The Acceptance of E-Wallet in Malaysia

Abstract

The e-wallet phenomenon in Malaysia is becoming more evident, and attention is growing. However, it is rising at a rate that is slower than its regional peers. This study is aimed to determine the main factors contributing to the acceptance of e-wallet among Malaysians. Besides, it is to identify the correlation between security, discount received, and perceived trust towards the e-wallet system. A set of questionnaires was established and distributed among 130 people living in Malaysia. The result shows that the main factors contributing to security are easy to get fast transactions and safe payment in the future. Followed by the e-wallet provider offers rewards and cashback. The e-wallet platform services are a reliable way to pay under perceived trust. The result also revealed that the most correlated among the factors are perceived trust. Due to the Covid-19 pandemics, it is recommended to use e-wallet payment in minimising the virus transition. For future research, a mixed-method approach can be employed to obtain more accurate information and reduce biasness.