E-Wallet Usage Intention through Technology Acceptance Model and Technology Readiness in Indonesia

Abstract

Digital transformation plays an important role in affecting consumer behavior in society. One of the changes that have occurred in society can be seen in the way people buy and pay for products using e-wallets. This phenomenon is supported by the emergence of the COVID-19 pandemic which requires people to keep their distance from one another. These factors ultimately enhance the financial technology (fintech) revolution and present the habits of a cashless society. This study aims to determine the factors that influence the intention and readiness of the Indonesian people to use E-wallets through the TAM theoretical model and psychological factors of technology readiness to investigate the determinants that influence customer intentions to use E-wallet payment system. Data collection was carried out using online survey method with a purposive sampling technique. The research sample total 270 respondents with the characteristics of all Indonesian people who know and understand the E-wallet payment system and are over 18 years old. Data analysis using SEM-PLS with the help of SmartPLS 3.2.9 software. The results showed from eight hypotheses proposed, six hypotheses were accepted and two hypotheses were rejected. Technology readiness is proven to have a positive and significant effect on perceived ease of use and perceived uselfulness, but does not directly influence the intention to use E-wallets. Perceived ease of use and perceived usefulness have a positive and significant effect on attitudes which ultimately affect the intention to use E-wallets. Technology readiness and trust are shown to have an insignificant effect on the intention to use E-wallets.