Intention to Use e-Wallet for Mobile Payment: An Analysis Using the Unified Theory of Acceptance and Use of Technology (UTAUT)

Payments that were formerly limited to cash can now be made via non-cash alternatives, such as e-wallets, in this digital age. These days, they are among the most popular payment options in Indonesia. Using the Unified Theory of adoption and Use of Technology, or UTAUT paradigm, this study seeks to ascertain the adoption of e-wallets in Indonesia as well as the factors influencing their use. The purpose of this study is to ascertain how utilizing an e-wallet affects an individual's behavioral intention. The survey uses a quantitative methodology and has 382 respondents who are spread throughout different parts of Indonesia. PLS-SEM SmartPLS 3 and IBM SPSS were used to evaluate regression analysis and structural equation modeling on the data. It was discovered that Effort Expectancy, Performance Expectancy, and Social Influence have a major and beneficial impact on behavioral intention. In contrast, it has been demonstrated that perceived risk, perceived cost, perceived trust, and self-efficacy are less reliable indicators of users' behavioral intention and have little bearing on it. This finding suggests that Indonesian e-wallet users behave similarly to those in underdeveloped nations in that they prioritize convenience, functionality, and social impact over aspects like risk, trust, and security.