E-payment adoption and utilization among micro-entrepreneurs: a comparative analysis between Indonesia and Malaysia

Budi Trianto · Nik Hadiyan Nik Azman · Masrizal Masrizal

28 citations0/0 files storedJournal of Science and Technology Policy Management

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FinTech, Crowdfunding, Digital Finance Technology Adoption and User Behaviour Health, Technology, Consumer Behavior

Abstract

Purpose The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study aims to see the extent to which microentrepreneurs in Indonesia and Malaysia take advantage of the existence of e-payments in developing their business and the factors that influence the adoption of e-payments. Design/methodology/approach This study uses qualitative and quantitative approach. For quantitative approach, partial least squares structural equation modeling (PLS-SEM 4.0) was used to analyze the data. Using the nonprobability convenient sampling technique, this study collected 400 respondents from microenterprises in Indonesia and Malaysia in various regions. Findings Most of the microentrepreneurs in Indonesia and Malaysia have used fintech platforms, especially e-wallet and ATM debit. However, for quick response code-based fintech for business transactions, most microentrepreneurs have not taken advantage of the platform. Then the results of the digital payment adoption factor also differ for each country. Research limitations/implications This study is valuable for decision-makers and regulators. These results can be used to find a roadmap for regulators to build a digital economy, especially digital payments for microenterprises in both countries. In addition, these results can be used as a basis for making policies regarding digital payments. Originality/value To the best of the authors’ knowledge, this is the first study to compare e-payment adoption by microentrepreneurs in Indonesia and Malaysia. Indonesia and Malaysia are two countries in the Southeast Asia region that have great attention in fintech development. This study provides new insights about fintech, especially digital payments as a strategic approach in the digitalization era.

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References

2003User Acceptance of Information Technology: Toward A Unified View1 1988On the Evaluation of Structural Equation Models 2012Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology1 1985A technology acceptance model for empirically testing new end-user information systems : theory and results 2017Digital Finance and FinTech: current research and future research directions 2003The influence of technology anxiety on consumer use and experiences with self-service technologies 1987The Force of Law: Toward a Sociology of the Juridical Field 2007Exploring consumer adoption of mobile payments – A qualitative study

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