Revealing the behavior intention of techsavvy generation z to use electronic wallet usage: A theory of planned behavior based measurement

Abstract

Tech-savvy Generation Z will dominate the global population. Thus, in order to stay competitive, it is essential for a business that targets this demographic to understand this generation’s characteristics. The present research measured the behavioral nature of Generation Z in using the electronic wallet (e-wallet). Specifically, the present research highlighted online and in-store transactions. The measurement in this research was done by using the famous Theory of Planned Behavior (TPB) model. A multivariate analysis with Structural Equation Model (SEM) was conducted, and six hypotheses were proposed. A questionnaire was used as the instrument development to gather the data needed for the purpose of this study; 155 respondents participated. The result showed that the TPB model was appropriate in revealing the Generation Z intention on e-wallet’s usage. Statistical findings and practical perspectives were also discussed in this paper. E-wallet providers can use the result derived from this study to develops their marketing strategies.