A Study on Financial Consumer’s Switching Intention from Mobile Applications to WeChat Platform

Abstract

Background/Objectives: For the mobile payment applications, their switching behaviors are getting a growing attention. Accordingly, we utilize the theoretical framework of Push-Pull-Mooring (PPM) in population migration to study the switching intention of mobile payment applications.

Methods/Statistical analysis: On the basis of literature review, combined with the features of the research objects, this paper put forward the compositions of two mooring, three pull, along with three push factors. The outcomes suggest that in contrast to first-order model, the model of PPM having the second-order factor architecture offers an acceptable observed variables representation.

Findings: Results also indicate that push effects of mobile banking applications and pull effects of WeChat bank have obvious influences on the switching intention of users, whereas mooring effects exert no significant negative influence. Furthermore, mooring dimension factors possess a remarkable moderating effect in the relationship between switching intention and push category. Nevertheless, mooring factors have no moderating influence on the relationship between switching intention and traction factors. In the end, we provided several suggestions for companies running mobile applications and WeChat platform based on the study results.

Improvements/Applications: Based on the presenting literature, we put forward that the WeChat platform factors possessing a mediating effect between switching behavior and mooring variables.