Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia

Balakrishnan, Vimala and Shuib, Nor Liyana Mohd (2021) Drivers and inhibitors for digital payment adoption using the cashless society readiness-adoption model in Malaysia. Technology in Society, 65. ISSN 0160-791X, DOI

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The paper investigated the relationship between readiness towards a cashless society and adoption of cashless applications among Malaysians. Specifically, drivers and inhibitors were explored and examined to assess their direct and indirect effects through the development of the Cashless Society Readiness-Adoption model. The model was developed based on Unified Theory of Acceptance and Use of Technology 2 and Technology Readiness Index 2.0. Self-administered surveys were administered in online and offline modes, resulting in 258 valid responses (Mage = 34.5; SDage = 7.82). Structured equation modelling revealed Ease of Use, Usefulness, Innovativeness, Optimism and Lack of awareness to directly affect users' readiness in going cashless. Interestingly, perceived readiness had no direct effect in the adoption of digital payment services, however, the effect was found to be significant with the inclusion of risk and intrinsic motivation as the mediating factors. Similarities and dissimilarities with existing studies are discussed in this paper. Results would be beneficial to respective parties such as service providers, financial institutions and government agencies to develop and design strategies to encourage more people to embrace digital payment services effectively.

Item Type: Article
Funders: Ministry of Education, Malaysia[FP109-2018A], Ministry of Education, Malaysia[FRGS/1/2018/ICT04/UM/02/11]
Uncontrolled Keywords: Cashless society; Inhibitors; Drivers; Malaysia; Surveys
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HE Transportation and Communications
Divisions: Faculty of Computer Science & Information Technology
Depositing User: Ms Zaharah Ramly
Date Deposited: 14 Apr 2022 02:40
Last Modified: 14 Apr 2022 02:40

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