Factors Affecting E-Wallet Usage in Sarawak

Abstract

E-wallet is a part of the fintech solution that provides customer convenience through fast speed of transaction using RFID technology, QR code and stable internet connection. The usage of e-wallet in Malaysia and Sarawak has risen in the past few years and accelerated during the Covid-19 pandemic crisis due to the needs of contactless payment to reduce the spread of the virus. However, the usage of e-wallet and factors that affect the usage of e-wallet in Sarawak has not been identified through research. Therefore, this research aims to identify the factors influencing e-wallet usage and evaluate the factors using Technology Acceptance Model (TAM) affecting Sarawakians perception towards e-wallet in general and towards Sarawak's own e-wallet app, SarawakPay. Data collection of online questionnaires have been distributed and 111 responses was analyzed using descriptive analysis and correlation analysis as well as multiple linear regression to obtain mean and standard deviation values. Five formulated hypotheses were tested using multiple linear regression showing a significant and positive relationship among the TAM variables. Descriptive analysis results have also shown that top factors affecting usage of SarawakPay is performance expectancy and perceived value. The result from this research indicates that the usage of e-wallet in Sarawak is still at medium level. The evaluation using TAM shows that there is significant relationship between the Technological and Social factors to the usage of e-wallet in Sarawak.