TY - JOUR
T1 - Factors influencing the intention to use e-wallet among generation Z and millennials in the Philippines
T2 - An extended technology acceptance model (TAM) approach
AU - Belmonte, Zachariah John A.
AU - Prasetyo, Yogi Tri
AU - Cahigas, Maela Madel L.
AU - Nadlifatin, Reny
AU - Gumasing, Ma Janice J.
N1 - Publisher Copyright:
© 2024 The Authors
PY - 2024/10
Y1 - 2024/10
N2 - The use of E-wallets in the Philippines experienced remarkable growth in recent years. This study investigated the key factors influencing the intention to use E-wallets among Generation Z and Millennials in the country, employing an extended Technology Acceptance Model (TAM) framework. A total of 500 respondents from these demographic groups participated in an online survey featuring 24 indicators, selected through a stratified sampling method. Using Partial Least Square - Structural Equation Modeling (PLS-SEM), the analysis revealed that perceived ease of use, perceived usefulness, social influence, attractiveness of alternatives, perceived trust, perceived security, and perceived value significantly influenced users' intention to adopt E-wallets. Notably, perceived trust emerged as a stronger predictor than perceived value. This research provided valuable insights into the factors shaping user intentions and consumer satisfaction, enhancing the understanding of E-wallet adoption in the industry. Furthermore, the incorporation of the extended TAM strengthened the theoretical framework for studying E-wallet adoption in developing countries like the Philippines.
AB - The use of E-wallets in the Philippines experienced remarkable growth in recent years. This study investigated the key factors influencing the intention to use E-wallets among Generation Z and Millennials in the country, employing an extended Technology Acceptance Model (TAM) framework. A total of 500 respondents from these demographic groups participated in an online survey featuring 24 indicators, selected through a stratified sampling method. Using Partial Least Square - Structural Equation Modeling (PLS-SEM), the analysis revealed that perceived ease of use, perceived usefulness, social influence, attractiveness of alternatives, perceived trust, perceived security, and perceived value significantly influenced users' intention to adopt E-wallets. Notably, perceived trust emerged as a stronger predictor than perceived value. This research provided valuable insights into the factors shaping user intentions and consumer satisfaction, enhancing the understanding of E-wallet adoption in the industry. Furthermore, the incorporation of the extended TAM strengthened the theoretical framework for studying E-wallet adoption in developing countries like the Philippines.
KW - E-business
KW - E-commerce
KW - Electronic wallet
KW - Structural equation modeling
UR - http://www.scopus.com/inward/record.url?scp=85206256394&partnerID=8YFLogxK
U2 - 10.1016/j.actpsy.2024.104526
DO - 10.1016/j.actpsy.2024.104526
M3 - Article
AN - SCOPUS:85206256394
SN - 0001-6918
VL - 250
JO - Acta Psychologica
JF - Acta Psychologica
M1 - 104526
ER -