For the past 10 years, the Malaysian government has encouraged more usage of electronic payments (ePayments), and the COVID-19 situation looks to be hastening a larger move towards a cashless society. More Malaysians are abandoning cash in favour of contactless payments, including the use of smartphone-embedded electronic wallets (eWallets) to fund online and in-store transactions, as a result of government financial incentives and COVID-19 lockup limitations. This study aims to identify factors affecting e-wallet adoption intention among Millennials in Sarawak. The study focuses the perceived security, perceived usefulness, perceived ease of use, and social influence on e-wallet adoption. Quantitative research is used by developing survey questionnaires through Google Form. 386 valid responses were collected and analysed using SPSS. The statistical results have demonstrated that perceived security, perceived usefulness, perceived ease of use, and social influence have significant positive relationship with e-wallet adoption among Millennials in Sarawak. The findings of this study allow digital payment providers to continuously enhance their e-wallet platforms or systems, and better undestand Millennials perception on e-wallet.
Alfred. (2021). The Future of Mobile Wallets: Opportunities and Challenges for the Wallet Integration. DCI. https://www.dotcominfoway.com/blog/opportunities-and-challenges-for-the-wallet-integration/#gref.
Alzubi, M. M., Alkhawlani, M. A., & El-Ebiary, Y. A. (2017). Investigating the factors affecting university students’ e-commerce intention towards: A case study of jordanian universities. Journal of Business & Retail Management Research, 12(01). https://doi.org/10.24052/jbrmr/v12is01/itfauseitacsoju
Chatterjee, D., & Bolar, K. (2019). Determinants of mobile wallet intentions to use: The mental cost perspective. International Journal of Human-Computer Interaction. 35(10), 859-869.
Davis. F. D., Bagozzi, R. P., Warshaw, P. R. (1989). User Acceptance of Computer Technology: A Comparison of Two Theoretical Models. Institute for Operations Research and the Management Sciences. Vol. 35, No. 8, pp. 982-100. DOI: 10.1287/mnsc.35.8.982
Liu, G. S. & Tai, P. (2016). A study of factors affecting the intention to use mobile payment services in Vietnam. Econ. World, 4, 249-273.
Filippo Giachi. (2020). Government Incentives Boosting Malaysian eWallet Adoption. Linkedin. https://www.linkedin.com/pulse/government-incentives-boosting-malaysian-ewallet-adoption-giachi?trk=public_profile_article_view
Jacie, T. (2021). Sarawak Pay Records 13 Million Transactions, Worth RM590M In Total. RinggitPlus. https://ringgitplus.com/en/blog/e-wallet/sarawak-pay-records-13-million-transactions-worth-rm590m-in-total.html.
Kasavana, M. L. (2008). Near Field Communication: Innovative Payment Technology. Retrieved from URL: http://www.jgbm.org/page/16%20Michael%20L.%20Kasavana.pdf
Krejcie, R. V., Morgan, D. W. (1970). Determining Sample Size for Research Activities. Education and Psychological Measurement. 30, pp. 607-610. DOI: https://doi.org/10.1177/001316447003000308
Kumari, N., Khanna, J. (2017). Cashless Payment: A Behavioural Change to Economic Growth. Qualitative and Quantitative Research Review. Vol. 2, Issue 2, pp. 82
Lee, C., Yun, H., Lee, C., & Lee, C. C. (2015). Factors affecting continuous intention to use mobile wallet : Based on value-based adoption model. The Journal of Society for e-Business Studies, 20(1), 117–135. https://doi.org/10.7838/jsebs.2015.20.1.117
Yang, M., Mamun, A. A., Mohiuddin, M., Nawi, N. C., & Zainol, N. R. (2021). Cashless Transaction: A study on intention and adoption of e- wallets. Economic and Business Aspects of Sustainability. Retrieve from https://www.mdpi.com/2071-1050/13/2/831/htm
Ming, K. L., Jais, M., Wen, C. C., & Zaidi, N. S. (2020). Factor affecting adoption of E-Wallet in Sarawak. International Journal of Academic Research in Accounting, Finance and Management Sciences, 10(2). https://doi.org/10.6007/ijarafms/v10-i2/7446
Shafi, M. R. H., & Misman, F. N. (2019). The perceived benefit and risk framework of E-wallet adoption among the early adopters in Malaysia. Proceedings of the 2nd Economics and Business International Conference. https://doi.org/10.5220/0009326905790584
Nag, G. (2019). E-wallet- factors affecting its intention to use. International Journal of Recent Technology and Engineering, 8(4), 3411–3415. https://doi.org/10.35940/ijrte.d6756.118419
Nanda, A. (2019). Consumers’ intention to use mobile wallets. AIMS International Journal of Management, 13(2), 143. https://doi.org/10.26573/2019.13.2.4
Oppotus Blog. (2020). E-wallet usage in Malaysia 2020: Thriving in lockdown. Oppotus. https://www.oppotus.com/e-wallet-usage-in-malaysia-2020/.
Satyen Kothari. (2018). 5 reasons why consumers still don't use digital payments. The Economic Times. https://economictimes.indiatimes.com/wealth/spend/5-reasons-why-consumers-still-dont-use-digital-payments/articleshow/64699938.cms?from=mdr
Sticpay News. (2021). Biggest E-wallet trends in Malaysia. Sticpay. https://www.sticpay.com/news/news_detail/ewallet-trends-malaysia
Teo, S. C., Law, P. L., & Koo, A. C. (2020). Factors affecting adoption of e-wallets among youths in Malaysia. Journal of Information System and Technology Management, 5(19), 39–50. https://doi.org/10.35631/jistm.519004
Teoh. T. T., Melissam, H. C. Y., Lee, T. H. (2020). E-Wallet Adoption: A case in Malaysia. International Journal of Research in Commerce and Management Studies. Vol. 2 (02), pp. 216-233.
The Star. (2020a). Towards A Cashless Society with E-Tunai Rakyat. The Star Online. Retrieved from URL: https://www.thestar.com.my/business/business-news/2020/01/15/towards-a-cashless-societywith-e-tunai-rakyat
The Star. (2020b). Covid-19 Outbreak Steepens Adoption Curve of E-wallets in Malaysia. The Star Online.
The official portal of the Sarawak Government. (2020). Sarawak Population. Sarawak Government. https://sarawak.gov.my/web/home/article_view/240/175/.
Tiara, O. R., & Usman, O. (2019). Effect of trust, perceived of use, consumer perception, and behavior intention on the use of digital wallet among college students. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3509558
Wong, C. Y., & Mohamed, P. M. I. (2021). Understanding the factors that influence consumer continuous intention to use e-wallet in Malaysia. Research in Management of Technology and Business, 2(1), 561-576.
Xavier, P. S., & Zakkariya, K. A. (2021). Factors predicting consumers’ continuance intention to use mobile wallets: Evidence from Kerala, India. Colombo Business Journal, 12(1), 114. https://doi.org/10.4038/cbj.v12i1.73
Yang, M., Mamun, A. A., Mohiuddin, M., Nawi, N. C., & Zainol, N. R. (2021). Cashless transactions: A study on intention and adoption of e-wallets. Sustainability, 13(2), 831. https://doi.org/10.3390/su13020831
Yvonne, T. (2020). Boost aims for 1 mln Sarawak users in 2 years. Borneo Post Online. https://www.theborneopost.com/2020/01/18/boost-aims-for-1-mln-sarawak-users-in-2-years/#:~:text=KUCHING%3A%20Homegrown%20lifestyle%20e%2Dwallet,of%20e%2Dwallet%20in%20Sarawak.
Zoria, S. (2020). What is E wallet and how does it work. https://medium.com/swag-soft/what-is-e-wallet-and-how-does-it-work-case-study-included-9345eb6969a4
In-Text Citation: (Toh et al., 2022)
To Cite this Article: Toh, T. L., Kiew, J. P., & Wong, A. H. A. (2022). Factors Influencing the Intention to Use E-Wallet among Millennials. International Journal of Academic Research in Business and Social Sciences, 12(11), 343– 353.
Copyright: © 2022 The Author(s)
Published by Knowledge Words Publications (www.kwpublications.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
