Digital Payment Revolution: Reshaping Student Transactions at ISB Atma Luhur

Authors

  • Seno Hadi Digital Business, ISB Atma Luhur
  • Krisna Adiyarta Postgraduate MSIM, ISB Atma Luhur
  • Devi Irawan Teknik Informatika, ISB Atma Luhur
  • Arifin Arifin Postgraduate MSIM, ISB Atma Luhur

DOI:

https://doi.org/10.62007/joumi.v3i2.495

Keywords:

Digital Wallet, Unified Theory of Acceptance and Use of Technology, Performance Expectancy, Behavioral Intention, Use Behavior

Abstract

This study investigates the factors influencing digital wallet adoption among ISB Atma Luhur Pangkalpinang students through a modified UTAUT model, addressing the growing need for digital payment solutions in higher education. The research uniquely integrates hedonic motivation, habit, and promotion factors into the UTAUT framework, extending our understanding of digital wallet adoption in campus environments.The study employed a quantitative approach, collecting data from 300 students through purposive sampling and analyzing it using Partial Least Square Structural Equation Modeling (PLS-SEM). The findings revealed that performance expectancy emerged as the strongest predictor of behavioral intention (β=0.794), followed by effort expectancy (β=0.585) and hedonic motivation (β=0.353), aligning with Yang et al.'s (2021) observations on digital payment adoption patterns. Behavioral intention demonstrated a robust mediating effect on use behavior (β=0.804), supported by promotion (β=0.581), while social influence and habit showed no significant impact. The research model exhibited strong predictive capability, explaining 87.5% of variance in behavioral intention (R²=0.875) and 75.2% in use behavior (R²=0.752). These findings provide crucial theoretical and managerial implications for developing effective digital wallet adoption strategies in higher education institutions, particularly focusing on enhancing user experience and perceived benefits.

References

Alam, M., Awawdeh, A., & Muhamad, A. (2021). Using e-wallet for business process development: challenges and prospects in malaysia. Business Process Management Journal, 27(4), 1142–1162. https://doi.org/10.1108/bpmj-11-2020-0528

Amankwa, E., Amissah, G., & Okoampa-Larbi, R. (2023). Cashless economy -- the nexus of covid-19 and e-wallet usage intentions: a multi-group analysis between formal and informal sector workers in ghana. Journal of Science and Technology Policy Management, 14(6), 1155–1183. https://doi.org/10.1108/jstpm-09-2021-0137

Azmee, D., & Azami, N. (2023). Factors influencing the adoption of e-payments among the consumer in malaysia. International Journal of Academic Research in Business and Social Sciences, 13(9). https://doi.org/10.6007/ijarbss/v13-i9/18037

Daragmeh, A., Sági, J., & Zéman, Z. (2021). Continuous intention to use e-wallet in the context of the covid-19 pandemic: integrating the health belief model (hbm) and technology continuous theory (tct). Journal of Open Innovation Technology Market and Complexity, 7(2), 132. https://doi.org/10.3390/joitmc7020132

Elasaria, R., & Nurabiah, N. (2024). Preference digital wallet by generation z with the unified theory of acceptance and use of technology 2 (utaut 2) model approach and perceived risk. European Journal of Management Issues, 32(1), 3–13. https://doi.org/10.15421/192401

Fahad. (2022). Exploring the determinants of adoption of Unified Payment Interface (UPI) in India: A study based on diffusion of innovation theory. Digital Business, 2(2). https://doi.org/10.1016/j.digbus.2022.100040

Flavián, C., Guinalíu, M., & Lu, Y. (2020). Mobile payments adoption -- introducing mindfulness to better understand consumer behavior. The International Journal of Bank Marketing, 38(7), 1575–1599. https://doi.org/10.1108/ijbm-01-2020-0039

Janteng, J., & Dino, N. (2022). Investigating the determinants of e-wallet adoption intention in malaysia: an empirical study. International Journal of Academic Research in Business and Social Sciences, 12(6). https://doi.org/10.6007/ijarbss/v12-i6/13855

Karim, W., Haque, A., Ulfy, M., Hossain, M., & Anis, M. (2020). Factors influencing the use of e-wallet as a payment method among malaysian young adults. Journal of International Business and Management. https://doi.org/10.37227/jibm-2020-2-21

Kwateng, K., Atiemo, K., & Appiah, C. (2019). Acceptance and use of mobile banking: an application of utaut2. Journal of Enterprise Information Management, 32(1), 118–151. https://doi.org/10.1108/jeim-03-2018-0055

Liu, Q., Geertshuis, S., & Grainger, R. (2020). Understanding academics’ adoption of learning technologies: a systematic review. Computers & Education, 151, 103857. https://doi.org/10.1016/j.compedu.2020.103857

Nguyen, H. T. (2020). Determinants of accounting information systems quality: Empirical evidence from Vietnam. Accounting, 6(2), 185–198. https://doi.org/10.5267/j.ac.2019.10.004

Phan, T., Ho, V., & Le-Hoang, P. (2020). Factors affecting the behavioral intention and behavior of using e--wallets of youth in vietnam. Journal of Asian Finance Economics and Business, 7(10), 295–302. https://doi.org/10.13106/jafeb.2020.vol7.n10.295

Puasa, S., Tan, J., Gazali, H., & Ayub, N. (2021). Consumers’ behavioural intention to use e-wallet during the pandemic of covid-19: applying the unified theory of acceptance and use of technology (utaut). Labuan Bulletin of International Business and Finance (Lbibf), 19, 64–78. https://doi.org/10.51200/lbibf.v19i2.2959

Pusparani, N., Setiyorini, T., & Frieyadie, F. (2023). Usability testing analysis on digital wallet applications to measure user satisfaction. Jurnal Riset Informatika, 5(4), 529–542. https://doi.org/10.34288/jri.v5i4.119

Rahi, S., Mansour, M., Alghizzawi, M., & Alnaser, F. (2019). Integration of utaut model in internet banking adoption context. Journal of Research in Interactive Marketing, 13(3), 411–435. https://doi.org/10.1108/jrim-02-2018-0032

Sagnier, C. (2020). User Acceptance of Virtual Reality: An Extended Technology Acceptance Model. International Journal of Human-Computer Interaction, 36(11), 993–1007. https://doi.org/10.1080/10447318.2019.1708612

Sivathanu, B. (2019). Adoption of digital payment systems in the era of demonetization in india. Journal of Science and Technology Policy Management, 10(1), 143–171. https://doi.org/10.1108/jstpm-07-2017-0033

Sutarso, Y., Sekarsari, L. A., Hidayati, E. A., Andariksa, H., & Putri, M. Z. (2022). Understanding the attributes of digital wallet customers: Segmentation based on perceived risk during the Covid-19 pandemic. Jurnal Ekonomi Dan Bisnis, 25(2), 381–400. https://doi.org/10.24914/jeb.v25i2.5676

Tay, L., Chan, K., Ng, T., Cheah, Y., & Hussain, H. (2022). The continuous intention to use e-wallet in the post covid-19 era: the perspective of generation y. 52–67. https://doi.org/10.2991/978-94-6463-080-0_5

Ummasyroh, U., Astarina, Y., Riana, D., Muharramah, U., & Africano, F. (2024). Business development through the application of financial technology (digital payment) in MSMEs. ASEAN International Journal of Business, 3(2), 169–181. https://doi.org/10.54099/aijb.v3i2.997

Upadhyay, N., Upadhyay, S., Abed, S., & Dwivedi, Y. (2022). Consumer adoption of mobile payment services during covid-19: extending meta-utaut with perceived severity and self-efficacy. The International Journal of Bank Marketing, 40(5), 960–991. https://doi.org/10.1108/ijbm-06-2021-0262

Xiao, W., Wang, X., Xia, S., Yu, Q., Li, S., & Chen, S. (2021). What drives creative crowdsourcing? an exploratory study on the persuasion of digital storytelling. Science Technology and Society, 27(1), 23–45. https://doi.org/10.1177/09717218211025355

Yang, M. (2021). The adoption of digital technologies in supply chains: Drivers, process and impact. Technological Forecasting and Social Change, 169. https://doi.org/10.1016/j.techfore.2021.120795

Zuo, D., Zoubi, M. A. L., Kwon, W. S., Kügler, M., Zmyślony, P., Zirkel, S., Zimmerman, B. J., Zhu, Y. P., Zhou, Y., Zheng, S., Zheng, P., Zheng, K., Zheng, D., Zhen, R., Zhao, X., Zhao, L., Zhang, Y., Zhang, X., Zhang, W., … Aalst, M. K. van. (2021). Theory of organizational knowledge creation as a framework for transnational learning in regional development. Sustainability (Switzerland), 14(1), 1–13. https://doi.org/10.1163/21971927-bja10029

Downloads

Published

2025-06-30

How to Cite

Seno Hadi, Krisna Adiyarta, Devi Irawan, & Arifin , A. (2025). Digital Payment Revolution: Reshaping Student Transactions at ISB Atma Luhur. Jurnal Multidisiplin Indonesia, 3(2). https://doi.org/10.62007/joumi.v3i2.495

Similar Articles

<< < 2 3 4 5 6 7 8 > >> 

You may also start an advanced similarity search for this article.