Do You Have a Digital Wallet? A Study of E-Wallet during the COVID-19 Pandemic
Abstract
Following World Health Organization (WHO) recommendation, government officials are taking measures to facilitate non-contact payments that allow consumers to conduct contactless transactions, use cashless payment methods, and distance themselves physically from ATMs after the Corona Virus Disease 2019 (COVID-19) outbreak. COVID-19 is prevented from spreading through social distancing enabled by e-Wallets. Consequently, e-Wallets are becoming more popular to facilitate smoother, more efficient online transactions. We aim to investigate the key factors to use an e-Wallet since this COVID-19. The four factors included in the research are perceived risk, perceived ease of use, perceived convenience, and government support. Data from this study were collected through electronic questionnaires. The online survey received a total of 100 respondents who are e-Wallet users. Our findings disclosed that perceived risk, perceived ease of use, and perceived convenience are associated with intentions to use e-Wallets. The results offer useful insight into the field of e-Wallets.
Full Text:
PDFReferences
Aji, H. M., Berakon, I., & Md Husin, M. (2020). COVID-19 and E-wallet usage intention: A multigroup analysis between Indonesia and Malaysia. Cogent Business & Management, 7(1), 1804181. doi:10.1080/23311975.2020.1804181
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. doi:10.1016/0749-5978(91)90020-T
Alfrina, A. (2021, July 8). How has MCO affected the Malaysian economy? Retrieved from https://university.taylors.edu.my/en/campus-life/news-and-events/news/how-has-mco-affected-the-malaysian-economy.html
Anuar, N. I., Nik Mahdi, N. M., Nik Hashim, N. A., Mohamad, S. R., Zainuddin, S. A., Azmi, N. F., & Wan Zulkiffli, W. F. (2020). The barriers towards the adoption of e-wallet payment system. International Journal of Engineering Research and Technology, 13(11), 3772. doi:10.37624/ijert/13.11.2020.3772-3777
Anwar, A., Kee, D. M. H., Salman, A., & Jabeen, G. (2021). Impact of COVID-19 social media news on employee behavior: The mediating role of psychological well-being and depression, Asian Development and Educational Studies, 11(1), 196-211. doi:10.1108/AEDS-07-2020-0159
Bauer, R. A. (1960). Consumer behavior as risk taking. Proceedings of the 43rd National Conference of the American Marketing Apssocation, June 15, 16, 17, Chicago, Illinois, 1960.
Berry, L. L., Seiders, K., & Grewal, D. (2002). Understanding service convenience. Journal of Marketing, 66(3), 1–17.
Chang, C., Yan, C., & Tseng, J. (2012). Perceived convenience in an extended technology acceptance model: Mobile technology and English learning for college students. Australasian Journal of Educational Technology, 28(5), 809-826. doi:10.14742/ajet.818
Chawla, D., & Joshi, H. (2020). Role of mediator in examining the influence of antecedents of mobile wallet adoption on attitude and intention. Global Business Review, 097215092092450. doi:10.1177/0972150920924506
World Health Organization. (n.d.). Coronavirus. Retrieved from https://www.who.int/health-topics/coronavirus#tab=tab_1
Cunningham, M. S. (1967). The major dimensions of perceived risk. Risk taking and information handling in consumer behavior, 82-108.
Daragmeh, A., Sági, J., & Zéman, Z. (2021). Continuous intention to use E-wallet in the context of the COVID-19 pandemic: Integrating the health belief model (HBM) and technology continuous theory (TCT). Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 132-154. doi:10.3390/joitmc7020132
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319-340. doi:10.2307/249008
Edeh, F. O., Aryani, D. N., Kee, D. M. H., Samarth, T., Nair, R. K., Tan, Y. S., & Teh, Y. C. (2021). Impact of COVID-19 pandemic on consumer behavior towards the intention to use e-wallet in Malaysia. International Journal of Accounting & Finance in Asia Pasific (IJAFAP), 4(3), 42-59.
Fishbein, M., & Ajzen, I. (2011). Predicting and changing behavior: The reasoned action approach. Oxfordshire, Taylor & Francis.
MyGovernment. (n.d.). Getting electronic payment information/e-wallet. Retrieved from https://www.malaysia.gov.my/portal/content/30797
Grover, P., Kar, A. K., Janssen, M., & Ilavarasan, P. V. (2019). Perceived usefulness, ease of use and user acceptance of blockchain technology for digital transactions—Insights from user-generated content on Twitter. Enterprise Information Systems, 13, 771–800.
Guriting, P., & Oly Ndubisi, N. (2006). Borneo online banking: Evaluating customer perceptions and behavioral intention. Management Research News, 29(1/2), 6-15. doi:10.1108/01409170610645402
Hamid, A. A., Razak, F. Z. A., Abu Bakar, A., & Abdullah, W. S. W. (2016). The effects of perceived usefulness and perceived ease of use on continuance intention to use e-government. Procedia Economics Finance, 35, 644–649.
Hasan, M. K., Ismail, A. R., & Islam, M. F. (2017). Tourist risk perceptions and revisit intention: A critical review of literature. International Journal of Bank Marketing, 35(3), 354-369.doi:10.1080/23311975.2017.1412874
Hu, M. K., & Kee, D. M. H. (2021a). SMEs and business sustainability: Achieving sustainable business growth in the new Normal. In N. Baporikar, (Ed.), Handbook of Research on Sustaining SMEs and Entrepreneurial Innovation in the Post-COVID-19 Era (pp. 331-351). Hershey, PA: IGI Global. doi:10.4018/978-1-7998-6632-9.ch016
Hu, M. K., & Kee, D. M. H. (2021b). Strategic measures and tactical interventions for COVID-19 Impact Relief on SMEs. In N. Baporikar, (Ed.), Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs (pp.522-541). Hershey, PA: IGI Global. doi:10.4018/978-1-7998-7436-2
Huang, R. (2020, March 9). WHO encourages use of contactless payments due to COVID-19. Retrieved from https://www.forbes.com/sites/rogerhuang/2020/03/09/who-encourages-use-of-digital-payments-due-to-covid-19/?sh=7989231e41eb
Jackson, C. M., Chow, S., & Leitch, R. A. (1997). Toward an understanding of the behavioral intention to use an information system. Decision Sciences, 28(2), 357-389.
Karim, M. W., Haque, A., Ulfy, M. A., Hossain, M. A., & Anis, M. Z. (2020). Factors influencing the use of E-wallet as a payment method among Malaysian young adults. Journal of International Business and Management, 3(2), 01-12.
Kee, D. M. H., Al-anesi, M., Chandran, S., Elanggovan, H., Nagendran, B., & Mariappan, S. (2021). COVID-19 as a double-edged sword: The perfect opportunity for GrabFood to optimize its performance. Journal of the Community Development in Asia, 4(1), 53-65.
Li, C., Mirosa, M., & Bremer, P. (2020). Review of online food delivery platforms and their impacts on sustainability. Sustainability, 12(14), 5528. doi:10.3390/su12145528
Liu, D., & Li, M. (2019). Exploring new factors affecting purchase intention of mobile commerce: Trust and social benefit as mediators. International Journal of Mobile Communications, 17(1), 108-125.
Risk. (n.d.). In Cambridge Dictionary. Retrieved from https://dictionary.cambridge.org/dictionary/english/risk
Ministry of Finance Malaysia. (2020). Frequently asked questions (FAQ) RM50 ePENJANA credits progamme. Retrieved from https://penjana.treasury.gov.my/pdf/ePENJANA-FAQ-EN.pdf
Mun, Y. P., Khalid, H., & Nadarajah, D. (2017). Millennials’ perception on mobile payment services in Malaysia. Procedia Computer Science, 124, 397–404.
Munir, F., Anwar, A., & Kee, D. M. H. (2021). Online learning and students’ fear of Covid-19 and online learning: Study in Malaysia and Pakistan. The International Review of Research in Open and Distributed Learning, 22(4), 1-21.
Okazaki, S., & Mendez, F. (2013). Exploring convenience in mobile commerce: Moderating effects of gender. Computers in Human Behavior, 29(3), 1234-1242. doi:10.1016/j.chb.2012.10.019
Ozkan, M., & Solmaz, B. (2015). Mobile addiction of generation z and its effects on their social lifes. Procedia - Social and Behavioral Sciences, 205, 92-98. doi:10.1016/j.sbspro.2015.09.027
Ozturk, A. B., Bilgihan, A., Nusair, K., & Okumus, F. (2016). What keeps the mobile hotel booking users loyal? Investigating the roles of self-efficacy, compatibility, perceived ease of use, and perceived convenience. International Journal of Information Management, 36(6), 1350-1359. doi:10.1016/j.ijinfomgt.2016.04.005
Pachpande, B. R., & Kamble, A. A. (2018). Study of e-wallet awareness and its usage in Mumbai. Journal of Commerce and Management Thought, 9(1), 33-45. doi:10.5958/0976-478x.2018.00004.6
Peter, J. P., & Olson, J. C. (2005). Consumer behavior and marketing strategy. New York: McGraw-Hill/Irwin.
Phonthanukitithaworn, C., Sellitto, C., & Fong, M. W. (2016). An investigation of mobile payment (M-payMent) services in Thailand. Asia-Pacific Journal of Business Administration, 8(1), 37-54. doi:10.1108/apjba-10-2014-0119
Povera, A., & Harun H. N. (2021). Govt outlines programmes to assist women, youth and persons with disabilities. Retrieved from https://www.nst.com.my/news/nation/2021/03/674697/govt-outlines-programmes-assist-women-youth-and-persons-disabilities
Quach, S., Thaichon, P., & Hewege, C. (2020). Triadic relationship between customers, service providers and government in a highly regulated industry. Journal of Retailing and Consumer Services, 55(C), 102148. doi:10.1016/j.jretconser.2020.102148
Rahi, S., Khan, M. M., & Alghizzawi, M. (2020). Extension of technology continuance theory (TCT) with task technology fit (TTF) in the context of internet banking user continuance intention. International Journal of Quality & Reliability Management, 38(4), 986-1004. doi:10.1108/ijqrm-03-2020-0074
Roy, S. K., Shekhar, V., Lassar, W. M., & Chen, T. (2018). Customer engagement behaviors: The role of service convenience, fairness and quality. Journal of Retailing and Consumer Services, 44(1), 293-304.doi:10.1016/j.jretconser.2018.07.018
Saadé, R., & Bahli, B. (2005). The impact of cognitive absorption on perceived usefulness and perceived ease of use in on-line learning: An extension of the technology acceptance model. Information & Management, 42(2), 317-327. doi:10.1016/j.im.2003.12.013
The Star. (2021, June 04). Students put Ebelia credit to good use. Retrieved from https://www.thestar.com.my/news/nation/2021/06/04/students-put-ebelia-credit-to-good-use
Tarver, E. (2021, October 31). How do government subsidies help an industry? Retrieved from https://www.investopedia.com/ask/answers/060215/how-do-government-subsidies-help-industry.asp
Tunde, O. A., Kee, D. M. H., Ayodele, A. Y., Lukman, J. A., & Abiodun, A. O. (2021). Blessing or curse: Converting COVID-19 experience to entrepreneurial opportunity identification. Journal of Hunan University Natural Science, 48(10), 529-537.
Upadhayaya, A. (2012). Electronic Commerce and E-wallet. International Journal of Recent Research and Review, 1(1), 37-41.
Ursachi, G., Horodnic, I. A., & Zait, A. (2015). How reliable are measurement scales? External factors with indirect influence on reliability estimators. Procedia Economics and Finance, 20, 679-686. doi:10.1016/s2212-5671(15)00123-9
Venkatesh, V., & Davis, F. D. (2000). A theoretical extension of the technology acceptance model: Four longitudinal field studies. Management Science, 46(2), 186-204. doi:10.1287/mnsc.46.2.186.11926
Vijayasarathy, L. R. (2004). Predicting consumer intentions to use on-line shopping: The case for an augmented technology acceptance model. Information & Management, 41(6), 747-762. doi:10.1016/j.im.2003.08.011
Welch, E. W., Hinnant, C. C., & Moon, M. J. (2005). Linking citizen satisfaction with e-government and trust in government. Journal of Public Administration Research and Theory, 15(3), 371-391. doi:10.1093/jopart/mui021
Wijayanthi, I. (2019). Behavioral intention of young consumers towards E-wallEt adoption: An empirical study among Indonesian users. Russian Journal of Agricultural and Socio-Economic Sciences, 85(1), 79-93. doi:10.18551/rjoas.2019-01.09
Wisniewski, T. P., Polasik, M., Kotkowski, R., & Moro, A. (2021). Switching from cash to cashless paymentsduring the COVID-19 pandemic and beyond. SSRN Electronic Journal. doi:10.2139/ssrn.3794790
Xu, F., Huang, S. (S)., & Li, S. (2019). Time, money, or convenience: What determines Chinese consumers’ continuance usage intention and behavior of using tourism mobile apps? International Journal of Culture, Tourism and Hospitality Research, 13(3), 288-302. doi:10.1108/ijcthr-04-2018-0052
Zhao, Y., & Bacao, F. (2021). How does the pandemic facilitate mobile payment? An investigation on users’ perspective under the COVID-19 pandemic. International Journal of Environmental Research and Public Health, 18(3), 1016. doi:10.3390/ijerph18031016
DOI: https://doi.org/10.32535/ijafap.v5i1.1413
Refbacks
- There are currently no refbacks.
Copyright (c) 2022 Daisy Mui Hung Kee, Kah Huey Lai, Jia Ching Lee, Khang Jie Lee, Jia Long Lee, Idderena Yosanti, Dwi Nita Aryani

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
International Journal of Accounting and Finance in Asia Pacific (IJAFAP)
ISSN 2684-9763 (Print) | ISSN 2655-6502 (Online)
DOI Prefix: 10.32535 by CrossRef
Published by AIBPM Publisher
JL. Kahuripan No. 9, Hotel Sahid Montana, Malang, Indonesia
Email: adm.ijafap@gmail.com
Phone: +62 341 366222
Website: https://ejournal.aibpmjournals.com/index.php/IJAFAP
Governed by
Association of International Business and Professional Management
Email: admin@aibpm.org
Website: https://www.aibpm.org/
Licensing Information
International Journal of Accounting and Finance in Asia Pacific (IJAFAP) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.