Financial Technology Acceptance Factors of Electronic Wallet and Digital Cash in Indonesia

Abstract

Despite limited financial resources of people with minimum wage in Indonesia, they have embraced Financial Technology (fintech). There are two types of fintech, i.e. card-based electronic wallet and application-based digital cash. The aim of this research is to rank the acceptance factors of e-wallet and digital cash by low income individuals. Initially, Systematic Literature Review (SLR) was conducted to develop a structural hierarchy of the Analytic Hierarchy Process (AHP). It was followed by interviews with fintech experts to validate the structural hierarchy. Finally, AHP pairwise comparison questionnaires were filled out by 18 respondents, who have experiences using electronic wallet or digital cash. The results show that highest reception factor of both fintech types is ease of use. Speed is the second top rank acceptance factor of electronic wallet, whilst cost-benefit is the second factor of digital cash reception. These findings can enable fintech providers to improve their better marketing strategy, by enhancing their products related its ease of use, speed, and cost.

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