Article Preview
TopIntroduction
M-PESA from Safaricom is the dominant mobile financial service (MFS) in Kenya. More than 23 million subscribers have been using M-PESA since 2007 (Omigie, Zo, Rho, & Ciganek, 2017) accounting for about $28 billion in 2015 alone or roughly 44% of Kenya’s gross domestic product (Masinde, 2016). MFS consists of mobile banking services and mobile payment services (Lee, Park, Chung, & Blakeney, 2012). MFS is a driving force for financial inclusion in developing countries. Low-income, under-banked, and un-banked customers utilize M-PESA to receive and send money, pay for goods and services, and access credit and insurance services (Mazer & Rowan, 2016). As a result, MFS utilization has steadily increased in the banking, commerce, healthcare, agricultural, transportation, insurance, government, and many other industries (Adaba & Ayoung, 2017; Donovan, 2012).
Numerous studies have explored MFS adoption and acceptance (Omigie et al., 2017; Thakur & Srivastava, 2014), MFS business models (Pousttchi & Hufenbach, 2012), and MFS regulatory and contracting issues (Kemp, 2013), but only a few studies have examined MFS post-adoption customer perceptions (Yu & Fang, 2009; Zhou, 2013). Most of these MFS studies employ attitude and adoption models like the technology acceptance model, diffusion of innovation theory, and the unified theory of acceptance and use of technology (Shaikh & Karjaluoto, 2015). MFS studies have also extensively examined the perception of value on customer satisfaction and loyalty, continuance intention, and pre-adoption behavior (Carlson, O'Cass, & Ahrholdt, 2015; Kuo, Wu, & Deng, 2009; Omigie et al., 2017; Thuy & Hau, 2010). Means-end theory has not been applied to examine customers’ attitudes and outcome behaviors using MFS.
Means-end theory posits that at a higher level of abstraction, customers’ attitudes and outcome behaviors are goal and value-motivated (Gutman, 1997). To connect these goals and value to customer attitude and outcome behaviors, the prior literature is leveraged to propose an integrated research model. This study investigates the impact of perceived and personal values on customers’ attitudes and behaviors toward MFS at the post-adoption stage. The study presents an integrated model grounded in means-end theory by utilizing customer value research frameworks like the customer value hierarchy and customer value change frameworks (Flint, Woodruff, & Gardial, 1997; Woodruff, 1997; Woodruff & Gardial, 1996) to link perceived and personal values to customer satisfaction and continuance intention. The customer value research frameworks connect the goals and values in means-end theory to attitude and outcome behaviors at a higher level of abstraction. Customer value attracts new customers, retains existing customers, increases market share, increases profitability, and in the long-run, facilitates long-term service viability and survival (Bhattacherjee, Perols, & Sanford, 2008). Customer value is closely related to customer experience outcomes (Thong, Hong, & Tam, 2006). Customer experience outcomes may offer useful insights for creating and delivering value-based MFS.