Continuance intention of baby boomer and X generation as new users of digital payment during COVID-19 pandemic using UTAUT2

Abstract

The emergence of social distancing and stay at home regulations during the COVID-19 pandemic directly affects people’s lifestyle, including baby boomers and X generation. Many of them have started using digital payments for online or offline transactions to minimize contact with others. This study aims to analyze the continuance intention of the baby boomers and X generation toward the use of digital payments using UTAUT2 (Unified Theory of Acceptance Technology). Data were collected from 320 users with an age range of 40–74 who had just started using digital payments during this pandemic. Structural equation modeling has been used to analyze the data. The result indicates that UTAUT indicators positively affect user satisfaction. User satisfaction positively affects inertia. Overall satisfaction and inertia positively affect continuance intention. Therefore, digital payment companies and banks with digital services can expand their target market beyond Millennials and pay more attention to the older generation like baby boomers and X generation. Managers can find the results of this study useful and beneficial to develop their marketing strategy and take advantage of this situation to increase digital payment users to a broader age range.

An empirical study to explore the influence of the COVID-19 crisis on consumers' behaviour towards cashless payment in Malaysia

“…Meanwhile, e-learning (Maphosa et al 2020 ; Raza et al 2021 ; Qiao et al 2021 ); tourism (Pinto et al 2022 ; Chang et al 2022 ; Godovykh et al 2022 ); mobile food delivery (Puriwat and Tripopsakul 2021a ); and online shopping (Erjavec and Manfreda 2022 ) are among the studies that use the UTAUT model to probe intention to use during the COVID-19 crisis. On the other hand, studies on electronic payment usage during the crisis are focused on supplementing additional factors to behavioural intention of adoption such as perceived security and personal innovativeness (Musyaffi et al 2021 ); user satisfaction (Santosa et al 2021 ); and perceived severity and self-efficacy (Upadhyay et al 2022 ).…”

“…In the literature, previous studies examine factors influencing electronic banking services adoption, such as online banking, electronic banking, and mobile banking, using different theories and different model under a normal circumstance (Martins et al 2014 ; Bhatiasevi 2016 ; Sarfaraz 2017 ; Friadi et al 2018 ; Savic and Vasic 2019 ; Singh and Srivastava 2020 ; Yang et al 2021 ; Gupta and Dhingra 2022 ). Meanwhile, the studies that examined users’ intention to use technology during the COVID-19 crisis are dominant in the fields of learning (Maphosa et al 2020 ; Raza et al 2021 ; Qiao et al 2021 ), tourism (Pinto et al 2022 ; Chang et al 2022 ; Godovykh et al 2022 ), and online purchase (Erjavec and Manfreda 2022 ; Puriwat and Tripopsakul 2021a ), while studies on electronic payment usage during the crisis are focused on supplementing additional factors that influence intention of adoption to use (Musyaffi et al 2021 ; Santosa et al 2021 ; Upadhyay et al 2022 ).…”

Factors Affecting Medical Students’ Continuance Intention to Use Mobile Health Applications

“… 40 This number met the requirement that the sample size be 5~10 times the number of items. 70 Table 1 shows the following. Smartphones became the most popular device for the Internet.…”

Covid-19 Pandemisi Sırasında Stratejik Yönetim Literatüründe Neler Söylendi?

“…Moreover, consumer intention (Castaldo, et al, 2021;Lebrun, et al, 2021;Kim and Im, 2021;Giroux, et al, 2021), consumer solution and service failures Ozuem, et al, 2021;Bond, et al, 2020), digital marketing, payment, and e-commerce (Santosa, et al, 2021;Vollrath and Villegas, 2021;Camilleri, 2021), brand crisis (Whitler, et al, 2021), brand engagement (Hollebeek, et al, 2020), firm and consumer responses towards circumstances happened during COVID-19 (Ozuem, et al, 2021;Hofmann, et al, 2021;Ding and Li, 2021;Hoang, et al, 2021), marketing innovation (Ding and Li, 2021;Wang, et al,2020), collaborative consumption (Baek and Oh, 2021), and consumer orientation (Mahmoud, et al, 2020) appeared as additional sub-sub-themes of marketing.…”