A Study of Factors Influencing Customers' Intention to use Mobile Phones for E-Payment in Klang Valley, Malaysia

Abstract

In the current market, usage of e-payment has been dominant instead of the physical cash payment method. Money is transferred out from a bank account using a debit card, credit card, or online banking to pay people using the e-wallet, offering the effortlessness of a cashless payment method. The Internet turned out to be the pillar technology, particularly for the retail industry, electronic payments, mobile payments, and banking systems initiated to develop. Beforehand, cashless transactions are just individuals making payments by using debit or credit cards, which are the main initiative of the development of banking system technology. Due to the era of globalization, the utilization of banking system technology between banks and third parties, debit, and credit debit cards can also be considered e-payments. The study's objectives are to identify the effect of perceived compatibility, social influences, personal innovativeness, and facilitating conditions on customer intentions among working adults who use mobile phones for e-payment in Klang Valley. This research shows that the use of the UTAUT model is helpful to assist academicians and marketers as a further research purpose to understand the consumer’s intention towards the acceptance of new technology which is e-payments. From this study, the finding shows that positive sign which is seen across the independent variables of social influence perceived compatibility, and facilitating condition. There is no relationship between personal innovativeness and customers’ intention to use mobile phones for e-payment in Klang Valley. Quantitative data had been obtained through the distribution of online questionnaires to 384 targeted respondents as part of the methodology of this research. In this study, three data analysis models have been applied in data analysis descriptive analysis, multiple linear regression, and Pearson correlation coefficient analysis. The survey was analysed through SPSS version 27.