FACTORS INFLUENCING THE ADOPTION OF E-WALLETS AMONG GEN Z IN SELANGOR

Abstract

Cashless transaction has become a major agenda globally in the financial sector as it promotes a greater benefit towards the revolution of transaction. Besides lowering the cost of handling money, financial institutions and governments are actively promoting the usage of cashless transactions. In Malaysia, the level of adoption of cashless transaction specifically using e-wallets are still low despite the high smartphone and internet penetration throughout the country. There are not much study being conducted on the low adoption level in Malaysia whereby most studies focus on the functionality and features from technical perspective. This study investigates the factors influencing the adoption of e-wallet among gen z in Selangor. 203 respondents were involved in this study and the study is applying the Extended Technological Acceptance Model (TAM) where the measures is on Perceived Ease of Use, Perceived Usefulness, and Perceived Security. The dependent variable in this study is the user adoption towards e-wallet among gen z in Selangor. Data collection is via questionnaires and the analysis were conducted using Pearson`s Correlation and Multiple Regression. From the results, it is concluded that all three variables namely Perceived Ease of Use, Perceived Usefulness and Perceived Security are the factors influencing the adoption of  e-wallet among gen z in Selangor. Hence, the Extended TAM Model can be applied in predicting the adoption of e-wallet among gen z in Selangor.