IDEAS home Printed from https://ideas.repec.org/a/bas/econst/y2023i6p89-107.html
   My bibliography  Save this article

The Innovativeness and Value of Quick Response Code Payment for MSMEs: The Influence of Security-Related Factor

Author

Listed:
  • Ayatulloh Michael Musyaffi
  • Razana Juhaida Johari
  • Christian Wiradendi Wolor
  • Amer Azlan Abdul Jamal
  • Anaya Zahra Santika
  • Muhammad Arifsyah Arifi

Abstract

The implementation of QR code technology aims to make it easier for MSMEs and consumers to create a cashless society. However, many MSMEs still need to implement digital payment methods over time. This research aims to evaluate the acceptance of QR codes for MSMEs, especially regarding the role of innovativeness, security, and ease of use. This research targets MSMEs in Indonesia that have used the QR Code as a tool for making transactions. Questionnaires were distributed via Google form online, totalling 489 respondents who filled out. After the data is obtained, it is analyzed using a partial least square using smart-pls 4.0. Behaviour intention (BIQ) is the most influential construct on user behaviour (UBQ). The other most significant factors are convenience (PEUQ) and security (PSQ) for users. Meanwhile, other variables such as Personal innovativeness (PI), PEUQ, PSQ, and perceived usefulness (PUQ) can increase the positive impact on Perceived value (PVQ). Several factors, such as PEUQ and PSQ, can positively influence PUQ. However, there is a construct with few results: Perceived usefulness on intention to use. This is because MSMEs are more oriented toward consumer needs to buy products and services. So these findings provide insight for the government and service providers to improve security, convenience, and necessary QR code features that support MSME business activities.

Suggested Citation

  • Ayatulloh Michael Musyaffi & Razana Juhaida Johari & Christian Wiradendi Wolor & Amer Azlan Abdul Jamal & Anaya Zahra Santika & Muhammad Arifsyah Arifi, 2023. "The Innovativeness and Value of Quick Response Code Payment for MSMEs: The Influence of Security-Related Factor," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 89-107.
    • Handle: RePEc:bas:econst:y:2023:i:6:p:89-107
    as

    Download full text from publisher

    File URL: https://www.iki.bas.bg/Journals/EconomicStudies/2023/2023-6/06_Ayatulloh-Musyaffi.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Yongping Zhong & Hee-Cheol Moon, 2022. "Investigating Customer Behavior of Using Contactless Payment in China: A Comparative Study of Facial Recognition Payment and Mobile QR-Code Payment," Sustainability, MDPI, vol. 14(12), pages 1-19, June.
    2. Chang, Mona & Walimuni, Arachchilage C.S.M. & Kim, Min-cheol & Lim, Hwa-soon, 2022. "Acceptance of tourism blockchain based on UTAUT and connectivism theory," Technology in Society, Elsevier, vol. 71(C).
    3. Thakur, Ramendra & Angriawan, Arifin & Summey, John H., 2016. "Technological opinion leadership: The role of personal innovativeness, gadget love, and technological innovativeness," Journal of Business Research, Elsevier, vol. 69(8), pages 2764-2773.
    4. Tamilmani, Kuttimani & Rana, Nripendra P. & Wamba, Samuel Fosso & Dwivedi, Rohita, 2021. "The extended Unified Theory of Acceptance and Use of Technology (UTAUT2): A systematic literature review and theory evaluation," International Journal of Information Management, Elsevier, vol. 57(C).
    5. Alam, Md. Mahmudul & Awawdeh, Ala Eldin & Bin Muhamad, Azim Izzuddin, 2021. "Using E-Wallet for Business Process Development: Challenges and Prospects in Malaysia," OSF Preprints y7zds, Center for Open Science.
    6. Gordon, Ross & Dibb, Sally & Magee, Christopher & Cooper, Paul & Waitt, Gordon, 2018. "Empirically testing the concept of value-in-behavior and its relevance for social marketing," Journal of Business Research, Elsevier, vol. 82(C), pages 56-67.
    7. Türker, Cansu & Altay, Burak Can & Okumuş, Abdullah, 2022. "Understanding user acceptance of QR code mobile payment systems in Turkey: An extended TAM," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    8. Thorsten Beck & Leonardo Gambacorta & Yiping Huang & Zhenhua Li & Han Qiu, 2022. "Big techs, QR code payments and financial inclusion," BIS Working Papers 1011, Bank for International Settlements.
    9. Md. Shamim Hossain & Xiaoyan Zhou, 2018. "Impact of m-payments on purchase intention and customer satisfaction : perceived flow as mediator," International Journal of Science and Business, IJSAB International, vol. 2(3), pages 503-517.
    10. Liguo Lou & Zilu Tian & Joon Koh, 2017. "Tourist Satisfaction Enhancement Using Mobile QR Code Payment: An Empirical Investigation," Sustainability, MDPI, vol. 9(7), pages 1-14, July.
    11. Yan, Li-Ya & Tan, Garry Wei-Han & Loh, Xiu-Ming & Hew, Jun-Jie & Ooi, Keng-Boon, 2021. "QR code and mobile payment: The disruptive forces in retail," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    12. Semerikova, Ekaterina, 2020. "What hinders the usage of smartphone payments in Russia? Perception of technological and security barriers," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    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. Yuqi Zhao & Young-Hwan Pan, 2023. "A Study of the Impact of Cultural Characteristics on Consumers’ Behavioral Intention for Mobile Payments: A Comparison between China and Korea," Sustainability, MDPI, vol. 15(8), pages 1-22, April.
    2. Türker, Cansu & Altay, Burak Can & Okumuş, Abdullah, 2022. "Understanding user acceptance of QR code mobile payment systems in Turkey: An extended TAM," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    3. Briana M. Martinez & Laura E. McAndrews, 2023. "Do you take...? The effect of mobile payment solutions on use intention: an application of UTAUT2," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(3), pages 458-469, September.
    4. Verkijika, Silas Formunyuy & Neneh, Brownhilder Ngek, 2021. "Standing up for or against: A text-mining study on the recommendation of mobile payment apps," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    5. Wang, Guoqiang & Tan, Garry Wei-Han & Yuan, Yunpeng & Ooi, Keng-Boon & Dwivedi, Yogesh K., 2022. "Revisiting TAM2 in behavioral targeting advertising: A deep learning-based dual-stage SEM-ANN analysis," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    6. Sebastian Doerr & Jon Frost & Leonardo Gambacorta & Vatsala Shreeti, 2023. "Big techs in finance," BIS Working Papers 1129, Bank for International Settlements.
    7. Yuyang Zhao & Fernando Bacao, 2021. "How Does Gender Moderate Customer Intention of Shopping via Live-Streaming Apps during the COVID-19 Pandemic Lockdown Period?," IJERPH, MDPI, vol. 18(24), pages 1-24, December.
    8. Maksym Koghut & Omar AI-Tabbaa, 2021. "Exploring Consumers’ Discontinuance Intention of Remote Mobile Payments during Post-Adoption Usage: An Empirical Study," Administrative Sciences, MDPI, vol. 11(1), pages 1-33, February.
    9. Raza, Ali & Ishaq, Muhammad Ishtiaq & Khan, Ayesha & Ahmad, Rehan & Haj Salem, Narjes, 2023. "How fashion cewebrity influences customer engagement behavior in emerging economy? Social network influence as moderator," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    10. Cobelli, Nicola & Cassia, Fabio & Donvito, Raffaele, 2023. "Pharmacists' attitudes and intention to adopt telemedicine: Integrating the market-orientation paradigm and the UTAUT," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    11. Vieira, Valter Afonso & Rafael, Diego Nogueira & Agnihotri, Raj, 2022. "Augmented reality generalizations: A meta-analytical review on consumer-related outcomes and the mediating role of hedonic and utilitarian values," Journal of Business Research, Elsevier, vol. 151(C), pages 170-184.
    12. Hafizh Rafizal Adnan & Achmad Nizar Hidayanto & Sherah Kurnia, 2021. "Citizens’ or Government’s Will? Exploration of Why Indonesia’s Local Governments Adopt Technologies for Open Government," Sustainability, MDPI, vol. 13(20), pages 1-27, October.
    13. Loh, Xiu-Ming & Lee, Voon-Hsien & Hew, Jun-Jie & Tan, Garry Wei-Han & Ooi, Keng-Boon, 2023. "The future is now but is it here to stay? Employees’ perspective on working from home," Journal of Business Research, Elsevier, vol. 167(C).
    14. Wischaya Silanoi & Phaninee Naruetharadhol & Khwanjira Ponsree, 2023. "The Confidence of and Concern about Using Mobile Banking among Generation Z: A Case of the Post COVID-19 Situation in Thailand," Social Sciences, MDPI, vol. 12(4), pages 1-20, March.
    15. Yi Yong Lee & Chin Lay Gan & Tze Wei Liew, 2023. "Do E-wallets trigger impulse purchases? An analysis of Malaysian Gen-Y and Gen-Z consumers," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(2), pages 244-261, June.
    16. Nathaly Aya Pastrana & Rafael Obregón, 2023. "Harnessing the power of social marketing for sustainable development," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 20(3), pages 661-692, September.
    17. Sebastian Schneider & Frank Huber, 2022. "You paid what!? Understanding price-related word-of-mouth and price perception among opinion leaders and innovators," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(1), pages 64-80, February.
    18. Aw, Eugene Cheng-Xi & Tan, Garry Wei-Han & Cham, Tat-Huei & Raman, Ramakrishnan & Ooi, Keng-Boon, 2022. "Alexa, what's on my shopping list? Transforming customer experience with digital voice assistants," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    19. Hayat, Naeem & Salameh, Anas A. & Malik, Haider Ali & Yaacob, Mohd Rafi, 2022. "Exploring the adoption of wearable healthcare devices among the Pakistani adults with dual analysis techniques," Technology in Society, Elsevier, vol. 70(C).
    20. Wang, Nan & Xie, Wenxuan & Tiberius, Victor & Qiu, Yong, 2023. "Accelerating new product diffusion: How lead users serve as opinion leaders in social networks," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).

    More about this item

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

    Statistics

    Access and download statistics

    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:bas:econst:y:2023:i:6:p:89-107. 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: Diana Dimitrova (email available below). General contact details of provider: https://edirc.repec.org/data/ikbasbg.html .

    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.