A Customer Experience-driven Business Model Innovation Model in Electronic Payments Industry (Case Study: Behpardakht Mellat Company)

Document Type : Original Article

Authors

1 Master of student in Business Administration, Department of Management, Faculty of Economics, Management and Administrative Sciences, Semnan University, Semnan, Semnan, Iran.

2 Department of Management, Faculty of Economics, Management and Administrative sciences, Semnan University, Semnan, Iran.

Abstract

Objectives: Business model innovation is essential for achieving long-term growth and sustainability, as it enhances the value of products and services and delivers them effectively to customers. This study aims to design a business model innovation framework based on customer experience in the field of electronic payments using the grounded theory approach.
Method: This qualitative research employs a grounded theory methodology to develop a conceptual model. Data were collected through semi-structured interviews with experts active in innovation, business planning, business and product development, new service development management, and VIP members of the customer club at Behpardakht Mellat. Participants were selected using purposive sampling, and data saturation was achieved by the 12th interview. The collected data were analyzed using MAXQDA software and coded in three stages: open, axial, and selective coding. The extracted codes represented narratives, concepts, and categories that formed the basis of the proposed innovation model.
Results: The analysis revealed that strategies such as offering incentive-based services and products, enhancing customer security, developing a deep understanding of customers, designing unique experiences, and maintaining continuous research and development activities contribute to customer-level outcomes. These include creating customer experience profiles, increasing customer satisfaction and loyalty, and fostering sustained engagement.
Conclusion: At the business level, implementing these strategies leads to competitive differentiation, market share growth, cost reduction, and increased revenue—particularly in the electronic payments industry. The proposed model provides valuable insights for organizations seeking to align customer experience with business model innovation to achieve sustainable competitive advantage.

Keywords

Main Subjects

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Journal of Business Management Perspective
Volume 24, Issue 61
May 2025
Pages 22-45

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