Utilizing the UTAUT-3 Model to Analyze Millennials' Adoption of QRIS Financial Transaction Technology in Indonesia: The Moderating Role of Experience and Lifestyle

Abstract

The purpose of this research is to determine whether Indonesian millennials' experiences and their lifestyle regarding FinTech influences the acceptance of QRIS. This study applies the UTAUT-3 model to examine how the moderating variables may affect millennials' behavioral intentions and use behaviors toward QRIS. Quantitative methods are employed in this study; 200 samples of millennials in Makassar, South Sulawesi, Indonesia, were collected and analyzed using SEM-PLS. The findings show that performance expectancy, effort expectancy, social influence, hedonic motivation, price value, and technology readiness significantly affect behavioral intention (p < 0.05). Similarly, facilitating conditions, habit, technology readiness, and security and privacy significantly affect use behavior (p < 0.05). However, habit, regulation and policy, and security and privacy did not significantly impact behavioral intention (p ≥ 0.05).