Perceived Trust, Convenience and Promotion For the Adoption of e-Wallet

Abstract

The outbreak of Covid-19 had accelerated cashless and contactless digital payment like ewallet. It was projected that the e-wallet market in Malaysia has the potential to grow to USD 20 billion by 2024. The Bank Negara Malaysia (BNM) had granted licence to 53 e-wallet providers and the competition remains fierce. This study is conducted to investigate the factors affecting the adoption of e-wallet by extending TAM model by perceived trust and promotion. The target population was those aged between 18 to 50 and 249 valid responses were collected by using purposive sampling technique. The demographic frequencies and outlier analysis were assessed using the Statistical Package for the Social Sciences (SPSS) while the measurement and structural models were examined using partial least squares-structural equation modelling (PLS-SEM). The results show that perceived trust, convenience, and promotion significantly affect the adoption of e-wallet. This study served as a guidance to the e-wallet service providers to gain competitive advantage in competitive e-wallet industry in terms of attracting new user and also retaining existing users.

Do Small Medium Enterprises (SMEs) Need To Adopt E-wallet? A Study Post- Covid-19 Pandemic

“…The other research findings demonstrate that adoption of an e-wallet is highly influenced by perceived convenience, trust, and promotion. This study provided advice to e-wallet service providers on how to acquire a competitive edge in the cutthroat e-wallet market by attracting new customers and keeping hold of current ones [11]. Perceived utility, perceived simplicity of use, social influence, lifestyle compatibility, and perceived trust were found to have a substantial beneficial impact on both intentions to use and adoption of an e-wallet in the study by Yang et al [12].…”

Intention to Use E-Wallet Application Among University Students

“…Therefore, although e-wallets have been used for several years and have made a breakthrough in digital payments, their uptake in Malaysia is still in its infancy (Alam et al, 2021;Kiew et al, 2022;Mustafa et al, 2022;Teng & Khong, 2021). This phenomenon demonstrates that frequent smartphone use does not automatically result in e-wallet use.…”