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Tan, Mui Lim (2025) Acceptance and resistance of eWallet adoption: an integrated theoretical exploration in dynamic socio-economic environments. PhD thesis, University of Nottingham.

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Abstract

EWallet, as a form of mobile wallet has emerged as a disruptive innovation in various industries. It has gained significant attention and adoption during the COVID-19 pandemic where the pandemic created a need for contactless payment methods to reduce the risk of virus transmission through physical banknotes (Undale et al., 2021). Hence, eWallet has the potential to serve as a crisis management tool due to its convenience and accessibility. It presented a notable shift towards digital transactions and a reduction of physical cash reliance, moving to a cashless economy. Therefore, this research aims to capture the eWallet adoption in response to crises, their limitations, and barriers to their adoption in promoting its sustainability usage.

This study will present an integrated and enhanced technology acceptance framework for digital wallet (eWallet) adoption in the context of social psychology effects by drawing on several theories, including the enhanced Unified theory of acceptance and use of technology (UTAUT2); protection motivation theory (PMT); as well as innovation resistance theory (IRT). Since most technology adoption models have focused on beneficial technologies, this updated technology adoption model could potentially be valuable in predicting the adoption of protection technologies during periods of crisis. In the current context, it is hoped that the research model namely UTAUT2-IRT-PMT-Sec would help to understand how information related to health threats can persuade people to adopt new technology. The study seeks to explain the behavioural intention towards eWallet usage specifically. It considers the impact of perceived barriers on how the technology gains momentum and diffuses (or spreads), and to understand how digital strategies can be incorporated to strengthen payment systems for pandemic management and future preparedness for COVID-19 and other infectious diseases. Moreover, the use of digital and mobile payment will continue to thrive post-crisis, driving digital payment methods in various sectors of the economy. This study is pivotal in guiding both short-term crisis response measures and long-term policy adjustment by filling the knowledge gap to understand and adapt the evolving landscape of digital payments in crisis situations.

Data from an initial pilot online survey of 56 eWallet active users were collected to examine the model’s validity. Later, the actual data of 248 Malaysians across Malaysia were collected, to test the model further. For data analysis, this study performed all formative exogenous and endogenous constructs using partial least square structural equation modelling (PLS-SEM) with composite confirmatory analysis (CCA) to confirm the measurement models (Hair et al., 2020). In addition, the integrated model will analyse the strength of ‘Government support’ (GS) in terms of its moderating relationship with behavioural intentions. The finding of this study identified that protection motivation factors, value barrier, usage barrier, image barrier played significant roles in influencing behaviour intention to adopt eWallet during the dynamic socio-economic environments such as the pandemic crisis. Furthermore, it was found that females have a stronger negative relationship between the hedonic motivation and behavioural intention to use eWallet during the crisis as compared to males. In terms of age, the results indicate that the older age group has a stronger positive relationship between habit and behavioural intention to use eWallet as compared to the younger generation. The UTAUT2-IRT-PMT-Sec model possesses 55% prediction accuracy of the behaviour intention to adopt eWallet during the pandemic crisis and demonstrated a sound explanatory power.

The empirical results showed that the variables, namely, protection motivation, hedonic motivation, usage barrier and image barrier are important to users. However, based on the Importance-Performance Map Analysis (IPMA), the related services provided by the authorities or service providers are underperforming in terms of eWallet adoption during the pandemic crisis. Therefore, the eWallet service providers should consistently educate their users to make sure their potential or existing eWallet users are keeping up to date on the enhancement of the services due to ease of use is an important factor and continuously promoted as part of preventive motivation to use eWallet. Moreover, the user experience of eWallet can be enhanced by introducing more hedonic values while using the eWallet services by adding elements that provide pleasure, enjoyment, and emotional satisfaction by creating more engaging and delightful interactions for the users.

Lastly, the results also show that government plays a significant role in building users’ confidence in perceived security. Therefore, through social media or other channels, the government should raise awareness and educate the public about eWallets. The government may build confidence for its citizens and succeed in achieving its goals of a major scale-up of cashless society and financial inclusion.

Item Type:	Thesis (University of Nottingham only) (PhD)
Supervisors:	Mutum, Dilip Chakrabarty, Anita Seow, Yvonne
Keywords:	unified theory of acceptance and use of technology (UTAUT2); protection motivation theory (PMT); innovation resistance theory (IRT); perceived security; COVID-19; eWallet; partial least square structural equation modelling (PLS-SEM)
Subjects:	H Social sciences > HF Commerce
Faculties/Schools:	University of Nottingham, Malaysia > Faculty of Arts and Social Sciences > Nottingham University Business School
Item ID:	79894
Depositing User:	Tan, Mui
Date Deposited:	08 Feb 2025 04:40
Last Modified:	08 Feb 2025 04:40
URI:	https://eprints.nottingham.ac.uk/id/eprint/79894

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