Factors Influencing the Use of E-wallet as a Payment Method among Malaysian Young Adults
Keywords:
Financial Technology, e-wallet, TAM, PLS-SEM, Malaysia.Abstract
In recent years, there is a noticeable increase of cashless transactions due to the
development of financial technology. As a result of being expansion of fintech
products such as e-wallet, consumers are shifting from cash-based to cashless.
Young adult consumers in 21st century are regarded as tech-savvy as they were
born in the era of smartphone technology. This study aims to examine the
influencing factors for Malaysian young adults to use e-wallet as a payment method
by applying extended technology acceptance model (TAM). Total of 330 data were
collected from the users of e-wallet in the area of Klang Valley of Malaysia and
analyzed by deploying partial least squares structural equation modeling (PLSSEM). By applying two-step approach for instance, measurement model for
indicator loadings, convergent validity, reliability and structural model for path
analysis the findings from this study reveal that perceived usefulness, perceived
ease of use and privacy and security have positive and significant relationship with
behavioral intention to use e-wallet. This study helps the service providers of the
digital marketplace further to have better understanding of the usefulness of using
e-wallet for transaction purposes.
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