The Digital Payment Paradigm: An Analysis of Factors Influencing E-Wallet Adoption Among Malaysian Youth

Abstract

In recent years, the proliferation of digital payment methods has transformed the financial landscape. This study investigates the determinants that drive e-wallet adoption among Malaysian youth, shedding light on critical factors shaping their preferences and behaviors in the realm of digital transactions. The independent variables adopted for this study were perceived usefulness (PU), perceived ease of use (PEOU), perceived trust, perceived security, social influence, and adoption of e-wallet in Malaysia. The theories adopted in the research were Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT). A total of 150 respondents participated in this research who is among Malaysian youths. After the analysis. the study findings shown that Perceived Usefulness, Perceived Security and Perceived Trust have a positive and significant relationship to Adoption of E-wallet, but Perceived Ease of Use and Social Influence have not significantly impact Adoption of E-wallet.