Value-Based Adoption Model on E-Wallet in Malaysia: A Conceptual Paper

Abstract

In the current modern era of accelerated technological progression, e-wallet services are budding rapidly on a global scale and Malaysia swiftly moving towards a cashless society. This conceptual paper aims to shed lights to the body of knowledge and market practitioners by examining the determinants of perceived value and adoption intention, grounded by Value-based Adoption Model. It is believed that the findings of this research will shed lights into important issues related to consumers' adoption intention towards e-wallet in Malaysia that has not been focused by previous studies. From the theoretical point of view, this research will expand the understanding on the factors that affecting new technology adoption from the perspective of consumers. From the managerial implication perspective, e-wallet service providers should create an impression of desirable benefits if a positive impacts of perceived benefits is found. To be precise, higher perceived value indicates higher intention to adopt e-wallet, which indicates that the adoption intention is not only triggered by extrinsic benefits, but also the intrinsic results of using e-wallet. Hence, market practitioners should conduct market research regularly in order to observe consumer needs and wants and improve the products and services to meet consumers' expectations.