Appendices

Camper, Goh, Johnson, Lin, Lizama

Appendix Appendix A: Anonymous Pre-Interview Demographic Form Appendix B: Code Sheet Appendix C: Interview Guide Appendix D: Upperclassmen Focus Group Transcript Appendix E: Underclassmen Focus Group Transcript Appendix F: Top 5 Codes Overall - Pie Chart Appendix G: Comparison of Code Mentions by Age Group - Bar Graph Appendix H: Qualtrics Survey Appendix I: Qualtrics Survey Results Appendix J: Variable Reference Table Appendix K: Frequencies SPSS Output Appendix K-1: Frequencies Bar Graph Appendix L: T-Test SPSS Output Appendix M: Cross-Tabs SPSS Output Appendix M-1: Cash App/Digital Wallet Personal Use * Social Class Standing Appendix M-2: Personal Cash App/Digital Wallet Use * Gender Appendix M-3: Disposable Income Source *Social Class Standing Appendix M-4: Disposable Income Source (Non-Parents/Family) * Social Class Standing Appendix M-5: Cash App/Digital Wallet Personal Use * Residence Status Appendix N: One-way ANOVA Output Appendix O: n-way ANOVA SPSS Output Appendix P: Bar Graph of Brand Awareness

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Appendix A: Anonymous Pre-Interview Demographic Form Anonymous Pre-Interview Demographic Form Gender: ● Male ● Female ● Other (please specify): _______________ Age and Graduation Class (please circle your age and year): ● 18/19 Freshman ● 19/20 Sophomore ● 20/21 Junior ● 21/22 Senior ● Other: ______________ Perceived Socioeconomic Status (based on Household Income): ● Lower class ($25,000 or under per year) ● Lower middle class ($25,001-50,000 per year) ● Middle middle class ($50,001-$80,000 per year) ● Upper middle class ($80,001-$100,000 per year) ● Upper class (over $100,001 per year) ● I would prefer not to disclose Where are you from? ● Hometown (city, state): ______________ Would you consider your hometown: ● Rural ● Small city ● Medium- sized city ● Megacity (over 8 million residents) What type of smartphone do you use? ● iPhone 4-5S ● iPhone 6 or 6+ ● Samsung (Galaxy, Nexus) ● LG (Optimus, Quad, Flex2, Transpyre) ● Windows (Nokia Lumia, HTC) 2

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● BlackBerry (Passport, Classic, P’9983, Z’30, Z’10, Q’10) ● Amazon Fire Phone ● Other (please specify) ___________________

Appendix B: Code Sheet Codes

Underclassman

Upperclassman

Brand Awareness

2

6

3

4

Unconsidered Apps ● Banking ● Ride-Sharing

1

● Paypal

1

Lack of Necessity

2

1

Location ● On-Campus

1

● Off-Campus

1

● Major City

1

Convenience

8

Uses

2

● Criminal

1

● Bills ● Organization ● Social Security

8

3 1

1 8 2

8

1

3

7

10

● Brand Reputation

2

6

General Spending Habits

1

● Food + Drink

1

● Online Shopping

1

● Transaction Amount Trust

Alternative Payment Methods ● Debit

1

3

3

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● Credit

1

● Cash

3

Accessibility

3

Inconvenience

1

Changed Perceptions ● Positive

1

Customer Service

3 3

Reason for Download ● Social

4

Knowledge of Functions

8

Privacy

2

2

Appendix C: Interview Guide Time: Focus Group Guide: Welcome/Topic Introduction ● Introduce ourselves ● Thank everyone for being there ● Explain project (example: Overall we want to understand a college student’s, specifically William and Mary undergraduates, perceptions and use of digital wallets and cashsharing apps. We are going to ask you some questions to gain insight on your use of these apps. ● Inform group that the session will be recorded through an audio recording Guidelines 1. As a participant, please honestly respond to as many questions as you can.

2. Please keep in mind that there are no right or wrong answers to our questions, just differing points of view 3. Please silence all electronic devices.

4. All of your answers and responses will be completely confidential. You will not be specifically named in any of the data that is submitted as part of the final project.

5. Please try to stay on topic as much as possible so that we do not go over our time limit.

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6. Please respect your fellow participants; allow others to finish their thoughts before providing your insight.

Interview Questions 1. Do you know what cash-sharing or digital wallet apps are? If so, which tools have you heard of?

2. On a basic level, how would you describe cash-sharing or digital wallet apps?

3. If any, which of these cash-sharing or digital wallet apps have you downloaded? If you haven’t downloaded any of these apps, please explain why.

4. When did you first download the app(s)?

5. What is the primary reason you first downloaded the app(s)?

6. What made you choose one app over the other options? If you have downloaded more than one, please explain why.

7. What types of products and services do you buy during the average week? What kinds of transactions do you most frequently engage in on the app specifically? (What do you spend your money on/use the app for? Ex. Rent, food, utilities, recreation, etc.)

8. Outside of digital wallet/cash-sharing apps, which form of payment do you use the most?

Cash, debit, or credit transactions? Which form do you use the most on the aforementioned weekly purchases?

9. Describe the interface/functionality of the various digital-wallet/cash-sharing apps.

Meaning the colors, ease of use, ease of download, etc. (We will show them each hat brand that we are considering via PowerPoint and/or our personal phones) a. On a scale from 1-5, where 1 is difficult and 5 is easiest, how would you rate the overall usability?

10. Can you estimate how many times you use these digital wallets or cash-sharing apps during an average week? (You may check your transactions on your phone at this time, for a more accurate estimate) 11. What parts of your life do cash-sharing or digital wallet apps influence? (Parts i. - iv. are a guideline for the moderator if the conversation becomes stagnant) i. Social life? If so, how? ii. Spending habits? If so, how? iii. Your participation in activities? If so, how? (For ex. You want to go bowling but can’t find your wallet.) iv. Relationship with cash 5

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12. Do you have any hesitation towards these apps? Why or why not? (i.e. is security one of the concerns that stops you from using these apps?)

13. Is there a limit on how much money you would spend/transfer via these apps? Why or why not?

14. Which tool seems the most trustworthy to you? Venmo, Apple Pay, Google Wallet, or Snapcash? Please describe how you interpret “trustworthy.” a. Do you know which larger companies operate each brand? Does that company’s reputation matter to you?

15. Is there a specific geographic location (i.e. college campus? city? hometown? abroad?) where you use these apps more or less frequently? (For those who DON’T USE the apps: Do you tend to spend more money in certain geographic locations than others? And why?)

16. Some other cash-apps offer features more than just sending/requesting money from others, for instance, they offer a feature for you to record how you spend your money.

Does this attract you to use those apps? Or you would prefer it to be more focused on sending and receiving money?

17. Does or would the social aspect of some of these digital wallet/cash-sharing apps (i.e. publicizing transactions between people) make you more or less likely to choose it over others? a. Have you ever used this social feature for purposes like to surprise/joke about someone, under the circumstance that sending money is not the main purpose? b. Would you be willing to show us your Venmo or purchase history? Why or why not? c. Does the feature that allows you to control the visibility of your expense history attract you toward or repel you from Venmo more than other apps?

Scenario/Situational Questions: Scenario 1: ● The William and Mary bursars office now has a Venmo account. You can now pay your outstanding balance of $1,000 through Venmo, cash, check, debit or credit card. Cash and

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check still require an in-person visit, while debit and credit card still require loading eServices through your desktop? Which option do you choose? Why? Scenario 2: ● Your friend has just snagged two tickets to the now sold out Justin Bieber concert, knowing you’re his biggest, baddest fan! The problem is, he lives a few hundred miles away :( Since both of you have a cash-sharing app, you can either pay him back through the app, traditional online banking or in cash on the day of the concert in 3 months. How do you pay him back? Why? Ending Questions 1. Are there any factors that we haven’t covered which you believe effect whether or not college students adopt digital wallets or cash-sharing apps?

2. Is there anything else you would like to share before we end the session?

Thank you so much for participating. The purpose of this study is to understand college students’ perceptions and adoption patterns of Venmo, Apple Pay, Google Wallet and Snap Cash. The research was designed to give insight on the spending habits of your particular demographic.

This information would be used by the customer service and development departments for each tool.

Appendix D: Participant Consent Form

Appendix E: Upperclassmen Focus Group Transcript February 25, 2015 5:07PM - 5:35PM There were 8 participants present Emory Camper: Alright, so, I’m Emory.

Caroline Goh: I’m Caroline.

Zoe Johnson: I’m Zoe.

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EC: And, so like, overall we wanna understand how College students on cash-sharing apps and digital wallet and so we’re gonna ask you guys like some questions and you are being recorded, just so you guys know. Hope that’s okay with everybody. Um, as a participant please honestly respond to as many questions as you can. Please keep in mind that there are no right or wrong answers to our questions just differing points of view. Please silence all of the electronics if you can. All of your answers and responses will be completely confidential. You will not be specifically named in any of data that is submitted as part of the final project. Please try to stay on topic as much as possible so that we do not go over our time limit, and please respect your fellow participants--allow others to finish their thoughts before providing your insight. Okay so, do you know what cash-sharing apps or digital wallets are? If so, like what tools have you guys heard of?

Participant 1: Venmo.

EC: Yeah.

Participant 2: Snapchat has Snapcash now.

EC: Yeah. Do you guys have them?

Participant(s): Yeah. I have Venmo.

EC: On a basic level, how would describe cash-sharing or digital wallet apps?

Participant: I’d say they pretty much allow you to like easily transfer money between two parties without having like to take out cash. You can just like literally transfer money from like one credit card or bank account to another.

Participant: I’ve never used one.

Participant: Me neither.

Participant: I don’t really trust them, to be honest. It just like scares me to transfer a lot of money through some virtual thing. Or like put your credit card.

EC: Understandable. Um, if any which of these cash-sharing or digital wallet apps have you downloaded? If you haven’t downloaded any of these apps please explain why.

Participant: Are you including...like I have a Wells Fargo app, but it’s just like…

ZJ: You can talk about it, if you’d like.

Participant: I mean somebody just said it, but I didn’t. Like I feel comfortable using that because all of its my money, like I’m just moving it between savings and checkings. Like the reason I don’t use one of the cash-sharing ones is cause like I can’t really see where the money’s going so to speak. Like when I use my money, I can see that the cash is going into the register.

ZJ: Right, okay.

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EC: Anybody else?

Participant: Yeah, I have a SunTrust and it’s like the same. Just like transferring between my own account, just like checking and savings and it’s less freaky than like giving someone else money, I guess.

ZJ: Have you ever transferred money between like your account and somebody else’s through those apps? Like I have a Bank of America app on my phone and I can transfer to another Bank of America account.

Participant: I had a housemate, like this wasn’t necessarily me, but he like took a picture of my check and put it in his bank account or however that works. That’s the closest thing I’ve done.

ZJ: Yeah.

Participant: I’ve used it. Chase has quick pay so you can quick pay people. Like by sending them money.

EC: When did you first download the app, if you do have one?

Participant: I got it last semester because I’m like in charge of collecting a lot of money for a big trip that we’re doing, so I downloaded it a couple months ago and like I’ve had good experiences so far. Today actually I had to contact them because I thought money disappeared and I was like hold on this money never came to my account, but um, they don’t have a phone number to call which was annoying, but they email you and I got it figured out.

ZJ: Did they respond in like, a timely manner?

Participant: Yeah, so it was kinda weird, I had to go to Twitter and tweet at um, Venmo Support and tweet back at you and say, “Oh can you send us your email?” and so I sent them my email that the Venmo is like hooked up through and they probably emailed back like every twenty to thirty minutes. So it was pretty quick.

ZJ: That’s so modern…

Participant: Yeah (laughter), ‘cause I was looking for a phone number and everybody was like, “there’s no phone number…” and I was like, “how’s there no phone number?” (laughter).

EC: So would you say that that trip is the primary reason why you downloaded it?

Participant: Yeah, that was the primary reason, but now that I have it, I use it for a lot of other things too.

EC: Okay.

Participant: But what if you don’t have Twitter? Is there like another way that you can contact them?

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Participant: I don’t know. You can probably email them, because they do have an email.

Participant: They contact you via email when like your money transfer go through.

Participant: Yeah, I just like don’t ever use that email that’s with my Facebook, so it took me a while to like get back to that.

Participant: Does um Uber count as like [a cash-sharing app]? Cause you have to put your credit card in for Uber, like then you pay Uber through your phone.

Participant: Yeah, it’s like the idea of a middleman.

Participant: Yeah.

EC: It can I guess cause...but it’s just one.

Participant: It’s not like both ways.

EC: Do you have that?

Participant: Yeah, I use it...it kinda sketched me out, but it worked.

ZJ: Why did it sketch you out?

Participant: I guess cause...I don’t know...they can take out as much money as they want. Like, you know what I mean?

ZJ: Yeah.

Participant: You get a receipt though…

Participant: I know yeah, you do get a receipt cause they have access to my card.

EC: Yeah. I can understand that. Um, what made you choose one app over the other options?

And if you downloaded more than one please explain why.

Participant: I have Venmo because the people I needed to give money to had Venmo.

Participant: I agree. We use Venmo to do our like utilities and water bills and stuff like that.

EC: Okay. I’ve heard of a lot of people doing that.

Participant: Yeah. Also like it’s linked through your Facebook friends so like I didn’t do the Snapchat one because...I’m sure you can change your settings, but like every once in a while I’ll get a random snap from some random thing and I’m like “yeah no.” So I don’t know it just seemed a little more secure through Facebook than the Snapcash one, but I haven’t tried it, so I couldn’t really say for sure.

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EC: What types of products and services do you buy during the average week? And what types of transactions do you engage in on the app specifically? You mentioned trip money.

Participant: Or like bills, like to roommates and things like that.

Participant: I use it a lot too like if I go out to dinner with friends and I don’t have my credit card. Like this weekend I went a couple times and just didn’t bring my wallet and I was like okay like just tell me how much it is and I’ll Venmo it. It’s like a quick way to like split bills to, if you don’t feel like giving the waiter like 8 credit cards and someone just pays for it and you Venmo them real quick.

EC: Yeah, that’s cool. Outside of digital wallet/cash-sharing apps which form of payment do you use the most? Cash? Debit? Credit?

Resounding answer: Debit.

Participant: I use debit a lot.

Participant: Yeah same (laughter).

ZJ: Does everyone have a credit card?

Participant: No, my parents won’t let me get one (laughter).

ZJ: I don’t have one either.

EC: Describe, if you can, the functionality of the various digital wallet/cash-sharing apps.

Meaning the colors, ease of use, easy to download and so on.

ZJ: Like what you were talking about before with the customer service, that’s pretty interesting you know for Venmo. We have like pictures of the different apps, um like Google Wallet, Apple Pay, to show you guys if you wanna see. If people haven’t seen them before?

Resounding answer: Yes, you can go through it.

ZJ: You got it?

CG: I got it. So this first one is Venmo and I don’t have it, but like Zoe can like say more.

ZJ: Okay, so the image on the far left is basically your timeline for Venmo. It looks sort of like a Facebook newsfeed. So like, you’d see like, “Zoe Johnson paid so-and-so this amount,” or not...you don’t see the amount and them, um, I can write what it’s for. Um, so, Zoe Johnson paid this person for groceries. And the next screen is what it looks like before you’re about to pay someone. So you type in who you’re gonna pay and it searches your friend list and then what’s for and then you go to actually typing in the money and then you can share what you’re paying for on Facebook, Twitter, I guess ForeSquare too. I don’t have ForeSquare, so I don’t know.

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Participant: You can make it private too, right?

ZJ: Yeah, you can.

Participant: I always thought that was kinda weird.

Participant: Yeah, it’s like they see you, but…

Participant: It is weird cause like sometimes I’ll be looking at my list and people will title them funny things too.

EC: That’s what I was gonna say cause people will say you know, “$5 for last night,” (laughter) instead of saying like, “got a drink,” you know? (laughter).

ZJ: Why do you think it’s more weird, I guess, than seeing someone update their Facebook status?

Participant: I guess it scares me that you can send money that easily. It just...the whole concept scares me, but I’ve also never used it so…

ZJ: Okay.

Participant: It sounds really cool to use it for bills cause like sometimes it gets...

Participant: Or like the dinner thing that sounds cool.

Participant: Yeah, it just makes things more convenient because I forget things a lot.

Participant: Yeah, it helps for like concerts and things too when you wanna like all sit together and you have to buy tickets together.

Participant: Ohhh, that’s a good idea!

Participant: Yeah, like, I can understand why it’s scary, like today when I started looking up the number to like try and contact them I was reading all these reviews like, “My money was -- I never got it,” and “Venmo sucks and they didn’t pay me,” you know people have different experiences so like today I was like, “I’m about to be one of these people!” (laughter). I was so upset, but I don’t know, um, so I can definitely get why cause you don’t, we don’t fully understand how it works so it can be weird to participate with it.

EC: Um which tool? Which of these seems the most trustworthy to you guys? Venmo, Apple Pay, Google Wallet, or Snapcash?

Participant: I’d say Apple Wallet or Google Wallet or whatever. Just cause their associated with like big companies that you know. Like Venmo, I’ve never heard of really.

Participant: Yeah, I agree. I think that Apple and Google have like deeper pockets, so like iif you do get hacked like they’re gonna be able to pay you.

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Participant: I didn’t even know that there were like other ones.

Participant: Yeah, I didn’t know that there were either. Like Google Wallet and Apple Pay. Do you guys know which ones are used the most by people with like iPhones?

ZJ: Um, I don’t know. If I had to guess, probably Google, because the Apple Pay one is specifically for iPhone 6 technology. Um, and the way it works is like you basically plug in all of your credit card information. Like people have multiple credit cards and you can scroll through um and then choose the credit card you want and then scan it.

Participant: Yeah, you can like go to buy groceries with that right?

ZJ: Yeah exactly.

Participant: Oh, wow.

Participant: You literally don’t have to like carry a wallet around with you CG: Wait, for the people who have um -- wait, how many people have Venmo? And do you guys like...would you say that like you would rather use Venmo over Google Wallet or would you rather…?

Participant: Does it work the same way? I just, I’ve never heard of Apple Pay or Google Wallet.

Participant: I just use it differently...like Google Wallet wouldn’t work for what I wanna do...or maybe it would, I don’t know like that much about it, but it looks like Google Wallet is like a check-out or like has your credit cards, whereas most of the time when I use Venmo, I’m transferring money to another person because like, I owe them like 5 bucks.

Participant: Venmo’s more social, like for social usage more than I think like Apple Pay is.

Participant: I just use Venmo because I have to pay my friends and they have Venmo. That’s the only reason I don’t use the others.

CG: But like, you would say that you trust Google more than you trust Venmo with your money?

Participant: Mhmm.

Participant: Yeah, I have Apple Pay set-up on my phone.

EC: Did you guys just all decide to get it or did just one person hear about it and then --?

Participant: Well, I owed people money, that’s why. (laughter).

EC: Yeah. Do you think that the geographic location would change you getting or not? Or like you using more or less? Like if you were in a city versus somewhere else?

ZJ: Versus Williamsburg?

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EC: Yeah versus Williamsburg. If you were in DC versus Williamsburg, do you think that would make a difference?

Participant: I feel like it would, just because there are so many more people in other cities. Like back home, I spend more time in Virginia Beach and I probably be using it more just cause you come into contact with people...with like more people more often. Just like the activities I guess that you would do in like DC or New York City, it’ll just be more convenient instead of like having to keep track--like if I just had to keep track of stuff on my debit card and all that instead of just, like I have an app that I know keeps track for me and can dish it all out. It just depends, I guess yeah, depending on where I would live.

ZJ: Yeah. Does anyone else feel that way?

Participant: Yes. Participant: Yeah.

Participant: Yeah and I think what she said about it being social like typically in bigger cities there’s more things to do, you’re probably going to be more social with people and your friends.

Participant: Well, it’s also nice because you like don’t necessarily pay someone. Like someone can send you a request for money too, so it’s a really easy way to keep up with like who owes you money and who you owe money to because like you can forget that like -- they automatically just send like a request to each person who owes them like $10, then you have that notification that you owe so and so $10 and you can send it to them. So it’s like an easy way to keep track of things.

EC: Going off of the fact that you mentioned the social, do you think that that attracts you more - the social aspect -- do you think that that attracts you more to Venmo? Because it is like a social newsfeed almost.

Participant: Yeah, I just um, I think, so for Venmo specifically, I had never even heard of the other ones. The only reason I heard about Snapcash is cause I got a notification through Snapchat, but I didn’t even hear about the others one and everyone on our college campus who I’ve known is like, “Oh, just Venmo me!” and I’m like, “What the heck is Venmo?” so it was one of those things where I found out through other people, whereas I feel like people aren’t really talking about the other ones that you mentioned as much.

EC: Anybody else feel that way?

Participant: I agree. I think there’s definitely a social aspect.

EC: Cause like I got it for just this reason...when I got on it, I was reading what people were paying other people for and I was just dying laughing.

Participant: Yeah, it’s funny.

EC: It is FUNNY, funny stuff.

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ZJ: Would you ever just open the app to see what people are paying for, without like -Participant: I’ve never done that. If I’ve read other people’s stuff is cause I already had it open for my own reasons, but now I’ll probably do it now that you’ve put that in my head. (laughter).

EC: Okay, so we have two scenarios that I’m gonna read you guys and you guys just tell me what you think. The WIlliam and Mary bursar’s office now has a Venmo account. You can now pay your outstanding balance of $1,000 through Venmo, cash, check, credit or debit card. Cash and check still require an in-person visit, while credit and debit still require loading eServices through your desktop. Which option do you choose and why?

Participant: I would pay through Venmo. It’s convenient. You don’t have to go in. I’ve gone to the bursar’s office so many times to pay like 25 cents and been like, “This is so dumb.”

(Laughter).

EC: Everybody agree with that?

Participant: I would, for $1,000, I’d probably do debit or credit. If it was like 25 cents, I would use Venmo, but like for a large sum of money, I probably wouldn’t use it.

Participant: Yeah, it makes me nervous.

Participant: I think just large sums is what makes me nervous about using those virtual, digital sites. I mean for $50, if I lost it, it wouldn’t be that big a deal, but $1,000 I’d be pretty upset.

ZJ: Even if it’s WIlliam and Mary, like something you can trust? If it’s like $1,000 to your friend, you might not ever see that again, but William -Participant: I just feel like William and Mary...I don’t think WIlliam and Mary has its technology all up-to-date all the time.

Participant: I think it’s like the idea too of Venmo being that middleman. It’s like yeah, your account says you gave it to Venmo, so it’s already out of your account, but then William and Mary hasn’t received it. It’s the idea of like this mysterious middle man. Like uhh they have $1,000. Like today with my friend, when I thought I didn’t get her -- it was like an easy like 5, 6 bucks, but she had like before paid me like $200 over Venmo for the trip and she’s like, “I’m glad it wasn’t that payment that were having issues with,” so like it like, I don’t know just made me think about it, like “oh dang.” Granted mine was just me being stupid, but like other people have had real issues.

EC: Anyone know if there’s a limit on those apps?

Participant: Yeah, there is. I don’t know what it is on Venmo, but there is one.

ZJ: It’s like, when you first sign up there’s a limit, it’s like $300 you can spend and transfer until you put in your social security number and once you do that you can spend more. Social security number...does that freak people out?

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Participant: Yeah. I hate when I get asked for social security numbers.

Participant: Do you know if Venmo will allow or like take out, if you don’t have enough money in your account and cause an overdraft?

ZJ: I don’t know actually.

EC: I think it has a lot to do with your bank as too.

Participant: I think that they would just automatically take it, right?

EC: I think if your bank -- cause I know my account won’t let me go below zero. We set it up like that. So if I go to the grocery store, it would just decline because I wouldn’t be allowed to go under.

ZJ: Yeah and my account doesn’t do that. (Laughter). I get charged like crazy.

EC: That’s why my parents changed it, cause I was getting charged all the time. Okay, scenario two: Your best friend just snagged two tickets to the now sold out Justin Bieber concert knowing you’re the biggest, baddest fan. The problem is, he lives a few hundred miles away. Since both of you have a cash-sharing app you can pay him back through the app, traditional online banking, or in cash on the day of the concert in three months. How do you pay him back? Why? Participant: Venmo.

Participant: Venmo.

ZJ: What about you with the Wells Fargo app I think you said? Would you use that or cash, Venmo?

Participant: Uhh, I don’t know cause...how much was it?

EC: $30.

Participant: Just $30? I’d probably do $30 over Venmo. But like for me I have no problem waiting. Like if it’s somebody I know, I have no problem waiting to make the transaction on the day of the concert, so either way would work.

Participant: This might sound dumb, but it also relies like if there’s any type of tension about asking for money, even if it’s rightfully yours because you paid for something, it kind of like diminishes that awkwardness of like, “Oh heyyyy you owe me 10 bucks,” or “Oh hey you owe me $50,” like you can just send a little reminder and then the person can be like, “Oh, okay whatever.”

EC: Oh, there’s reminders on there?

Participant: Yeah, you can send them a reminder or like a request for the money.

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Participant: Yeah, I send my housemates lots of requests. (Laughter).

Participant: So I don’t know if people feel awkward about that, but it like diminishes the awkwardness.

Participant: Yeah, that’s what I was saying earlier about sending people requests.

Participant: Exactly.

EC: Gotcha. Are there any other factors we haven’t covered that you believe affect whether or not college students would use these or not? And is there anything else you’d like to share?

Participant: Is the Google Pay one only for like Androids or is it for like everything?

ZJ: It’s for everything.

Participant: Oh, okay.

Participant: And can you pay, like could I pay her on that or no? Is that just for like going to the mall or something?

ZJ: I think going to the ball, but -Participant: Wait, what?

ZJ: Is that what you said? The example?

Participant: The mall. (Laughter).

ZJ: Yeah, the mall. Yeah… (Laughter).

Participant: So those are set-up as your card? Like you can scan your phone?

ZJ: Yeah, basically.

Participant: Are stores equipped for that? Like I haven’t seen anything in stores...

ZJ: Some stores are. Um, I can’t think of a store around here that has it, but like I’m from New York and a bunch of stores have it, like you can just tap your phone.

Participant: Oh, that’s cool.

Participant: Starbucks has “Square” too right? In New York?

ZJ: Uhh, yes? I think so?

Participant: That’s the square one in all Starbucks that you can just hold your phone up to.

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ZJ: Yeah, yeah.

Participant: Oh, I have that too. Like your Starbucks card that you transfer money to.

Participant: Yeah.

ZJ: Starbucks is one of those companies that I think is also considering getting a Venmo account.

So they’re like ahead of the curve.

Participant: Really?

Participant: And they just use like the scanner thing?

Participant: So you can Venmo Starbucks there?

ZJ: Potentially, yeah. That’s like what Venmo’s thinking about um, toward expanding. Like getting different stores to join them.

Participant: Woah.

Participant: That’s crazy.

Participant: They would make so much money. Like buckets of cash. (Laughter).

Participant: Seriously.

Participant: I heard with Venmo, when I was reading things today, that if you pay somebody, it goes out of your account and into Venmo, but they have to like cash-out too and I heard that if you like wait too long then there’s like an expiration on it. Like if you wait a month and that money is like sitting in your account and they don’t cash it out, then it’s gone. I don’t know if that’s true, but I read that in a thing today, so that might be a reason why somebody might not do it.

Participant: I know that’s not true.

Participant: Yeah, that’s definitely not true.

Participant: I haven’t cashed out money in my account for like the past 3 months.

ZJ: Why do you leave it in your account instead of just cashing out?

Participant: Um, one I forgot about it. I just cashed it out, it was from like it was from my friend.

Participant: Well and can’t you also use what’s in your pot to like repay people?

Participant: Yeah, yeah, that’s the other thing.

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Participant: Yeah, it’s like kind of like your little Venmo account when people pay you back, you can like use it to pay back other people. So it’s just like you only cash-out really if you like want the cash in your account, but if you use Venmo a lot, it’s a good way to kind of like keep it there.

EC: Does it automatically go into your bank?

Participant: No. Participant: Once you choose to cash-out.

EC: Well, I know, but once you cash-out it just shows up?

Participant: I think like one day later.

Participant: Yeah, I think sometimes it can be like depending on the time of day you do it. It can either be like by the end of the business day or the next day.

EC: Why do you think that people are getting it now, instead of getting like the things that were before Venmo? Like the other cash-sharing apps that were before Venmo? Do you think Venmo is just like the new thing and just sort of popular and there’s a newsfeed so it’s a lot like Facebook and Twitter and stuff like that and Instagram?

Participant: Yeah.

EC: You think that’s probably why?

Participant: Yeah and it’s also like who has it. Like a cash-sharing app, if no one has it, is irrelevant, cause you can’t pay anyone unless there on it, so I think Venmo just has a good following.

Participant: I think the social aspect of it definitely plays, um a big role cause that’s kind of what our generation is known for.

EC: Yeah.

ZJ: Do you guys all have Facebooks? Twitters? Instagrams?

Participant: I don’t have Instagram.

Participant: I’m not on Twitter.

Participant: So what happens if you don’t -- like if I owe you money, but I never pay you? You know what I mean?

Participant: (Laughter). I think that’s outside of Venmo and you gotta be like, “Hey…” ZJ: Yeah, you’ll have to meet the real middle man.

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Participant: No, but like, I don’t know, if you request it -Participant: Yeah, if you like keep requesting it and they don’t pay you…

Participant: I think that has to be an outside confrontation. (Laughter).

Participant: Oh okay, I didn’t know if something happened.

Participant: I know. It’d be cool if like Venmo said, “you didn’t pay, so we’re automatically kicking you off of Venmo,” but like they don’t do that.

Participant: And you do get a notification if you get denied and it’s just like, “They cancelled your request.” (Laughter).

Participant: You’re right! You’re right! You can do that. I forgot about that.

EC: So you know that they’ve seen it?

Participant: Yeah, yeah. Exactly.

EC: That’s funny. That is funny. Is there anything else?

CG: I have a question. If like the Google Wallet or Apple Pay adopted like the same features as Venmo, would you switch to like Apple Pay or Google Wallet?

Participant: I’m sure people would.

CG: You would?

EC: Just because you think you’d trust it more?

Participant: Everyone trusts Apple with their lives so…

EC: Yeah.

Participant: And they have a good reputation. Like I personally don’t know about Venmo, but I know like a lot about Apple.

Participant: Yeah, and Google.

Allee Lizama: Did you guys know that Venmo is owned by PayPal? Participant: No. Participant: Yeah, I actually found that out today.

Participant: Oh really?

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Participant: I think the only thing you’d run into is the same thing you kind of run into with like iMessage and text messaging when someone doesn’t have like an iPhone and there will be kind of a communication error with people who use Apple Pay and with people who don’t have iPhones cause I think Apple Pay is solely an app for Apple products.

EC: Yeah. Mhmm.

Participant: I feel like the banks will start doing it...like SunTrust will come up with a way...you know what I’m saying? And then like that would be the one I would use over Google Pay or anything because it would just be straight from my bank.

ZJ: Does that change your perception of Venmo, for people who didn’t know that it was owned

by PayPal? Slash, does everyone know what PayPal is?

Participant: Yeah.

Participant: I think like, I know a lot of people who use PayPal. Like I don’t personally. I don’t have an account but -Participant: I trust PayPal. I’ve used it a lot.

Participant: I think it gives them like more credibility just cause PayPal’s been around for forever.

Participant: Yeah.

ZJ: Yeah.

EC: Anything else? Okay, well thank you so much for participating. The purpose of this study is to understand college students’ perceptions and adoption patterns of Venmo, Apple Pay, Google Wallet, and Snapcash. The research was designed to give insight on the spending habits of your particular demographic. This information would be used by customer service and development departments for each tool. So, thanks guys!

ZJ: Thank you guys so much.

CG: Thank you very much!

Appendix E: Underclassmen Focus Group Transcript 3:09 - 3:32 March 1, 2015 There were 5 participants present.

Emory Camper: OK. Thank you for being here guys. My name is Emory.

Caroline Goh: I’m Caroline.

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Pei-Tzu (Ival): I’m Ival.

Zoe Johnson: I’m Zoe. Allee: I’m Allee.

EC: So, we want to understand college students, specifically William and Mary undergraduates’ perceptions and use of digital wallets and cash-sharing Apps. So we are going to ask you guys a couple of questions just to gain knowledge and understand why. This is gonna be recorded just as you guys know. Is that cool?

EC: So, as a participant, please honestly respond to as many questions as you can. Please keep in mind that there are no right or wrong answers to our questions just different points of view.

Please silence all your electronic devices if you can. All of your answers and responses will be completely confidential. You will not be specifically named in any of data that is submitted as part of our final project. Please try to stay on topic as much as possible so that we do not go over our time limit. Please respect your fellow participants--allow others to finish their thoughts before providing your insight. Okay so, first question is, do you know what cash-sharing apps or digital wallets are? If so, which tools have you heard of?

EC: Anybody knows what cash-sharing App is?

Participant 1: Yes. EC: Can you explain a little bit?

Participant 1: You can cash to people. It’ll be the App instead of like having giving them cash.

Participant 2: Like Paypal?

EC: Yes. Like Paypal. Does anybody have one?

Participant 2: Yeah.

EC: So we got one. Yes. Ok. Can you describe it?

Participant 2: Well, this.. the one I have you have to have like an attachment where you can swipe the card for people to pay for different thing. You just enter the amount that you want and swipe your debit or credit card, and…

EC: Oh that’s cool. So you have that little thing that you put your phone?

Participant 2: Yeah.

EC: Oh that’s awesome. So, we’ve already talked about which one you have. If you haven’t downloaded any of these apps, can you explain why?

Participant 3: I don’t have use for it.

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EC: Ok. Is that pretty much it?

Participant 3: Yeah. I’ve never had to send money. Usually I just do it in person.

EC: Do you think you’ll get it like once you move into like a house for utilities and stuff like that? What’s the year grade you guys? I know (you’re) freshman and freshman.What year are you?

Participant 4: I’m a sophomore.

Participant 5: Sophomore.

EC: Are you guys on campus?

Participant 5: Off campus.

EC: Off campus. Ok. So you do have roommates?

Participant 5: Yeah.

EC: So, would this help in any way with like bills, utilities, and stuff like that you are just able to pay them (snap fingers) through app.

Participant 5: I think it should….. it would. Ummm… Yeah. If I want to just send money right away, that would make things simpler.

EC: Yeah.

Caroline: Anything before this, did you have any idea what cash-sharing app like Venmo or …?

Participant 5: I mean, Ummm, doesn’t Snapchat have like…?

EC: Yes. What’s the reason you don’t use that?

Participant 5: Uh… I don’t particularly trust it right now. I haven’t tried, but like..

EC: I can completely understand. Do you have any reason why you don’t trust it?

Participant 5: Ummm… Not really. I mean, it’s Snapchat, so…

EC: Yes. I mean I understand. Cause I mean, with like the leaking of photos and stuff like that I can understand why you don’t trust that. But any other reason for other apps?

Participant 5: Umm.. not really. I guess not.

Participant 1: Would you count banking apps like scan your check with that counters like a cashsharing app as well?

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Zoe: Yeah. There’s more like digital wallets kind of app, but we considering those too. Do you use it?

Participant 1: All the time.

Participant 2: Yeah. I use Wells Fargo.

Participant 3: I use Wells Fargo too.

EC: Ok. What is the primary reason why you downloaded those apps?

Participant 4: Cause I can mobilily deposit my checks. Yes. Participant 5: Just like check analysis.

Participant 6: Yeah. Keep tracking them.

Participant 3: Transfer money from my savings to my checking.

Participant 4: I just like putting my money in… I don’t like checking.

(Laughter) Zoe: Have you guys ever transferred money to someone else’s account? Like with my Bank of the America mobile app, I can transfer to someone else’s from my Bank of the America bank account. Who guys have done that before?

Participant 2: Oh, no no.

Participant 3: No no.

Participant 4: I’ve only transferred from my savings to my checking.

Zoe: Yeah.

Participant 4: That’s it.

EC: Do you think there is a reason why you trust those apps more than you will like Venmo or anything? You mention trust, anyone else, any other reason?

Participant 2: They are more established.

Participant 3: Yeah, and they are attached to the bank, which I mean … reliable trusting.

EC: Ok. Ummm, so what types of products and services do you buy during the average week?

What kind of transactions do you most frequently engage? And on the apps specifically?

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EC: I kinda guess you guys don’t really.. You mention you don’t really use those apps. So what kind of stuff do you guys buy during average week?

Participant 2: Mostly food.

Participant 5: Food.

Participant 3: I like to online shop. So, clothes, food.

Participant 4: Groceries.

Participant 1: Drinks.

EC: So, if you have the app, do you think you would use it during the week?

Participant 2: No. EC: No? Participant 5: No. It feels like the app, I guess, is more, for like, I guess, for bigger transactions, since stuff like just small, like under hundred dollar transactions. From the card, that’s more like house payments or some other types like insurance or something that you have to like collectively, I guess, transfer to someone else.

EC: So, could you see yourself like, let’s say one of your friends forgot their wallet or something like that, using that and you say, “Hey, just Venmo me 5 bucks.”

Participant 3: I feel like we should do that because all the time we talk about how we pay each other back, try to keep tabs, and someone is just like, oh you pay for this time, ...

Participant 4: Pay for each other’s stuff.

Participant 3: Yeah. I think it will be easier to keep it even, cause right now I don’t really know how much money you owe me.

Participant 4: Really? You owe me $20 dollars for … that you don’t use.

(Laughter) EC: And I mean that App also keeps track of it too. Like you can send reminders saying, “Hey, you owe me $20 dollars.” Instead of … Considering how awkward to say “Hey you owe me 20 bucks and I don’t know you that well, but you do.” You know what I mean?

Participant 3: Yeah.

EC: So, ...

Participant 4: Are you talking about Venmo in particular?

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EC: Oh, I know Venmo does. I don’t know about other ones. Do you know any other ones?

Zoe: With the reminders?

EC: Yeah.

Zoe: Uh, Venmo specifically, yes.

P: With that aspect, yeah, I think it’ll be good to get the app.

P: So, how do you use that, for like going to food lion, or like whatever, how’s that different like swiping the cards, like transferring to the food lion account or something?

Zoe: Well, Venmo or Snapcash don’t have this functionality yet. They’re thinking about working the way that Google Wallet and Apple Pay do. So basically like you plug into your credit card information to your phone, and then you just like purchase items and then swipe your phone. So you don’t have to bring your wallet, basically.

P: I feel like that could be dangerous though.

Zoe: Why? P: Because everything is on your phone, then someone could easily obtain your phone if you lose it or whatever. I mean if more people do this, then criminals and pick-pockers would be targeting you even more. They’re being able to get into your phone somehow. And using Venmo swiping your phone.

P: Yeah, and hackers like getting in all your banking information and all your money…

P: Yeah, I will feel way more comfortable to just like remember my wallet than putting my personal, like, everything on my phone. So I feel like phones are good for calling, texting, and social media stuff, but putting too much of your valuables in there, it feels like it’s not that safe for me.

EC: What about… does anybody have the phone case that you can put cards in? No? P: I’ve seen them.. but I don’t know.

EC: It’ll be some of the same thing. It’s one.

P: But for me, I’ll never do that. Maybe like William and Mary ID or some type of identification.

But I wouldn’t put my card or anything … I feel like it can easily fall out or… I don’t know. I am kind of protective over my card and money, so I’ll just put them into my wallet. And I remember my wallet.

Zoe: That’s understandable.

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EC: Outside of these Apps, which one of payments do you use the most? Like cash, debit, credit?

P: Debit.

P: Debit.

P: Debit.

P: Debit.

P: Cash.

P: Cash.

P: Cash.

P: Both.

P: Yeah.

P: All the way cash.

P: Debit.

EC: And you use that for like most of your weekly expenses and stuff like that?

P: Yeah.

P: Yeah.

EC: So, for the cash sharing apps, some of them—Venmo for example—they have a feed almost like facebook or twitter, but its’ pretty cool because, I actually got it to understand it but connects to facebook and a lot of my friends have venmo and you can put what—so if I went out to lunch with some of you guys and I wanted to make it funny, I could just say: blah paid me for blah last night, like joking around. People make it a feed that’s pretty funny. Do you think you’d get this app for the social aspect or do you think it’d be just more…’cause it’s the new hip kind of thing because it’s quick and easy and you can just pay someone like that (snaps).

P: Like I made a bet with my roommate, I have to post something.

EC: Yeah, yeah.

P: Yeah, that would be interesting.

P: I would probably just use it for its purpose, not the social aspect.

(Agreement) That’s understandable.

CG: What’s the social media platform that you use the most?

P: Twitter.

P: Instagram.

P: Does snapchat count?

P: Yeah, snapchat.

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P: I don’t know, facebook too.

P: I kind of use them all but yeah, snapchat, instagram.

EC: So a lot of your hesitation to getting this is trust, right?

P (all): Yeah P: Yeah, ‘cause like, twitter, snapchat, instagram—all it is. is just your personality, your face.

Maybe your birthday, maybe your street address if you want to put that out there, but it’s not your money.

EC: Right.

P: Like, this is your money. Maybe somebody could find a way to hack into that. So, that’s…yeah, trust is the biggest thing with me.

EC: Would you be more hesitant to use something like Venmo than, let’s say, like Apple Pay or Google Wallet? Which one of the three would you pick: Apple Pay, Google Wallet, or Venmo?

P: Apple Pay. P: Apple Pay. P: Google Wallet.

EC: And what’s your reasoning for those?

P: Because it’s a more established company. I trust them more.

EC: And so, if you did have these apps, do you think you’d have a lot of hesitation towards spending a certain amount of money through that?

P: Like would you have a tighter wallet?

EC: No, like would you set a certain limit. Like, I’m going on a trip over spring break and that’s how we pay each other on the trip and someone sent $900 over. Would you be more hesitant to send a large amount of money?

P(All): Yeah.

EC: Even on Apple Pay or Google Wallet?

P: Yeah.

EC: What’s your reasoning for that?

P: It’s a lot of money.

P: If one transaction falls through then that’s a lot to lose.

P: Is there like, any surcharge for like, putting your money into someone else’s account?

EC: No, if it’s a credit card, yes, if it’s a debit card, no.

EC: Okay, so I’m going to give you guys two scenarios and see what you guys’ll do. So, The William and Mary bursars office now has a Venmo account. You can now pay your outstanding balance of $1,000 through Venmo, cash, check, debit or credit card. Cash and check will still require an in-person visit, while debit and credit card still require loading eServices through your desktop. Which option do you choose and why? Now, Venmo is very quick, just so you know.

You put your money in, you send it to that person, and all they have to do is unload the money— check out—and it all goes straight to their account.

(Extended Pause) P: Venmo?

P: What are the options?

EC: It can be anything—credit, cash, debit, or Venmo.

(Extended Pause) P: Venmo.

P: Venmo.

EC: Because it’s quick?

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P: It’s the most efficient way.

EC: Instead of having to walk in or download the eservices or stuff like that?

P (all): Yeah.

ZJ: Even if it’s $1000, it doesn’t freak you out?

EC: Yeah, you guys just mentioned that $900 is a lot of money.

P: Yeah.

EC: Do you think because it’s William & Mary you trust it more?

P: Yeah.

P: Yeah.

EC: What if it was your best friend instead of William & Mary?

P: Is it the same amount of money?

Collective pause EC: Now, this is your best friend.

P(all): Yeah.

EC: Second scenario: your friend has just snagged two tickets to the now sold out Justin Bieber concert, knowing you’re his biggest, baddest fan. The problem is, he lives a few hundred miles away. Since both of you have a cash-sharing app, you can either pay him back through the app, traditional online banking or in cash on the day of the concert in 3 months. How do you pay him back? Why? P: How much for the tickets?

CG: Let’s say $200.

P: $200…so the choices are Venmo or cash basically?

EC: It’s Venmo, traditional online banking— ZJ: Like those banking apps you were talking about before.

EC: Or cash the day of the concert.

P: Cash the day of the concert.

P: Yeah, cash.

ZJ: Why? EC: What if your friend was pressing for that money? It’s $200, it’s a lot of money for someone to be out for three months.

P: If he’s pressing, then yeah, I’d do it through Venmo. If he isn’t, then cash.

P: I think I’d do Venmo no matter what so I won’t have to take it out and bring it, maybe lose it.

Especially at a concert.

P: But you’d be paying him before the concert.

P: True.

P: Then he could lose it and that’s his fault. I still wouldn’t do it.

P: Question, does Venmo work internationally? So if you wanted to send money to someone in like, China or something, could you?

EC: I think since it’s an app, it probably does, ‘cause anybody can get it.’ But that is a good question.

ZJ: Yes, I’m not entirely sure but the people you can contact is predominately your facebook friends, so I don’t see why you wouldn’t be able to but I’m not sure.

EC: Pretty much, when you first get it, you put in your routing number ZJ: But you don’t have to do that EC: If you want to send over a certain amount…what is it?

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ZJ: It’s like, if you want to send over a certain amount, like more than $300 or receive more than $300, you have to put in your social security number. You don’t have to put in your routing number ever, you can just go off your debit card. But if you put in your routing number, it’s basically real access into your bank account.

P: So does it also convert? Like, oh I’m sending over to my best friend in France but it’s in dollars—dollars to Euros, does it do that?

EC: Good question.

AL: Let me see if any of my international friends come up.

EC: That’d be pretty cool. Are there any more factors to whether or not college students would adopt digital wallets or cash sharing apps?

AL: Are you guys interested in seeing Venmo?

P: Yeah.

AL: I can like, read you my feed or show you to get a better feel of what it’s like. So, one of my friends paid another friend for rent, for heat, for rent, fun fun fun, saving the day, drinks, emojis with food, mad dragons—goes on. It’s like your facebook friends—one friend paid another and it’s like all your facebook friends and if you go to send out money, you’ll write out who you’re sending it to and you can choose if you want to make it public or private and it won’t show how much, and it’ll come up on the feed. They’ll receive a notification that you’re paying them, and you can also send a notification for somebody to pay you. If you send a notification, it won’t just pay you, they’ll have to approve it. You can just deny them and then the other person will get a “denied”. That’s more about how it works.

EC: And mine is a little bit more inappropriate than hers. Mine is a lot of athletes. So it starts with living expenses, friendship, the wop, thanks for the water, friendship fees, making a cat sandwich… There’s just everything—it’s just some funny stuff that people put on here.

P: Now it’s just every time you pay somebody? So every time you pay somebody, you can write something.

EC: Yeah, right, so Kevin Hart paid Michael Yankovich for rent. Just stuff like that.

Zoe: It’s like a twitter feed almost.

P: But you can make it private so you don’t have to post something if it’s like, actually serious.

EC: If you don’t want to post why you paid someone, you don’t have to at all.

AL: And it never posts the amount you sent so people don’t actually know how much money are going through your transactions or anything.

EC: One more question is: is there a specific geographic location where you would use these apps more or less frequently. So, for example, if you were in the city, like New York city, do you think you would use these apps more than if you were in the country?

P: Yeah.

ZJ: You said yeah, why do you think?

P: I think there’d be more opportunity to use it in the city. Like if I’m in Southwestern Virginia, then I’d be like oh, cash is easier because I don’t know, it just seems more relevant there than in the city.

Participant 3: Yeah I’d use it more while I’m at college than when I’m at home.

ZJ: You think that’s ‘cause you spend less money while you’re at college?

P: No, I spend a lot more.

(Laughter and Agreement) P: Yeah, a lot more of your own money at least.

ZJ: Anyone else agree or disagree?

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P: I agree with the city scenario.

ZJ: Yeah, it’s interesting for me because I have Bank of America and I don’t have a car here so it’s like, very hard for me to take out cash. But I also live in a city and there’s a BOA on every single corner so I feel like either option will work, depending…

EC: Is there anything else you’d like to share before we end the session?

P: Do you think these apps could like, cause more criminal activity?

I don’t—I know that Venmo is FDIC Approved (Yes) so I don’t think—I don’t know if you can set it up to have a password to get on that app, um.

P: I’m talking about the transactions, like what you’re paying for.

EC: What do you mean?

P: Like, drugs, sex, ...

EC: Oh, I see what you mean. I can see how it could help it more, I can definitely see that.

P: Like if you don’t have cash.

EC: Yeah, if you don’t have cash you could pay them like that instead of having to go to the bank.

P: That makes Gambling easier (Definitely), like you mentioned poker earlier. That would be so easier.

P: Yeah.

I think that could cause people to spend more money too because you don’t have to worry about just the cash you have in your wallet. It’s like, I’ll just “Venmo” it to you.

P: Yeah.

P: And you could owe people a lot of money.

P: Yeah, like the excuse “I don’t have any cash on me” isn’t an excuse.

P: Yeah, tabling would be so easy.

(Agreement) ZJ: That’s true actually, like different clubs— PL: So like if Venmo limits you so you are not able to owe someone or other people—like there’s a limit on the money you owe to people, then will you be more willing to use Venmo over other cash sharing apps.

P: Yeah, that would make sense. If there’s a limit to how much you could owe other people, then I think I’d use it more. Kind of, makes you have more self-control.

P: You can stop buying stuff if you have too much.

EC: Anything else? Any more questions?

P: Is it free?

ZJ: Yes. AL: I don’t know if it’s happened yet but I think Venmo is in the works that you can put a pin in to get into the app.

P: That would be smart.

ZJ: They definitely have some problems regarding security. Like, they don’t have a phone number when you want to call them, you have to tweet at them if you want to contact them.

EC: But they’re very quick in response.

P: Have you guys had problems with Venmo?

EC: I personally—she (AL)—her boyfriend uses it a lot. I got the app just for this reason (The study) but after some of the upperclassmen—my roommates—were in here, they said they’d get it. Like, they said they were going to get it right now because it’s just so much easier.

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ZJ: I’ve personally haven’t had a problem with Venmo. I had my bank account information stolen twice this past year but I don’t attribute that to Venmo, I don’t think there’s anything to prove that that was Venmo’s fault.

[General security discussion] CG: So who is considering—like, would you get the app after this discussion?

Resounding yes, participants raised hands immediately P: Especially living off campus this year.

P: Yeah.

P: Cause like, if everybody owes you money—if everybody puts money into your account and you’re directly in contact with the renter or the owner of the house, then it’d be easier for them to send you money and you can give all that money that everyone sent you to the owner.

P: You won’t have to write checks anymore.

EC: Exactly, you won’t have to write them. It’s so much easier. And I know there’s direct deposit but it’s so much easier with smaller amounts.

AL: Direct deposit is such a hassle. Last year when I was living off campus, we tried to make an account that we could all transfer money into. It took like, three days, we had to pay a fee to put money into it. Now my boyfriend, like for his house, all of the utilities—he pays for the internet and stuff—so it’s his name on the bill and he sends out alerts like a week before the bill is due so he can make sure he can pay it through Venmo because bugging people for money just gets painful. So it’s interesting.

EC: And the reason why my boyfriend got it was because we are going on a spring break trip and one of the people who are coming couldn’t get the money automatically so we couldn’t pay for the trip without having that money in the bank account. And so she sent over the money automatically and it was in the bank account so we could pay for the trip that morning. So it’s just so much quicker. Like, oh you live three hours away, so you could write us a check that’ll come in two days or, you know, so.

P: Then you’d have to cash that check.

EC: Yeah, so it’s much quicker and it just shows up automatically. Any other thoughts?

[Thank yous, etc. ]

32

Camper, Goh, Johnson, Lin, Lizama

Appendix F: Top 5 Codes Overall - Pie Chart

Appendix G: Comparison of Code Mentions by Age Group - Bar Graph

33

Camper, Goh, Johnson, Lin, Lizama

Appendix H: Qualtrics Survey

34

Camper, Goh, Johnson, Lin, Lizama

35

Camper, Goh, Johnson, Lin, Lizama

36

Camper, Goh, Johnson, Lin, Lizama

37

Camper, Goh, Johnson, Lin, Lizama

38

Camper, Goh, Johnson, Lin, Lizama

39

Camper, Goh, Johnson, Lin, Lizama

40

Camper, Goh, Johnson, Lin, Lizama

41

Camper, Goh, Johnson, Lin, Lizama

42

Camper, Goh, Johnson, Lin, Lizama

Appendix I: Qualtrics Survey Results 1. Which cash sharing or digital wallet mobile applications are you currently aware of? Please select all that apply.

#

Answer

Response

%

1

Google Wallet

50

38%

2

Apple Pay

74

56%

3

Snapcash

48

36%

4

Venmo

84

63%

5

Other

16

12%

43

Camper, Goh, Johnson, Lin, Lizama

Other None The Starbucks App None paypal none Does pay pal count?

Square none none Bitcoins Splitwise None of these...wow I'm a loser none None None

Statistic

Value

Min Value

1

Max Value

5

Total Responses

133

2. Which of the following cash-sharing or digital wallet mobile applications have you personally used before? Please select all that apply.

44

Camper, Goh, Johnson, Lin, Lizama

#

Answer

Response

%

1

Google Wallet

7

5%

2

Apple Pay

3

2%

3

Snapcash

1

1%

4

Venmo

46

35%

5

None

80

60%

6

Other

5

4%

Other The Starbucks App paypal Square None Square cash

Statistic

Value

Min Value

1

Max Value

6

Total Responses

133

45

Camper, Goh, Johnson, Lin, Lizama

3. If you have downloaded a cash-sharing or digital wallet mobile application, why did you initially start using it?

Text Response Test- Zoe My friends told me it was easier to use to pay people back rather than paying with cash or check.

Convenience Someone asked me to pay them on venmo Someone asked to pay me using Venmo N/A My friends had it first Never downloaded a digital wallet.

N/a n/a N/A N/A I never have cash on me. n/a n/a Had to pay a friend but didn't have any cash at hand. n/a Paying back friends To pay friends My friends used it don't use it

46

Camper, Goh, Johnson, Lin, Lizama

Didn't have cash to pay a friend back, easy to use venmo to pay back immediately.

Downloaded Venmo to give friend beer money never downloaded one I haven't downloaded it To pay my rent this summer no N/A N/A N/A Because I never carry cash NA N/A Haven't used So I could transfer money to friends (I never have cash) Convenience - I was getting tired of having to calculate how much cash I owed my friends!

Paying rent and utilities with my housemates I started using venmo because it made living with friends easier/ more convenient.

Specifically, splitting taxi ride costs.

My roommates suggested I get it to make simple transfers for utilities and rent.

Necessary to do an order for a group.

N/A N/A Ease of payment. n/a

47

Camper, Goh, Johnson, Lin, Lizama

To pay a friend back for something. I didn't have enough cash and I didn't feel like taking money out from the atm since the atm charged a fee.

Don't have cash on me. Needed to share the cost of purchasing an item with friends N/a Easy paying friends Makes it easier to coordinate rent and bill payments within a house of multiple roommates My roommates and I use it to make paying rent easier. And for utilities. We split those responsibilities at the beginning of the year, and this helps us reimburse each other.

Friend owed money who wasn't from around here I needed to pay my friend, she told me about Venmo, so I got one!

Convenience More convenient than PayPal Friends told me to download, easier for repayment of split checks and such Spring Break payments Dev Research NA simple to give friends money Because my friends were using it to pay each other Only accepted form of payment for that service Money transfer with high school friends at other schools N/A Others use it.

A lot of my friends were using it. Seemed like a practical solution Convenience Pressure from friends 48

Camper, Goh, Johnson, Lin, Lizama

Made it easier to give small amounts of payments to friends and family without drawing out cash.

To receive money from a distant relative.

I don't have one but my friends use it to split bills at restaurants. One person pays and then we send that person money via the app Na n/a Easier especially when I'm already out Convenience Friends were using it I haven't downloaded any cash-sharing apps.

N/A Left cash at my friends house Test-Zoe N/a N/A Pay rent/groceries with roommates To make it easier to pay bills with my roommates. everyone else had it

Statistic

Value

Total Responses

84

4. When did you first start using cash sharing or digital wallet apps?

#

Answer

Response

%

49

Camper, Goh, Johnson, Lin, Lizama

1

Within the last 2 weeks

0

0%

2

Within the last month

5

4%

3

Within the last 6 months

20

15%

4

Within the last year

23

17%

5

Longer than a year

5

4%

6

Have never used before

80

60%

Total

133

100%

Statistic

Value

Min Value

2

Max Value

6

Mean

5.02

Variance

1.73

Standard Deviation

1.31

Total Responses

133

5. Do you live on-campus or off-campus?

#

Answer

1

On-campus

Response

%

82

62% 50

Camper, Goh, Johnson, Lin, Lizama

2

Off-campus

51

38%

Total

133

100%

Statistic

Value

Min Value

1

Max Value

2

Mean

1.38

Variance

0.24

Standard Deviation

0.49

Total Responses

133

6. Please adjust the sliding scale in response to the following questions

#

Answer

1

Approximately what percent (%) of your personal income goes toward rent/utilities?

Min Value

Max Value

Average Value

Standard Deviation

Responses

0.00

100.00

28.02

25.96

49

7. How many people (including yourself) contribute to your rent/utilities payments?

#

Answer

Response

%

1

1 (self)

5

10%

51

Camper, Goh, Johnson, Lin, Lizama

2

2-3

29

59%

3

4+

15

31%

Total

49

100%

Statistic

Value

Min Value

1

Max Value

3

Mean

2.20

Variance

0.37

Standard Deviation

0.61

Total Responses

49

8. In which location do you use your cash app/digital wallet app the most?

#

Answer

Response

%

1

On-campus

8

6%

2

Around Williamsburg and the surrounding towns

29

22%

3

In your hometown

8

6%

4

While traveling

6

5%

52

Camper, Goh, Johnson, Lin, Lizama

5

I don't use one anywhere

78

60%

Total

129

100%

Statistic

Value

Min Value

1

Max Value

5

Mean

3.91

Variance

2.13

Standard Deviation

1.46

Total Responses

129

9. How would you describe your hometown?

#

Answer

Response

%

1

Rural

13

10%

2

Urban/Major City

13

10%

3

Suburban

87

67%

4

Small City

16

12%

Total

129

100%

Statistic Min Value

Value 1 53

Camper, Goh, Johnson, Lin, Lizama

Max Value

4

Mean

2.82

Variance

0.60

Standard Deviation

0.78

Total Responses

129

10. Approximately how much disposable income (funds not spent on necessities) do you spend per month? (In $ units)

#

Answer

Min Value

Max Value

Average Value

Standard Deviation

Responses

1

How much you spend

6.00

500.00

152.80

118.34

130

2

How much you have access to

0.00

500.00

310.24

156.33

130

11. Where does your disposable income come from? Please select all that apply.

#

Answer

Response

%

1

Current Job/Work

52

41%

2

Previous Job/Work

56

44%

3

Parents or Family

86

68%

4

Student or Private Loans

7

6%

54

Camper, Goh, Johnson, Lin, Lizama

5

Other

10

8%

Other Personal Savings ebay Savings Capital Gains Scholarship investments

Statistic

Value

Min Value

1

Max Value

5

Total Responses

126

12. What percentage of your disposable income do you spend on each of these categories?

#

Answer

Min Value

Max Value

1

2

Average Value

Standard Deviation

Dining out (restaurants, convenience stores, coffee shops, bars, clubs etc.)

0.00

150.00

56.98

31.41

Other forms of entertainment (concerts,

0.00

100.00

14.57

16.69

55

Camper, Goh, Johnson, Lin, Lizama

galleries, museums etc.)

3

Clothing, accessories, and tech items

0.00

125.00

18.20

21.31

4

Other big ticket items

0.00

200.00

5.78

20.73

13. What type of payment method do you use most frequently?

#

Answer

Response

%

1

Debit

79

63%

2

Credit

37

29%

3

Cash

9

7%

4

Digital Wallet/Cash Sharing

0

0%

5

Other

1

1%

Total

126

100%

Other TEST-ZOE

Statistic Min Value

Value 1 56

Camper, Goh, Johnson, Lin, Lizama

Max Value

5

Mean

1.47

Variance

0.49

Standard Deviation

0.70

Total Responses

126

14. On a scale of 1 to 4, rate why you utilize that specific method from the previous question where "1" is the most applicable to you and "4" is the least applicable. Drag the responses in order of preference.

#

Answer

1

2

3

4

Total Responses

1

Trust in Brand / Product

7

41

67

11

126

2

Security (relative to personal information storage)

23

58

31

14

126

3

Convenience

93

21

11

1

126

4

Social Reasons (because my friends are using it too)

3

6

17

100

126

126

126

126

126

-

Total

Statistic

Trust in Brand / Product

Security (relative to personal information storage)

Convenience

Social Reasons (because my friends are using it too)

57

Camper, Goh, Johnson, Lin, Lizama

Min Value

1

1

1

1

Max Value

4

4

4

4

Mean

2.65

2.29

1.37

3.70

Variance

0.52

0.80

0.46

0.45

Standard Deviation

0.72

0.89

0.68

0.67

Total Responses

126

126

126

126

15. How often do you use your cash-sharing app?

#

Answer

Response

%

1

Never

81

64%

2

Once a Month

14

11%

3

2-3 Times a Month

19

15%

4

Once a Week

8

6%

5

2-3 Times a Week

4

3%

6

Daily

0

0%

Total

126

100%

Statistic

Value

58

Camper, Goh, Johnson, Lin, Lizama

Min Value

1

Max Value

5

Mean

1.73

Variance

1.27

Standard Deviation

1.13

Total Responses

126

16. Which of the following digital wallet or cash-sharing apps do you view as the 'highest quality'?

#

Answer

Response

%

1

Apple Pay

27

22%

2

Google Wallet

10

8%

3

Venmo

36

30%

4

Snapcash

1

1%

5

None, I don't like or have never seen any of them

48

39%

Total

122

100%

Statistic

Value

Min Value

1

Max Value

5

59

Camper, Goh, Johnson, Lin, Lizama

Mean

3.27

Variance

2.50

Standard Deviation

1.58

Total Responses

122

17. Which of the following companies do you most most trust with your personal information?

#

Answer

Response

%

1

Apple

50

41%

2

Google

28

23%

3

Snapchat

0

0%

4

Venmo

9

7%

5

None

35

29%

Total

122

100%

Statistic

Value

Min Value

1

Max Value

5

Mean

2.60

Variance

2.95

Standard Deviation

1.72

60

Camper, Goh, Johnson, Lin, Lizama

Total Responses

122

18. On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate your willingness to provide your personal information to a digital wallet or cash-sharing application.

#

Answer

1

2

3

4

5

Total Responses

1

My primary credit card information

17

39

35

29

2

122

2

My social security number

42

6

4

2

68

122

3

My address

54

10

14

6

38

122

4

My debit card information

6

37

50

27

2

122

5

My checkings/savings account information

3

30

19

58

12

122

122

122

122

122

122

-

Total

Statistic

My primary credit card information

My social security number

My address

My debit card information

My checkings/savings account information

Min Value

1

1

1

1

1

Max Value

5

5

5

5

5

Mean

2.67

3.39

2.70

2.85

3.38

Variance

1.08

3.55

3.09

0.77

1.08

Standard Deviation

1.04

1.88

1.76

0.88

1.04

61

Camper, Goh, Johnson, Lin, Lizama

Total Responses

122

122

122

122

122

19. How satisfied you are with the current digital wallet/cash sharing app you are using?

#

Answer

Response

%

1

Very Dissatisfied

0

0%

2

Dissatisfied

0

0%

3

Somewhat Dissatisfied

0

0%

4

Neutral

0

0%

5

Somewhat Satisfied

0

0%

6

Satisfied

0

0%

7

Very Satisfied

0

0%

Total

0

0%

Statistic

Value

Min Value

-

Max Value

-

Mean

0.00

Variance

0.00 62

Camper, Goh, Johnson, Lin, Lizama

Standard Deviation

0.00

Total Responses

0

20. On a scale of 1 to 4, rate which company you perceive to be the most trustworthy where “1” means most trustworthy and “4” means least trustworthy. Drag the responses in the order of preference.

#

Answer

1

2

3

4

Total Responses

1

Apple Pay

57

40

24

1

122

2

Google Wallet

27

49

45

1

122

3

Paypal/Venmo

36

32

49

5

122

4

Snapchat/Snapcash

2

1

4

115

122

122

122

122

122

-

Total

Statistic

Apple Pay

Google Wallet

Paypal/Venmo

Snapchat/Snapcash

Min Value

1

1

1

1

Max Value

4

4

4

4

Mean

1.75

2.16

2.19

3.90

Variance

0.64

0.60

0.83

0.21

Standard Deviation

0.80

0.78

0.91

0.45

Total Responses

122

122

122

122

21. If you would like to receive a copy of the final results, please enter your email address below and we will mail you a copy (optional).

Text Response emchaumont@email.wm.edu

63

Camper, Goh, Johnson, Lin, Lizama

smbechert@email.wm.edu Mpbuckley@email.wm.edu

Statistic Total Responses

Value 3

22. How do you define the word "trustworthy?"

Text Response Test-Zoe I don't have to be anxious about something not working Listens and acts upon needs of others in their best interest.

I guess it depends on the context, but I would say something that is dependable and secure.

Having faith and belief that you will not be betrayed or made a fool Worthy of trust, secure Both having good intent and able to deliver on that good intent (to not lose info, essentially) Worthy of my trust.

Reliability, honesty.

They have a strong reputation as a brand and I am familiar with them.

High-level security measures so personal information cannot be hacked or leaked, reliable service Least likely to have my identity stolen Being able to rely on someone or something.

Being able to keep your word Able to be relied on.

Don't have to worry about anything 64

Camper, Goh, Johnson, Lin, Lizama

Least likely to share personal information reliable, truthful worthy of trust... jk... i know that they will do what they say they will, the right thing and what i want them to do The person/company will not divulge personal information or information otherwise deemed as something someone could take advantage of.

Will not divulge personal information.

A person / organization / company that has proven to be dependable on multiple occasions. reliable and honest Knowing my information is secure and that the application is reliable.

They won't share my information without my permission and people (employees) who should not have access to my information don't have access to my information.

Someone who is trustworthy is someone who I feel will keep my secrets and who I feel safe confiding in. They will remember and value my information. worthy of trust Secure and reliable How large the company happens to be dependable, secure feel like your information is secure Belief that they won't share my information with other outlets and won't access my accounts without my permission.

Nobody comes to my door looking to kill me because my personal information was released someone or something that is always reliable and honest. Often transparent and doesn't hide information or lie.

Secure network, not corrupt, not going to use your information without consent.

My information is secure, company is established and reputable 65

Camper, Goh, Johnson, Lin, Lizama

dependable consistency safe etc. always reliable and what you expect Able to be trusted with sensitive information and having the resources and the motivation to resolve any problems that would arise with the dissemination of this information.

Honest; worth giving responsibility to Keeps promises.

Won't share my information or allow others access to my account you can trust someone/a company to do the right thing even when you aren't monitoring them provides privacy, keeps information confidential, reliable, willing to intercede on your behalf I can be confident that what I share will not be revealed or used without my express consent. willing to be trusted based on an interest in benefitting both parties The company will secure all of my personal data and monitor it for misuse.

Not going to steal my money/ randomly lose my money Worthy of being trusted.

Voluntarily will act with integrity in all situations, rather than for personal gain Can trust Not going to screw me over Something that is dependable and will not compromise or fail in what I expect it to do.

Consistent and reliable When they say they'll do something, they'll do it.

A person is trustworthy if they do as they say they will, and, if they say what is true always, within humanly bounds.

Keeps privacy and does not use secure information for other purposes.

66

Camper, Goh, Johnson, Lin, Lizama

Dependable, secure Something I can rely on In regards to credit cards/cash sharing apps/payment methods/etc. keeps promises made and takes all necessary measures to protect my personal information Able to be trusted and deserving of such trust.

Secure and reliable. reliable, consistent Secure servers.

Someone or some company that will use my personal information for only the intended purposes, and not sharing that information with other people or companies I didn't agree to.

Reliable Never releasing any info under anycicurmstances . Guaranteed protection from fraud/ hacking In this case, security with my private info Won't misuse my information or "lose" it easily I can share information with that person and expect it to remain with them.

Able to be relied on Able to trust Worthy of trust Able to trust it... No fear of being betrayed secure How reliable something is. Can I depend on it and not worry Presenting a sense of security and reliability Transparent will use information in responsible manner and protect it, not share it

67

Camper, Goh, Johnson, Lin, Lizama

Not going to lose my money or send me spam. Accountable to its customer base Not have to worry about them doing something that would harm you. they won't distribute my information elsewhere in this situation, the least likely to share or abuse personal information and funds Secure technology standards and encryption Able to be trusted with important information or resources without using them for selfish reasons not likely to misuse information I give them Secure database An adjective to describe a person who I am confident will make a fair and ethical decision.

Concerned with their clients information enough to put the necessary safety measures from internal or external misuse of that information so it can't be improperly used.

Unwilling to share private information Trusted by others Reliable and secure Dependable, reliable, keeps secrets Worthy of trust Being worthy of trust.

Something that guarantees your safety and the safety of your personal items.

Fair and honest for the time being and the future Will not share my information without my direct consent and will defend my information from those who seek it.

The least likely to have problems with Reliable.

I know they won't mess something up

68

Camper, Goh, Johnson, Lin, Lizama

Statistic

Value

Total Responses

110

23. Rank the features you would value the most from a cash sharing/digital wallet app. Drag the response in the order of preference.

#

Answer

1

2

3

4

5

Total Responses

1

Social features/communication (If more of your friends use it, you value it more)

7

7

10

20

76

120

2

Secure network

78

17

11

8

6

120

3

Easy-to-use platform

10

30

43

32

5

120

4

Efficiency (If a cashsharing app quickens a transaction)

11

32

31

37

9

120

5

Cost of use

14

34

25

23

24

120

Total

120

120

120

120

120

-

Statistic

Social features/communication (If more of your friends use it, you value it more)

Secure network

Easy-touse platform

Efficiency (If a cashsharing app quickens a transaction)

Cost of use

Min Value

1

1

1

1

1

Max Value

5

5

5

5

5

Mean

4.26

1.73

2.93

3.01

3.08

Variance

1.42

1.39

1.02

1.25

1.75

Standard Deviation

1.19

1.18

1.01

1.12

1.32

69

Camper, Goh, Johnson, Lin, Lizama

Total Responses

120

120

120

120

120

24. Select the frequency you use the app for each stated activity

#

Question

Never

Rarely

Sometimes

Often

All of the Time

Total Responses

Mean

1

Food and Dining

0

0

0

0

0

0

0.00

2

Entertainment

0

0

0

0

0

0

0.00

3

Late night/Bars

0

0

0

0

0

0

0.00

4

Clothing/Retail

0

0

0

0

0

0

0.00

5

Transportation

0

0

0

0

0

0

0.00

Statistic

Food and Dining

Entertainment

Late night/Bars

Clothing/Retail

Transportation

Min Value

-

-

-

-

-

Max Value

-

-

-

-

-

Mean

0.00

0.00

0.00

0.00

0.00

Variance

0.00

0.00

0.00

0.00

0.00

Standard Deviation

0.00

0.00

0.00

0.00

0.00

Total Responses

0

0

0

0

0

25. How likely are you to increase your usage of a cash-sharing or digital wallet app in the next six months?

#

Answer

Response

% 70

Camper, Goh, Johnson, Lin, Lizama

1

Very Unlikely

39

33%

2

Unlikely

21

18%

3

Somewhat Unlikely

12

10%

4

Undecided

14

12%

5

Somewhat Likely

24

20%

6

Likely

8

7%

7

Very Likely

2

2%

120

100%

Total

Statistic

Value

Min Value

1

Max Value

7

Mean

2.96

Variance

3.28

Standard Deviation

1.81

Total Responses

120

26. Please give a brief explanation of your response to the previous question.

71

Camper, Goh, Johnson, Lin, Lizama

Text Response Test-Zoe I don't know how prevalent it will become in the future. I supposed if more places/people start using/accepting it then I will start using it too.

Very few accept apple pay as MCX is fighting back against this payment form.

I do not have a smart phone so it would not make much sense for me to have a cashsharing account.

I have only used venmo once because one person requested it.

I don't have a cash sharing app and don't plan on getting one Don't see a need for it I imagine there will be more opportunities to use them as more people get them.

I don't know enough about the apps and none of my friends or family use them Venmo is really useful if I don't have cash on me and need to pay friends back.

I don't really feel like I need a cash-sharing app. Credit cards are widely used and I've never had problems trying to find an ATM if I need cash.

I don't really trust them I have no need to use this type of app.

I don't use them I find no use for it. not convenient Do not have the necessities for Apple pay and I do not trust SnapCash.

I don't plan on using a cash sharing app i have no reason to use a digital wallet app. i'm doing fine with credit and cash.

I don't see it as necessary. The only people I send money to are the bill collectors. The only people that send money to me are my parents, who do so via our bank.

I have heard that there have been security breaches on venmo.

72

Camper, Goh, Johnson, Lin, Lizama

I've only ever used PayPal for a work transaction, and it took so long that I am somewhat unlikely to ever use that service again. However, I have no idea what the future holds and if there were an app that were easy to use and very fast, then I would definitely be open to trying it.

I don't use it now.

I haven't seen a need for using it yet.

I don't really have any interest in using a cash-sharing app.

I don't feel comfortable putting all of that personal information in my phone like that.

I don't have a cash app, I probably won't use it.

More of my friends are getting cash sharing applications so its more convenient than exchanging cash will be graduating so probs use it again for my housemates in the real world I only use it when I need to pay back my friends for food/drinks I prefer to use cash, credit/debit card if I need it- mostly for security reasons.

If my friends are using it, so will I. I don't really see the benefit of using apple pay, but venmo is easy to use for splitting costs with friends.

I just use PayPal for my ebay transactions... Am not looking to buy any more or sell any less than I usually do I have friends who use Venmo, but not enough people that I do things with on a daily basis that it is important enough for me to use it.

I have been thinking for a few months that it would be a good idea, but I just haven't started it yet.

I don't use an app very frequently and I don't think that will change I have never used one before - have only heard about them. I've never been in a situation where I have needed to use it, it's easy to carry cash and almost everyone does, so it is easy to "pay people back" without downloading an app and doing it through there I have need for a cash sharing app in my current lifestyle Since it's not something I've ever really explored before, I would want to see other people use it and figure out how it works to ensure that it is a reliable and trustworthy payment 73

Camper, Goh, Johnson, Lin, Lizama

method. Also, seeing other people use it would give me the confidence that it works and it is trusted, and that would motivate me to use it more.

I don't think I would need one for any of the transactions I do.

I don't use one now but there is a good chance I might start because a lot of people use them so it might make transactions easier.

I might consider having one of these cash apps useful, but I am perfectly satisfied with using my credit card for most purposes Don't see the need Graduating and Coming in to more income in the next few months, so won't have to share expenses as much/ need cash as much I don't use one now and have no reason to start I don't really see the need to use one of these apps, but maybe I'll try one out.

It has not been integrated enough in our day to day for it to be worth my while to switch to that platform - if that changed or if there were perks associated I would probably be very willing to switch.

I'm graduating and probably will use it more when I have a real job.

It's becoming more popular, so I think I might open an account soon.

I just don't care enough to download one. What's wrong with credit cards, debit cards, and cash?

I don't think they are trustworthy Just going to be spending more money My friends at W&M don't really use Venmo, but my friends from home and siblings do.

Thus, I'm thinking that after I graduate (and have more money to spend) I'll be using Venmo a lot more often.

I have access to an ATM from my bank so it is easiest to pay in cash I only use it for rent, when I graduate I don't know whether I'll use it at all I see the value, in terms of efficiency, in cash-sharing apps.

74

Camper, Goh, Johnson, Lin, Lizama

I don't like to use my Venmo account more than I do because I like knowing that my money is actually going to the intended recipient.

I don't have a need for it. I already can use things that are convenient (cash, credit, debit) and still don't trust the security of cash-sharing/digital wallet apps.

I really don't have a need for such apps as my debit card and cash have sufficed so far!

I see no need to change from my current payment methods. I have a debit card and a credit card and they currently meet my needs.

I think that debit cards are convenient enough and more secure than cash sharing apps No increase in spending needed.

Using a credit card works fine for me, and it can usually be split in restaurants.

I feel comfortable without cash sharing.

Moving to NYC, anticipate being in situations where it will be more convenient than it is in college I am happy with a credit card. If I lose my phone I won't lose my money I prefer not to use apps for payment, prefer in person payments. Apps don't feel as official/secure for payments I may pickup venmo soon.

I just got a smartphone, so I'll probably start using it soon I have no need to use digital cash sharing; I don't know how.

I dont know Will stop paying rent with roommates in the next few months I only use it to pay rent/ utilities don't trust them with security of my info I like paying with cash so I know people get it I also prefer seeing the transaction with my eyes Frequency of cash-sharing is not too likely to increase My habits probably won't change 75

Camper, Goh, Johnson, Lin, Lizama

Don't anticipate getting apple pay or anything, use venmo pretty infrequently and don't anticipate using it more I don't see using it a ton.

Never have before, but it seems convenient, so I might start if I have a reason to. none of my friends use it, that I know of, and as of right now my debit card is just as convenient, so why would I change my payment method?

Credit cards are good enough Not sure if it will be necessary time increase my use More of my friends will inevitably download venmo I only use it when I have to. I don't anticipate needing to, but it could certainly happen More income, and a better phone make it somewhat likely Don't care enough Needmoney Don't need one.

It's the future More and more people and institutions are joining payment networks, making them useful for a greater variety of transactions.

I will more than likely use the digital cash-sharing as much as I did before taking this survey.

If I had people to share with. I'd use them If I had a persisting need for it, I might download one and use it. Right now I have no immediate need for it.

I'm moving into a house with roommates so I would use it for rent I don't trust apps. I use cash.

I'm set in my ways.

I don't really see the need for me to have a cash sharing app

76

Camper, Goh, Johnson, Lin, Lizama

I usually use it most for food or the bar so as more of my friends turn 21 I may spend more time at the bar.

No need Going back home for the summer and will have more opportunities to go to activities

Statistic

Value

Total Responses

105

27. Please select your current class year

#

Answer

Response

%

1

Freshmen

12

10%

2

Sophomore

18

15%

3

Junior

32

27%

4

Senior

56

47%

Total

118

100%

Statistic

Value

Min Value

1

Max Value

4

Mean

3.12

Variance

1.03

Standard Deviation

1.01

77

Camper, Goh, Johnson, Lin, Lizama

Total Responses

118

28. Please select your gender

#

Answer

Response

%

1

Male

37

31%

2

Female

79

67%

3

Other

0

0%

4

Prefer not to say

2

2%

118

100%

Total

Statistic

Value

Min Value

1

Max Value

4

Mean

1.72

Variance

0.31

Standard Deviation

0.55

Total Responses

118

29. Please write any additional thoughts or comments regarding your perception and usage of cash-sharing or digital wallet mobile applications below:

Text Response I would generally be pretty skeptical of using them.

78

Camper, Goh, Johnson, Lin, Lizama

I did want to share that, in relation to a previous question, the primary reason I use credit cards most of the time is that Discover gives 1% cash back, and that was not listed in the ordinal scale.

I'm not sure what a digital wallet is. n/a N/A The only time I've heard of it is when I'm visiting friends in a big city or on college campuses in California. n/a PayPal is my favorite.

N/A Venmo seems interesting, but my friends and I just usually cover some other purchase to pay each other back I was under the impression that Apple Pay was for purchasing things on the app store or in the Apple store, but perhaps I'm wrong!

I think some seem way more trustworthy than others. I would not at all feel comfortable sharing my information with Snapchat. However, I feel like Apple Pay is much more established and has the resources necessary to protect my information.

Maybe I will use them in the future as a young professional but overall I'm broke and should probably avoid other ways to spend money.

I use venmo because it's easy. I have heard that it is fairly insecure which worries me, but I keep track of my accounts and haven't seen anything fishy so far.

These comparisons are apples and oranges - NFC based platforms like Apple Pay and Google Wallet have a fundamentally different value proposition than snapcash/venmo.

The fact that you can pay at physical locations not just send money to your friends is a really important distinction to be made. Also new systems like Samsung LoopPay wasn't mentioned and that functionality allows a user to pay electronically at ANY existing cash register unlike gwallet and apple pay. Good luck guys!

Haven't thought about it Emory is pretty

79

Camper, Goh, Johnson, Lin, Lizama

Statistic

Value

Total Responses

17

Appendix J: Variable Reference Table Variable

Label

Q29

Thank you for participating in our survey. This study is being conducted by undergraduate studen...

Q1_1

Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Google Wallet

Q1_2

Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Apple Pay

Q1_3

Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Snapcash

Q1_4

Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Venmo

Q1_5

Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Other

Q1_5_TEXT Which cash sharing or digital wallet mobile applications are you currently aware of? Please selec...-Other-TEXT Q2_1

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Google Wallet

Q2_2

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Apple Pay

Q2_3

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Snapcash

Q2_4

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Venmo

Q2_5

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-None

Q2_6

Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Other 80

Camper, Goh, Johnson, Lin, Lizama

Q2_6_TEXT Which of the following cash-sharing or digital wallet mobile applications have you personally use...-Other-TEXT Q3

If you have downloaded a cash-sharing or digital wallet mobile application, why did you initially...

Q4

When did you first start using cash sharing or digital wallet apps?

Q5

Do you live on-campus or off-campus?

Q6_1

Please adjust the sliding scale in response to the following questionsApproximately what percent (%) of your personal income goes toward rent/utilities?

Q7

How many people (including yourself) contribute to your rent/utilities payments?

Q8

In which location do you use your cash app/digital wallet app the most?

Q9

How would you describe your hometown?

Q10_1

Approximately how much disposable income (funds not spent on necessities) do you spend per month?...-How much you spend

Q10_2

Approximately how much disposable income (funds not spent on necessities) do you spend per month?...-How much you have access to

Q11_1

Where does your disposable income come from? Please select all that apply.Current Job/Work

Q11_2

Where does your disposable income come from? Please select all that apply.Previous Job/Work

Q11_3

Where does your disposable income come from? Please select all that apply.Parents or Family

Q11_4

Where does your disposable income come from? Please select all that apply.Student or Private Loans

Q11_5

Where does your disposable income come from? Please select all that apply.Other

Q11_5_TEX T

Where does your disposable income come from? Please select all that apply.Other-TEXT

Q12_1

What percentage of your disposable income do you spend on each of these categories?-Dining out (restaurants, convenience stores, coffee shops, bars, clubs etc.)

81

Camper, Goh, Johnson, Lin, Lizama

Q12_2

What percentage of your disposable income do you spend on each of these categories?-Other forms of entertainment (concerts, galleries, museums etc.)

Q12_3

What percentage of your disposable income do you spend on each of these categories?-Clothing, accessories, and tech items

Q12_4

What percentage of your disposable income do you spend on each of these categories?-Other big ticket items

Q13

What type of payment method do you use most frequently?

Q13_TEXT

What type of payment method do you use most frequently?-TEXT

Q14_1

On a scale of 1 to 4, rate why you utilize that specific method from the previous question where...-Trust in Brand / Product

Q14_2

On a scale of 1 to 4, rate why you utilize that specific method from the previous question where...-Security (relative to personal information storage)

Q14_3

On a scale of 1 to 4, rate why you utilize that specific method from the previous question where...-Convenience

Q14_4

On a scale of 1 to 4, rate why you utilize that specific method from the previous question where...-Social Reasons (because my friends are using it too)

Q15

How often do you use your cash-sharing app?

Q16

Which of the following digital wallet or cash-sharing apps do you view as the 'highest quality'?

Q17

Which of the following companies do you most most trust with your personal information?

Q19_1

On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate you...-My primary credit card information

Q19_2

On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate you...-My social security number

Q19_3

On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate you...-My address

Q19_4

On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate you...-My debit card information

Q19_5

On a scale of 1 to 5, where 1 is the least willing and 5 is the most willing, please indicate you...-My checkings/savings account information

Q20

How satisfied you are with the current digital wallet/cash sharing app you are 82

Camper, Goh, Johnson, Lin, Lizama

using?

Q21_1

On a scale of 1 to 4, rate which company you perceive to be the most trustworthy where “1” means...-Apple Pay

Q21_2

On a scale of 1 to 4, rate which company you perceive to be the most trustworthy where “1” means...-Google Wallet

Q21_3

On a scale of 1 to 4, rate which company you perceive to be the most trustworthy where “1” means...-Paypal/Venmo

Q21_4

On a scale of 1 to 4, rate which company you perceive to be the most trustworthy where “1” means...-Snapchat/Snapcash

Q32

How do you define the word "trustworthy?"

Q22_1

Rank the features you would value the most from a cash sharing/digital wallet app. Drag the resp...-Social features/communication (If more of your friends use it, you value it more)

Q22_2

Rank the features you would value the most from a cash sharing/digital wallet app. Drag the resp...-Secure network

Q22_3

Rank the features you would value the most from a cash sharing/digital wallet app. Drag the resp...-Easy-to-use platform

Q22_4

Rank the features you would value the most from a cash sharing/digital wallet app. Drag the resp...-Efficiency (If a cash-sharing app quickens a transaction)

Q22_5

Rank the features you would value the most from a cash sharing/digital wallet app. Drag the resp...-Cost of use

Q23_1

Select the frequency you use the app for each stated activity -Food and Dining

Q23_2

Select the frequency you use the app for each stated activity -Entertainment

Q23_3

Select the frequency you use the app for each stated activity -Late night/Bars

Q23_4

Select the frequency you use the app for each stated activity -Clothing/Retail

Q23_5

Select the frequency you use the app for each stated activity -Transportation

Q24

How likely are you to increase your usage of a cash-sharing or digital wallet app in the next six...

Q25

Please give a brief explanation of your response to the previous question.

Q30**

Please select your current class year

83

Camper, Goh, Johnson, Lin, Lizama

Q31

Please select your gender

Q34

Please write any additional thoughts or comments regarding your perception and usage of cash-shar...

**Please note that in the survey, respondents were given the options Freshmen, Sophomore, Junior or Senior, which were coded as 1, 2, 3, and 4 respectively. We translated these 4 groups into 2 groups: Underclassmen and Upperclassmen. We gave all previous values representing Freshmen and Sophomores a “1” to represent the Underclassmen group and all previous values representing Juniors and Seniors a “2” to represent the Upperclassmen group.

Appendix K: Frequencies SPSS Output Statistics Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months N

Valid

115

Missing

0

Mean

2.91

Median

2.00

Mode

1

How likely are you to increase your usage of a cash-sharing or digital wallet app in the next six months?

Frequency Valid

Percent

Valid

Cumulative

Percent

Percent

Very Unlikely

38

33.0

33.0

33.0

Unlikely

21

18.3

18.3

51.3

Somewhat Unlikely

12

10.4

10.4

61.7

Undecided

13

11.3

11.3

73.0

Somewhat Likely

21

18.3

18.3

91.3

Likely

8

7.0

7.0

98.3

Very Likely

2

1.7

1.7

100.0

115

100.0

100.0

Total

84

Camper, Goh, Johnson, Lin, Lizama

With Std. Dev, Variance, etc.

Statistics Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months N

Valid Missing

115 0

Mean

2.91

Median

2.00

Mode

1

Std. Deviation

1.809

Variance

3.273

Minimum

1

Maximum

7

85

Camper, Goh, Johnson, Lin, Lizama

Appendix K-1: Frequencies Bar Graph

Appendix L: T-Test SPSS Output Group Statistics

Gender Likeliness to adopt cash-sharing app or digital wallet technology in next 6

N

Mean

Std.

Std. Error

Deviation

Mean

Male

37

3.41

1.936

.318

Female

76

2.63

1.656

.190

months

Independent Samples Test Levene's Test for Equality of Variances

F

Sig.

t-test for Equality of Means

t

df

Sig. (2-

Mean

Std. Error

95%

tailed)

Difference

Difference

Confidence

86

Camper, Goh, Johnson, Lin, Lizama

Interval of the Difference

Likeliness to adopt

Equal variances

cash-sharing app or assumed

4.840

.030

Lower

Upper

2.204

111

.030

.774

.351

.078

1.470

2.088

62.417

.041

.774

.371

.033

1.515

digital wallet technology in next 6 Equal variances not assumed months

Group Statistics Std. Academic Class Status Likeliness to adopt cash-sharing app or digital wallet

N

Std.

Error

Mean

Deviation

Mean

Underclassmen

30

2.67

1.688

.308

Upperclassmen

85

3.00

1.852

.201

technology in next 6 months

Independent Samples Test Levene's Test for Equality of Variances

t-test for Equality of Means 95% Confidence Interval of the Difference

Likeliness to adopt

Equal variances

cash-sharing app or

assumed

df

Sig. (2-

Mean

Std. Error

tailed)

Difference

Difference

F

Sig.

t

Lower

Upper

.268

.606

-.867

113

.388

-.333

.385

-1.095

.429

-.906

55.401

.369

-.333

.368

-1.071

.404

digital wallet technology in next 6

Equal variances

months

not assumed

Appendix M: Cross-Tabs SPSS Output M-1: Cash App/Digital Wallet Personal Use * Social Class Standing 1: Google Wallet Crosstab Academic Class Status

Total

87

Camper, Goh, Johnson, Lin, Lizama

Underclassmen Personally Use: Google Wallet

0

Count

30

78

108

28.2

79.8

108.0

0

7

7

Expected Count

1.8

5.2

7.0

Count

30

85

115

30.0

85.0

115.0

Expected Count 1

Count

Total

Upperclassmen

Expected Count

2: Apple Pay Crosstab Academic Class Status Underclassmen Personally Use: Apple Pay

0

Count

Total

Total

30

82

112

29.2

82.8

112.0

Count

0

3

3

Expected Count

.8

2.2

3.0

Count

30

85

115

30.0

85.0

115.0

Expected Count 1

Upperclassmen

Expected Count

3: Snapcash Crosstab Academic Class Status Underclassmen Personally Use: Snapcash

0

Count Expected Count

Total

Count Expected Count

Upperclassmen

Total

30

85

115

30.0

85.0

115.0

30

85

115

30.0

85.0

115.0

88

Camper, Goh, Johnson, Lin, Lizama

4: Venmo Crosstab Academic Class Status Underclassmen Personally Use: Venmo

0

Count Expected Count

1

Count Expected Count

Total

Count Expected Count

Upperclassmen

Total

21

54

75

19.6

55.4

75.0

9

31

40

10.4

29.6

40.0

30

85

115

30.0

85.0

115.0

5: None Crosstab Academic Class Status Underclassmen Personally Use: None

0

Count Expected Count

1

Total

38

47

12.3

34.7

47.0

21

47

68

17.7

50.3

68.0

30

85

115

30.0

85.0

115.0

Count Expected Count

Total

9

Count Expected Count

Upperclassmen

6: Other Crosstab Academic Class Status Underclassmen Personally Use: Other

0

Count

29

Upperclassmen 81

Total 110

89

Camper, Goh, Johnson, Lin, Lizama

Expected Count 1

Total

28.7

81.3

110.0

1

4

5

Expected Count

1.3

3.7

5.0

Count

30

85

115

30.0

85.0

115.0

Count

Expected Count

M-2: Personal Cash App/Digital Wallet Use* Gender 1: Google Wallet Crosstab Gender Male Personally Use: Google Wallet

0

Count

Total

Prefer not to say

Total

31

75

2

108

34.7

71.4

1.9

108.0

6

1

0

7

Expected Count

2.3

4.6

.1

7.0

Count

37

76

2

115

37.0

76.0

2.0

115.0

Prefer not to say

Total

Expected Count 1

Female

Count

Expected Count

2: Apple Pay Crosstab Gender Male Personally Use: Apple Pay

0

Count

36

75

1

112

36.0

74.0

1.9

112.0

1

1

1

3

Expected Count

1.0

2.0

.1

3.0

Count

37

76

2

115

37.0

76.0

2.0

115.0

Expected Count 1

Total

Female

Count

Expected Count

90

Camper, Goh, Johnson, Lin, Lizama

3: Snapcash Crosstab Gender Male Personally Use: Snapcash

0

Count Expected Count

Total

Count Expected Count

Female

Prefer not to say

Total

37

76

2

115

37.0

76.0

2.0

115.0

37

76

2

115

37.0

76.0

2.0

115.0

4: Venmo Crosstab Gender Male Personally Use: Venmo

0

Count Expected Count

1

Total

Total

57

0

75

24.1

49.6

1.3

75.0

19

19

2

40

12.9

26.4

.7

40.0

37

76

2

115

37.0

76.0

2.0

115.0

Count Expected Count

Prefer not to say

18

Count Expected Count

Female

5: None Crosstab Gender Male Personally Use: None

0

Count Expected Count

1

Count Expected Count

Total

Count

Female

Prefer not to say

Total

23

22

2

47

15.1

31.1

.8

47.0

14

54

0

68

21.9

44.9

1.2

68.0

37

76

2

115

91

Camper, Goh, Johnson, Lin, Lizama

Expected Count

37.0

76.0

2.0

115.0

6: Other Crosstab Gender Male Personally Use: Other

0

Count

Total

Prefer not to say

Total

36

72

2

110

35.4

72.7

1.9

110.0

1

4

0

5

Expected Count

1.6

3.3

.1

5.0

Count

37

76

2

115

37.0

76.0

2.0

115.0

Expected Count 1

Female

Count

Expected Count

M-3: Disposable Income Source * Class 1: Current Job/Work Crosstab Academic Class Status Underclassmen Disposable Income Source: Current Job/Work

0

Count Expected Count

1

Total

45

67

17.5

49.5

67.0

8

40

48

12.5

35.5

48.0

30

85

115

30.0

85.0

115.0

Count Expected Count

Total

22

Count Expected Count

Upperclassmen

2: Parents or Family Crosstab Academic Class Status Underclassmen Disposable Income Source: Parents or Family

0

Count Expected Count

Upperclassmen

Total

6

30

36

9.4

26.6

36.0

92

Camper, Goh, Johnson, Lin, Lizama

1

Count Expected Count

Total

24

55

79

20.6

58.4

79.0

30

85

115

30.0

85.0

115.0

Count Expected Count

3: Previous Job/Work Crosstab Academic Class Status Underclassmen Disposable Income Source: Previous Job/Work

0

Count Expected Count

1

46

63

16.4

46.6

63.0

13

39

52

13.6

38.4

52.0

30

85

115

30.0

85.0

115.0

Count Expected Count

Total

17

Count Expected Count

Total

Upperclassmen

4: Student or Private Loans Crosstab Academic Class Status

Underclassmen Disposable Income Source: Student or Private Loans

0

Count

Total

Total

28

82

110

28.7

81.3

110.0

2

3

5

Expected Count

1.3

3.7

5.0

Count

30

85

115

30.0

85.0

115.0

Expected Count 1

Upperclassmen

Count

Expected Count

5: Other Crosstab Academic Class Status Underclassmen

Upperclassmen

Total

93

Camper, Goh, Johnson, Lin, Lizama

Disposable Income Source: Other

0

Count

28

78

106

27.7

78.3

106.0

2

7

9

Expected Count

2.3

6.7

9.0

Count

30

85

115

30.0

85.0

115.0

Expected Count 1

Total

Count

Expected Count

M-4: Disposable Income Source (Non-Parents/Family) * Class 1. Current Job/Work Crosstab Please select your current class year Uppercl

To

assmen

tal

4

11

15

2.5

12.5

2

19

3.5

17.5

6

30

6.0

30.0

Underclassmen Where does your disposable income come from? Please select all that

0

Count

apply.-Current Job/Work Expec ted Count 1

Count Expec ted Count

Total

Count Expec ted Count

15 .0

21

21 .0

36

36 .0

2. Previous Job/Work Crosstab Please select your current class year

Underclassmen

Uppercl

To

assmen

tal

94

Camper, Goh, Johnson, Lin, Lizama

Where does your disposable income come from? Please select all that

0

Count

2

16

3.0

15.0

4

14

3.0

15.0

6

30

6.0

30.0

18

apply.-Previous Job/Work Expec ted Count 1

Count Expec ted Count

Total

Count Expec ted Count

18 .0

18

18 .0

36

36 .0

M-5: Cash App/Digital Wallet Personal Use * Residence Status 1: Google Wallet Crosstab Do you live on-campus or off-campus?

On-campus Personally Use: Google Wallet

0

Count

Total

Total

70

38

108

67.6

40.4

108.0

2

5

7

Expected Count

4.4

2.6

7.0

Count

72

43

115

72.0

43.0

115.0

Expected Count 1

Off-campus

Count

Expected Count

2: Apple Pay Crosstab Do you live on-campus or off-campus?

On-campus Personally Use: Apple Pay

0

Count

Total

Total

70

42

112

70.1

41.9

112.0

2

1

3

Expected Count

1.9

1.1

3.0

Count

72

43

115

Expected Count 1

Off-campus

Count

95

Camper, Goh, Johnson, Lin, Lizama

Expected Count

72.0

43.0

115.0

3: Venmo Crosstab Do you live on-campus or off-campus?

On-campus Personally Use: Venmo

0

Count Expected Count

1

Count Expected Count

Total

Count Expected Count

Off-campus

Total

57

18

75

47.0

28.0

75.0

15

25

40

25.0

15.0

40.0

72

43

115

72.0

43.0

115.0

5: None Crosstab Do you live on-campus or off-campus?

On-campus Personally Use: None

0

Count Expected Count

1

Count Expected Count

Total

Count Expected Count

Off-campus

Total

19

28

47

29.4

17.6

47.0

53

15

68

42.6

25.4

68.0

72

43

115

72.0

43.0

115.0

6: Other Crosstab Do you live on-campus or off-campus?

On-campus Personally: Other

0

Count Expected Count

1

Count Expected Count

Off-campus

Total

69

41

110

68.9

41.1

110.0

3

2

5

3.1

1.9

5.0

96

Camper, Goh, Johnson, Lin, Lizama

Total

Count Expected Count

72

43

115

72.0

43.0

115.0

Appendix N: One-way ANOVA Output Descriptives Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval for Mean Mini Std. N

Mean

Deviation

Lower

Upper

mu

Maxi

Std. Error

Bound

Bound

m

mum

Underclassmen

30

2.67

1.688

.308

2.04

3.30

1

5

Upperclassmen

85

3.00

1.852

.201

2.60

3.40

1

7

115

2.91

1.809

.169

2.58

3.25

1

7

Total

ANOVA Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months Mean Sum of Squares Between Groups

df

Square

F

2.464

1

2.464

Within Groups

370.667

113

3.280

Total

373.130

114

Sig.

.751

.388

Descriptives Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval for Mean Std. N Male

Mean 37

3.41

Min

Deviati

Std.

Lower

Upper

imu

Maxi

on

Error

Bound

Bound

m

mum

.318

2.76

4.05

1.936

1

6

97

Camper, Goh, Johnson, Lin, Lizama

Female Prefer not to say Total

76

2.63

1.656

.190

2.25

3.01

1

7

2

4.50

3.536

2.500

-27.27

36.27

2

7

115

2.91

1.809

.169

2.58

3.25

1

7

ANOVA Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months Mean Sum of Squares Between Groups

df

Square

20.027

2

10.014

Within Groups

353.103

112

3.153

Total

373.130

114

F

Sig.

3.176

.046

Appendix O: n-way ANOVA SPSS Output Between-Subjects Factors

Value Label Academic Class Status

Gender

N

1

Underclassmen

30

2

Upperclassmen

85

1

Male

37

2

Female

76

4

Prefer not to say

2

Descriptive Statistics Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months Std. Academic Class Status

Gender

Mean

Deviation

N

Underclassmen

Male

3.88

1.553

8

Female

2.23

1.541

22

Total

2.67

1.688

30

98

Camper, Goh, Johnson, Lin, Lizama

Upperclassmen

Total

Male

3.28

2.034

29

Female

2.80

1.687

54

Prefer not to say

4.50

3.536

2

Total

3.00

1.852

85

Male

3.41

1.936

37

Female

2.63

1.656

76

Prefer not to say

4.50

3.536

2

Total

2.91

1.809

115

Tests of Between-Subjects Effects Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months Type III Sum of Source

Squares

Mean df

Square

F

Sig.

Corrected Model

27.339a

4

6.835

2.174

.077

Intercept

271.609

1

271.609

86.402

.000

.004

1

.004

.001

.971

24.875

2

12.437

3.956

.022

6.107

1

6.107

1.943

.166

Error

345.791

110

3.144

Total

1349.000

115

373.130

114

V1_Class V2_Gender V1_Class * V2_Gender

Corrected Total

a. R Squared = .073 (Adjusted R Squared = .040)

Estimated Marginal Means 1. Grand Mean Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval Mean

Std. Error

Lower Bound

Upper Bound

99

Camper, Goh, Johnson, Lin, Lizama

3.335a

.302

2.737

3.933

a. Based on modified population marginal mean.

Social Class Status Estimates Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval Academic Class Status

Mean

Std. Error

Lower Bound

Upper Bound

Underclassmen

3.051a

.366

2.326

3.776

Upperclassmen

3.524

.439

2.653

4.395

a. Based on modified population marginal mean.

Pairwise Comparisons Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval for Differencec Mean

Std.

(J) Academic Class

Differen

Erro

Sig.

Lower

Upper

(I) Academic Class Status

Status

ce (I-J)

r

c

Bound

Bound

Underclassmen

Upperclassmen

Upperclassmen

Underclassmen

-.473a

.572

.473b

.572

.41 0 .41 0

-1.606

.661

-.661

1.606

Based on estimated marginal means a. An estimate of the modified population marginal mean (I). b. An estimate of the modified population marginal mean (J). c. Adjustment for multiple comparisons: Least Significant Difference (equivalent to no adjustments).

Univariate Tests Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months

100

Camper, Goh, Johnson, Lin, Lizama

Mean Sum of Squares Contrast Error

df

Square

2.149

1

2.149

345.791

110

3.144

F

Sig.

.684

.410

The F tests the effect of Academic Class Year. This test is based on the linearly independent pairwise comparisons among the estimated marginal means.

Gender Estimates Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval Gender

Mean

Std. Error

Lower Bound

Upper Bound

Male

3.575

.354

2.874

4.277

Female

2.512

.224

2.067

2.956

4.500a

1.254

2.015

6.985

Prefer not to say a. Based on modified population marginal mean.

Pairwise Comparisons Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval for Differenced Mean Difference

Bound

Bound

Male

Female

1.064*

.419

.013

.233

1.894

Prefer not to say

-.925b

1.303

.479

-3.506

1.657

Male

-1.064*

.419

.013

-1.894

-.233

Prefer not to say

-1.988b

1.274

.121

-4.512

.536

.925c

1.303

.479

-1.657

3.506

1.988c

1.274

.121

-.536

4.512

Male Female

Sig.

Upper

(J) Gender

Prefer not to say

Std. Error

Lower

(I) Gender

Female

(I-J)

d

101

Camper, Goh, Johnson, Lin, Lizama

Based on estimated marginal means *. The mean difference is significant at the .05 level. b. An estimate of the modified population marginal mean (J). c. An estimate of the modified population marginal mean (I). d. Adjustment for multiple comparisons: Least Significant Difference (equivalent to no adjustments).

Univariate Tests Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months

Sum of Squares Contrast Error

df

Mean Square

F

25.795

2

12.897

345.791

110

3.144

Sig.

4.103

.019

The F tests the effect of Gender. This test is based on the linearly independent pairwise comparisons among the estimated marginal means.

4. Academic Class Statusr * Gender Dependent Variable: Likeliness to adopt cash-sharing app or digital wallet technology in next 6 months 95% Confidence Interval Upper Bound

Underclassmen

Male

3.875

.627

2.633

5.117

Female

2.227

.378

1.478

2.976

.a

.

.

.

Male

3.276

.329

2.623

3.928

Female

2.796

.241

2.318

3.274

Prefer not to say

4.500

1.254

2.015

6.985

Upperclassmen

Std. Error

Lower Gender

Prefer not to say

Mean

Bound

Academic Class Status

a. This level combination of factors is not observed, thus the corresponding population marginal mean is not estimable.

102

Camper, Goh, Johnson, Lin, Lizama

Appendix P: Bar Graph of Brand Awareness

103