IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i7p5752-d1107227.html
   My bibliography  Save this article

Factors Determining the Acceptance of E-Wallet among Gen Z from the Lens of the Extended Technology Acceptance Model

Author

Listed:
  • Mohd Shafie Rosli

    (School of Education, Faculty of Social Sciences and Humanities, Universiti Teknologi Malaysia, Johor Bahru 81310, Malaysia)

  • Nor Shela Saleh

    (Department of Social Science, Centre for General Studies and Co-Curricular, Universiti Tun Hussein Onn Malaysia, Batu Pahat 86400, Malaysia)

  • Azlah Md. Ali

    (School of Human Resource Development and Psychology, Faculty of Social Sciences and Humanities, Universiti Teknologi Malaysia, Johor Bahru 81310, Malaysia)

  • Suaibah Abu Bakar

    (School of Human Resource Development and Psychology, Faculty of Social Sciences and Humanities, Universiti Teknologi Malaysia, Johor Bahru 81310, Malaysia)

Abstract

E-wallets are one of the breakthroughs brought forth by the evolution of FinTech, which has been accentuated by the global outbreak of COVID-19. Therefore, it is critical to comprehend the factor of e-wallet acceptance. As this technology advances, substantial knowledge and research gaps become apparent. Previous studies on e-wallet acceptance have overlooked the importance of motivation and self-efficacy. There is a dearth of focus on certain age groups, such as Gen Z, which is currently the trendsetter of new technologies. This study aims to close the gaps regarding the lack of focus toward Gen Z, motivation, and self-efficacy in understanding e-wallet acceptance by combining the Technology Acceptance Model (TAM) with Self-Determination Theory (SDT), Self-Efficacy (SE), and Digital Media Self-Efficacy (DMSE) to fully understand the factors influencing e-wallet acceptance among Gen Z, using 233 samples to test 16 hypotheses derived from the identified research and knowledge gaps. External Regulation (ER), SE, and DMSE are the determinants of acceptance, according to Structural Equation Model analysis conducted. Mediation analysis reveals that Attitude toward Use (AT) is the full mediator of Perceived Usefulness (PU) and Perceived Ease of Use (PEU). The quintessential outcome of this research is the Model of E-Wallet Acceptance among Gen Z, which is significant for FinTech industries looking to strategically roll out e-wallet initiatives as well as a point of exploration for numerous future academic research and development.

Suggested Citation

  • Mohd Shafie Rosli & Nor Shela Saleh & Azlah Md. Ali & Suaibah Abu Bakar, 2023. "Factors Determining the Acceptance of E-Wallet among Gen Z from the Lens of the Extended Technology Acceptance Model," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:7:p:5752-:d:1107227
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/7/5752/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/7/5752/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Cuiyan Wang & Riyu Pan & Xiaoyang Wan & Yilin Tan & Linkang Xu & Cyrus S. Ho & Roger C. Ho, 2020. "Immediate Psychological Responses and Associated Factors during the Initial Stage of the 2019 Coronavirus Disease (COVID-19) Epidemic among the General Population in China," IJERPH, MDPI, vol. 17(5), pages 1-25, March.
    2. Andrews A. Yalley, 2022. "Customer readiness to co-production of mobile banking services: a customer-only co-production perspective," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(2), pages 81-95, June.
    3. Marvello Yang & Abdullah Al Mamun & Muhammad Mohiuddin & Noorshella Che Nawi & Noor Raihani Zainol, 2021. "Cashless Transactions: A Study on Intention and Adoption of e-Wallets," Sustainability, MDPI, vol. 13(2), pages 1-18, January.
    4. Ahmad Ghandour & Hussein Al-Srehan & Alhanof Almutairi, 2023. "Analysis of Demand and Supply for Mobile Payments in the UAE during COVID-19," JRFM, MDPI, vol. 16(2), pages 1-11, January.
    5. Md. Sharif Hassan & Md. Aminul Islam & Farid Ahammad Sobhani & Md. Maruf Hassan & Md. Arif Hassan, 2022. "Patients’ Intention to Adopt Fintech Services: A Study on Bangladesh Healthcare Sector," IJERPH, MDPI, vol. 19(22), pages 1-15, November.
    6. Kamal, Syeda Ayesha & Shafiq, Muhammad & Kakria, Priyanka, 2020. "Investigating acceptance of telemedicine services through an extended technology acceptance model (TAM)," Technology in Society, Elsevier, vol. 60(C).
    7. Ion Ovidiu Panisoara & Iulia Lazar & Georgeta Panisoara & Ruxandra Chirca & Anca Simona Ursu, 2020. "Motivation and Continuance Intention towards Online Instruction among Teachers during the COVID-19 Pandemic: The Mediating Effect of Burnout and Technostress," IJERPH, MDPI, vol. 17(21), pages 1-28, October.
    8. Vikas Chauhan & Rambalak Yadav & Vipin Choudhary, 2022. "Adoption of electronic banking services in India: an extension of UTAUT2 model," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(1), pages 27-40, March.
    9. Nicolas Mascret & Jean-Jacques Temprado, 2023. "Acceptance of a Mobile Telepresence Robot, before Use, to Remotely Supervise Older Adults’ Adapted Physical Activity," IJERPH, MDPI, vol. 20(4), pages 1-11, February.
    10. Fuzhong Chen & Guohai Jiang, 2022. "The Roles of FinTech with Perceived Mediators in Consumer Financial Satisfaction with Cashless Payments," Mathematics, MDPI, vol. 10(19), pages 1-21, September.
    11. Arfan Shahzad & Nurhana Zahrullail & Ahsan Akbar & Hana Mohelska & Arsalan Hussain, 2022. "COVID-19’s Impact on Fintech Adoption: Behavioral Intention to Use the Financial Portal," JRFM, MDPI, vol. 15(10), pages 1-18, September.
    12. You-Kyung Lee, 2021. "Impacts of Digital Technostress and Digital Technology Self-Efficacy on Fintech Usage Intention of Chinese Gen Z Consumers," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    13. Chueh, Hao-En & Huang, Duen-Huang, 2023. "Usage intention model of digital assessment systems," Journal of Business Research, Elsevier, vol. 156(C).
    14. Abbasi, Ghazanfar Ali & Sandran, Thiviya & Ganesan, Yuvaraj & Iranmanesh, Mohammad, 2022. "Go cashless! Determinants of continuance intention to use E-wallet apps: A hybrid approach using PLS-SEM and fsQCA," Technology in Society, Elsevier, vol. 68(C).
    15. Jeremy Srouji & Dominique Torre, 2022. "The Global Pandemic, Laboratory of the Cashless Economy?," IJFS, MDPI, vol. 10(4), pages 1-13, November.
    16. Adi Alsyouf & Ra’ed Masa’deh & Moteb Albugami & Mohammad Al-Bsheish & Abdalwali Lutfi & Nizar Alsubahi, 2021. "Risk of Fear and Anxiety in Utilising Health App Surveillance Due to COVID-19: Gender Differences Analysis," Risks, MDPI, vol. 9(10), pages 1-19, October.
    17. Egemen Hopalı & Özalp Vayvay & Zeynep Tuğçe Kalender & Deniz Turhan & Ceyda Aysuna, 2022. "How Do Mobile Wallets Improve Sustainability in Payment Services? A Comprehensive Literature Review," Sustainability, MDPI, vol. 14(24), pages 1-30, December.
    18. Sílvia Lopes & Ana Sabino & Paulo C. Dias & Anabela Rodrigues & Maria José Chambel & Francisco Cesário, 2022. "Through the Lens of Workers’ Motivation: Does It Relate to Work–Family Relationship Perceptions?," Sustainability, MDPI, vol. 14(23), pages 1-20, December.
    19. Haruthai Kasemharuethaisuk & Taweesak Samanchuen, 2023. "Factors Influencing Behavior Intention in Digital Investment Services of Mutual Fund Distributors Adoption in Thailand," Sustainability, MDPI, vol. 15(3), pages 1-21, January.
    20. Nurul-Ain Abdul-Halim & Ali Vafaei-Zadeh & Haniruzila Hanifah & Ai Ping Teoh & Khaled Nawaser, 2022. "Understanding the determinants of e-wallet continuance usage intention in Malaysia," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(5), pages 3413-3439, October.
    21. Siti Aisah Bohari & Ruzita Abdul-Rahim & Aini Aman, 2022. "Role of comparative economic benefits on intention to use e-wallet: the case in Malaysia," International Journal of Electronic Finance, Inderscience Enterprises Ltd, vol. 11(4), pages 364-382.
    22. Adi Alsyouf & Abdalwali Lutfi & Mohammad Al-Bsheish & Mu’taman Jarrar & Khalid Al-Mugheed & Mohammed Amin Almaiah & Fahad Nasser Alhazmi & Ra’ed Masa’deh & Rami J. Anshasi & Abdallah Ashour, 2022. "Exposure Detection Applications Acceptance: The Case of COVID-19," IJERPH, MDPI, vol. 19(12), pages 1-26, June.
    23. Daniel Y. Park & Hyungsook Kim, 2023. "Determinants of Intentions to Use Digital Mental Healthcare Content among University Students, Faculty, and Staff: Motivation, Perceived Usefulness, Perceived Ease of Use, and Parasocial Interaction w," Sustainability, MDPI, vol. 15(1), pages 1-17, January.
    24. Asif Mahmood & Muhammad Imran & Kamran Adil, 2023. "Modeling Individual Beliefs to Transfigure Technology Readiness into Technology Acceptance in Financial Institutions," SAGE Open, , vol. 13(1), pages 21582440221, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Egemen Hopalı & Özalp Vayvay & Zeynep Tuğçe Kalender & Deniz Turhan & Ceyda Aysuna, 2022. "How Do Mobile Wallets Improve Sustainability in Payment Services? A Comprehensive Literature Review," Sustainability, MDPI, vol. 14(24), pages 1-30, December.
    2. Alrawad, Mahmaod & Lutfi, Abdalwali & Alyatama, Sundus & Al Khattab, Adel & Alsoboa, Sliman S. & Almaiah, Mohammed Amin & Ramadan, Mujtaba Hashim & Arafa, Hussin Mostafa & Ahmed, Nazar Ali & Alsyouf, , 2023. "Assessing customers perception of online shopping risks: A structural equation modeling–based multigroup analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).
    3. Wenxiang Zhang & Saeed Siyal & Samina Riaz & Riaz Ahmad & Mohd Faiz Hilmi & Zhi Li, 2023. "Data Security, Customer Trust and Intention for Adoption of Fintech Services: An Empirical Analysis From Commercial Bank Users in Pakistan," SAGE Open, , vol. 13(3), pages 21582440231, July.
    4. Adi Alsyouf & Awanis Ku Ishak & Abdalwali Lutfi & Fahad Nasser Alhazmi & Manaf Al-Okaily, 2022. "The Role of Personality and Top Management Support in Continuance Intention to Use Electronic Health Record Systems among Nurses," IJERPH, MDPI, vol. 19(17), pages 1-30, September.
    5. Abdalwali Lutfi & Saleh Nafeth Alkelani & Malak Akif Al-Khasawneh & Ahmad Farhan Alshira’h & Malek Hamed Alshirah & Mohammed Amin Almaiah & Mahmaod Alrawad & Adi Alsyouf & Mohamed Saad & Nahla Ibrahim, 2022. "Influence of Digital Accounting System Usage on SMEs Performance: The Moderating Effect of COVID-19," Sustainability, MDPI, vol. 14(22), pages 1-23, November.
    6. Lutfi, Abdalwali & Alrawad, Mahmaod & Alsyouf, Adi & Almaiah, Mohammed Amin & Al-Khasawneh, Ahmad & Al-Khasawneh, Akif Lutfi & Alshira'h, Ahmad Farhan & Alshirah, Malek Hamed & Saad, Mohamed & Ibrahim, 2023. "Drivers and impact of big data analytic adoption in the retail industry: A quantitative investigation applying structural equation modeling," Journal of Retailing and Consumer Services, Elsevier, vol. 70(C).
    7. Adi Alsyouf & Abdalwali Lutfi & Mohammad Al-Bsheish & Mu’taman Jarrar & Khalid Al-Mugheed & Mohammed Amin Almaiah & Fahad Nasser Alhazmi & Ra’ed Masa’deh & Rami J. Anshasi & Abdallah Ashour, 2022. "Exposure Detection Applications Acceptance: The Case of COVID-19," IJERPH, MDPI, vol. 19(12), pages 1-26, June.
    8. Adi Alsyouf & Abdalwali Lutfi & Nizar Alsubahi & Fahad Nasser Alhazmi & Khalid Al-Mugheed & Rami J. Anshasi & Nora Ibrahim Alharbi & Moteb Albugami, 2023. "The Use of a Technology Acceptance Model (TAM) to Predict Patients’ Usage of a Personal Health Record System: The Role of Security, Privacy, and Usability," IJERPH, MDPI, vol. 20(2), pages 1-24, January.
    9. Talwar, Shalini & Kaur, Puneet & Escobar, Octavio & Lan, Sai, 2022. "Virtual reality tourism to satisfy wanderlust without wandering: An unconventional innovation to promote sustainability," Journal of Business Research, Elsevier, vol. 152(C), pages 128-143.
    10. Rocío Lavigne-Cervan & Borja Costa-López & Rocío Juárez-Ruiz de Mier & Marta Sánchez-Muñoz de León & Marta Real-Fernández & Ignasi Navarro-Soria, 2021. "Implications of the Online Teaching Model Derived from the COVID-19 Lockdown Situation for Anxiety and Executive Functioning in Spanish Children and Adolescents," IJERPH, MDPI, vol. 18(19), pages 1-15, October.
    11. Michael Addotey-Delove & Richard E. Scott & Maurice Mars, 2023. "Healthcare Workers’ Perspectives of mHealth Adoption Factors in the Developing World: Scoping Review," IJERPH, MDPI, vol. 20(2), pages 1-27, January.
    12. Fei Qin & Yiqing Song & George P Nassis & Lina Zhao & Yanan Dong & Cuicui Zhao & Yiwei Feng & Jiexiu Zhao, 2020. "Physical Activity, Screen Time, and Emotional Well-Being during the 2019 Novel Coronavirus Outbreak in China," IJERPH, MDPI, vol. 17(14), pages 1-16, July.
    13. Subhodeep Mukherjee & Manish Mohan Baral & Chittipaka Venkataiah & Surya Kant Pal & Ramji Nagariya, 2021. "Service robots are an option for contactless services due to the COVID-19 pandemic in the hotels," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 48(4), pages 445-460, December.
    14. Mahsa Samsami & Ralf Wagner, 2021. "Investment Decisions with Endogeneity: A Dirichlet Tree Analysis," JRFM, MDPI, vol. 14(7), pages 1-19, July.
    15. Na-Hye Kim & Jung-Min Lee & Eunhye Yoo, 2022. "How the COVID-19 Pandemic Has Changed Adolescent Health: Physical Activity, Sleep, Obesity, and Mental Health," IJERPH, MDPI, vol. 19(15), pages 1-12, July.
    16. Cannavacciuolo, Lorella & Capaldo, Guido & Ponsiglione, Cristina, 2023. "Digital innovation and organizational changes in the healthcare sector: Multiple case studies of telemedicine project implementation," Technovation, Elsevier, vol. 120(C).
    17. Xinqiao Liu & Yifan Zhang & Wenjuan Gao & Xiaojie Cao, 2023. "Developmental trajectories of depression, anxiety, and stress among college students: a piecewise growth mixture model analysis," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    18. Gina Voss & Andreia F. Paiva & Alice Delerue Matos, 2021. "A Study of the Association between the Stringency of Covid-19 Government Measures and Depression in Older Adults across Europe and Israel," IJERPH, MDPI, vol. 18(15), pages 1-12, July.
    19. Mateusz Ciski & Krzysztof Rząsa, 2023. "Multiscale Geographically Weighted Regression in the Investigation of Local COVID-19 Anomalies Based on Population Age Structure in Poland," IJERPH, MDPI, vol. 20(10), pages 1-23, May.
    20. Leonie Kuen & Fiona Schürmann & Daniel Westmattelmann & Sophie Hartwig & Shay Tzafrir & Gerhard Schewe, 2023. "Trust transfer effects and associated risks in telemedicine adoption," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-22, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:7:p:5752-:d:1107227. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.