Adoption of mobile wallet during COVID-19 outbreak: the consumer perspective / Lim Kah Boon, Yeo Sook Fern and Lim Chiou Fen

• Main Authors: Lim, Kah Boon, Yeo, Sook Fern, Lim, Chiou Fen
• Format: Article
• Language: English
• Published: Universiti Teknologi Mara, Selangor: Puncak Alam Campus: Faculty of Business and Management 2021
• Subjects: Banking; Electronic funds transfers
• Online Access: https://ir.uitm.edu.my/id/eprint/71571/1/71571.pdf; https://ir.uitm.edu.my/id/eprint/71571/; http://myjms.mohe.gov.my/index.php/JIBE/index
• Institution: Universiti Teknologi Mara

Government authorities have encouraged the public to use the contactless payment method in accordance with the new norm practised during the COVID-19 pandemic outbreak. Malaysians will receive RM50 in mobile wallet credit as part of a Penjana Economic Recovery Plan initiative in July 2020 to encourage safe and contact-free payment. Hence, this paper aimed to study the factors influencing consumer adoption of mobile wallets during the COVID-19 outbreak. The independent variables included in this study are perceived usefulness, perceived ease of use, perceived social influence and perceived security. A total of 250 Malaysians from three states of Malaysia are given a set of self-administered questionnaires to be answered. The response rate is 94%, with 235 sets of completed questionnaires used for analysis. The Partial Least Squares Structural Equation Modelling (PLS-SEM 3.3.3) is used to analyse the model. The hypothesis testing results concluded that perceived usefulness, social influence and perceived security have a significant relationship with mobile wallet adoption during the COVID-19 outbreak. Nonetheless, this research is useful for mobile wallet developers and other researchers. Lastly, the findings of this study provide some managerial implications for mobile wallet developers, which can help developers produce a better mobile wallet in the marketplace.