[Paper Review] FinTech E-Commerce Payment Application User Experience Analysis during COVID-19 Pandemic

Leon Andretti Abdillah|arXiv (Cornell University)|Dec 6, 2020

FinTech, Crowdfunding, Digital Finance31 citations

TL;DR

This study analyzes user experience (UX) of Go-Pay, a FinTech e-commerce payment app in Indonesia, during the COVID-19 pandemic using the User Experience Questionnaire (UEQ) across six dimensions. Results show Go-Pay excels in efficiency, perspicuity, and stimulation, with 'efficiency' as the highest-rated factor, but scores lowest in 'novelty,' indicating room for innovation despite strong usability and reliability.

ABSTRACT

The application of information technology in the era of big data and cloud computing has led to the trend of electronic payments through financial technology, or FinTech. One of the most popular FinTech applications in Indonesia is Go-Pay in the Gojek start-up application. This research will analyze how the FinTech Go-Pay user experience both for transactions on Gojek and at merchants that collaborate with Gojek. User Experience (UX) is analyzed using the User Experience Questionnaire which consists of 6 (six) variables (Attractiveness, Perspicuity, Efficiency, Dependability, Stimulation, and Novelty). Total data collected amounted to 258. After analyzing the calculation results, the mean scores are obtained in the following order: Efficiency, Perspicuity, Stimulation, Attractiveness, Dependability, and Novelty. Then when compared with benchmark data the following sequence is obtained: Efficiency, Perspicuity, Stimulation, Attractiveness, Dependability, and Novelty. Overall the Go-Pay service is efficient and perspicuity, but the Go-Pay service needs to improve its novelty. This article provides additional knowledge or novelty contributions, especially for user experience analysis using FinTech applications.

Motivation & Objective

• To investigate user experience of FinTech e-commerce payment applications, specifically Go-Pay, during the COVID-19 pandemic.
• To identify strengths and weaknesses in Go-Pay’s UX across six dimensions: attractiveness, perspicuity, efficiency, dependability, stimulation, and novelty.
• To benchmark Go-Pay’s UX against global standards using a large-scale UEQ benchmark dataset.
• To contribute novel insights into FinTech UX analysis in emerging markets, particularly Indonesia.
• To address the research gap in UX evaluation of FinTech services, especially during pandemic-driven digital adoption.

Proposed method

• Employed a quantitative research approach with online surveys administered to 258 respondents.
• Utilized the User Experience Questionnaire (UEQ) to assess six UX dimensions: attractiveness, perspicuity, efficiency, dependability, stimulation, and novelty.
• Calculated mean and variance scores for each UX dimension to evaluate user perceptions.
• Applied benchmarking by comparing Go-Pay’s UX scores against data from 452 studies involving 20,190 participants.
• Grouped UEQ factors into pragmatic quality (efficiency, perspicuity, dependability) and hedonic quality (stimulation, novelty).
• Used statistical analysis to interpret scores relative to neutral, positive, and negative thresholds (±0.8).

Experimental results

Research questions

• RQ1 How does Go-Pay perform across the six core UX dimensions (attractiveness, perspicuity, efficiency, dependability, stimulation, novelty) during the pandemic?
• RQ2 How does Go-Pay’s UX compare to global benchmarks in terms of relative performance?
• RQ3 Which UX dimensions are perceived as strengths or weaknesses in Go-Pay’s service?
• RQ4 What are the implications of Go-Pay’s UX profile for FinTech adoption and digital payment innovation in Indonesia?
• RQ5 How does user experience vary across generational groups (Millennials and Gen Z) in the context of pandemic-driven digital transactions?

Key findings

• Go-Pay achieved the highest mean score in 'efficiency' (1.429), indicating users perceive the payment process as fast and effective.
• The 'perspicuity' dimension scored 1.387, showing users find the interface clear and easy to understand.
• The 'stimulation' dimension received a mean score of 1.417, placing it in the 'good' category, suggesting users find the app engaging.
• The 'novelty' dimension scored the lowest at 0.982, indicating users perceive Go-Pay as lacking innovative or unique features.
• All UX dimensions scored above average compared to the benchmark dataset, with 25% of results better and 50% worse for five variables.
• The 'dependability' dimension scored 1.248, reflecting strong user confidence in the system’s reliability and consistency.