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Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia

The paper investigated the relationship between readiness towards a cashless society and adoption of cashless applications among Malaysians. Specifically, drivers and inhibitors were explored and examined to assess their direct and indirect effects through the development of the Cashless Society Rea...

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Main Authors: Balakrishnan, Vimala, Shuib, Nor Liyana Mohd
Format: Article
Published: Elsevier Sci Ltd 2021
Subjects:
H Social Sciences (General)
HE Transportation and Communications
Online Access:http://eprints.um.edu.my/26926/
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spelling my.um.eprints.269262022-04-14T02:40:08Z http://eprints.um.edu.my/26926/ Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia Balakrishnan, Vimala Shuib, Nor Liyana Mohd H Social Sciences (General) HE Transportation and Communications The paper investigated the relationship between readiness towards a cashless society and adoption of cashless applications among Malaysians. Specifically, drivers and inhibitors were explored and examined to assess their direct and indirect effects through the development of the Cashless Society Readiness-Adoption model. The model was developed based on Unified Theory of Acceptance and Use of Technology 2 and Technology Readiness Index 2.0. Self-administered surveys were administered in online and offline modes, resulting in 258 valid responses (Mage = 34.5; SDage = 7.82). Structured equation modelling revealed Ease of Use, Usefulness, Innovativeness, Optimism and Lack of awareness to directly affect users' readiness in going cashless. Interestingly, perceived readiness had no direct effect in the adoption of digital payment services, however, the effect was found to be significant with the inclusion of risk and intrinsic motivation as the mediating factors. Similarities and dissimilarities with existing studies are discussed in this paper. Results would be beneficial to respective parties such as service providers, financial institutions and government agencies to develop and design strategies to encourage more people to embrace digital payment services effectively. Elsevier Sci Ltd 2021-05 Article PeerReviewed Balakrishnan, Vimala and Shuib, Nor Liyana Mohd (2021) Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia. Technology in Society, 65. ISSN 0160-791X, DOI https://doi.org/10.1016/j.techsoc.2021.101554 <https://doi.org/10.1016/j.techsoc.2021.101554>. 10.1016/j.techsoc.2021.101554
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic H Social Sciences (General)
HE Transportation and Communications
spellingShingle H Social Sciences (General)
HE Transportation and Communications
Balakrishnan, Vimala
Shuib, Nor Liyana Mohd
Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
description The paper investigated the relationship between readiness towards a cashless society and adoption of cashless applications among Malaysians. Specifically, drivers and inhibitors were explored and examined to assess their direct and indirect effects through the development of the Cashless Society Readiness-Adoption model. The model was developed based on Unified Theory of Acceptance and Use of Technology 2 and Technology Readiness Index 2.0. Self-administered surveys were administered in online and offline modes, resulting in 258 valid responses (Mage = 34.5; SDage = 7.82). Structured equation modelling revealed Ease of Use, Usefulness, Innovativeness, Optimism and Lack of awareness to directly affect users' readiness in going cashless. Interestingly, perceived readiness had no direct effect in the adoption of digital payment services, however, the effect was found to be significant with the inclusion of risk and intrinsic motivation as the mediating factors. Similarities and dissimilarities with existing studies are discussed in this paper. Results would be beneficial to respective parties such as service providers, financial institutions and government agencies to develop and design strategies to encourage more people to embrace digital payment services effectively.
format Article
author Balakrishnan, Vimala
Shuib, Nor Liyana Mohd
author_facet Balakrishnan, Vimala
Shuib, Nor Liyana Mohd
author_sort Balakrishnan, Vimala
title Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
title_short Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
title_full Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
title_fullStr Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
title_full_unstemmed Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia
title_sort drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in malaysia
publisher Elsevier Sci Ltd
publishDate 2021
url http://eprints.um.edu.my/26926/
_version_ 1735409476793532416
score 13.211869

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