Perceived risk, trustworthiness, and security in E-wallet adoption: a study of DANA in West Sumatra
Keywords:
E-wallet; perceived risk; perceived trust; perceived security; intention to use
Abstract
This study aims to analyze the effect of perceived risk, perceived trust, perceived security on the intention to use DANA E-wallet in West Sumatra. The population in this study are people who use the DANA E-wallet in West Sumatra. This study involved 210 respondents as a sample. Data collection was carried out by distributing online questionnaires, and data was processed using SmartPLS software. The findings of this study indicate that (1) Perceived Risk has a negative but not significant effect on Perceived Trust, (2) Perceived Security has a positive and significant effect on Perceived Trust, (3) Perceived Risk has no negative and not significant effect on Intention to use, (4) ) Perceived Trust has a positive and significant effect on intention to use and (5) Perceived Security has a positive and significant effect on Intention to use.
Downloads
Download data is not yet available.
References
Aji, H. M., Berakon, I., & Md Husin, M. (2020). COVID-19 and e-wallet usage intention: A multigroup analysis between Indonesia and Malaysia. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1804181
Alrawad, M., Lutfi, A., Almaiah, M. A., & Elshaer, I. A. (2023). Examining the influence of trust and perceived risk on customers intention to use NFC mobile payment system. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 100070. https://doi.org/10.1016/j.joitmc.2023.100070
Asmaasyi, A. (2022). Apa Itu E-Wallet? Pengertian, Jenis, dan Kelebihan. Finansial Bisnis. https://finansial.bisnis.com/read/20220302/55/1506199/apa-itu-e-wallet-pengertian-jenis-dan-kelebihan
Bommer, W. H., Milevoj, E., & Rana, S. (2023). The intention to use cryptocurrency: A meta-analysis of what we know. Emerging Markets Review, 55(September 2022), 100962. https://doi.org/10.1016/j.ememar.2022.100962
Chang, H. H., & Chen, S. W. (2008). The impact of online store environment cues on purchase intention: Trust and perceived risk as a mediator. Online Information Review, 32(6), 818–841. https://doi.org/10.1108/14684520810923953
Dayanti, S., Udayana, I. B. N., & Maharani, B. D. (2021). Pengaruh Perceived Security Dan Information Quality Terhadap Trust Serta Dampaknya Terhadap Online Purchase Intention. Syntas Admiration, 2(11), 1–12.
Eid, M. I. (2011). Determinants of e-commerce customer satisfaction, trust, and loyalty in Saudi Arabia. Journal of Electronic Commerce Research, 12(1), 78–93.
Flavián, C., & Guinalíu, M. (2006). Consumer trust, perceived security and privacy policy: Three basic elements of loyalty to a web site. Industrial Management & Data Systems, 106(5), 601–620. https://doi.org/10.1108/02635570610666403
Forsythe, S. M., & Shi, B. (2003). Consumer patronage and risk perceptions in Internet shopping. Journal of Business Research, 56(11), 867–875. https://doi.org/10.1016/S0148-2963(01)00273-9
Ghozali, I. (2014). Structural Equation Modeling Metode Alternatif dengan Partial Least Square (PLS) Edisi 4. Universitas Diponegoro Semarang.
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121. https://doi.org/10.1108/EBR-10-2013-0128
Hong, Z., & Yi, L. (2012). Research on the Influence of Perceived Risk in Consumer On-line Purchasing Decision. International Conference on Applied Physics and Industrial Engineering, 24, 1304–1310. https://doi.org/10.1016/j.phpro.2012.02.195
Kassim, N. M., & Abdalla, A. (2006). The influence of attraction on internet banking: An extension to the trust-relationship commitment model. International Journal of Bank Marketing, 24(6), 424–442. https://doi.org/10.1108/02652320610701744
Kim, D. J., Ferrin, D. L., & Rao, H. R. (2008). A trust-based consumer decision-making model in electronic commerce: The role of trust, perceived risk, and their antecedents. Decision Support Systems, 44(2), 544–564. https://doi.org/10.1016/j.dss.2007.07.001
Kumar, A., Adlakaha, A., & Mukherjee, K. (2018). The effect of perceived security and grievance redressal on continuance intention to use M-wallets in a developing country. International Journal of Bank Marketing, 36(7), 1170–1189. https://doi.org/10.1108/IJBM-04-2017-0077
Lai, P. C., & Liew, E. J. Y. (2021). Towards a Cashless Society: The Effects of Perceived Convenience and Security on Gamified Mobile Payment Platform Adoption. Australasian Journal of Information Systems, 25, 1–25. https://doi.org/10.3127/AJIS.V25I0.2809
Lisana, & Handarkho, Y. D. (2022). Social aspect versus service quality in trust formation toward mobile payment adoption: a case study of Indonesia. Asia Pacific Journal of Marketing and Logistics, 35(6), 1349–1365. https://doi.org/10.1108/APJML-10-2021-0774
McKnight, D. H., Cummings, L. L., & Chervany, N. L. (1998). Initial trust formation in new organizational relationships. Academy of Management Review, 23(3), 473–490. https://doi.org/10.5465/AMR.1998.926622
Miyazaki, A. D., & Fernandez, A. (2001). Consumer Perceptions of Privacy and Security Risks for Online Shopping. Journal of Consumer Affairs, 35(1), 27–44.
Mukherjee, A., & Nath, P. (2007). Role of electronic trust in online retailing: A re-examination of the commitment-trust theory. European Journal of Marketing, 41(9–10), 1173–1202. https://doi.org/10.1108/03090560710773390
Patel, K. J., & Patel, H. J. (2018). Adoption of internet banking services in Gujarat: an extension of TAM with perceived security and social influence. International Journal of Bank Marketing, 36(1), 147–169. https://doi.org/10.1108/ijbm-08-2016-0104
Peter, J. P., Olson, J. C., & Sihombing, D. (1999). Consumer behavior : perilaku dan strategi pemasaran. Erlangga.
Schoorman, F. D., Mayer, R. C., & Davis, J. H. (2007). An Integrative Model Of Organizational Trust: Past, Present, And Future. Academy Of Management Review, 32(2), 344–354.
Sekaran, U., & Bougie, R. (2016). Research Methods For Business: A Skill Building Approach (7th ed.). Wiley & Sons, West Sussex.
Selnes, F. (1998). Antecedents and Consequences of Trust and Relationships. European Journal of Marketing, 32(3/4), 305–322.
Shin, D. H. (2009). Towards an understanding of the consumer acceptance of mobile wallet. Computers in Human Behavior, 25(6), 1343–1354. https://doi.org/10.1016/j.chb.2009.06.001
Thakur, R., & Srivastava, M. (2014). Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups for mobile payment services in India. Internet Research, 24(3), 369–392. https://doi.org/10.1108/IntR-12-2012-0244
Wu, J., Liu, L., & Huang, L. (2017). Consumer acceptance of mobile payment across time Antecedents and moderating role of diffusion stages. Industrial Management and Data Systems, 117(8), 1761–1776. https://doi.org/10.1108/IMDS-08-2016-0312
Zhou, T. (2014). An empirical examination of initial trust in mobile payment. Wireless Personal Communications, 77(2), 1519–1531. https://doi.org/10.1007/s11277-013-1596-8
Alrawad, M., Lutfi, A., Almaiah, M. A., & Elshaer, I. A. (2023). Examining the influence of trust and perceived risk on customers intention to use NFC mobile payment system. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 100070. https://doi.org/10.1016/j.joitmc.2023.100070
Asmaasyi, A. (2022). Apa Itu E-Wallet? Pengertian, Jenis, dan Kelebihan. Finansial Bisnis. https://finansial.bisnis.com/read/20220302/55/1506199/apa-itu-e-wallet-pengertian-jenis-dan-kelebihan
Bommer, W. H., Milevoj, E., & Rana, S. (2023). The intention to use cryptocurrency: A meta-analysis of what we know. Emerging Markets Review, 55(September 2022), 100962. https://doi.org/10.1016/j.ememar.2022.100962
Chang, H. H., & Chen, S. W. (2008). The impact of online store environment cues on purchase intention: Trust and perceived risk as a mediator. Online Information Review, 32(6), 818–841. https://doi.org/10.1108/14684520810923953
Dayanti, S., Udayana, I. B. N., & Maharani, B. D. (2021). Pengaruh Perceived Security Dan Information Quality Terhadap Trust Serta Dampaknya Terhadap Online Purchase Intention. Syntas Admiration, 2(11), 1–12.
Eid, M. I. (2011). Determinants of e-commerce customer satisfaction, trust, and loyalty in Saudi Arabia. Journal of Electronic Commerce Research, 12(1), 78–93.
Flavián, C., & Guinalíu, M. (2006). Consumer trust, perceived security and privacy policy: Three basic elements of loyalty to a web site. Industrial Management & Data Systems, 106(5), 601–620. https://doi.org/10.1108/02635570610666403
Forsythe, S. M., & Shi, B. (2003). Consumer patronage and risk perceptions in Internet shopping. Journal of Business Research, 56(11), 867–875. https://doi.org/10.1016/S0148-2963(01)00273-9
Ghozali, I. (2014). Structural Equation Modeling Metode Alternatif dengan Partial Least Square (PLS) Edisi 4. Universitas Diponegoro Semarang.
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121. https://doi.org/10.1108/EBR-10-2013-0128
Hong, Z., & Yi, L. (2012). Research on the Influence of Perceived Risk in Consumer On-line Purchasing Decision. International Conference on Applied Physics and Industrial Engineering, 24, 1304–1310. https://doi.org/10.1016/j.phpro.2012.02.195
Kassim, N. M., & Abdalla, A. (2006). The influence of attraction on internet banking: An extension to the trust-relationship commitment model. International Journal of Bank Marketing, 24(6), 424–442. https://doi.org/10.1108/02652320610701744
Kim, D. J., Ferrin, D. L., & Rao, H. R. (2008). A trust-based consumer decision-making model in electronic commerce: The role of trust, perceived risk, and their antecedents. Decision Support Systems, 44(2), 544–564. https://doi.org/10.1016/j.dss.2007.07.001
Kumar, A., Adlakaha, A., & Mukherjee, K. (2018). The effect of perceived security and grievance redressal on continuance intention to use M-wallets in a developing country. International Journal of Bank Marketing, 36(7), 1170–1189. https://doi.org/10.1108/IJBM-04-2017-0077
Lai, P. C., & Liew, E. J. Y. (2021). Towards a Cashless Society: The Effects of Perceived Convenience and Security on Gamified Mobile Payment Platform Adoption. Australasian Journal of Information Systems, 25, 1–25. https://doi.org/10.3127/AJIS.V25I0.2809
Lisana, & Handarkho, Y. D. (2022). Social aspect versus service quality in trust formation toward mobile payment adoption: a case study of Indonesia. Asia Pacific Journal of Marketing and Logistics, 35(6), 1349–1365. https://doi.org/10.1108/APJML-10-2021-0774
McKnight, D. H., Cummings, L. L., & Chervany, N. L. (1998). Initial trust formation in new organizational relationships. Academy of Management Review, 23(3), 473–490. https://doi.org/10.5465/AMR.1998.926622
Miyazaki, A. D., & Fernandez, A. (2001). Consumer Perceptions of Privacy and Security Risks for Online Shopping. Journal of Consumer Affairs, 35(1), 27–44.
Mukherjee, A., & Nath, P. (2007). Role of electronic trust in online retailing: A re-examination of the commitment-trust theory. European Journal of Marketing, 41(9–10), 1173–1202. https://doi.org/10.1108/03090560710773390
Patel, K. J., & Patel, H. J. (2018). Adoption of internet banking services in Gujarat: an extension of TAM with perceived security and social influence. International Journal of Bank Marketing, 36(1), 147–169. https://doi.org/10.1108/ijbm-08-2016-0104
Peter, J. P., Olson, J. C., & Sihombing, D. (1999). Consumer behavior : perilaku dan strategi pemasaran. Erlangga.
Schoorman, F. D., Mayer, R. C., & Davis, J. H. (2007). An Integrative Model Of Organizational Trust: Past, Present, And Future. Academy Of Management Review, 32(2), 344–354.
Sekaran, U., & Bougie, R. (2016). Research Methods For Business: A Skill Building Approach (7th ed.). Wiley & Sons, West Sussex.
Selnes, F. (1998). Antecedents and Consequences of Trust and Relationships. European Journal of Marketing, 32(3/4), 305–322.
Shin, D. H. (2009). Towards an understanding of the consumer acceptance of mobile wallet. Computers in Human Behavior, 25(6), 1343–1354. https://doi.org/10.1016/j.chb.2009.06.001
Thakur, R., & Srivastava, M. (2014). Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups for mobile payment services in India. Internet Research, 24(3), 369–392. https://doi.org/10.1108/IntR-12-2012-0244
Wu, J., Liu, L., & Huang, L. (2017). Consumer acceptance of mobile payment across time Antecedents and moderating role of diffusion stages. Industrial Management and Data Systems, 117(8), 1761–1776. https://doi.org/10.1108/IMDS-08-2016-0312
Zhou, T. (2014). An empirical examination of initial trust in mobile payment. Wireless Personal Communications, 77(2), 1519–1531. https://doi.org/10.1007/s11277-013-1596-8
Published
2023-09-30
How to Cite
Difa Trevina Kinanti, & Rahmiati, R. (2023). Perceived risk, trustworthiness, and security in E-wallet adoption: a study of DANA in West Sumatra. Marketing Management Studies, 3(3), 228-240. https://doi.org/10.24036/mms.v3i3.406
Section
Articles
