A Model of Factors Influencing Consumers’ Intention to Use e-Wallet System in Malaysia: A Systematic Review

Abstract

Mobile payment technology specifically e-wallet is receiving growing attention recently in light of the government’s initiative to build a cashless society. The e-wallet phenomena are becoming more apparent in Malaysia, however, it is growing at a rate slower than its regional peers. Due to the rapid development of this technology, organisations and consumers are also concerned about rising security issues. Technological advancement in the e-commerce industry and the ubiquity of smartphones has helped to propel the need to study the intention to use e-wallets. As the e-wallets markets further expected to increase exponentially in Malaysia, it is crucial to study the consumers’ behavioural intention to use e-wallets for the benefits of the e-wallets service provider in Malaysia. Correspondingly, this paper presents a review of the literature aimed at advancing the body of knowledge by proposing a conceptual model combining the theories of; the extended unified theory of acceptance and use of technology (UTAUT2) with perceived security and behavioural intention. This paper is built upon a systematic literature review method and it is expected that researchers can have a more precise justification of the consumer behavioural intention to use e-wallet in Malaysia. This paper provides practical implications for the extension of UTAUT2 theory with perceived security and subsequently assist e-wallet service provider when devising appropriate strategies in planning and increasing consumer’s intention to use the e-wallet.