The MB WAY case : in what conditions would customers accept paying for this service?

• Autor(a) principal: Melo, André Martins de
• Data de Publicação: 2019
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.14/29185
• topic: MB WAY; Money transfer; Customer acceptance; Customer willingness; Transferência de dinheiro; Aceitação do cliente; Vontade do cliente; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Peoples‟ expectations regarding how financial services are delivered is becoming increasingly demanding. One of these already formed assumptions is related to always being able to perform instant money transfers. In Portugal, the app MB WAY allows every user to make these instant money transfers free of charge. However, a fee is going to be implemented per transaction with the value depending on the bank of the user. The purpose of this research was to conclude if people are indeed willing to start paying for the same service that was once free and if so, how much and in what price scheme. Bank loyalty and the loyalty towards the app itself were also tested. Tests were also made regarding price predictors and willingness to purchase the app, but no major indicators were found to be significant. Primary data was obtained through a questionnaire that provided 319 valid responses from app users. The results have shown that users are not yet willing to accept the prices that maybe are going to be charged, as they view them as being overpriced. Despite that, the impact caused by the app is not sufficient to alter their bank loyalty, although the study suggests that the respondents are receptive to changing apps if a cheaper option is available. Due to the fact that it provides the consumer perspective about this matter, the present research may contribute to how banks assess the possible price setting of instant money transfers in the near future.