Digital Payment and Customer Behavior (How Mobile Payment Systems Influence the Spending Habits of International Students in Finland)

Abstract

This study was aimed at analyzing the impact of mobile payment systems on the spending, budgeting, and general financial management behavior of international students in Finland. The thesis discusses the convenience and potential costs of popular digital payment networks such as MobilePay, Google Pay, Apple Pay, and Siirto. The research was conducted using quantitative interviews with international students in order to provide a comprehensive picture of the effects of financial behaviors in a cashless environment. The theoretical framework was based on Unified Theory of Acceptance and Use of Technology (UTAUT), and its main factors are performance expectancy, effort expectancy, social influence, and facilitating conditions. Financial knowledge, trust and cultural adaptation were also considered to be influential in the study. The results show that mobile payments enhance financial tracking with digital receipts and transaction histories but also enhance the chances of unplanned expenses. Most students, particularly those who were previously exposed to the digital finance, showed high confidence in the digital payment infrastructure of Finland and managed to perform well in the cashless environment. It was also found that mobile payments improved the socialization of students. Based on the findings, effective recommendations are provided to ensure international students manage their money better. These are financial literacy courses, student friendly budgeting apps provided by banks and payment platforms, and enhanced partnership between higher education institutions and digital payments. The conclusion of the study provides recommendations based on future research which include cross demographic studies, longitudinal studies, and studies on the effects of mobile payments on social integration and financial wellbeing. The research leads to the comprehension of digital financial behaviors among international students in Finland and informs the policy makers, institutions of higher learning, and financial service providers. Keywords: Mobile payment systems, international students, Finland, Cashless economy, financial behavior, Digital finance, Budgeting, UTAUT.