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1. Introduction
Mobile payment refers to using mobile phones and other electronic devices rather than computer terminals for online payment. It enables consumers to pay more conveniently, safely and accessibly, which has been accepted by most countries worldwide (Rosenberg, 2006). With the development of financial technology (FinTech) in the fields of payment, settlement, deposit and loan, mobile payment has broken the restrictions of traditional payment methods to become the most convenient payment method (Leong et al., 2017; Fujiki, 2020). Based on statistics from the People's Bank of China, in the third quarter of 2021, a total of 39.08 billion mobile payment transactions were handled, totaling 126.81 trillion yuan. Compared to the same period in 2020, the two figures increased by 13.28 and 8.62%, respectively. According to statistics from the Global System of Mobile Communication Association (GSMA), in 2021 mobile money platforms processed more than USD 1 trillion of mobile payment transactions, reaching a growth rate of 31% compared to 2020. The number of global mobile payment users also increased by 18% (Awanis et al., 2022).
Although mobile payment is widely pervasive, the corresponding satisfaction is not very high among consumers. Based on the Research Report on Mobile Payment Users 2020, 87% of users believe that mobile payment has security risks, and 65% think usage scenarios of mobile payment are limited, which shows that there is room for improvement in payment satisfaction (Payment and Clearing Association of China, 2021). Payment satisfaction refers to the psychological feeling of satisfaction or disappointment formed by comparing the perceived results in payment processes with consumer expectations (Czeplel and Rosenberg, 1977). It is an important component and a direct measurement of consumer well-being, a significant topic in consumer finance (Xiao and Tao, 2020). Previous studies have identified factors affecting this satisfaction from the perspective of technology and individual characteristics (Paul and Bhukya, 2021). Technological factors affecting payment satisfaction include convenience, accessibility, security, and popularity in the processing of payments (Schierz et al., 2010; Estelami and Bezzone, 2022). Improvement in payment technology could also influence consumers' choice of payment methods, and eventually enhance their financial well-being (Arner et al., 2020). Furthermore, consumers' acceptance of innovation and understanding of mobile payments are also key factors that affect payment satisfaction....