ISSN 2664-3995 (Print) & ISSN 2664-6757 (Online)

South Asian Research Journal of Business and Management

Abbreviated Key Title: South Asian Res J Bus Manag

| Volume-4 | Issue-2 | Mar-Apr -2022 | DOI: 10.36346/sarjbm.2022.v04i02.002

Original Research Article

Factors That Shape the Intention to Use E-Wallet Electronic Payments

on Online Shop Consumers
Bagas Dwi Purnanto*, I Made Sukresna
Department of Master of Management, Faculty of Economics and Business, Diponegoro University Semarang, Indonesia

*Corresponding Author: Bagas Dwi Purnanto

Department of Master of Management, Faculty of Economics and Business, Diponegoro University Semarang, Indonesia

Article History
Received: 01.02.2022
Accepted: 07.03.2022
Published: 14.03.2022

Abstract: Health protocols during a pandemic have required that contactless activities be carried out to prevent the
spread of the pandemic. In the field of payment transactions, many consumers have started using electronic payments
during the COVID-19 outbreak. This study reveals the factors that encourage consumers to want to use electronic
payments, namely risk perceptions, usage intentions, perceived benefits, additional features, consumer loyalty, quality
services, perceptions of the usefulness of e-wallet electronic payments. This research method uses quantitative methods
using Smartpls. Through a questionnaire, this study obtained answers from 200 respondents who answered completely.
The results showed that perceived benefits had a positive and significant effect on consumer loyalty, perceived benefits
had a positive and significant effect on intentions to use e-wallet, technical support had no positive and significant effect
on intentions to use e-wallet, additional features had a positive and significant effect on intentions to use e-wallet,
additional positive and significant effect on consumer loyalty and intention to use e-wallet payment has a positive and
significant effect on consumer loyalty.
Keywords: Perceived risk, perceived benefits, additional features, perceived usefulness, service quality, usage
intentions, consumer loyalty.

1. INTRODUCTION
Mainstream research shows that health protocols have educated people to use digitalization and carry out social
distancing and lockdowns. The same thing applies to payments that used to use money, starting to shift to electronic
payments (Bolt et al., 2005). Previous research has shown that electronic payments are gaining popularity, but how far
the use of electronic payments among Indonesians is still unclear (Mohammad, 2008; Uddin and Akhi, 2014; Polasik et
al., 2012). Previous research on electronic payments such as electronic payments has raised concerns about security risks
such as account takeovers, fraudulent transactions and data breaches.

Electronic payments are a type of electronic card similar to a credit or debit card (Allen, 2003). Electronic
payments must be linked to a person's bank account to make payment transactions. As a digital wallet, this payment
mechanism is considered new and vulnerable to fraudulent transactions, and data breaches that can harm consumers
(Scanio and Glasgow, 2015).

Previous studies have shown that there are many types of risks associated with the internet or online transactions
including product performance risks, financial risks, time/convenience risks, and psychological risks (Forsythe & Shi,
2003). In general, most of all studies found that the effect of perceived risk on behavior was negative which prevented a
person from overusing electronic transactions.

The emergence of COVID-19 has made people aware to avoid transmitting the virus due to cash payments. As a
result, they began to shift to using non-physical money such as electronic payments (eg, e-wallet, e-money, e-cash)
(Rossi, 2014). Unfortunately, the empirical findings on this issue remain to be understood.

Copyright © 2022 The Author(s): This is an open-access article distributed under the terms of the Creative Commons Attribution
4.0 International License (CC BY-NC 4.0) which permits unrestricted use, distribution, and reproduction in any medium for non-
commercial use provided the original author and source are credited.
CITATION: Bagas Dwi Purnanto & I Made Sukresna (2022). Factors That Shape the Intention to Use E-Wallet Electronic Payments on 36
Online Shop Consumers. South Asian Res J Bus Manag, 4(2), 36-44.
Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44
This study aims to measure the factors that influence users to use electronic payments . There are several factors
that encourage users to want to use electronic payments, including their level of knowledge in using it. For example,
users already know how to access and the benefits of making payments will be faster without having to enter too many
details every time. On the other hand, users may want Electronic payments to eliminate the need for intermediaries.
Cashiers are no longer needed in stores as transactions can be made with just a tap on the smartphone or simply by
scanning it. Transaction costs for businesses are reduced. From an entrepreneur's perspective, businesses that use this
payment method have a competitive advantage over others because it adds to the entire consumer experience.

At the individual level, they may want to adopt electronic payments because there are facilities and innovations
for the purpose of paying for food or transportation. Due to the lack of studies on this topic, this study contributes to the
literature by examining the effects of perceived risk, government support and perceived usefulness on customers
intending to use electronic payments during the COVID-19 outbreak. To provide more useful insights, another major
contribution of this research is to investigate the group differences between users as consumers and users as
sellers/entrepreneurs who implement electronic payments into their businesses.

2. LITERATURE REVIEW
The pandemic has changed people's lifestyles, especially in the use of money and electronic transactions (Abidin
et al., 2020). For entrepreneurs, traditional businesses that previously only accepted cash payments are now open to
electronic payments to increase their reach and market share. For consumers, users begin to feel the need for
convenience. They want financial transactions to be easier. They avoid long queues in stores to make payments, save
shopping time and ultimately have a more satisfying buying experience while at home (Arnold et al., 2005).

2.1. Perceived benefits and consumer loyalty

Perceived risk will decrease when vendors provide additional features and security maintenance that affect
consumer preferences. Some of the additional features include ease of use, convenience, service fees (Lee et al., 2012).
All of these additional features can boost customer loyalty. When consumers perceive certain advantages, their trust may
increase (Kim et al., 2008). Even if the vendor provides additional features to increase security and convenience, it can
be a key factor determining the user's perception of the benefits of electronic payments (Ogbanufe and Kim, 2018). Thus,
there is an important role of additional features on perceived benefits.

Many strategies are adopted by e-wallet companies in maintaining their user base. They may add features such
as online transactions, reloads, ticket bookings, demonetization to provide holiday bonuses and big discounts. Most of the
users might agree with the big prizes, however, other users might be concerned about such services which could impact
their loyalty to the E wallet company (Hayashi and Bradford, 2014). Thus, additional features can form consumer loyalty
if the company is consistent with its promises and continues to provide quality services to its customers with various
monetary benefits with technical advantages as well as confidentiality and security during payments. In the context of
this research, the hypothesis that links between perceived benefits and additional features plays a role in shaping
consumer loyalty.
H1a: Perceived benefits can shape consumer loyalty.
H1b: Perceived benefits can increase intention to use electronic payments.

2.4. Quality service

According to Singh, (2002) quality service is formed by the ability of electronic payment vendor companies to
provide fast service and support payment transactions. It is also important to consider that an individual's decision to
adopt an application system is determined by the perception of service quality (Kuo, 2018). Electronic payments have a
number of features and programs that are indicators of quality service. Consumers can customize and use it as effectively
as any other payment arrangement and there are even quality services to manage security issues (Trienekens and
Zuurbier, 2008). A service is considered quality when it has ease of use, fast online transactions and long-term usability.
Some e-payments also offer discounts, offers and ease of use.

Technical support is also important because it can be a factor that users consider in choosing a mobile wallet
(Singh et al., 2020). Previous research shows 54% of respondents strongly agree to use the cashless payment method if
the vendor has technical support to help them when there is a problem with their e-wallet (Jesuthasan and Umakanth,
2021). They also want problems to be resolved quickly so they don't cause security concerns. However, technical support
also has an impact on high data access costs. Several studies also emphasize the importance of vendor awareness in
working with trusted online merchants and intermediaries. Thus, three new hypotheses are proposed regarding service
quality, intention to use e-payments and how perceived usefulness mediates perceived risk and intention to use e-
payments.
H2: Quality service forms intention to use electronic payments
H3: Technical support forms an intention to use electronic payments

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Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44
2.2. Additional features
Additional features perceived by consumers in a buying situation are defined as additional features characterized
by a lack of trust and a great deal of fear of missing out (Everard and Galletta, 2005; Urban et al., 2009). With current
technological developments, fraud can occur due to data falsification or data misuse (Moore et al., 2012). Users who
make payments through secure servers and platforms may experience data abuse. Educated and experienced users may be
more careful in entering their account details all the time as they are kept by the company in a secure environment
(Cranor and Garfinkel, 2005). However, inexperienced users may have higher additional features as a result of being
unwary or regarding privacy concerns even though they believe the data is secure. Bad news also has the potential to give
rise to additional negative features that must be addressed and prevented by e-payment vendor companies (Omotubora
and Basu, 2018). Therefore, the hypothesis is proposed that:
H4a: Additional features can shape the intention to use electronic payments.
H4b: Additional features can form consumer loyalty.

2.5. Intention to use

Intention to use relates to the benefits derived from using electronic payments such as e-wallet (Soodan and
Rana, 2020). Instant purchases and payments are the main uses of e-wallet (Chandra, 2017). Users choose a mobile
wallet that can trust online merchants and intermediaries. The surge in growth in the e-payments industry can be
attributed to an actively growing smartphone user base (Mohammad, 2008). Users also see the competitive ability of
vendors to manage e-wallets for the convenience of their customers, which positively affects the intention to use mobile
wallets.
H5: Intention to use electronic payments can shape consumer loyalty.

3. RESEARCH METHOD
3.1. Data collection and sampling techniques
A quantitative approach was used by distributing online questionnaires to a sample of respondents in Jakarta and
Tangerang. The two regions were selected purposively based on the total active cases of COVID-19. Electronic payments
in this study are all server-based non-bank electronic payments. Surveys are distributed to generate insights about the
factors that influence consumer preferences. Primary data was collected from a convenience sampling survey submitted
via Google Forms. The responses from each respondent are recorded and classified appropriately to generate insights.
The secondary data collected were collected from journals, magazines, and websites. The sample was distributed online
with a total of 250 questionnaires. 230 questionnaires were returned, 30 were incomplete, and 200 were processed.

Table 1: Respondent Profile

Demographic Profile Sample (n) Percentage
Gender Female 116 58 %
Male 84 42 %
Age 17 – 24 39 19,5 %
(years old) 25 – 34 48 24 %
35 – 44 65 32,5 %
45 – 55 41 20,5 %
>55 7 3,5 %
Education Senior High School 23 11,5 %
College’s Degree 46 23 %
Bachelor’s Degree 85 42,5 %
Master’s Degree 46 23 %
Occupation Student 7 3,5 %
Freelancer 13 6,5 %
Government Employee 35 17,5 %
Private Employee 61 30,5 %
Housewife 25 12,5 %
Entrepreneur 33 16,5 %
Professional (Doctor, Lawyer, etc) 22 11 %
Others 4 2%
Household Expense < Rp. 3.500.000 /month 12 6%
Rp. 3.500.001 – Rp. 5.000.0000 /month 79 39,5 %
Rp. 5.000.001 – Rp. 7.500.000 /month 66 33 %
> Rp. 7.500.000 /month 43 21,5 %

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Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44

4. ANALYSIS AND DISCUSSION

a. Reliability Analysis and Construct Validity
In addition to construct validity tests, construct reliability tests were also carried out as measured by composite
reliability and Cronbach's Alpha (CA) from the construct measuring block indicator (Brahma, 2009). The rule of thumb
that is usually used to assess construct reliability is the Composite Reliability (CR) value of 0.70 for confirmatory
assessments, where values 0.60 to 0.70 are still acceptable for exploration assessments (Purwanto and Sudargini, 2021).

In this study, the outer reflective models used are reliability indicators (outer loading), construct reliability
(Cronbach's alpha and composite reliability), construct validity (Average Variance Extracted-AVE), and discriminant
validity (Heterotrait-Monotrait Ratio). In the Outer model output test, 27 indicators meet the Outer loading requirements.
Of the 27 reflective indicators in the research survey, two indicators, CY 5, and TS 3, were excluded from the digital-
based process variables. The outer model test results in Table 2 show that all reliable indicators in the research model are
in accordance with the required outer loading value. Here are the results:

Table 2: Construct Reliability and Validity

Variable & Indicators Outer CA CR AVE
Loading
Benefits Perception
BP1 : Payment by ewallet is easy to understand 0,830 0,902 0,927
BP2 : Payment by ewallet is easy to operate 0,750 0,718
BP3 : Payment services with e-wallet allow flexible interaction with users 0,895
BP4 : Payment services with ewallet provide useful guidance 0,904
BP5 : Overall, I find payment with ewallet easy to use 0,850
Quality Service
QS1 : Payment services with e-wallet make the borrowing process faster. 0,662 0,823 0,882
QS2 : Payment services using e-wallet make it easier to borrow and 0,832 0,655
borrow.
QS3 : Payment services with e-wallet can increase effectiveness in finding 0,850
loans
QS4 : Overall, I feel that e-wallet payments can be useful for lending and 0,874
borrowing activities.
Technical Support
TS1 : I am attracted to using ewallet because of the many technical support 0,808 0,688 0,816
in its features 0,597
TS2 : The technical support feature makes it easy for me to transact using 0,789
an e-wallet
TS4 : The technical support in the ewallet is very easy to understand 0,718
Additional Features
AF1 : In general, I would not hesitate to try new technologies. 0,850 0,773 0,849 0,586
AF2 : Among my colleagues, I am usually one of the first to try out new 0,772
features.
AF3 : I like to experiment with new technology. 0,801
AF4 : When I learn of a new product, I look for ways to try it. 0,621
Intention to Use
IU1 : If I had to choose to make an online payment, I would choose 0,718 0,782 0,843
payment by ewallet again. 0,519
IU2 : I intend to use ewallet payments in the future. 0,772
IU3 : I will often use e-wallet payments in the future. 0,772
IU4 : I would recommend using payment by ewallet. 0,657
IU5 : The features and services available on the e-wallet add to my interest 0,674
in transacting
Consumer Loyalty
CY1 : I think that e-wallet is very practical in transacting in modern life 0,766 0,815 0,879
CY2 : Creating word-of-mouth: in this case, the customer will say good 0,722 0,646
things about the ewallet to others
CY3 : I would recommend using the ewallet to family and friends 0,874
CY4 : I always use an e-wallet when transacting in e-commerce 0,845
CY5 : I will upgrade my ewallet app 0,766

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Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44
A construct is declared reliable if it has a composite reliability (CR) value above 0.70 and Cronbach's alpha
(CA) above 0.60. From the output of Smartpls above, all constructs have CR values above 0.70 and CA above 0.60. So it
can be concluded that the construct has good reliability.

Table 3: Discriminant Validity

Additional Benefits Consumer Niat Quality Technical
Features Perception Loyalty Menggunakan Service Support
Additional Features
Benefits Perception 0,120
Consumer Loyalty 0,568 0,200
Niat Menggunakan 0,513 0,158 0,659
Quality Service 0,535 0,129 0,811 0,632
Technical Support 1,052 0,094 0,764 0,525 0,749
Note: The diagonal score in bold is the mean extract variance (AVE) of each construct. The off-diagonal score is the
squared correlation between them. Discriminant validity was evaluated using the Heterotrait-Monotrait Ratio (HTMT)
criteria presented in Table 3. Discriminant validity was measured by the square root value of each AVE indicated in the
diagonal cell and required to be greater than the correlation coefficient (a value other than the value in the diagonal cell).

Figure 1: Results of Research Hypothesis Testing

Source: Smartpls 3.0 output statistics, processed, 2021.

b. Path Coefficient
To assess the significance of the predictive model in testing the structural model, it can be seen from the t-
statistical value between the independent variable and the dependent variable in the Path Coefficient table at the Smartpls
output below:

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Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44
Table 4: Significant and Coefficient
Reference and Hypothesis Path Original Sample Standard T Statistics P Values
Sample Mean Deviation (|O/STDEV|)
(O) (M) (STDEV)
Direct Relationship
Additional Features -> Consumer Loyalty 0,259 0,259 0,068 3,824 0,000
Additional Features -> Intention to Use 0,299 0,307 0,118 2,532 0,012
Benefits Perception -> Consumer Loyalty 0,205 0,199 0,066 3,106 0,002
Benefits Perception -> Intention to Use 0,226 0,123 0,068 2,385 0,020
Niat Menggunakan -> Consumer Loyalty 0,488 0,494 0,059 8,268 0,000
Technical Support -> Intention to Use 0,017 0,008 0,127 0,135 0,892

c. Hypothesis
1) Perceived benefits can shape consumer loyalty
It was found that the T-statistical value (3.106) > 1.96 and the original sample value was 0.205 (positive sign).
From these results, the hypothesis which states that perceived benefits have a positive effect on consumer loyalty is
accepted. Perception of benefits has a positive and significant effect on consumer loyalty. This is supported by Candra,
Nuruttarwiyah, & Hapsari (2020) suggesting that the perception of the ease of using a technology will have an impact on
increasing the desire to use the technology. The convenience felt by technology users will increase their interest in using
technology. Consumers want the convenience of their transaction activities. Several previous studies conducted by
(Aditya & Wardhana, 2016; Chitra Laksmi Rithmaya, 2016; Wahyuningtyas, 2016; Wibowo & Rosmauli, 2015) show
that the perceived usefulness variable has a positive and significant influence on online transaction interest.

2) Perceived benefits can increase the intention to use e-wallet payments

It was found that the T-statistical value (2.385) > 1.96 and the original sample value was 0.226 (positive sign).
From these results, the hypothesis which states that perceived benefits have a positive effect on intentions to use e-wallet
is accepted. Perceived benefits have a positive and significant effect on intention to use e-wallet. The higher the
perceived benefit, the more the intention to use the ewallet will increase. This is also in line with the results of research
conducted by Syamlan, (2021) that Perceived Benefit has a positive influence on Attitude. According to Kim et al.,
(2020) perceived benefit has an influence on attitude. The higher a person's perceived benefit for a website, the higher a
person's attitude on the website (Al-debei et al., 2015). In the research of Lin et al., (2013) it was found that perceived
benefit has a positive influence on attitude toward paying.

3) Technical support forms an intention to use ewallet payments

It was found that the T-statistical value (0.135) < 1.96 and the original sample value was 0.017 (positive sign).
From these results, the hypothesis which states that technical support has a positive effect on the intention to use e-wallet
is rejected. Technical support has no positive and significant effect on the intention to use e-wallet. Digital wallets are
convenient because they eliminate the need to carry physical cash. In addition, e-wallet services such as Venmo allow
users to add multiple accounts to their personal profiles. If an individual finds it easy to use a certain technology, the
tendency for that individual to use a technology will increase (Hamid, Razak, Bakar, Salihin, & Abdullah, 2015). In line
with research conducted by Hamid, Razak, Bakar, Salihin, & Abdullah (2015), research conducted by Candra,
Nuruttarwiyah, & Hapsari (2020) also shows that Perceived Ease of Use has an influence on Intention to Use. TAM
states that the Perceived Ease Of Use variable is an important determinant of the Attitude variable.

4) Additional features form intent using ewallet payments

It was found that the T-statistical value (2.532) > 1.96 and the original sample value was 0.299 (positive sign).
From these results, the hypothesis which states that additional features have a positive effect on the intention to use e-
wallet is accepted. Additional features have a positive and significant effect on the intention to use the e-wallet.
According to TAM, behavioral intention to use the system depends on two factors, namely attitudes toward using the
system (attitude toward using) and perceived usefulness of the system (perceived usefulness). The convenience offered
by Go-Pay can create a sense of love which will later influence users to reuse Go-Pay. And if Go-Pay exceeds user
expectations in terms of convenience, there will be an intention to reuse Go-Pay (Hines, 2015). Based on the results of
previous studies by Kim et al., (2010), perceived convenience has a positive effect on intentions to use mobile payments.
Go-Pay is one of the mobile payments. Previous research by Aritonang and Arisman also showed that perceived
convenience had a positive effect on interest in using Go-Pay (Fitrianingsih and Usman, 2021).

5) Additional features form consumer loyalty

It was found that the T-statistical value (3.824) > 1.96 and the original sample value was 0.299 (positive sign).
From these results, the hypothesis which states that additional features have a positive effect on consumer loyalty is
accepted. Additional features have a positive and significant effect on consumer loyalty. According to TAM, behavioral

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Bagas Dwi Purnanto & I Made Sukresna., South Asian Res J Bus Manag; Vol-4, Iss-2 (Mar-Apr, 2022): 36-44
intention to use the system depends on two factors, namely attitudes toward using the system (attitude toward using) and
perceived usefulness of the system (perceived usefulness). While a person's attitude towards using the system depends,
the user innovation offered by Go-Pay can create a sense of love which will later influence users to reuse Go-Pay. User
innovation is the individual's willingness to try every new information technology (Agarwal and Parasad, 1998: Turan,
Tunç, & Zehir, 2015). The level of user innovation has an influence on the user's desire to use an application (Okumus,
Ali, Bilgihan, & Ozturk, 2018).

6) Intention to use e-wallet payments can form consumer loyalty

It was found that the T-statistical value (8.268) > 1.96 and the original sample value was 0.488 (positive sign).
From these results, the hypothesis which states that the intention to use e-wallet payments has a positive effect on
consumer loyalty. Intention to use e-wallet payments has a positive and significant effect on consumer loyalty.
Satisfaction refers to the customer's evaluation and effective response to the overall online shopping experience.
Affective responses are known to be associated with a state of intense arousal that leads to focused attention on a specific
target and can therefore have an impact on ongoing behavior (Patterson and Spreng 1997). Oliver (1980) theorized that
satisfaction is positively related to future intentions, either directly or indirectly through its impact on attitudes. In the
final step of the satisfaction formation process, satisfaction determines the intention to patronize or not patronize the store
in the future (Swan and Trawick, 1981). Previous studies have provided empirical support for the relationship between
customer satisfaction and loyalty intentions in the context of B2C e-commerce (Devaraj et al., 2002, Chang et al., 2012).

5. RESULT
Based on the analysis and discussion above, it is concluded that perceived benefits have a positive and
significant effect on consumer loyalty, perceived benefits have a positive and significant effect on intentions to use e-
wallet, technical support has no positive and significant effect on intentions to use e-wallet, additional features have a
positive and significant impact on intentions using e-wallet, additional features have a positive and significant effect on
consumer loyalty and intention to use e-wallet payments has a positive and significant effect on consumer loyalty.

This article has a contribution that can add insight into the attitudes of users that affect the intention to use in the
e-wallet, including what underlies their intention to use behavior. In addition, this research can also be useful to support
further research related to the intention to use theory. The current research is an important contribution to the theory of
customer loyalty intentions by integrating perceptions of fairness, trustworthiness, and the two main variables of TAM,
namely perceived usefulness and perceived ease of use.

LIMITATIONS
While the findings are encouraging and useful, the study has certain limitations. Partly because the survey
respondents were limited to e-wallet users in Jakarta, this study may have limited application to the B2C e-commerce
market in Indonesia. Furthermore the results might be influenced by self-selection bias as our sample consisted only of
ewallet users. Individuals who have stopped shopping online may have different perceptions about the influence of TAM
constructs, trust, and the three dimensions of justice, so they can be influenced differently by them.

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