“Understanding the barriers in adopting digital payment”

Erin, Lee (2023) “Understanding the barriers in adopting digital payment”. Project Report. Melaka, Malaysia, Universiti Teknikal Malaysia Melaka. (Submitted)

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Abstract

Digital payment can also be said to be a combination of mobile payment systems that allows users to pay their purchase using just their smartphones. Bank Negara Malaysia has adopted more than 30 e-wallet licenses in Malaysia. They believe that digital payment have big potential in changing Malaysia into a cashless society. Research shows that the adoption of the cashless payment is still very low among consumers in Malaysia. Past studies in digital payment usually focus more on the factors that successfully adopted the usage of cashless payment but not much research was on the barriers that affect the adoption of digital payment. Further studies of these issues need to be investigated to help improve the adoption of digital payment to lead Malaysia to a more technological world. Hence, the study used Innovation Resistance Theory such as usage barrier, value barrier, risk barrier and tradition barrier. The target respondent of this research is Generation Z. The sampling that is used is purposive sampling and voluntarily response sampling. This research used the survey questionnaires to let the respondent answer through google form for the respondent to answer anytime and anywhere with their smartphones. The Krejcie and Morgan Formula was used and the result shows that 384 respondents will be needed in this research. Hence, the researcher used 4 weeks to collect the data and use the SPSS output source to analyze the data. The research showed that all hypothesis testing of the independent variable is accepted and the most significant barrier is the risk barrier. In conclusion, the Innovation Resistance Theory has been applied in the research and all objectives of the research: “To identify the barriers that affect the adoption of digital payment”; “To determine how the barriers are affecting the adoption of digital payment” and “To investigate the most significant barrier that affects the adoption of digital payment” are successfully conducted.

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