Digital wallet war in Asia: Finding the drivers of digital wallet adoption

Abstract

Using data sourced from a quantitative study of 457 digital wallet users in Indonesia, this paper aims to find the drivers of digital wallet adoption. The study uses a comprehensive technology acceptance model that combines both social environment and technological characteristics in order to predict intention to use digital wallet services. The study finds that the drivers of intention to use digital wallet technology are usefulness, ease of use and innovativeness. The study also finds that digital wallet adoption is influenced by personal experience, perceived security, subjective norms and job relevance. The paper discusses both the theoretical and practical implications of the research findings so that digital wallet providers can devise appropriate business strategies to encourage the wider acceptance of digital wallet technology. The paper also enhances the current knowledge about the drivers of digital wallet acceptance using modified TAM2, which has never been done before.