Influential Factors Shaping eWallet Adoption Among Malaysia's Generation Y

The popularization of mobile devices such as smartphones has made the eWallet growing important in today’s marketplace. Therefore, there is a need to investigate the factors that affect the adoption of eWallet among people in Malaysia. Specifically, four main factors such as perceived price (ability to pay), convenience, transaction cost and security, have been identified for further study. 125 responses were collected from Gen Y who are located in Klang Valley and 100 responses were used for data analysis. The findings revealed that all four factors significantly influenced the adoption of eWallet, and the perceived price has the highest impact, followed by security, convenience and lastly transaction cost. The findings of this study are practically relevant for the service providers, finance institutions as well and policymakers to develop the relevant strategies for the promotion of eWallet payments.