ISSN: 2222-6990
Open access
Developments in digital finance help vulnerable communities access financial services, particularly in developing countries. Financial technology innovation offers advancements to the financial industry and consumers that make their transactions less complex and more convenient. E-wallet is a great platform that will have a favorable impact on the economy and the nation's social fabric to achieve the government's goal of becoming a cashless society, contactless payment, digital economy, and in line with Sustainable Development Goal (SDG 9). Covid-19 has expedited the usage of digital payments, and the move to contactless transactions has highlighted inequities. The level of consumer acceptance of e-wallet for the low-income group in Malaysia is still low. To realize the inspiration of a cashless nation and sustainable development, therefore, the study aims to identify the factors affecting electronic wallet acceptance among the Malaysian low-income group in Melaka. Three determinants are identified which are as follows: Perceived Usefulness (PU), Perceived Ease of Use (PEOU), and Social Influences. Questionnaires were distributed to the 109 respondents (employees and students in Universiti Teknologi MARA, Melaka) using an online survey platform. The data obtained were analyzed using SPSS v26 which involves frequency analysis, descriptive analysis, reliability tests, Pearson correlation, and multiple regression analysis. Based on the findings, Social Influences (SI) are discovered to have a substantial impact on e- wallet acceptance. The study's findings will be of interest in insisting the government establish the cashless society and helps to improve the financial technology infrastructure that guides to the successful implementation of SDG9.
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(Kamis et al., 2023)
To Cite this Article: Kamis, R., Ismail, S., Rahman, N. H. A., Muthusamy, G. a/p, Abidin, M. I., Awang, A. H., & Zain, Z. M. (2023). Acceleration towards Cashless: Safeguarding the Low-Income Group? International Journal of Academic Research in Business and Social Sciences, 13(8), 1001– 1014.
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