An Examination of Determinants for E-Wallet Adoption In Malaysia
Principal Investigator(s): View help for Principal Investigator(s) Thai Siew Bee, Multimedia University; Kuwa Yan Ying, Multimedia University
Version: View help for Version V1
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Project Citation:
Siew Bee, Thai , and Yan Ying, Kuwa. An Examination of Determinants for E-Wallet Adoption In Malaysia. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-06-29. https://doi.org/10.3886/E143981V1
Project Description
Summary:
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In
the era of innovation in information technology, everything is embedded with
technology. There is no exception in the financial sector as well. The term “FinTech”
origins with “Financial Services Technology Consortium” in the late 19th century. However, it only attracts the
attention of regulators, consumers and investors in 2014. It was initially
applied at the back-end systems of financial and banking institutions. However,
now Fintech has been shifted to a more consumer-oriented way. Fintech can be explained
as the combination of financial services and information technology where it
provides financial services for consumers through technology and covers
everything from cryptocurrency to mobile wallets application. E-wallet is one
of the examples of FinTech in payments and infrastructure that can be freely
adopted by everyone. High adoption of E-wallet can lead a country to move
towards a cashless society and have a better economic growth and environment.
However, the penetration of E-Wallet usage in Malaysia is still on its early
stages as compared to other countries. Therefore, this research is to examine
the factors that affect the adoption of E-Wallet in Malaysia based on 5
aspects: Perceived Ease of Use (PEU), Perceived Usefulness (PU), Perceived Risk
(PR), Social Influence (SI) and Government Support (GS). The research is
carried out using questionnaire to a targeted group of 100 respondents of
e-wallet user in Malaysia using convenient sampling method. The multiple
regression analysis has been carried out to analyse the relationship of each
factor towards the adoption of e-wallet among the respondents. The result shows
social influence (SI) has a significant relationship with adoption of E-Wallet
in Malaysia due to majority of the respondents are at their prime age and their
behaviours inclined to be influenced by the reference group. The limitation of
this study is the sample of the respondents is limited to the certain areas due
to the Covid -19 pandemic even though it has been carried out using the online
questionnaire. The results from this study can be used by the SME in Malaysia
in digitalised their business through the e-wallet payment in transforming
their conventional business to digital business and ultimately spur the overall
digital economy in Malaysia.
Funding Sources:
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Multimedia University Malaysia (Self Funded)
Scope of Project
Subject Terms:
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E-Wallet
Geographic Coverage:
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Malaysia
Time Period(s):
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11/1/2020 – 2/28/2021
Collection Date(s):
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11/1/2020 – 1/31/2021
Universe:
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E-wallet users in Malaysia with the age above18 years old.
Methodology
Response Rate:
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The data collection was conducted virtually via Google Form. A
quantitative approach was designed to conduct research regarding factors that
affect the adoption of E-wallet in Malaysia. The Google Form link of the
questionnaire was distributed to respondents via Whatsapp, Facebook messenger
and Wechat. The questionnaire was closed in 2 weeks’ time (17th January 2021 -
30th January 2021) since the number of responses hit our target which is 100
responses. All participants in the study were voluntary. It took only about 5
to 10 minutes to fill this questionnaire. Distribution of the questionnaire was
mostly done by the help of WhatsApp which was a faster choice for distributing
the survey link so that anyone and everyone could participate in the survey
anywhere anytime by using smart devices.
Sampling:
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Sampling is convenient sample by distribute the questionnaire.
The respondents in this survey was on voluntary basis. Therefore, no consent letter was sent out to the respondents. Besides, it was a convenient sample.
The respondents in this survey was on voluntary basis. Therefore, no consent letter was sent out to the respondents. Besides, it was a convenient sample.
Data Source:
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Raw data from questionnaire.
Unit(s) of Observation:
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Individual E -Wallet User
Geographic Unit:
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Malaysia
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