Modeling the Brand Equity and Usage Intention of QR-Code E-Wallets

Abstract

The proliferation of digital payments has paved the way for the greater use of E-wallets or mobile payments in over-the-counter (OTC) retail transactions. Nevertheless, given its economic and accessibility benefits over NFC forms of mobile payment, relatively little is known about QR-code E-wallet (QREW) adoption from the consumer–brand relationship perspective. The study aims to address this knowledge void by augmenting brand equity elements (perceived value, brand image, and brand awareness) to comprehensively analyze consumers’ QREW usage intention in the OTC retail environment. A structural equation modeling analysis was performed on 305 consumers in the greater Klang Valley, Malaysia. The empirical findings suggest that brand awareness positively affects QREW usage intention and mediates the effects of both perceived quality and brand image on the outcome. Moreover, the results reveal a serial mediation effect involving all of the examined factors. Theoretically, this study supplements the literature on mobile payments from the consumer–brand relationship view, in which the predictive nature of brand equity factors is examined separately. In practical terms, considering that the Malaysian market QREW is in a relatively early growth stage, the findings should offer QREW providers insights into how to capitalize on brand equity mechanisms for attracting consumers to utilize their offerings.