Abstract
The outbreak of Covid-19 had accelerated cashless and contactless digital payment like e-wallet. It was projected that the e-wallet market in Malaysia has the potential to grow to USD 20 billion by 2024. The Bank Negara Malaysia (BNM) had granted licence to 53 e-wallet providers and the competition remains fierce. This study is conducted to investigate the factors affecting the adoption of e-wallet by extending TAM model by perceived trust and promotion. The target population was those aged between 18 to 50 and 249 valid responses were collected by using purposive sampling technique. The demographic frequencies and outlier analysis were assessed using the Statistical Package for the Social Sciences (SPSS) while the measurement and structural models were examined using partial least squares-structural equation modelling (PLS-SEM). The results show that perceived trust, convenience, and promotion significantly affect the adoption of e-wallet. This study served as a guidance to the e-wallet service providers to gain competitive advantage in competitive e-wallet industry in terms of attracting new user and also retaining existing users.
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