Consumer Preferred E-Payment Services: A Conjoint Analysis

Abstract

Innovation and advancement of financial technology in E-payment services integrate various features of E-payment platforms that influence the consumer experience during utilization. This study measures how consumers value different attributes of E-payment services using a choice-based Conjoint analysis. Using a questionnaire checklist based on 16 E-payments plan cards generated, we analyzed consumers' preferences to determine the relative importance of each attribute and to calculate utility scores to quantify their preferences. Our findings revealed that while most consumers are highly economically active, factors such as age, gender, and educational attainment influence consumer preferences. Ease of use, security features, transaction speed, rewards, and transaction costs were the attributes most influential to consumers. Surprisingly, transaction cost emerged as the most influential attribute, and contrary to conventional expectations, consumers favored higher transaction costs in E-payment services. This emphasizes the importance of consumer-centered service design and the need for further analysis to enhance outreach and consumer satisfaction in emerging economies.