Abstract

E-wallet, also referred to as digital wallet, is a software application designed to replace physical wallets, with the primary purpose of facilitating online transactions when users wish to make virtual payments. Nowadays, E-wallets are not limited to mobile applications, but they have also been extended to wearable devices, such as smartwatches, enabling users to make payments via their watches. This research study focuses on the top three main E-wallet service providers in Malaysia, namely TouchNGo E-wallet, Boost, and Grab pay. The aim of this paper is to explore the real-world implementation of E-wallets among mobile phone users in Malaysia, employing the Technology Acceptance Model as the theoretical framework. Six independent variables were identified to study the implementation of E-wallets, and a total of 500 respondents shared their opinions on retaining the usage of E-wallet in Malaysia. The data collected were analysed using SPSS for Pearson Correlation Analysis and Multiple Linear Regression. Out of the six hypotheses, five were supported with one not supported as its p-value is greater than 0.05. The highest correlation coefficient falls under Business Resources with 0.704. The findings of the study delve into the implications and constraints, providing insights for the future advancement of E-wallets within the Malaysian context.

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The article was added to IASJ on 2024-02-28

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