Behavioral intentions towards the use of digital wallets

Jonathan C Gano-an, Xueting Pan
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The global financial ecosystem has been continuously transformed by digital transactions in today's technologically advanced world and electronic wallets have become essential to the lives of the increasing population. This study used a structured questionnaire and surveyed 606 bank customers in Yunnan, China, in order to examine the behavioral intentions on the use digital wallet. This study used partial-least square structural equation modeling to test five structural relationships. Findings showed that the respondent’s perception on perceived ease of use, perceived usefulness, awareness of digital wallets, and behavioral intentions on the use of digitals wallets were described as high. In terms of correlational statistics, all constructs are correlated, however, it was noted that digital wallet awareness and perceived usefulness have the lowest correlation. Furthermore, in terms of regression model test, all paths (PEU>IU, PU>IU, PR>IUU, AW>IU, and IU > BI) were found to be statistically significant. This indicates that perceived ease of use, perceived usefulness, perceived ease of use, perceived risks, awareness, and intention to use significantly influence behavioral intention. Hence, all hypotheses set were significant and supported. Findings also suggest that Fintech companies may continue invest to making sure that e-wallets are less risky and finally, leveraging the continuous popularity on the use of digital wallets is a way to promote financial inclusity among the population of this region.
E-wallet; Digital Payments; Behavioral Intentions; Fintech
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