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Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable

An electronic wallet is a form of online service that facilitates the electronic transfer of funds through the utilization of Internet connectivity. The utilization of electronic wallets has been expanded to encompass a wide range of online activities, including the facilitation of purchasing transa...

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Main Authors: Abu Bakar, Nashirah, Rosbi, Sofian, Norizan, Siti Noraisyah, Mohd Yusoff, Marmeezee, Ali, Muhammad Ahmar
Format: Article
Language:English
Published: Asian Scholars Network 2024
Subjects:
T173.2 Technological change
Online Access:http://irep.iium.edu.my/116024/6/116024_Factors%20influencing%20customer.pdf
http://irep.iium.edu.my/116024/
https://myjms.mohe.gov.my/index.php/ijbtm/issue/view/1854
https://doi.org/10.55057/ijbtm.2024.6.1.34
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spelling my.iium.irep.1160242024-11-22T07:57:29Z http://irep.iium.edu.my/116024/ Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable Abu Bakar, Nashirah Rosbi, Sofian Norizan, Siti Noraisyah Mohd Yusoff, Marmeezee Ali, Muhammad Ahmar T173.2 Technological change An electronic wallet is a form of online service that facilitates the electronic transfer of funds through the utilization of Internet connectivity. The utilization of electronic wallets has been expanded to encompass a wide range of online activities, including the facilitation of purchasing transactions through e-commerce platforms. From the data collected by the Statistica Research Department, from 2020 until May 2023, the number of e-commerce scams in Malaysia is 19, 252 cases. In addition, Malaysia saw a drastic increase in online scams over the last two years during the COVID-19 pandemic. According to the Royal Malaysia Police (PDRM) Commercial Crimes Investigation Department (CCID), a total of 71,833 scams, amounting to more than RM5. 2 billion in losses, were reported from 2020 until May 2022. This situation creates a need to perform research that addresses this problem. Therefore, this study explored the perception of security factors linked to the acceptance of e-wallet usage among Malaysian customers. This study uses a quantitative research method with a questionnaire. The underpinning theory is the Technology Acceptance Model (TAM), which consists of two variables namely perceived usefulness (PU) and Perceived Ease of Use (PEOU). This theory is widening by including one additional variable, Perceived Security (PS). Then collected data were analysed using structural equation modeling. The population is Malaysian consumers who use e-wallet. The number of samples is 150 respondents. The finding shows all three variables are significant in increasing the adoption of e-wallets among Malaysian consumers. The findings of this study help e-wallet providers to develop better facilities to meet the customers' expectations. At the same time, this study provides insight to the central bank to develop policy on the security aspects of e-wallet services. This study also exposes the public to financial literacy of security for e-wallet usage to prevent deceived by scam activities. Asian Scholars Network 2024-03-31 Article PeerReviewed application/pdf en http://irep.iium.edu.my/116024/6/116024_Factors%20influencing%20customer.pdf Abu Bakar, Nashirah and Rosbi, Sofian and Norizan, Siti Noraisyah and Mohd Yusoff, Marmeezee and Ali, Muhammad Ahmar (2024) Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable. International Journal of Business and Technology Management, 6 (1). pp. 399-412. E-ISSN 2682-7646 https://myjms.mohe.gov.my/index.php/ijbtm/issue/view/1854 https://doi.org/10.55057/ijbtm.2024.6.1.34
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic T173.2 Technological change
spellingShingle T173.2 Technological change
Abu Bakar, Nashirah
Rosbi, Sofian
Norizan, Siti Noraisyah
Mohd Yusoff, Marmeezee
Ali, Muhammad Ahmar
Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
description An electronic wallet is a form of online service that facilitates the electronic transfer of funds through the utilization of Internet connectivity. The utilization of electronic wallets has been expanded to encompass a wide range of online activities, including the facilitation of purchasing transactions through e-commerce platforms. From the data collected by the Statistica Research Department, from 2020 until May 2023, the number of e-commerce scams in Malaysia is 19, 252 cases. In addition, Malaysia saw a drastic increase in online scams over the last two years during the COVID-19 pandemic. According to the Royal Malaysia Police (PDRM) Commercial Crimes Investigation Department (CCID), a total of 71,833 scams, amounting to more than RM5. 2 billion in losses, were reported from 2020 until May 2022. This situation creates a need to perform research that addresses this problem. Therefore, this study explored the perception of security factors linked to the acceptance of e-wallet usage among Malaysian customers. This study uses a quantitative research method with a questionnaire. The underpinning theory is the Technology Acceptance Model (TAM), which consists of two variables namely perceived usefulness (PU) and Perceived Ease of Use (PEOU). This theory is widening by including one additional variable, Perceived Security (PS). Then collected data were analysed using structural equation modeling. The population is Malaysian consumers who use e-wallet. The number of samples is 150 respondents. The finding shows all three variables are significant in increasing the adoption of e-wallets among Malaysian consumers. The findings of this study help e-wallet providers to develop better facilities to meet the customers' expectations. At the same time, this study provides insight to the central bank to develop policy on the security aspects of e-wallet services. This study also exposes the public to financial literacy of security for e-wallet usage to prevent deceived by scam activities.
format Article
author Abu Bakar, Nashirah
Rosbi, Sofian
Norizan, Siti Noraisyah
Mohd Yusoff, Marmeezee
Ali, Muhammad Ahmar
author_facet Abu Bakar, Nashirah
Rosbi, Sofian
Norizan, Siti Noraisyah
Mohd Yusoff, Marmeezee
Ali, Muhammad Ahmar
author_sort Abu Bakar, Nashirah
title Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
title_short Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
title_full Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
title_fullStr Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
title_full_unstemmed Factors influencing customer acceptance towards electronic wallets (e-wallets) in Malaysia: perceived security as focus variable
title_sort factors influencing customer acceptance towards electronic wallets (e-wallets) in malaysia: perceived security as focus variable
publisher Asian Scholars Network
publishDate 2024
url http://irep.iium.edu.my/116024/6/116024_Factors%20influencing%20customer.pdf
http://irep.iium.edu.my/116024/
https://myjms.mohe.gov.my/index.php/ijbtm/issue/view/1854
https://doi.org/10.55057/ijbtm.2024.6.1.34
_version_ 1817841061036294144
score 13.223943

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