Rahman, Mahfuzur and Ismail, Izlin and Zakaria, Shamshul Bahri and Rahman, Muhammad Khalilur (2022) An empirical analysis of cashless payment systems for business transactions. Journal of Open Innovation: Technology, Market, and Complexity, 8 (4). ISSN 2199-8531, DOI https://doi.org/10.3390/joitmc8040213.
Full text not available from this repository.Abstract
This paper examines the antecedents of cashless payment systems among businesses in Malaysia. The adoption of cashless payment systems by businesses has the potential to reduce the costs related to handling huge amounts of cash in the market and enhance transaction speed. Unfortunately, its current adoption in Malaysia is still small and very little is known about the factors. A seven-factor model based on the TOE framework was developed and tested. The partial least square (PLS) statistical approach was employed to analyze data collected from 200 business entities in Malaysia. The results reveal that compatibility and technology competence have higher significant relationships with the adoption of cashless payment systems. Management support, firm critical mass, competitive pressure, and information intensity are significantly related to the adoption of cashless payment systems, while firm size is not associated with it. The findings of this study provide significant practical implications for Malaysian stakeholders and technology vendors to recognize factors that affect a firm’s adoption of cashless payment systems to support business transactions. By investigating the phenomenon through the TOE framework, this study presents an integrated model of cashless payment systems by businesses. Our findings also offer guidance for future application of the PLS method in cashless payment and related research. The paper provides a more holistic understanding of the factors influencing cashless payment systems among businesses. © 2022 by the authors.
| Item Type: | Article |
|---|---|
| Funders: | University of Sharjah |
| Uncontrolled Keywords: | Businesses; Cashless payment adoption; Partial least square; TOE framework |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce > Business |
| Divisions: | Faculty of Business and Economics Faculty of Business and Economics > Department of Finance |
| Depositing User: | Ms. Juhaida Abd Rahim |
| Date Deposited: | 27 Dec 2023 02:35 |
| Last Modified: | 27 Dec 2023 02:35 |
| URI: | http://eprints.um.edu.my/id/eprint/43998 |
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