. Wigand,et al.  Optimal experience of Web activities , 1999 .

[35]  Charles J. Kacmar,et al.  Developing and Validating Trust Measures for e-Commerce: An Integrative Typology , 2002, Inf. Syst. Res..

[36]  Paul A. Pavlou,et al.  The Boundaries of Trust and Risk: The Quadratic Moderating Role of Institutional Structures , 2012, Inf. Syst. Res..

[37]  N. L. Chervany,et al.  Initial Trust Formation in New Organizational Relationships , 1998 .

[38]  Qian Huang,et al.  The role of website quality and social capital in building buyers' loyalty , 2017, Int. J. Inf. Manag..

[39]  Jason Bennett Thatcher,et al.  How and why trust matters in post-adoptive usage: The mediating roles of internal and external self-efficacy , 2017, J. Strateg. Inf. Syst..

[40]  H. Raghav Rao,et al.  A trust-based consumer decision-making model in electronic commerce: The role of trust, perceived risk, and their antecedents , 2008, Decis. Support Syst..

[41]  M. Minor,et al.  Web aesthetics effects on perceived online service quality and satisfaction in an e-tail environment: The moderating role of purchase task , 2010 .