Promoting Sustainable Financial Services Through the Adoption of eWallet Among Malaysian Working Adults

This study investigated the effect of perceived usefulness, perceived ease of use, social influence, facilitating conditions, compatibility, and perceived trust on the intention and adoption of electronic wallet (eWallet) among working adults in Malaysia. The cross-sectional research design was adopted to gather quantitative data from 1,156 working adults via Google form link shared across the social media platform. The collected data were analyzed with partial least square structural equation modeling (PLS-SEM) tool using SmartPLS 3.1. The study outcomes revealed that perceived usefulness, perceived ease of use, facilitating conditions, compatibility, and perceived trust displayed significantly positive effect on both the intention to use and the adoption of eWallet. Additionally, the intention to use eWallet mediated the relationships of perceived usefulness, perceived ease of use, social influence, facilitating conditions, compatibility, and perceived trust with adoption to use eWallet. Household income significantly moderated the relationship between compatibility and intention to use eWallet. eWallet service providers and financial development policy making in Malaysia should focus on promoting the application of eWallet to uplift its social influence, besides enhancing consumer security to harness the adoption of eWallet amidst the public. Essentially, the intention-behavior gap needs to be bridged by exploring new factors that can affect the behavior.