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Factors Affecting the Consumers' Adoption Intention of E-Wallet in Malaysia

In: Business and Management

Submitted By yongwei
Words 5991
Pages 24
Abstract

E-Wallet had been receiving enormous attention globally due to its high innovativeness as a secondary option to leather wallet. Usage of credit cards, cash or checks had been reduced due to the advancement of technology and emergence of e-Wallet. E-Wallet is an easy-to-use, convenient electronic prototype which acts as a secure global payment system by using only a mobile smartphone. This study is directed towards developing a model to explain the consumer's’ intention to adopt e-Wallet in the social context. It adopts Consumer Need for Uniqueness Theory based on the concept of Counter-Conformity Motivation (CCM) also known as Need For Uniqueness. Many researchers had explored the relationship of consumer’s intention to adopt on the technological usage context. However, little research in social context had been carried out. Therefore, this paper aims to examine the factors affecting the consumer adoption intention in social context. This paper found that CCM, self-identity and word-of-mouth (WOM) are the salient determinants in this study of knowledge of consumer adoption intention in e-Wallet.

Keywords: e-Wallet, intention to adopt, counter-conformity motivation, need for uniqueness
1.0 Introduction

According to the historical evidence, the first use of money is assumed to have started around 600 BC in term of coins (Davies and Davies, 2002). However, the world is evolving, due to the rapid change in technology. Most of the consumers have changed their ways of making bill payment. E-Wallet is the latest trend and phenomenon as the outcome of technology advancement (Patel,V, 2016).
Not only that, Doan, N (2014, p. 6) claims that Mobile Wallet can also be known as Digital Wallet when the smartphone can function as the leather wallet. Mobile wallet is simply defined as a payment solution for the consumers as they would be able to make…...

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