Has the Uptake of Innovative Payment Methods affected UK Student Spending Habits? Emphasis on Contactless Payments (2019)

This dissertation analyses the current payment landscape in the UK in a period of increased digitisation and use of contactless payment. The aim of this dissertation is to understand how innovative payment instruments like contactless cards and mobile payments, have affected the spending behaviour of students age 18 – 24. It investigates the rationale for such behaviour and explores the differences that arise when using traditional methods such as cash. Using qualitative semi-structured interviews and questionnaire responses, this study builds on existing research and applies thematic content analysis to identify trends in student spending patterns when exposed to innovative payment methods.

Further illustrated by quantitative regression analysis, the use of contactless payment methods, significantly influenced student spending habits. Common themes apparent from the analysis included a subconscious accumulation of small, impulsive purchases, as well as a reduced sense of guilt when using contactless payments. This was primarily attributed to the theory that in comparison to using cash for payments, contactless transactions are intangible and therefore do not feel like using real or tangible money.

The introduction of debit and credit cards was described by some economists as the first step
towards a cashless society. A cashless society is an economic state whereby financial transactions are conducted through digital payment means such as bank transfers and payment cards as opposed to through physical banknotes and coins. Therefore, the aim of this study is to explore the current payment landscape that exists in the UK and understand how the consumer behaviour of students is affected when being introduced to new and innovative payment methods.

This will be achieved by critically assessing previous literature about the effect of payment innovations on consumer methods. Questionnaires and semi-structured interviews will be used to obtain qualitative data about student spending habits; which coupled with Probit regression, will allow a thorough understanding of the factors influencing student spending.

  • 10,000 words – 34 pages in length
  • Excellent use of literature
  • Excellent analysis of subject area
  • Well written throughout
  • Includes interview transcripts
  • Ideal for economics students

1 – Introduction

2 – Literature Review
History of contactless payment
Contactless Payment Technology
Mobile Proximity Payment
Adoption of Technology Model
Consumer Payment Choice
The Preference for Innovation
The Transition to a Cashless Society
Student Spending Habits
Psychological Aspects
The Pain of Paying

3 – Methodology
Research Design
Research Style – Qualitative
Semi- Structured Interviews
Investigative Questionnaire
Data Analysis
Quantitative Analysis- Probit Regression
Bank Balance
Financial Fluency

4 – Data Analysis and Discussion
Description of Sample
Qualitative results and Descriptive Statistics
Initial Observations
Payment Tangibility
The Effect of Contactless Adoption on Spending
Mobile Proximity Payment (MPP Adoption)
Inhibitors to Contactless Adoption
Student Debt Contributors
Implications of a Cashless Society
Quantitative Regressions
Awareness of Current Bank Balance
Financial Fluency
Limitations of the Dissertation

5 – Evaluation and Conclusion



Innovative Payment Methods And Spending Habits Dissertation
Innovative Payment Methods And Spending Habits Dissertation

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