The Analysis of Factors Affecting Behavioral Intention and Behavior Usage of E-Wallet Using Meta-UTAUT Model

Abstract

Massive increase in e-wallet users makes e-wallets an alternative payment transaction method in Indonesia. Research and surveys by Boku Inc. predict that e-wallet users in Indonesia will increase by three times in 2025. This study aims at identifying the factors underlying users' intention and behavior in using e-wallet services by applying the meta-UTAUT model. Variables were examined in the meta-UTAUT model, and other variables, including anxiety, trust, redressal, and service smartness, which underlie the purpose and behavior of using e-wallets from the user's perspective were added. This research is a quantitative study making use of primary data collected through online questionnaires to 269 e-wallet service users. The PLS-SEM method was utilized as a statistical analysis method with SmartPLS 3.3.3 software to process the data. This study found that trust has a positive effect on acceptance attitudes, redressal has a positive effect on trust, and service smartness has a positive effect on behavioral intentions. In contrast, anxiety negatively influences user attitudes towards e-wallet services, while effort expectancy and social influences have no direct and insignificant effect on intentions to use e-wallets. To contribute to e-wallet research that focuses more on the user's perspective, further research is on investigations of perceived security and perceived risk so that the model used can have predictive relevance with a higher R-square value.