Introduction to the APPQUAL Scale for Measuring Perceived e-Service Quality of Stock Trading Applications

Abstract

Purpose – Despite a significant rise in the adoption of online stock trading applications, the research on measuring and enhancing the service experience of customers is scarce. This paper aims to put forth a credible service performance measurement tool, APPQUAL, customized for stock trading applications. Design/methodology/approach – The paper is based on a multi-method research using qualitative and quantitative research. Further,structural equation modeling is used to establish constructsfor measuring service performance. Findings – APPQUAL is conceived and built to measure the service performance ofstock trading applications. The APPQUAL measures service performance based on five unique dimensions – Safety Accuracy, Performance, Support and Usability associated with the perceived e-service quality of stock trading applications. Research limitations/implications – This study extends measurement scales for service quality measurement for a relatively new service of online stock trading applications. The scales are adapted as well as built with the help of an iterative process. The methodology isin line with the previous academic research, and the new scales developed can lead to further extensions to scale for different services. Practical implications – The APPQUAL tool developed as part of this study can be applied to assess service performance and perceived service quality of stock trading applications, which have leap frogged in terms of adoption but have also been met with criticism on poor customer experience. Thisstudy shall add to the body of knowledge ofstock trading platformsto enhance service experience by targeting the rightfactors and underlying items. The efficacy and application of the tool have been demonstrated in this paper by applying it to Zerodha and Upstox, the two of the biggest online stock trading applications in India. Originality/value – There is no research or tool available currently which focuses on the service quality of the new-age platform application of stock trading apps. This is especially glaring due to the large-scale adoption of these applications by Indian customers.