Consumer Value Segments in Mobile Bill Paying

The purpose of the present study was to explore consumer value in mobile banking and in mobile bill paying especially. Today mobile communications technologies offer an opportunity for vast additional value for consumers´ banking actions due to their always-on functionality and the option to bank virtually any time and anywhere. However, consumer value differs between individuals. It was measured in the context with five items namely privacy, accuracy, convenience, control and efficiency. An Internet questionnaire was developed and 82 usable responses from the users of mobile bill paying were collected. K-means clustering was used and five different value segments were identified. The results indicate that privacy and efficiency are the most valued items in mobile bill paying in general while individuals differing in their valuations. The study provides academics and bank managers with better understanding to consumer value in mobile banking and offers indications for value-based consumer segmentation