Abstract
As embodied in Malaysia's Vision 2020, Malaysia aims to become a cashless country. Therefore, the existing statistical data indicated that the e-wallet adoption rate remains at a low percentage. It has been a barrier for Malaysia in achieving the aims to become a cashless country. The use of e-wallet was also expected to rise amidst the Covid-19 pandemic; to optimize an intervention for the Covid-19 outbreak. Thus, the current study investigates the factors that correlate with the intention to use e-wallet during the Covid-19 pandemic. This study is designed using a quantitative approach through cross-sectional data. A total of 160 Malaysian youths participated and collected by using an online survey. Further, the Task-Technology Fit (TTF) model and Technology Acceptance Model (TAM) were integrated into this study with an extended variable, namely, perceived credibility. The analysis results showed that Individual-Technology Fit, Task-Technology Fit, Perceived Usefulness, Perceived Ease of Use and Perceived Credibility were significantly correlated to Covid19 intra-period e-wallet adoption. In conclusion, a considerable theoretical contribution was demonstrated by integrating TTF-TAM and Perceived Credibility in a single integrated model. The constructs in the TTF model (i.e., Individual-technology fit and task-technology fit) has positively related to the constructs in the TAM model (i.e., perceived usefulness and perceived ease of use). This study is useful to stakeholders and provides enhanced directions to meet market needs by understanding and predicting e-wallet user's post-pandemic behavior, thereby helping service providers attract new users and retain their existing users.
Highlights
As embodied in Malaysia's Vision 2020, Malaysia aims to become a cashless country through electronic payment
This study examines the correlation between Perceived Usefulness and Malaysian Youths' intention to use an e-wallet
The results indicated the Task-Technology Fit (TTF) model correlated with the Technology Acceptance Model (TAM) model, and the extended variable of Perceived Credibility has a positive correlation to Covid19 intra-period e-wallet adoption
Summary
As embodied in Malaysia's Vision 2020, Malaysia aims to become a cashless country through electronic payment. The government of Malaysia has introduced several incentives to cope with the pandemic, one of which, as announced by Prime Minister Malaysia Tan Sri Muhyiddin Yassin, was the RM50 digital initiative under the “Penjana Economic Recovery Plan” (New Straits Time, 2020, June 5). This e-wallet credit is worth RM750 million and has benefited about 15 million Malaysians
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