Customer Attitude toward Digital Wallet Services

Abstract

The goal of this study is to examine and identify the factors influencing customer attitude toward and intention to use digital wallets (electronic wallets, e-wallets) during and after the COVID-19 pandemic. A total of 257 correctly fulfilled questionnaires from an online survey were summarized. The main features of e-wallet payment systems were classified with a focus on consumer satisfaction via the integration of classic and modern data analysis methods. Structural Equation Modeling (SEM) was preferred to reveal the dependencies between the variables from e-wallets users’ perspective. The designed model can discover and explain the underlying relationships that determine the e-wallets’ adoption mechanism. The obtained results lead to specific recommendations to stakeholders in the value chain of payment processing. Financial regulatory authorities could employ the presented results in planning the development of payment systems. E-commerce marketers could utilize the proposed methodology to assess, compare and select an alternative way for order payment. E-wallet service providers could establish a reliable multi-criteria system for the evaluation of digital wallet adoption. Being aware of the most important components of e-wallets value, managers can more effectively run and control payment platforms, enhance customer experience, and thus improve the company’s competitiveness. As the perceived value of customer satisfaction is subjective and dynamic, measurements and data analysis should be conducted periodically.

Determinants of mobile wallet adoption and recommendation: An empirical assessment in merchants

“…Ilieva et al [14] demostró que la mayoría de los participantes (72%) expresó una actitud positiva hacia los monederos electrónicos como herramienta para transacciones sin efectivo. Objetivo 5: Evaluación de la intención de uso de las billeteras digitales percibida en comerciantes, Trujillo-2022.…”

“…Ilieva et al [14] con el objetivo de identificar los factores que influyen en la actitud de los clientes hacia las carteras digitales (monederos electrónicos, e-wallets) y en su intención de utilizarlas durante y después de la pandemia COVID-19. Se encontró que la mayoría de los participantes (72%) expresó una actitud positiva hacia los monederos electrónicos como herramienta transacciones sin efectivo.…”

Social Media Influencers: Customer Attitudes and Impact on Purchase Behaviour

“…Two indicators for Question #17 (purchase intention) for respondents' expenditures due to social media influencer advertising were adapted from the work of Cheung et al [75]. To incorporate the participants' opinions, suggestions, and their favourite influencers, the last two questions (Question #19 and Question #20) were included based on recommendations from marketing experts [76]. The research details and questionnaire link were disseminated through partner organizations via classic web and social media communications.…”

Bibliometric analysis of scientific literature available on e-wallets

“…An ewallet refers to a software program that utilizes electronic gadgets, like computers or smartphones, to facilitate electronic transactions [17][18][19] , and it allows users to store money, make transactions, and keep track of their transaction records. E-wallets are considered prepaid payment instruments since users are required to either link their wallets to their bank accounts or deposit money into their wallets before any financial transactions can be processed (Ilieva et al, 2023) [8] . E-wallet, a mobile-based application, allows users to conduct monetary transactions (Qasim et al, 2012) [13] .…”

“…Before the pandemic, a large portion of online purchases were made using electronic payment methods, such as e-wallets. Electronic wallets saw a surge in popularity as a consequence of the COVID-19 pandemic when governments took precautions to avoid direct contact with their citizens (Ilieva et al, 2023) [8] . After the COVID-19 outbreak, using electronic money became popular worldwide (Puasa et al, 2021; Revathy & Balaji, 2020) [12,14] .…”