Decoding discontinuous behavior: Unraveling gamification's impact on ewallet applications

Abstract

In light of the continual changes within the financial industry, fintech companies are increasingly incorporating game-like features such as rewards to attract consumers. Nonetheless, it's vital to carefully assess the potential detrimental implications of this gamified approach. The goal of this study is to analyze the variables influencing young Vietnamese people's discontinuous behavior on e-wallet usage. Furthermore, a structural model integrating the theory of planned behavior and self-determination theory is presented to demonstrate the mechanism via which gamification characteristics such as lack of novelty, lack of transparency, and dependence on rewards drive consumer discontinuous behavior. The findings suggest a heightened risk aversion among consumers, ultimately resulting in discontinuous behavior. Moreover, the results reveal a serial mediation effect involving all of the examined factors. Finally, the research provides valuable insights for business providers in the fintech industry on customer behavior in order to propose multiple suggestions for enhancing the efficiency of gamification in e-wallets.