Italians' buying and payment habits have been put to the test throughout 2020 due to the Coronavirus pandemic. The enforced closure orders for various types of commercial activities and offices for many months have pushed Italians to rely more and more on online payments, while concerns about the possibility of contagion via cash have led to a reduction in the withdrawal and use of banknotes in favor of electronic payment instruments. Furthermore, in the last month of the year, the State Cashback was launched, an initiative aimed at strongly incentivizing digital payments. In this context of strong discontinuity, this study on consumers payment attitude was conducted in collaboration with Innovative Payments Observatory and AppQuality to better understand the factors influencing the choice of one payment method over another. The analysis was carried out on a sample from AppQuality panel of testers by asking its participants to write down in a diary all their transactions carried out over the course of a month between November and December 2020. Among the variables that were considered, there are the type of merchant, the value of transaction, the payment method used, the reason for the choice, and the degree of satisfaction linked to each individual transaction. Early adopters cluster is identified and used as control group to evaluate the first-time user experience with innovative payment solutions. The study evidenced the positive treatment effect on consumer habits. Perceived speed, ease of use, safety, and hygiene were the main drivers. A further objective of the study was to assess the impact of introducing the Cashback initiative on the adoption of digital payments. The panel data were analyzed using fixed-effect model, and we found out that, in line with the initiative's intent, card payments significantly increased in the segment characterized by low adoption of digital payment. However, State Cashback led to a sizeable drop in more innovative payments (i.e., mobile payments) due to the exclusion of main solutions like Apple Pay, Google Pay, and Samsung Pay.
Le abitudini di acquisto e pagamento degli italiani sono state messe alla prova per tutto il 2020 a causa della pandemia di Coronavirus. Le ordinanze di chiusura forzata per vari tipi di attività commerciali e uffici da molti mesi hanno spinto gli italiani a fare sempre più affidamento sui pagamenti online, mentre le preoccupazioni sulla possibilità di contagio tramite contante hanno portato a una riduzione del prelievo e dell'utilizzo delle banconote a favore degli strumenti di pagamento elettronico. Inoltre, nell'ultimo mese dell'anno, è stato lanciato lo State Cashback, un'iniziativa volta a incentivare fortemente i pagamenti digitali. In questo contesto di forte discontinuità, questo studio sull'attitudine al pagamento dei consumatori è stato condotto in collaborazione con Innovative Payments Observatory e AppQuality per meglio comprendere i fattori che influenzano la scelta di un metodo di pagamento rispetto ad un altro. L'analisi è stata condotta su un campione del panel di tester AppQuality chiedendo ai partecipanti di annotare in un diario tutte le transazioni effettuate nel corso di un mese tra novembre e dicembre 2020. Tra le variabili considerate vi sono la tipologia dell'esercente, il valore della transazione, il metodo di pagamento utilizzato, il motivo della scelta e il grado di soddisfazione legato a ogni singola transazione. Il cluster dei primi utilizzatori viene identificato e utilizzato come gruppo di controllo per valutare la prima esperienza dell'utente con soluzioni di pagamento innovative. Lo studio ha evidenziato l'effetto positivo del trattamento sulle abitudini dei consumatori. Velocità percepita, facilità d'uso, sicurezza e igiene sono stati i principali driver. Un ulteriore obiettivo dello studio è stato quello di valutare l'impatto dell'introduzione dell'iniziativa Cashback sull'adozione dei pagamenti digitali. I dati del panel sono stati analizzati utilizzando il modello a effetti fissi e abbiamo riscontrato che, in linea con l'intento dell'iniziativa, i pagamenti con carta sono aumentati in modo significativo nel segmento caratterizzato da una bassa adozione del pagamento digitale. Tuttavia, State Cashback ha portato a un notevole calo dei pagamenti più innovativi (ad esempio mobile payment) a causa dell'esclusione delle principali soluzioni come Apple Pay, Google Pay e Samsung Pay.
The impact of Covid-19 on Italians' expenditure. Analysis of purchasing habits in physical Pos transactions and factors influencing the choice of payment method
Hammad, Yasser Emadeldin Mohamed
2020/2021
Abstract
Italians' buying and payment habits have been put to the test throughout 2020 due to the Coronavirus pandemic. The enforced closure orders for various types of commercial activities and offices for many months have pushed Italians to rely more and more on online payments, while concerns about the possibility of contagion via cash have led to a reduction in the withdrawal and use of banknotes in favor of electronic payment instruments. Furthermore, in the last month of the year, the State Cashback was launched, an initiative aimed at strongly incentivizing digital payments. In this context of strong discontinuity, this study on consumers payment attitude was conducted in collaboration with Innovative Payments Observatory and AppQuality to better understand the factors influencing the choice of one payment method over another. The analysis was carried out on a sample from AppQuality panel of testers by asking its participants to write down in a diary all their transactions carried out over the course of a month between November and December 2020. Among the variables that were considered, there are the type of merchant, the value of transaction, the payment method used, the reason for the choice, and the degree of satisfaction linked to each individual transaction. Early adopters cluster is identified and used as control group to evaluate the first-time user experience with innovative payment solutions. The study evidenced the positive treatment effect on consumer habits. Perceived speed, ease of use, safety, and hygiene were the main drivers. A further objective of the study was to assess the impact of introducing the Cashback initiative on the adoption of digital payments. The panel data were analyzed using fixed-effect model, and we found out that, in line with the initiative's intent, card payments significantly increased in the segment characterized by low adoption of digital payment. However, State Cashback led to a sizeable drop in more innovative payments (i.e., mobile payments) due to the exclusion of main solutions like Apple Pay, Google Pay, and Samsung Pay.| File | Dimensione | Formato | |
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Descrizione: THE IMPACT OF COVID-19 ON ITALIANS’ EXPENDITURE, TESI DI LAUREA MAGISTRALE IN MANAGEMENT ENGINEERING
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https://hdl.handle.net/10589/181354