Table 1 Attributes and attribute values for the choice sets.

Transaction fees (TXF)

$2.99 (1)

The transaction fee is $2.99.

$14.99 (0)

The transaction fee is $14.99.

Transaction time (TXT)

0 days (1)

The transaction happens immediately, i.e., the money arrives at the target account on the same day.

2 days (0)

The transaction takes two days to be settled, i.e., the money arrives at the target account after two days.

Transaction privacy (TXP)

Private (1)

The transactions are privately recorded, i.e., only the account owner can see the transactions belonging to an account. The service provider can also access the data.

Public (0)

The transactions are publicly recorded, i.e., every participant in the system can see all transactions belonging to each account. However, no real names are visible.

Onboarding time (OBT)

Low (1)

An account is approved within 24 h, i.e., you can send money just within one day.

High (0)

An account requires an approval of the payment provider, which results in a minimum waiting time of two days until you can send money.

Ownership (OWN)

Yes (1)

You can own a share of the payment provider, like buying a stock of a publicly traded company and you receive returns on transactions of others.

No (0)

You cannot own a share of the payment provider, like at a privately held firm.

Community (COM)

Strong (1)

The community around the service is strong, i.e., there is a significant number of users that identify with the service, answer questions, build new features, and can influence the strategic direction.

Weak (0)

The community around the service is weak, i.e., you cannot ask other users for help if something goes wrong, you do not have interactions with anyone in the community, and users cannot contribute to the features or influence the strategic direction.