Consumers’ Willingness to Choose a National Payment Card: A Stated Preference Approach

This study is to identify the consumers’ willingness to choose a national payment card and to assess how it can compete with the existing International Payment Networks in the domestic banking market, commissioning conjoint analysis. The research investigates whether the current mechanism adopted by Sri Lanka meets these requirements. Furthermore, the strategic movement by Sri Lanka towards achieving this target is critically analyzed with opportunities for improvement that are meant to be beneficial for the country. The sample size for the study was 81, and the response rate was 53.29%. The profiles were generated by applying orthogonal design. The analytical model for the study was the Rank Ordered Logit model. The research has shown that out of nine hypotheses, three were three significant variables which are Option, Dispute Management, and Card Industry Standard and having the impacts of -0.58 (58%), -0.29 (29%), and 0.29 (29%) respectively on willingness to choose.