Can Blockchain Payment Services Influence Customers’ Loyalty Intention in the Hospitality Industry? A Mediation Assessment
Abstract
:1. Introduction
2. Theoretical Framework and Hypothesis Development
2.1. Theory of Planned Behavior (TPB) and Technology Acceptance Model (TAM)
2.2. Blockchain Mobile Payment Service and Its Features
2.2.1. Customer Familiarity
2.2.2. Ease of Transaction
2.2.3. Transparency
2.2.4. Efficiency
2.3. Blockchain Payment Services, Privacy and Security, Service Quality, Customer Satisfaction
2.4. Privacy and Security, Service Quality, Customer Satisfaction, and Loyalty Intention
2.5. Blockchain Payment Services and Customer Loyalty Intention
2.6. Mediating Role of Service Quality, Privacy and Security and Customer Satisfaction
3. Methods
3.1. Sample and Data Collection Procedure
3.2. Measurements
4. Results
4.1. Demographic Profile
4.2. Common Method Bias and Multicollinearity
4.3. Measurement Model Assessment
4.4. Structural Model Assessment
4.5. Model Quality
5. Discussion
5.1. Theoretical Implications
5.2. Managerial Implications
5.3. Study Limitations and Scope for Future Research
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Category | Frequency | Percent (%) | |
---|---|---|---|
Gender | Male | 194 | 59.5 |
Female | 132 | 40.5 | |
Age Group in years | 18–25 | 72 | 22.1 |
26–35 | 171 | 52.5 | |
36–49 | 71 | 21.8 | |
Above 50 | 12 | 3.7 | |
Educational Qualification | Bachelor’s degree | 180 | 55.2 |
Master’s degree | 113 | 34.7 | |
Professional degree | 22 | 6.7 | |
Other | 11 | 3.4 | |
Profession | Student | 57 | 17.5 |
Service holder | 111 | 34.0 | |
Businessperson | 90 | 27.6 | |
Professional | 18 | 5.5 | |
Other | 50 | 15.3 |
Constructs | Mean | St. dev | 1 | 2 | 3 | 4 | VIF |
---|---|---|---|---|---|---|---|
1. Blockchain payment services | 3.472 | 1.039 | 1 | 2.703 | |||
2. Privacy and security | 3.870 | 0.888 | 0.698 ** | 1 | 2.420 | ||
3. Service Quality | 3.847 | 0.900 | 0.708 ** | 0.714 ** | 1 | 2.600 | |
4. Customer Satisfaction | 3.929 | 0.836 | 0.659 ** | 0.561 ** | 0.613 ** | 1 | 1.926 |
Construct and Items | FL | α | CR | AVE |
---|---|---|---|---|
Blockchain mobile payment services (BPS) | ||||
CF1: BPS is known to me | 0.550 | 0.927 | 0.936 | 0.516 |
CF2: BPS is fascinating to me | 0.526 | |||
CF3: I am aware of BPS | 0.633 | |||
CF4: BPS drew my interest | 0.696 | |||
ET1: BPS is clear and understandable | 0.795 | |||
ET2: BPS technology is easy to use | 0.746 | |||
ET3: Easy for me to become skillful at using BPS | 0.650 | |||
TR1: BPS processes are transparent to me | 0.763 | |||
TR2: BPS provides in-depth access to transactions | 0.774 | |||
TR3: Applications of BPS are well described to me | 0.722 | |||
TR4: Usability of BPS is clear to me | 0.800 | |||
EF1: BPS technology helps make payments more effectively. | 0.769 | |||
EF2: Using BPS would enable to make payment more quickly | 0.793 | |||
EF3: BPS is a useful payment system. | 0.766 | |||
Privacy and security (PS) | ||||
PS1: BPS ensures authorized updating of shared information. | 0.866 | 0.861 | 0.906 | 0.707 |
PS2: BPS confirms lower risk of tampering of history of transactions. | 0.862 | |||
PS3: BPS guarantees authorized information access. | 0.806 | |||
PS4: BPS confirms high level of accountability about transactions | 0.827 | |||
Service quality (SQ) | ||||
SQ1: BPS provides services as promised | 0.786 | 0.872 | 0.907 | 0.661 |
SQ2: BPS delivers prompt services to the customers | 0.827 | |||
SQ3: BPS instils confidence in the customers | 0.872 | |||
SQ4: BPS provides best suitable services to the customers | 0.791 | |||
SQ5: BPS technologically up to date | 0.787 | |||
Customer satisfaction (CS) | ||||
CS1: I am satisfied with the usage of blockchain-based payment service | 0.834 | 0.827 | 0.896 | 0.743 |
CS2: I am delighted to use blockchain-based payment service | 0.845 | |||
CS3: My experience related to blockchain-based payment service is satisfying | 0.905 | |||
Loyalty intention (LI) | ||||
LI1: I will use blockchain payment service in my future travels | 0.917 | 0.879 | 0.925 | 0.805 |
LI2: I will use blockchain payment service for booking hotels for my future travels | 0.882 | |||
LI3: I will encourage my friends, family and peers to use blockchain payment service | 0.891 |
1 | 2 | 3 | 4 | 5 | |
---|---|---|---|---|---|
1. Blockchain mobile payment services | ------ | ||||
2. Loyalty intention | 0.725 | ------ | |||
3. Customer Satisfaction | 0.769 | 0.636 | ------ | ||
4. Privacy and security | 0.792 | 0.662 | 0.665 | ------ | |
5. Service Quality | 0.799 | 0.626 | 0.723 | 0.825 | ------ |
Hypothesis Path | β | t-Values | p-Values | Decision | R2 | f2 | Q2 |
---|---|---|---|---|---|---|---|
Direct effects | |||||||
H1: BPS → PS | 0.723 | 25.767 | 0.000 | Supported | 0.522 | 0.105 | 0.365 |
H2: BPS → SQ | 0.736 | 23.474 | 0.000 | Supported | 0.541 | 0.024 | 0.353 |
H3: BPS → CS | 0.698 | 23.078 | 0.000 | Supported | 0.487 | 0.022 | 0.358 |
H4: PS → LI | 0.171 | 2.219 | 0.013 | Supported | 0.479 | 0.001 | 0.373 |
H5: SQ → LI | 0.036 | 0.448 | 0.327 | Not Supported | |||
H6: CS → LI | 0.138 | 1.694 | 0.045 | Supported | |||
H7: BPS → LI | 0.424 | 5.358 | 0.000 | Supported | |||
Mediating effects | |||||||
H8: BPS → PS → LI | 0.124 | 2.159 | 0.015 | Supported | Partial Mediation | ||
H9: BPS→ SQ → LI | 0.027 | 0.445 | 0.328 | Not Supported | No Mediation | ||
H10: BPS→CS → LI | 0.096 | 1.661 | 0.048 | Supported | Partial Mediation |
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Karim, R.A.; Rabiul, M.K.; Ishrat, M.; Promsivapallop, P.; Kawser, S. Can Blockchain Payment Services Influence Customers’ Loyalty Intention in the Hospitality Industry? A Mediation Assessment. Adm. Sci. 2023, 13, 85. https://doi.org/10.3390/admsci13030085
Karim RA, Rabiul MK, Ishrat M, Promsivapallop P, Kawser S. Can Blockchain Payment Services Influence Customers’ Loyalty Intention in the Hospitality Industry? A Mediation Assessment. Administrative Sciences. 2023; 13(3):85. https://doi.org/10.3390/admsci13030085
Chicago/Turabian StyleKarim, Rashed Al, Md Karim Rabiul, Mahima Ishrat, Pornpisanu Promsivapallop, and Sakia Kawser. 2023. "Can Blockchain Payment Services Influence Customers’ Loyalty Intention in the Hospitality Industry? A Mediation Assessment" Administrative Sciences 13, no. 3: 85. https://doi.org/10.3390/admsci13030085