Willingness to adopt mobile wallet in Malaysia

Chua, Chang Jin (2021) Willingness to adopt mobile wallet in Malaysia. Master dissertation/thesis, UTAR.

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Abstract

A mobile wallet is a part of financial technology (FinTech) products. A mobile wallet is an electronic wallet that can make financial transactions. Mobile wallet adoption of Malaysian consumers still in the infant stage. It is a lower adoption rate as compared with other countries, such as China and India. The studies that related the factors affecting the mobile wallet adoption in the Malaysia context are less. Hence, it is crucial to study the willingness to adopt mobile wallet among the consumers. The research objectives are 1) to identify the factors affecting the consumers’ willingness to adopt mobile wallet in Malaysia, 2) to analyse the relationships between perceived usefulness, perceived ease of use, perceived security, social influence, price value, social media, brand image, and behavioural intention to use with the willingness to adopt mobile wallet, and 3) to investigate the relationship between the behavioural intention to use mobile wallet and willingness to adopt mobile wallet in Malaysia. The data collected by online questionnaires. Data analysis used descriptive analysis, correlation analysis, homogeneity test, reliability test, multiple regression analysis, multivariate analysis, and hypothesis testing. The results showed that perceived usefulness, perceived ease of use, social influence, and brand image have a significant influence on the consumers’ behavioural to use the mobile wallet, and also the consumers’ behavioural has significantly influenced toward willingness to adopt mobile wallet. The mobile wallet companies could make the appropriate marketing decision in designing a more personalized mobile wallet to Malaysian consumers. The findings might support the government to generate the formative digital payment policies to motivate mobile wallet adoption toward a cashless nation in the South East Asia region. The government should support the dynamic development of the mobile wallet market and protect the benefits of consumers with the effective rules and regulations.

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