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| Cashless Transaction: An Assessment of Factors Influencing Consumer Adoption of E-Wallets
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MARITA R. PAROBROB, Ph.D., DANIELA CABELA
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Abstract:
Understanding consumer preferences is essential for financial market stakeholders to maintain a competitive edge as cutting-edge payment methods continue to replace cash-based systems. This study was adopted to gather data from Business Administration students as respondents. The collected data were analyzed using descriptive statistics. As a result, perceived usefulness, perceived ease of use, and privacy and security displayed significant relationships influencing consumer adoption to e-wallet. the study discovered a strong correlation between the usefulness, usability, and privacy/security of e-wallets. Ease of use and usefulness have a significant positive high correlation indicating that as e-wallets become more user-friendly, more people will find them to be useful. Moreover, there is a significant positive low correlation between privacy/security and usefulness, suggesting that as users perceive e-wallets to be more secure, so does their perception of their usefulness. The relationship between security and ease of use is also significantly positive, indicating that as users find e-wallets simpler to use, their perception of the security and privacy of these platforms also improves.
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