Digital Economy in Emerging Fintech Payments: Factors Influencing Behavioral Intentions of Generation X to Use Electronic Wallet

Latifah Anggraeni () and Yuhana Astuti
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Latifah Anggraeni: Telkom University, School of Economics and Business
Yuhana Astuti: Telkom University, School of Economics and Business

A chapter in Proceedings of the International Conference on Sustainable Collaboration in Business, Technology, Information, and Innovation (SCBTII 2024), 2024, pp 130-148 from Springer

Abstract: Abstract Indonesia has seen significant digital economy growth. It is leading to the accessibility of FinTech, which enhances financial activities and improves living standards through digital payments. The government’s strategy of inclusive finance aims to improve older adults’ accessibility to financial services, with e-wallets playing a crucial role in boosting digital transactions during the COVID-19, particularly affecting Generation X. There is a gap between the number of older adults who use digital payments in support of government programs. Gen X receives minimal attention from digital payment providers, despite its significant purchasing power and vulnerability to the virus. Therefore, the study aims to analyze the factors that influence the behavioral intentions of Generation X in Indonesia to use e-wallet services during COVID-19. The study utilized the TAM Model and conducted an electronic questionnaire-based survey of 241 Generation X in Indonesia, utilizing Structural Equation Modeling analysis. The results of this study confirm that Perceived COVID-19 Risk, Subjective Norm, Perceived Usefulness, and Perceived Ease of Use have a positive impact on the Behavioral Intentions of Indonesian Gen Xers to use e-wallet services. The study offers valuable insights into consumer behavior during pandemics, specifically examining the intent of different age groups to utilize e-wallets. Additionally, it does a comparative analysis of studies conducted in emerging nations to uncover commonalities and disparities in the adoption of technology.

Keywords: E-wallet; Financial Technology; Generation X; Pandemic; Technology Adoption (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-558-4_8

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