A Survey to Assess Changes in Payment Transaction via Mobile Phone Behavior During the COVID-19 Pandemic
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Abstract
The outbreak of the COVID-19 pandemic has affected every sector of society. Consumer payment behavior is no exception. The purpose of this study is to estimate the causal impacts of the COVID-19 pandemic on mobile payment behaviors and to examine factors underpinning such impacts. The behaviors of interest include the volume and the value of mobile payment transactions, the volume of QR code mobile payment transactions, the volume of PromptPay transactions, and the variety of mobile payment methods. The analysis is based on a survey, which is designed to recover counterfactual outcomes, of 503 people living in Bangkok between July and August 2021. The findings suggest that the COVID-19 pandemic has significantly increased all types of mobile payment transactions. The results from the logit model indicate that such changes in each mobile payment behavior are determined by different factors. The findings reflect the need to use different strategies to increase mobile payment usage to maximize the efficiency of the electronic payment system in Thailand and to help accelerate the transition to a cashless society.
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