International Journal of Academic Research in Business and Social Sciences

Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Perceived Trust, Convenience and Promotion For the

Adoption of e-Wallet
Jiet Ping Kiew, Evelyn Ting Ling Toh, Ek Tee Ngian and Sally Hui Ching Law
To Link this Article: http://dx.doi.org/10.6007/IJARBSS/v12-i9/14591 DOI:10.6007/IJARBSS/v12-i9/14591

Received: 13 July 2022, Revised: 16 August 2022, Accepted: 28 August 2022

Published Online: 08 September 2022

In-Text Citation: (Kiew et al., 2022)

To Cite this Article: Kiew, J. P., Toh, E. T. L., Ngian, E. T., & Law, S. H. C. (2022). Perceived Trust, Convenience
and Promotion For the Adoption of e-Wallet. International Journal of Academic Research in Business and
Social Sciences, 12(9), 374 – 385.

Copyright: © 2022 The Author(s)

Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute,
translate and create derivative works of this article (for both commercial and non0-commercial purposes), subject to full
attribution to the original publication and authors. The full terms of this license may be seen
at: http://creativecommons.org/licences/by/4.0/legalcode

Vol. 12, No. 9, 2022, Pg. 374 – 385

http://hrmars.com/index.php/pages/detail/IJARBSS JOURNAL HOMEPAGE

Full Terms & Conditions of access and use can be found at

http://hrmars.com/index.php/pages/detail/publication-ethics

374
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Perceived Trust, Convenience and Promotion For

the Adoption of e-Wallet
Jiet Ping Kiew1,2, Evelyn Ting Ling Toh1,2, Ek Tee Ngian1,2 and
Sally Hui Ching Law1
1School
of Business and Management, University of Technology Sarawak,
96000 Sibu, Sarawak, Malaysia, 2Centre on Technological Readiness and Innovation in
Business Technopreneurship, University of Technology Sarawak, 96000 Sibu, Sarawak,
Malaysia.
Corresponding Author’s Email: [email protected]

Abstract
The outbreak of Covid-19 had accelerated cashless and contactless digital payment like e-
wallet. It was projected that the e-wallet market in Malaysia has the potential to grow to USD
20 billion by 2024. The Bank Negara Malaysia (BNM) had granted licence to 53 e-wallet
providers and the competition remains fierce. This study is conducted to investigate the
factors affecting the adoption of e-wallet by extending TAM model by perceived trust and
promotion. The target population was those aged between 18 to 50 and 249 valid responses
were collected by using purposive sampling technique. The demographic frequencies and
outlier analysis were assessed using the Statistical Package for the Social Sciences (SPSS) while
the measurement and structural models were examined using partial least squares-structural
equation modelling (PLS-SEM). The results show that perceived trust, convenience, and
promotion significantly affect the adoption of e-wallet. This study served as a guidance to the
e-wallet service providers to gain competitive advantage in competitive e-wallet industry in
terms of attracting new user and also retaining existing users.
Keywords: E-wallet, Adoption, Perceived Trust, Convenience, Promotion

Introduction
The increase in the usage of smartphone and internet had led to the development of e-wallet
payment method from paper money. E-wallet is an electronic payment tool allowing users to
transfer funds through the use of a mobile device (Undale et al., 2021). The outbreak of Covid-
19 resulted in the movement control order (MCO) since March 2020 in Malaysia had
encouraged the use of contactless payment to contain the spread of the Covid-19. Physical
cash payment method was deemed to be one of the medium spreading the virus when it is
touched by the infected person. E-wallet is useful in keeping track of every cent and ringgit
spent by the user as every spending is recorded and the users do not need to record their
spending manually (Mazlan, 2019). Malaysia had been leading the e-wallet usage in south
east Asia with 40% of e-wallet usage followed by Philippine, Thailand, and Singapore with
36%, 27%, and 26% respectively (Sticpay, 2021). The usage of e-wallet is encouraged by

375
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

offering cashback if the consumers make payment using e-wallet. Consumers love rewards,
getting gift or promotions in different ways no matter what is the consumers’ age (Jovenn et
al., 2019).
In Sarawak, S Pay Global which is Sarawak Government fintech platform is in line with
Sarawak government effort towards forming a digital government. S Pay Global which was
previously known as Sarawak Pay had changed its name in 2021 targeting not only Sarawak
market but also international market. In 2022, there was 590,290 S Pay users and 85,445
merchants recording transactions worth RM1.8billion since the establishment in 2017
(Bernama, 2022). It is also projected that e-walllet market in Malaysia has the potential to
grow to USD20billion by 2024 (Tan, 2018). Bank Negara Malaysia (BNM) had granted 47 non-
bank e-money issuers and 6 bank e-money issuers (BNM, 2022). With a total of 53 licenced e-
wallet providers, the competition remains fierce. With the potential e-wallet market
identified, it is vital for the providers to take up the opportunity before the opportunity is
taken up by their competitors. The factors driving the adoption of e-wallet are the keys for
the providers to gain competitive advantage in attracting potential customers.
The e-wallet adoption in Malaysia is still in the infancy stage although it has been used
for few years and the acceptance of this payment method remained low. The majority of
Malaysians has knowledge on the e-wallet but do not know the convenience brought by the
adoption of e-wallet in daily life. The major factors affecting the adoption of e-wallet in
Malaysia remained unclear (Adullah et al. 2020). This study aims to examine the effect of
perceived trust, convenience and promotion to the adoption of e-wallet. This study aims to
examine the effect of perceived trust, convenience and promotion to the adoption of e-
wallet. This study is conducted with the intention to achieve the following objectives:
• To investigate the effect of perceived trust on the adoption of e-wallet;
• To examine the impact of convenience on the adoption of e-wallet; and
• To study the role of promotion on the adoption of e-wallet.

Literature Review
Underpinning Theory
Technology acceptance model (TAM) developed by Davis in 1989 was widely applied in
acceptance and adoption of technology. TAM model focused on two main factors, perceived
ease of use and perceived usefulness. Perceived ease of use referred to how much the users
believe that by using the system could save time and effort (Davis, 1989). In another word,
the easiness in using the system is more likely to be accepted by the users. Perceived
usefulness referred to the users believe that using the system helps increasing their
performance and resolving their task quicker (Davis, 1989). Therefore, it is more likely for the
users to accept the system if they had experienced the convenience that was brought by the
technology. This study extended the TAM model with perceived trust variable and promotion
variable.

Hypotheses Development
Perceived Trust
Perceived trust is defined as the readiness of a party to entrust the activities of other parties
with the belief that the other party will perform certain actions which are essential to the
trustor, despite the ability of the trustor to monitor or control the other parties (Mayer et al.,
1995). For technology adoption, trust is one of the factors affecting the intention to use
(Chatterjee & Bolar, 2018). For online transactions, trust can be explained as the customer’s

376
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

belief in service provider that their money and personal information will not be stolen, and
despite the imperfection of the system, the customer interest will be considered by all
relevant parties (Abrazhevich, 2001). In some previous studies, trust had been proven as an
important factor affecting the adoption of online payment technologies (Chatterjee & Bolar,
2018; Sharma et al., 2018). Trust has significant positive relationship towards the use of e-
wallet (Armanditya & Rahmiati, 2020; Ridaryanto et al., 2020). Sharma et al (2018) found low
level of trust will obstruct the technology adoption among mobile banking while Kumar et al
(2018) showed positive effect of trust on the e-wallet adoption in developing countries.
Therefore, the following hypothesis is formed to be examined in this study.

H1: Perceived trust is positively related to the adoption of e-wallet.

Convenience
Convenience is defined as comfort and ease of use of e-wallets by attaining advantages
through the usage driven by immediate accessibility and portability (Sharma & Gutiérrez,
2010). Convenience has been recognised as one of the advantages of e-wallet and it is one of
the factors contributed to the success of mobile payment system (Xu & Gutierrez, 2006).
Users who perceived the technology’s ease of use and the usefulness will embrace and
employ the system as they have experienced the convenience brought by the technology
(Satyagraha, 2021). Wardana et al (2022) found positive significant effect of convenient on
the intention to use e-wallet. Khiong et al (2022) concluded the perceived convenience has
effect on the attitude in e-wallet usage. There are several studies show positive effect of
convenience towards technology use (Lee et al., 2022; Ramli & Hamzah, 2021). However,
there is also inconsistent finding where Satyagraha (2021) found no significant effect of
convenience-use of Millennials’ intention to use e-wallets. Hypothesis shown below is
developed to be investigated in this study.

H2: Convenience is positively related to the adoption of e-wallet.

Promotion
Promotion is one of the marketing strategy being used to create awareness and interest on
the products or services (Dubey, 2014). Promotion could be referred to as incentives used by
sellers to attract buyers and can be in the form of coupons, vouchers, and cashbacks (Chitty
et al., 2018). Product attractiveness could be enhanced through promotions which will
positively affect consumer behaviour (Yeshin, 2006). The objectives of having promotion are
for the company to communicate the information to the public either new business, existing
market, new product, or existing products. It also aims to re-inform the public offering
memorising to prevent forgetfulness. Moreover, it also create the awareness of the need and
arousing public curiosity (Gherasim et al., 2012). Several studies found positive effect of
promotion on the adoption of e-wallet (Satyagraha, 2021; Acelian & Basri, 2021; Ridaryanto
et al., 2020). The hypothesis below is therefore being developed in this study.

H3: Promotion is positively related to the adoption of e-wallet.

The conceptual framework developed by the researcher for this study includes three
independent variables which are perceived trust, convenience, and promotion and the
dependent variable is the adoption of e-wallet as shown in Figure 1.

377
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Perceived Trust

Convenience The adoption of e-wallet

Promotion

Figure 1: Conceptual Framework

Research Methodology
For this study, quantitative approach is used to determine the factors affecting the adoption
of e-wallet. The target population are those aged between 18 to 50 in Sibu. According to the
CEO of TNG Digital Sdn Bhd, Syahrunizam Samsudin, those aged between 18 to 25 averagely
have five e-wallets to maximise the benefit while those aged above 35 tends to focus on one
to two e-wallets which perceived to be more convenient (TheStar, 2019). Also, Oppotus
reported the e-wallet usage among generations with Baby Boomers 43% with an increasing
trend along with the younger generation with Generation Z 71% which means starting from
Baby Boomers almost half of them are using e-wallets (Sticpay, 2021). Closed ended
questionnaire is divided into Section A and Section B where Section A consists of eight
respondent profile questions about their background and their e-wallet usage. Section B
consists of thirteen items where each of the independent variables have three items while
the dependent variable has four items with all using five-point Likert scale. Google Form is
used to collect data from the target population adopting purposive sampling technique as it
is a convenient approach with no cost. Among the 250 responses received, 249 are valid
responses and it is sufficient for this study as it is within the range of 30 to 500 as suggested
by (Roscoe, 1975).

Findings
The data in this study were analysed using two types of statistical software. Firstly,
demographic frequencies and outlier analysis were assessed using the Statistical Package for
the Social Sciences (SPSS) version 26. Further, the measurement and structural models were
examined using partial least squares-structural equation modelling (PLS-SEM) with SmartPLS
version 3 (Ringle et al., 2015; Sarstedt & Cheah, 2019). The assessment of the measurement
model evaluates the validity and reliability of the measuring components. The assessment of
the structural model evaluates the proposed relationships between the measurable
constructs.
This study performed multivariate outlier analysis to screen the data before the
statistical analysis. The Mahalanobis distance was calculated using linear regression methods
in SPSS. Based on the finding, items with a probability chi-square value of less than .001 was
removed (Kline, 2011). A total of 250 questionnaires were distributed to target respondents.
Out of 250 testable samples retrieved, one sample was removed as an outlier. Consequently,
249 were retained from hypotheses testing, which yielded a response rate of 99.60%. Table
1 displays the characteristics of the 249 respondents in the survey. The results showed that
most of the respondents were male (79.80%), most of them aged between 21 to 25 years old
(22.50%), Chinese (35.70%), bachelor’s degree holders (49.40%), working as an employee

378
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

(50.20%), earned a monthly income between RM 1,100 to RM 3,000 (63.90%). Besides, Table
1 shows that most respondents were adopted to an e-wallet (96.00%), and most of them used
e-wallet for one to four times (32.90%) in a day.

Table 1
Demographic Profile of Respondents
Respondent (N=249)
Demographic Category Frequency Per cent (%)
Variable
Gender Male 121 79.80
Female 128 20.20
Age Category Less than 21 years old 33 13.30
21 to 25 years old 56 22.50
26 to 30 years old 37 14.90
31 to 35 years old 45 18.10
36 to 40 years old 41 16.50
More than 40 years old 37 14.90
Race Chinese 89 35.70
Malay 66 26.50
Iban 49 19.70
Other 45 18.10
Educational Level Penilaian Menengah Rendah 3 1.20
Sijil Pelajaran Malaysia 34 13.70
Sijil Tinggi Persekolahan Malaysia 24 9.60
Diploma 38 15.30
Bachelor's Degree 123 49.40
Master's Degree 27 10.80
Occupation Student 74 29.70
Self-employed 35 14.10
Employee 125 50.20
Housewife 10 4.00
Others 5 2.00
Monthly Income RM1100-RM3000 159 63.90
Level RM3001-RM6000 52 20.90
RM6001-RM13000 22 8.80
RM13001 and above 16 6.40
Usage of e-Wallet Users 239 96.00
Non-User 10 4.00
Frequency None 12 4.80
1-4 times 82 32.90
5-8 times 57 22.90
9-12 times 50 20.10
Over 12 times 48 19.30
Source: Own developed for the research used

379
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Assessment of the Measurement Model

Table 2 exhibits the reflective measurements’ assessment regarding their reliability and
convergent validity. Regarding the outer loading, all items met the recommended outer
loading criterion (i.e., between 0.721 and 0.941) (Hair et al., 2019). Composite Reliability (CR)
is used to measure the internal consistency of the data, and Average Variance Extracted (AVE)
is used to measure the convergent validity of the data. Table 2 demonstrates all CR values
above the critical value of 0.700; thus, all the measurements were internally consistent (Hair
et al., 2019). The results listed in Table 2 show that the AVE of each model construct surpassed
the acceptable level of 0.500 (Hair et al., 2019), establishing their convergent validity. In
addition, discriminant validity using the Heterotrait-Monotrait ratio of correlations (HTMT).
All the HTMT values were lower than the conservative threshold value of 0.850 (Henseler et
al., 2015) (see Table 3). Thus, it can be concluded that discriminant validity was established
between all the constructs.

Table 2
Results of Measurement Model
Measurement Cronbach' Factor Composit Average
Items s Alpha Loadings e Variance
Reliabilit Extracted
y (AVE)
Adoption of e- Adoption1 0.773 0.768 0.854 0.595
Wallets Adoption2 0.813
Adoption3 0.781
Adoption4 0.721
Perceived Trust PTrust1 0.927 0.940 0.954 0.873
PTrust2 0.941
PTrust3 0.922
Convenience Convenience1 0.840 0.888 0.903 0.757
Convenience2 0.852
Convenience3 0.870
Promotion Promotion1 0.784 0.813 0.874 0.697
Promotion2 0.859
Promotion3 0.833
Note: a. Bold values are loadings for items that are above the recommended value 0.708.
b. Composite Reliability (CR) = (square of the summation of the factor loadings)/ {(square of
the summation of the factor loadings) + (square of the summation of the error variances)}
c. Average Variance Extracted (AVE) = (summation of the square of the factor loadings)/
{(summation of the square of the factor loadings) + (summation of the error variances)}

380
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Table 3
HTMT Criterion for Discriminant Validity of Constructs
Adoption of e- Convenienc Perceived Promotio
Wallet e Trust n
Adoption of e-
Wallet
Convenience 0.666
Perceived Trust 0.559 0.497
Promotion 0.754 0.661 0.438
Note: HTMT < 0.850 (Kline, 2011), HTMT < 0.900 (Gold, Malhotra, & Segars, 2001)

Assessment of Structural Model

The assessment of the structural model started by evaluating the collinearity between the
predictors. Table 4 exhibits that the variance inflator factor (VIF) values of all constructs
ranged from 1.282 to 1.551 were below the threshold of 3.33 (Becker, Ringle, Sarstedt, &
Volckner, 2015). Hence, collinearity between the predictors was not an issue in this dataset.
As shown in Figure 2 and Table 4, perceived trust (β = 0.232; t = 4.155), convenience (β =
0.235; t = 3.549) and promotion (β = 0.382; t = 7.140) have a positive and significant effects
on the adoption of e-wallet. Thus, H1, H2, and H3 are supported. This study calculated the R2
to assess the model's in-sample fit. The R2 value of the adoption of e-wallet was 0.467. Finally,
the predictive relevance of the model was evaluated using the blindfolding procedure
(Shmueli et al., 2019). The Q2 value for e-wallet adoption was 0.267, greater than zero,
verifying the model's predictive relevance.

Figure 2: Results of the Path Analysis

381
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Table 4
Path Coefficient and Hypothesis Testing
Varianc
e
Hypothes Coefficie t-
Relationship Inflator Decision
is nt value
Factor
(VIF)
Perceived Trust -> Adoption of e- Supporte
H1 0.232 1.282 4.155
Wallets d
Convenience -> Adoption of e- Supporte
H2 0.235 1.551 3.549
Wallets d
Supporte
H3 Promotion -> Adoption of e-Wallets 0.382 1.461 7.140
d
Note: t >1.645*; p <0.05 or t >2.33**; p <0.01

Discussion and Conclusion

The objective of this study is to identify the factors affecting the adoption of e-wallet. Three
factors were proposed to understand better the adoption of e-wallet. Online survey were
conducted and 249 valid responses were retained. The results show that all factors play
significant role in the adoption of e-wallets.
In this study, perceived trust is referred to the safety and reliability of e-wallet usage. It
is found that perceived trust does have significant impact on the adoption of e-wallet. For the
users to deposit money into the system, perceived trust is essential whereby the users
believed that the safety of the e-wallet is sufficient and their money is safe. When the integrity
of the service provider is perceived to be sufficient, user’s trust will be developed (Satyagraha,
2021). Perceived trust is also important for the users to reduce their concern on the cyber
risk. The finding is in line with the findings of (Satyagraha, 2021; Armanditya & Rahmiati, 2020;
Ridaryanto et al., 2020).
As consistent with Wardana et al (2022); Khiong et al (2022), convenience significantly
affect the adoption of e-wallet. The covid-19 pandemic had accelerated the adoption of e-
wallet to prevent the spread of the virus by making contactless payment. The users had
experienced the convenience brought by the e-wallet whereby they do not have to go to the
ATM machine every time they are running out of cash. It is convenient where the users can
reload money into the e-wallet anyway and anytime as long as they can online. Moreover, by
using e-wallet, there is no need for the user to look for cash change from the merchants as
the user will be paying the exact amount needed. Transactions can be carried out without
bringing purse but with just a mobile phone.
Promotion is also proved to have significant impact on the adoption of e-wallet which
means that the better the promotion will increase the adoption of e-wallet. This result is in
line with the previous findings (Satyagraha, 2021; Acelian & Basri, 2021; Ridaryanto et al.,
2020). Coupons, discounts, and cashbacks are attractive for the users in adopting e-wallet as
these could help the users to spend lesser. Attractive promotions are essential in attracting
new customer and retaining existing customer (Sunny & George, 2018).
This study proved the convenience factor of the TAM played significant role in the
adoption of e-wallet. In addition, perceived trust and promotion are also strong factors
affecting the adoption of e-wallet. As the digital payment market is growing fast, the industry

382
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

remain competitive. This study can be served as a guidance for the service provider for them
to gain competitive advantage.

Recommendation
According to the results, there are some recommendations for future study to provide more
comprehensive view in terms of the adoption of e-wallet. First, this study assumes all the
respondents have the same perception. Therefore, future research could be conducted by
comparing sub group such as existing users and non-users. This will be beneficial for the e-
wallet provider to take into account the views of existing users and also the non-users for a
more comprehensive consideration. Second, this study is conducted on e-wallet services in
common. It would be beneficial if future study can be conducted on specific e-wallet service
provider and comparison can be made between different e-wallet service providers.

References
Abdullah, N., Redzuan, F., & Daud, N. A. (2020). E-wallet: factors influencing user acceptance
toward cashless society in Malaysia among public universities. Indonesian Journal of
Electrical Engineering and Computer Science, 20(1), 67-74.
Abrazhevich D. (2001) Classification and Characteristics of Electronic Payment Systems. In:
Bauknecht, K., Madria, S.K., Pernul, G. (eds) Electronic Commerce and Web
Technologies. EC-Web 2001. Lecture Notes in Computer Science, 2115. Springer, Berlin,
Heidelberg.
Armanditya, N., & Rahmiati, F. (2020). Use intention of fintech services for e-wallet users: an
examination with an extended technology acceptance model. Proceeding of the 4th
International Conference on Family Business and Entrepreneurship (ICFBE). 70-81.
Bank Negara Malaysia [BNM]. (2022). Payment systems. https://www.bnm.gov.my/list-of-
regulatees
Becker, J., Ringle, C., Sarstedt, M., & Volckner, F. (2015). How collinearity affects mixture
regression results. Marketing Letters, 26(4), 643-659.
Bernama. (2022). Sarawak’s app, S Pay Global records RM1.8b transactions. Daily Express.
https://www.dailyexpress.com.my/news/184798/sarawak-s-app-s-pay-global-records-
rm1-8b-
transactions/#:~:text=KUCHING%3A%20Sarawak%20state%20government's%20fintec
h,since%20its%20establishment%20in%202017.
Chatterjee, D., & Bolar, K. (2018). Determinants of Mobile Wallet Intentions to Use: The
Mental Cost Perspective. International Journal of Human-Computer Interaction, 35(10),
859-869.
Chitty, B., Luck, E., Barker, N., Sassenberg, A., Shimp, T., & Andrews, J. (2018). Integrated
marketing communications: direct marketing and sales promotion. 5th Asia-Pacific
Edition, Australia: Cengage Learning Australia Pty Limited.
Dubey, J. (2014). Personal care products: Sales promotion and brand loyalty. Journal Of
Contemporary Management Research, 8(1), 52-71.
Gherasim, A., Gherasim, D., & Vasiloaia, M. (2012). Communication in marketing promotion.
Economy Transdisciplinarity Cognition, 15 (1), 293-299.
Gold, A. H., Malhotra, A., & Segars, A. H. (2001). Knowledge management: An organisational
capabilities perspective. Journal of Management, 18(1), 185-214.
Hair, J., Risher, J., Sarstedt, M., & Ringle, C. (2019). When to use and how to report the results
of PLS-SEM. European Business Review, 31(1), 2-24.

383
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Henseler, J., Ringle, C., & Sarstedt, M. (2015). A new criterion for assessing discriminant
validity in variance-based structural equation modeling. Journal of the Academy of
Marketing Science, 43(1), 115-135.
Jovenn, C., Subaramaniam, K., & Jalil, A. Bin. (2019). The Development of a Forum Mobile
Application for Students. In the Proceedings of IEEE International Conference on System
Engineering and Technology 2019, 90-95.
Khiong, K., Arijanto, R., Dewi, G. C., Mulyandi, M. R., Putra, R. S., Siagian, A. O., Wijoyo, H.,
Purwanto, A., & Fahmi, K. (2022). The role of compatibility, perceived usefulness,
convenience perception and convenience percetion on electronic money (e-wallet)
usage interest. Journal of Positive School Psychology, 6(5), 6281-6286.
Kline, R. (2011). Principles and practice of structural equation modeling (3rd ed.). New York:
Guilford Press.
Kumar, A., Adlakaha, A., & Mukherjee, K. (2018). The Effect of Perceived Security and
Grievance Redressal on Continuance Intention to Use M-Wallet in A Developing
Country. International Journal of Bank Marketing.
Lee, Y. Y., Gan, C. L., & Liew, T. W. (2022). Do E-wallets trigger impulse purchases?
An analysis of Malaysian Gen-Y and Gen-Z consumers. Journal of Marketing
Analytics, 1-18.
Mayer, R. C., Davis, J. H., and Schoorman, F. D. (1995). An integrative model of organizational
trust. Academy of Management Review, 20(3), 709-734.
Mazlan, M. (2019). Save Money With e-Wallets in This Cashless Society? Here’s How.
EduAdvisor. https://eduadvisor.my/articles/save-money-with-e-wallets/
Oppotus. (2019). E-Wallets in Malaysia: Landscape at the end of 2019. Retrieved on 6 June
2021. https://www.oppotus.com/e-wallets-malaysia-landscape-end- 2019/
Ramli, F. A. A., & Hamzah, M. I. (2021). Mobile payment and e-wallet adoption in
emerging economies: A systematic literature review. Journal of Emerging
Economies and Islamic Research, 9(2), 1-39.
Rapyd. (2018). Understanding eWallets: Demographic Adoption Factors.
https://medium.com/rapyd/understanding-ewallets-demographic- adoption-factors-
b85fd167c40e
Ridaryanto, Firmansyah, R. K., Kartono, R., & Sundjaja, A. M. (2020). Factors affecting the use
of E-Wallet in Jabodetabek Area. International Journal of Advanced Trends in Computer
Science and Engineering, 9(2), 1005-1012.
Ringle, C., Wendy, S., & Becker, J. (2015). SmartPLS 3. Boenningstedt: SmartPLSGmbH.
Roscoe, J. (1975). Fundamental Research Statistics for the Behavioral Sciences. International
Series in Decision Process, 2nd Edition, Holt, Rinehart and Winston, Inc., New York.
Sarstedt, M., & Cheah, J. (2019). Partial least squares structural equation model using
SmartPLS: A software review. Journal of Marketing Analytics, 7, 196-202.
Satyagraha, B. (2021). The effect of convenience-use, sales promotion, and consumer trust
on millennials continuous intention in using Gopay during covid-19 in Jakarta. Jurnal
Ilmiah Mahasiswa Feb Universitas Brawijaya, 9(2), 1-16.
Sharma, S., & Gutierrez, J. A. (2010). An evaluation framework for viable business models for
m-commerce in the information technology sector. Electronic Markets, 20(1), 33–52.
Sharma, S. K., Mangla, S. K., Luthra, S., & Al-Salti, Z. (2018). Mobile Wallet Inhibitors:
Developing A Comprehensive Theory Using an Integrated Model. Journal of Retailing
and Consumer Services, 45, 52-63.

384
International Journal of Academic Research in Business and Social Sciences
Vol. 1 2 , No. 9, 2022, E-ISSN: 2 2 2 2 -6990 © 2022 HRMARS

Shmueli, G., Sarstedt, M., Hair, J., Cheah, J., Ting, H., Vaithilingam, S., & Ringle, C. (2019).
Predictive model assessment in PLS-SEM: guidelines for using PLSpredict. European
Journal of Marketing, 53(11), 2322-2347.
Sticpay. (2021). Biggest E-Wallet Trends in Malaysia.
https://www.sticpay.com/news/news_detail/ewallet-trends-malaysia
Tan, Y. (2018). Banking on the e-wallet in Malaysia. PWC Malaysia.
https://www.pwc.com/my/en/perspective/deal-strategy/181003-banking-on-the-e-
wallet-in-
malaysia.html#:~:text=Large%20market%20potential,growth%20dynamics%20and%2
0market%20potential.
TheStar. (2019). CEO: Educate consumers on best e-wallet services.
https://www.thestar.com.my/news/nation/2019/07/06/ceo-educate-consumers-on-
best-ewallet-services/
Undale, S., Kulkarni, A., & Patil, H. (2021). Perceived e-wallet security: impact of COVID-19
pandemic. Vilakshan - XIMB Journal of Management, 18(1), 89-104.
Wardana, A. A., Saputra, E. P., Wahyuddin, M., & Abas, N. I. (2022). The effect of convenience,
perceived ease of use, and perceived usefulness on intention to use e-wallet: empirical
study on Generation Z in Surakarta. Proceedings of the International Conference on
Economics and Business Studies, 655, 386-395.
Xu, G., & Gutierrez, J. A. (2006). An Exploratory Study of Killer Applications and Critical Success
Factors in M-Commerce. Journal of Electronic Commerce in Organizations (JECO), 4(4),
63-79.
Yeshin, T. (2006). Sales Promotion. London: Thomson Learning.

385