A Conjoint Analysis Study on Consumer Preference Between GCash and PayMaya

The surge in electronic transactions is challenging m-wallet providers to meet the demands of their customers. Hence, this study aimed to determine which m-wallet profile and attributes are most desirable. Using a conjoint analysis questionnaire, 152 respondents from Central Visayas, determined through a stratified random sampling method, were surveyed. Results revealed that consumers placed the highest importance on the verification process while giving the least importance to money transfer charges. Their most preferred m-wallet profile is a PIN-based mobile wallet that verifies using both primary and secondary IDs, has service charges, partners with non-utility providers, reflects payment within a day or more, and with deposits and withdrawals being available in both top-up outlets and partner stores. Thus, GCash fits the ideal m-wallet profile more than PayMaya. However, these preferences significantly differ between existing and potential users, as discovered by the two-sample t-test. To improve m-wallet services in the fintech industry, m-wallet providers and other stakeholders need to prioritize features most desired by their target market.