Factors Determining the Acceptance of E-Wallet among Gen Z from the Lens of the Extended Technology Acceptance Model

Abstract

E-wallets are one of the breakthroughs brought forth by the evolution of FinTech, which has been accentuated by the global outbreak of COVID-19. Therefore, it is critical to comprehend the factor of e-wallet acceptance. As this technology advances, substantial knowledge and research gaps become apparent. Previous studies on e-wallet acceptance have overlooked the importance of motivation and self-efficacy. There is a dearth of focus on certain age groups, such as Gen Z, which is currently the trendsetter of new technologies. This study aims to close the gaps regarding the lack of focus toward Gen Z, motivation, and self-efficacy in understanding e-wallet acceptance by combining the Technology Acceptance Model (TAM) with Self-Determination Theory (SDT), Self-Efficacy (SE), and Digital Media Self-Efficacy (DMSE) to fully understand the factors influencing e-wallet acceptance among Gen Z, using 233 samples to test 16 hypotheses derived from the identified research and knowledge gaps. External Regulation (ER), SE, and DMSE are the determinants of acceptance, according to Structural Equation Model analysis conducted. Mediation analysis reveals that Attitude toward Use (AT) is the full mediator of Perceived Usefulness (PU) and Perceived Ease of Use (PEU). The quintessential outcome of this research is the Model of E-Wallet Acceptance among Gen Z, which is significant for FinTech industries looking to strategically roll out e-wallet initiatives as well as a point of exploration for numerous future academic research and development.

Hacia un Modelo de Gobierno de APIs, Mapeo Sistemático de la Literatura

“…La potencial alianza de los bancos con el sector Fintech garantizaría la continua innovación y satisfacción de nuevas necesidades que surjan en los usuarios, como la sostenibilidad [15] o la inclusión financiera [16], y aumentaría su alcance. Este enfoque también abordaría la preocupación común de que las nuevas tecnologías empleadas en las Fintech y son riesgosas e inseguras [17] debido a su aparente falta de regulación en comparación con los bancos y evitaría o mitigaría la pérdida del dominio de éstos sobre mercado [18].…”

Factors influencing e-wallet usage intentions among Gen Z and Millennials in Jabodetabek

“…Chalik (2022) found that many key elements, such as PTS, system quality of information, service quality, and structural assurances, influence consumer satisfaction. Rosli (2023) studied the determinants of e-wallet acceptability among Generation Z, using the Extended Technology Acceptability Model as a conceptual framework. The researcher discovered that the adoption of e-wallets is substantially influenced by elements such as perceived utility, perceived simplicity of use, and other relevant variables.…”

“…Notably, the PEU emerged as a significant component in determining customer satisfaction. The study conducted by Rosli (2023) examined the determinants of e-wallet adoption among individuals belonging to Generation Z, utilizing the Extended Technology Adoption Model as the theoretical framework. The Researcher discovered that characteristics such as PEU, PU, and other variables substantially impacted the adoption of e-wallets.…”

Consumer Behavior in the Post-COVID-19 Era: The Impact of Perceived Interactivity on Behavioral Intention in the Context of Virtual Conferences

“…According to recent studies, the TAM has been widely used as a theoretical framework to explain technology adoption and use behavior. This framework has been applied in various domains, including education, healthcare, and business sectors, to better understand the factors that influence technology adoption and usage [43,[49][50][51][52]. These studies found that the TAM provides a robust and valid model for understanding consumers' intentions and behaviors toward information technologies.…”