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Purpose: The purpose of this study is to offer a conceptual model that bridges gaps in the current research by combining constructs from the health belief model (HBM) and theory of planned behaviour (TPB). Furthermore, the researchers applied the constructed model to analyse the determinants of workers' intentions to use e-wallet payment options for business transactions rather than physical currency during the ongoing COVID-19 pandemic. Finally, the paper examines whether there are any significant variations in the usage intentions of Ghanaian workers in the formal and informal sectors. Design/methodology/approach: The non-probability convenience sampling technique was used to compile the primary respondents among Ghanaian users of e-wallets. Based on constructs derived from the HBM and TPB, an online survey involving the use of a questionnaire was administered to collect quantitative data from 285 formal and informal sector workers in Ghana. Data collected was analysed using the partial least squares-structural equation modelling approach involving the measurement, structural model tests, hypothesis tests and multi-group analysis (MGA) tests. Findings: This study reveals that workers' attitudes, subjective norms and perceived susceptibility as the main determinants of intentions to use e-wallets, as the analysis of data lends support to hypotheses involving these constructs. Perceived behavioural control was however not supported by the data analysis as a determinant of workers' intention. Finally, there were no significant differences between e-wallet usage intentions of formal and informal sector workers in Ghana. Research limitations/implications: Given the ongoing pandemic, the study recommends that governments of emerging economies should formulate policies that promote the use of e-wallets, to reduce the spread of COVID-19 and at the same time contribute to the quest for a cashless economy. However, the results of the study are only based on data collected from workers in Ghana. Therefore, practitioners should apply the recommendations with discretion and make modifications where necessary. The results of the study also provide evidence from the context of a developing country that can support future academic pursuits. Practical implications: This study provides evidence that influences practitioners' decisions and practices regarding the design and implementation of e-wallet services and innovations among workers in the formal and informal sectors of the economy. Originality/value: This study provides useful business insights to user acquisition managers, marketing managers and business development managers during the formulation of policies, strategies and approaches for their mobile wallet subscriber base. Moreover, to the best of the authors' knowledge, this study is one of the first to apply the constructs of the HBM (mainly applied in health research) to the study of workers' intentions to use e-wallets. It, therefore, makes a significant contribution to the existing literature by examining the combined effects of the constructs of the HBM and the TPB on workers' intention to use e-wallets. © 2023, Emerald Publishing Limited.
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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. © 2023 by the authors.
ABSTRACT
E-wallet is an internet based payment system which allows the users to make online transactions quickly and it keeps financial as well as personal identity related information securely. Such electronic payment (E-wallet) systems enable a customer to pay online for the goods and services. E-wallets are primarily used for mobile recharges and bill payments. During the last decade, customers areusing E-wallet for payment trending in Indian payment pattern.COVID-19 pandemic effect, E-wallet has tremendous growth in India. With the Government initiative such as Digital India and increased use of smartphone and internet are means to exponential growth in use of E-wallet.The present study is an attempt to clarify the concept of E-wallet and to analyse the awareness and usage of E-wallet in Nagercoil, Kanniyakumari district. The study is descriptive and analytical in nature which makes use of primary and secondary data. For the purpose of study, well-structured questionnaire is prepared to collect the data from the respondents. A sample of 120 respondents from Nagercoil is selected by using convenient sampling technique. The study pointed out the necessity of proper awareness towards E-wallet among all category of people and to solve the concerns and issues of the present customers. This study leads to perform better in future.Copyright © 2022, Anka Publishers. All rights reserved.
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This study analyses the dimensions of self-service technology that affect intentions of using e-wallets on mobile platforms. Our study is unique because the Covid-19 pandemic alters consumer intentions to use the E-wallet. We collect data from 307 Vietnamese users through online questionnaires and focus group interviews. We analyze the data sample by applying the Theory of Technology Acceptance and a part of Behavior Intention. Our findings indicate that Perceived Usefulness, Perceived Ease of Use, Trust, Risk, and Personal Innovativeness in Information Technology increase the intention to use E-wallet services in Vietnam. Our findings extend the literature related to essential characteristics of mobile wallets that support the marketing of mobile wallet products. Our study also recommends increasing the attractiveness of using electronic payment via mobile wallets. © 2023, SRAC - Romanian Society for Quality. All rights reserved.
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Several challenges have emerged as a result of the rapid spread of Covid-19 in Indonesia. To combat the pandemic, the government has also issued general guidelines for avoiding/limiting direct contact with common people who do not live with them. However, in some unavoidable cases, such as cash transactions, the social distancing has not yet been followed properly. These type of challenges can be avoided by the introduction of e-wallets and e-money. This research study examines the transactions made using e-wallets and e-money and how these methods are increasing sales in public places. The proposed research study has attempted to utilize both qualitative and a quantitative method to observe the customer behavior while using e-wallet as a substitute for physical money when making a transaction in a shopping mall. The result of the proposed research work will be compared with the existing literature to provide a conclusion based on existing research data and literature. © 2023, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
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In the published article, there was an error in Affiliation 1. Instead of "MinNan Science and Technology University, Quanzhou, China”, it should be "College of Business, MinNan Science and Technology University, Quanzhou, China.” There was also a mistake in the Funding statement. The funding statement for the Key Development Project of the Department of Science and Technology was displayed as "2015CBd051”. The correct statement is "Key Development Project of Department of Science and Technology (2015C03Bd051).'' Funding This research projectwas funded by BeijingMunicipal Philosophy and Social Science Planning Office "Research on the Coordinated Development of Beijing–Tianjin–Hebei Financial Agglomeration and Industrial Structure Upgrading” (16YJB037) and Key Development Project of Department of Science and Technology (2015C03Bd051). The authors apologize for these errors and state that they do not change the scientific conclusions of the article in any way. The original article has been updated. © 2023 Wei, Xiao, Yaqub, Irfan, Murad and Yaqub.
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The Fourth Industrial Revolution created many opportunities in many industrial sectors to cope with the digital transformation emergence. The financial industry quickly developed mobile cashless payment transaction systems (e-wallets) that went viral and have been widely used. Compared with traditional payment services, cashless payments offer other advantages encouraging users to utilize the technology more often. In addition, Covid-19 accelerated the adoption of e-wallets as social distancing, and contactless transactions have been advised in response to limit the transition of the virus between people. Accordingly, this research is aimed to identify the main factors that encourage users to adopt e-wallet systems and the main concerns of the cashless technology before and during Covid-19. This research used the Systematic Literature Review (SLR) approach to answer the research questions that rolled around identifying these factors. The papers were selected between 2018 and 2022 as a representation of before and during Covid-19. The analysis of the chosen literature highlighted 31 total factors, 21 factors about e-wallet usage and 10 factors about technology concerns. Based on the identified factors, this paper can be useful for e-wallet technology practitioners in the field to provide better cashless payment services. © 2023 IEEE.
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Last decade had been worst for humanity as it faced Covid-19. The pandemic invited many things unknown to humans such as lockdown, compulsory mask and no contact with other people or things. The 'No Contact' initiated much awaited progress in payment from being entity exchange to being digital. The digitization of payment became biggest transformation;every common citizen realized the use of digital payment. The evolution of cash payment to internet banking and internet banking to e-wallet has made transaction easier for all the services without exhibiting physical form. Payment Gateways, Digital Wallet, Internet Banking use has risen as being fast and instant. Though the recent payments are secure on theft front with the use of digital money by many users at many times online payment system might face problem on digital money transfer with issues such as wrong payment, link failure or single point failure. There might be more problems such as insider problem and transaction being transparent. For such situations more secure and private path towards security is needed as insufficiency will give rise to risk mitigation. The paper recommends a payment system which will be based on privacy and permission laid by blocks to blocks for use in financial sector. The architecture proposed integrates the digital wallet with different banks to give foundation of Blockchain for secure transactions. The peer to peer network will share transactions as well share load to minimize load on central banking system keep the load distributed and secure overall data centres. © 2022 IEEE.
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The Covid-19 epidemic has wreaked havoc on the global economy indeed, Malaysia was unavoidable from this. Nevertheless, this has created a new transformation and renovation for the FinTech industry to develop tremendously. The users of digital wallets are anticipated to grow and hastened the shift from physical payment to digital payment. Touch' n Go e-wallet is one of the FinTech innovation platforms that growing quickest rate ever in Malaysia's emerging market, owing to the upward demand for contactless payments throughout Southeast Asia due to the epidemic. The adoption of digital wallets only grew extensively during the Covid-19 pandemic periods in Malaysia. Hence, the main purpose of this study is to determine the predictors that influence the intention to use Touch' n Go e-wallet among Millennial in Malaysia, particularly during the Covid-19 endemic. This study has proposed to extend the TAM model (perceived usefulness, perceived ease of use) with perceived risk and satisfaction predictors. A sample of a total of 150 millennial in Malaysia who use Touch' n Go e-wallet to participate in the survey. Millennial account for approximately one-third of Malaysia's population and roughly 50 percent of the labour force in Malaysia. The hypotheses were further carried out by employing the ordinary least squares regression analysis. The findings revealed that among Malaysia's millennials, perceived ease of use and consumers satisfaction have a substantial impact on their desire to use Touch' n Go e-wallets app. In order to increase the usage rates of digital payments transaction, the digital wallet service providers in Malaysia must focus on the usability and potential risks that might occur during the transactions are held. More so, a good customer experience will lead to a satisfactory level in using the e-wallet of Touch' n Go. This empirical study provides a model for government to stimulate and foster digital payment in the coming years. © 2022 IEEE.
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Online purchasing is increasing because customers are shifting to digital wallets and digital money, as these services are provided by different microfinance and other commercial banking sectors, and different online brands are working in Pakistan to support environmental sustainability. The objective of this study was to demonstrate to what extent low distribution charges and low transit time is contributing to impulsive buying when customers can use digital money in Pakistan. The study was conducted using survey research. Importantly, 650 questionnaires were distributed to the respondents with a received response rate of 40%. The study found that digital money (e-wallet) is positively associated with impulsive buying. Moreover, the moderating role of distribution charges and low transit time has been significant in impulsive buying has been significant. This study concludes that low transit time and load distribution charges must be considered by online businesses and brands working in Pakistan to ensure productivity and capture a larger market share of impulsive buying in Pakistan. Also, the current study contributes a theoretical framework to the knowledge and literature related to impulsive buying. The scope of this study is limited to the online businesses and brands that are working to provide products and services to the Pakistani people with the help of digital money and digital transactions. Significantly, this study provides significant future directions that are important to consider for upcoming studies to focus on and contribute to effectively. Copyright © 2023 Wei, Xiao, Yaqub, Irfan, Murad and Yaqub.
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E-wallet is a part of the fintech solution that provides customer convenience through fast speed of transaction using RFID technology, QR code and stable internet connection. The usage of e-wallet in Malaysia and Sarawak has risen in the past few years and accelerated during the Covid-19 pandemic crisis due to the needs of contactless payment to reduce the spread of the virus. However, the usage of e-wallet and factors that affect the usage of e-wallet in Sarawak has not been identified through research. Therefore, this research aims to identify the factors influencing e-wallet usage and evaluate the factors using Technology Acceptance Model (TAM) affecting Sarawakians perception towards e-wallet in general and towards Sarawak's own e-wallet app, SarawakPay. Data collection of online questionnaires have been distributed and 111 responses was analyzed using descriptive analysis and correlation analysis as well as multiple linear regression to obtain mean and standard deviation values. Five formulated hypotheses were tested using multiple linear regression showing a significant and positive relationship among the TAM variables. Descriptive analysis results have also shown that top factors affecting usage of SarawakPay is performance expectancy and perceived value. The result from this research indicates that the usage of e-wallet in Sarawak is still at medium level. The evaluation using TAM shows that there is significant relationship between the Technological and Social factors to the usage of e-wallet in Sarawak. © 2022 IEEE.
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Since the COVID-19 pandemic, businesses have faced unprecedented challenges when trying to remain open. Because COVID-19 spreads through aerosolized droplets, businesses were forced to distance their services;in some cases, distancing may have involved moving business services online. In this work, we explore digitization strategies used by small businesses that remained open during the pandemic, and survey/interview small businesses owners to understand preliminary challenges associated with moving online. Furthermore, we analyze payments from 400K businesses across Japan, Australia, United States, Great Britain, and Canada. Following initial government interventions, we observe (at minimum for each country) a 47% increase in digitizing businesses compared to pre-pandemic levels, with about 80% of surveyed businesses digitizing in under a week. From both our quantitative models and our surveys/interviews, we find that businesses rapidly digitized at the start of the pandemic in preparation of future uncertainty. We also conduct a case-study of initial digitization in the United States, examining finer relationships between specific government interventions, business sectors, political orientation, and resulting digitization shifts. Finally, we discuss the implications of rapid & widespread digitization for small businesses in the context of usability challenges and interpersonal interactions, while highlighting potential shifts in pre-existing social norms. © 2022 Owner/Author.
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The present research aims to investigate the determinants of e-wallet continuance usage intention in Malaysia using extending Technology Continuance Theory (TCT) via examining four variables, namely price benefit, trust, habit, and operational constraints. This paper adopts a quantitative approach to collect data with non-probability sampling using the purposive sampling technique. An online survey was conducted and a total of 379 respondents submitted their answers. The obtained results have shown that continue use of e-wallet is not affected by perceived usefulness (PU) and trust. However, there is a significant influence associated with perceived ease of use (PEU), PU, and satisfaction toward user's attitude that, in turn, substantially impacts the users' intention to continue to use e-wallet. This is one of the prior studies exploring Malaysian's intention to continue using e-wallet, using the TCT model as the research framework, and through examining four variables adopted from the literature, including price benefit, habit, trust, and operational constraints. The practical implications for the service providers and policymakers from the present findings can be used to develop strategies to gain a sustainable, competitive advantage, and promote continuous intention of e-wallet usage.
ABSTRACT
E-wallet usage in transactions during the Covid-19 pandemic is a cashless movement that supports breaking the chain of transmission of the Covid-19 virus. Intention to use E-wallet during the pandemic is high due to the stay-at-home recommendation that was enforced since the beginning of the breakdown of the first case in Indonesia. Several studies on technology acceptance have been carried out and this study presents a research framework by integrating technology acceptance model (TAM) and theory of planned behavior (TPB) to obtain more comprehensive results to increase technology acceptance intentions by adding virus fear and risk perception to the models that have been tested previously, since the research was conducted when the pandemic is ongoing. The results reveal that perceived usefulness, perceived ease of use, and perceived risk have a direct or indirect effects on attitudes toward using and behavioral intention to use, moderating results of fear of covid19 on attitudes and intentions as well was found to significantly increase behavioral intention to use E-wallet during the Covid-19 pandemic. © 2022 by the authors;licensee Growing Science, Canada.
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Financial Technology (Fintech) is the implementation of the latest technology advancement to enhance financial operations. It is used to automate these operations and make them more simple, improve their productivity and quality and reduce human interactions. Fintech payment is used widely to perform financial transactions electronically through many channels and products. Fintech is used to advance Payments by implementing technology in Credit and Debit Cards, constantly improving mobile and online payments and banking, attaching new features in ATMs, and allowing customers to initialize digital wallets. During the pandemic of Covid-19, there has been an increase in the usage of Fintech payments technologies. In addition, many payment services have been introduced to help with the procedures implemented to reduce the spread of the virus. This literature review concentrates on Fintech payments and focuses on factors affecting the usage of these payments. The factors which will be focused on are Covid-19, Regulations, Customer Experience, and Quality of payments products and services. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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A digital wallet also known as "E-wallet" refers as financial transaction that proceeding payment through an electronically system and device. The digital revolution continues to transform most of our everyday lives especially in this challenging world of pandemic Covid-19. In the new norms, government encouraged to utilize e-wallet as a way to prevent contagious by incentive of eBelia also ePenjana. As e-wallet actively used, this has increased the mass growth of E-wallet providers. Due to accumulation of e-wallet, the aim is to provide overall ranking towards e-wallet payment system for consumers in selecting efficient payment system for transaction. For the solution, this research has utilized the Multi-Criteria Decision Making (MCDM) method of Fuzzy Analytical Hierarchy Process (FAHP). In order to assist consumers in selecting a higher-quality digital wallet payment system, this study assess 4 criteria of E-wallet Payment System quality, with the top 3 alternative of e-wallet providers. Based on the highest weightage value, the most preferable criteria and alternatives for e-wallet will established. Touch 'n Go had become the preferable e-wallet with weightage of 0.419. Among all criteria, security became the most essential factor in selecting e-wallet. In the future, researchers are encouraged to use another approach in MCDM. © 2022, Mathematical and Research Society. All rights reserved.
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This study proposed a novel attempt to explain the effect of government support and individual’s perceived susceptibility to COVID-19 in adopting e-Wallet by integrating technology acceptance model (TAM) and health belief model (HBM). A total of 232 valid responses were collected through online survey. The hypotheses were analysed and validated by using the partial least square structural equation modelling (PLS-SEM) approach. The study found that the HBM construct, which is perceived susceptibility, was only mediated by perceived usefulness. Meanwhile, government support was fully mediated by both perceived usefulness and perceived ease of use. The FinTech practitioners should consider the ease of use and usefulness of e-Wallet in fulfilling the needs of the consumers. In addition, instead of subsidising the consumers, the Government should also focus on the public facilities such as the stable connectivity that allow the consumers to stay connected and trust on the connectivity for e-Wallet. This study adopted holistic and integrative modesl which are TAM and HBM to explain the intention to adopt e-Wallet services during COVID-19 pandemic. © 2022, Asia Business Research Corporation. All rights reserved.
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This time around, technology development is growing at a very fast pace, especially in the area of information technology. It brings a lot of changes in other fields as well, like the field of financial technology. Digital payment, such as Pay later can be recognized by a large number of people. As the time goes by, the usage of Pay later has increased, and people would rather choose Pay later rather than other payment methods. Aside from that, since the COVID-19 pandemic, people tend to use Pay later more than before. Hence, this research will show the analysis of Intention to Use on Pay later payment system during COVID-19 Pandemic. The result in this study is based on 439 respondents that were obtained from November - December 2020 who are actively using Pay later to do transactions as a mobile payment method in Indonesia and collected by using SmartPLS as a tool for the Structural Equation Model (SEM), with a purposive sampling method. With the proposed model, there are eight hypotheses. In this study, Perceived Ease of Use has no siginificant impact on the Intention To Use, but other hypotheses resulted to be significant. © 2022 The authors.
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This paper examines factors affecting the usefulness and behavioral intention to use E- Wallet on mobile devices in the context of Covid-19 pandemic in Vietnam. Under the social distancing policy adopted by the Government, it is necessary to reduce cash payment activities. The researcher investigates 5 factors to enhance behavioral intention to use E-Wallet, including Perceived Ease of Use, Perceived Usefulness, Convenience, Security and Privacy, and Social Influence. Also, Perceived Usefulness is considered a crucial factor in stimulating new users to use E- Wallet payment on mobile devices. Using SEM method, the researcher analyzes data collected from users with payment activities in the Covid-19 pandemic. The result illustrates a positive correlation of examined factors with Perceived Usefulness and Behavioral Intention. Whereas Social Influence strongly affects Behavioral Intention, Security and Privacy does not show a statistically significant relationship with it. Nevertheless, Security and Privacy has the strongest impact on the enhancement of the usefulness to users. From these results, the researcher discusses administrative implications to improve Perceived Usefulness and Behavioral Intention of users in Vietnam. © 2022 IEEE.
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This paper aims to examine the determinant factors that influence e-Wallet usage behavior, as mediated by trust and perceived risk. The research data was collected using an online questionnaire distributed using a convenience and snowball sampling technique, yielding 354 e-Wallet users. AMOS 22 software was used to analyze the data using the structural equation modeling (SEM) technique. They were tested for validity, reliability, normality, outlier, and goodness-of-fit to ensure that the model, indicators, and research data were valid. Trust, financial incentives, dispositional trust, and innovativeness had a significant positive effect on usage behavior, whereas perceived risk had no effect. © 2021 IEEE.