The purpose of this study is to investigate the consumer insight on E-wallet payment in terms of motivation and perception of E-wallet user behavior in Bangkok. In addition, this study aims to investigate the attitudes, behaviors and aspects that drive the intention to use E-wallet and barriers of non-users through qualitative methods as in-depth interviews. The findings of this research showed that E-wallet is one of the marketing tools to motivate consumers to buy products due to promotions and convenience.
However, there are some users who found that the e-wallet cannot motivate them to buy products because they feel that it is only one of the payment channels that help users have more convenience when shopping. This study is useful for readers who are in e-wallet business industries or who want to build e-payment business and want to increase customers and profit margins for future business growth. Furthermore, the ultimate goal of the e-wallet is to facilitate cashless payments and completely replace the entire content of a physical wallet to be within a single application.
Importantly, this study was designed to help businesses better understand Thai consumers' perceptions of electronic wallet payments and the potential factors associated with electronic wallet use. The result of this research will be useful for any company to improve the payment experience of consumers and thus expand the target group for business growth. In particular, companies that have an E-wallet payment channel can also use the results of this research to improve their system. sustainability. The main objective is to understand consumer motivation and consumer perception through E-wallet payments.
This finding aims to explain Thailand's e-wallet payment market and related topics.
LITERATURE REVIEW
- Definition of E-wallet
- Closed
- Semi-Closed
- Open
- Technology Acceptance Model (TAM)
- Perceived Usefulness
- Perceived Ease of Use
- Behavioral Intention
- Social Influence
- Sales Promotion
- Perceived Risk
- The Theoretical Model of This Study
Davis (1989) identified that the convenience variable is related to perceived usefulness and perceived ease of use, but the relationship to intention to use and attitude cannot be measured directly. It can influence the intention to adopt and accept the technology, directly or indirectly (Tariq, 2017). Perceived ease of use is defined as a personal judgment to interact with a specific technology or information system (Davis, 1989).
Many researches proved that perceived ease of use had an affirmative correlation through intention to use (Davis, 1989; Gefen and Straub, 1997; and Venkatesh, 2000). Perceived ease of use is studied in this work to determine factors that may influence e-wallet users. Furthermore, it is one of the main behavioral principles to influence technology adoption and acceptance along with the revised version of the original and TAM models.
Behavioral intention to use is a possible measurement of technology adoption, while the TAM uses actual use to symbolize a time measurement or frequency of technology adoption. However, it is difficult to engage customer behavior by obtaining a different intention to use measurement. Much research has revealed both theoretical and empirical evidence for the influential relationship between intention to engage in a performance and definitive behavior (Norazah and Norbayah, 2011).
If consumers can see the benefits of using those things, they can act as promoters for the business (Achmad and Rudi, 2018). Thus, social influence of information can moderate a role between intention to buy and customers' attitude towards a product by enhancing beliefs and consumers' confidence in their preferences towards the products (Young and Jaideep, 2017). Sales promotion is definitely one of the important factors in marketing strategies for the marketers.
Packaging companies revealed the statistics that almost 75% of marketing budgets included sales promotions (Neslin, 2002). In terms of purchase intention, understanding the consumer's value in sales promotion is the most important since promotion is one of the factors that motivates the consumer to buy the products. Furthermore, previous studies discovered that perceived risk was one of the factors to engage consumers in online platform and affected the customer's intention to use online channel to make purchases (Khaled and Faqih, 2013).
RESEARCH METHOOLOGY
- Research Design
- Population
- Sampling
- Data Collection
- Research Instrument
- Personal information 1. Age
- General information about E-wallet
- The reason of E-wallet adoption
- Motivation towards E-wallet
The researcher interviewed 30 interviewees consisting of 15 consumers who used E-wallet and 15 consumers who never used E-wallet. Therefore, exploration of these target groups could obtain useful information about perceptions and attitudes towards the motivating factor in the E-wallet. The interviews were conducted to explore the consumer's feeling, perception and behavior when using the E-wallet as well as motivational factors that influenced the users.
Therefore, the following questions were used to collect information from the participants, which were structured in four parts. This part is separated into different questions for users and non-users to understand their real experiences. This part was to investigate the reasons why they used or did not use E-wallet and the last part was to understand consumer motivation to buy products through E-wallet.
If the participants have never used an e-wallet, the question will be "How do you make a payment when buying products?". Apart from the above reason, are there any other reasons to use e-wallet.
RESEARCH RESULT
- Findings
- E-wallet Users
- Promotions
- Convenience
- Social environment
- Contactless
- Non-E-wallet Users
- Complicated Process
- Unattractive Promotions
- Perceived Risk
- Motivation towards E-wallet
They said “they can't use the e-wallet everywhere because the e-wallet device doesn't cover all the stores where they go to buy products. Therefore, we believe that people will increasingly use e-wallet because they may be worried and aware of touching banknotes, and this situation may lead to a cashless society in the future. The interviewees who had no experience of using the E-wallet knew about the E-wallet from advertisements, messages and their friends, but they did not want to use it because they thought it was not necessary, since in everyday life they can use cash or credit to make purchases card. .
This study also found that respondents did not want to use E-wallet due to three factors: complicated process, unattractive promotions and perceived risk. Most non-e-wallet users revealed that they did not use E-wallet because they were lazy to study the process of E-wallet registration and there were so many E-wallet brands that they didn't know which one was the best. They claimed that the process of using E-wallet was complicated and it had no clear instruction which attracted them to use it.
However, they suggested that if E-wallet has clear instructions and is easy to use, they might change their mind about using it. Since there are many payment options, the majority of non-E-wallet users prefer to use credit cards to make purchases because they have been familiar with using credit cards for years. Some interviewees said that they like using credit cards because it is easy to control the money budget and they can pay only once a month.
Therefore, most of them might change their minds to use E-wallet in the future if there is a special offer and more attractive promotions than credit cards. If there are many users who use E-wallet and guarantee that it offers the most security. They believe that people will start using E-wallet and the number of users will definitely increase.
After the behavior of respondents to use E-wallet was clarified, it was found that 8 out of 15 E-wallet users agreed that E-wallet was one of the reasons for buying products because they enjoyed promotions and a convenient payment method. They could switch to a different payment channel depending on the product they wanted to buy or what they wanted to spend money on. So I think E-wallet can't motivate me to make purchases in this kind of categories, but to call Taxi via application, I think it motivates me to use E-wallet because I want to pay via E-wallet instead of cash”.
RECOMMENDATION
Conclusion
Most of them were not at all interested in e-wallet promotions and said there was a complicated process to register and enter their information before using the e-wallet. They described being able to spend money through the same payment channels they have always used, such as cash, credit card and PromptPay. Therefore, the barrier of the adoption process can be considered not only for the limitation of technological knowledge, but also for the choice of human interaction preference.
Therefore, regardless of the possibility of using E-wallet, the acceptance factors may have their interpersonal problems.
Limitations
Recommendations
- Improvement of E-wallet
- Marketing Communication Campaigns
- Increasing E-wallet Machine
Like today, people start using e-wallet because of the promotions and suggestions of the staff in every store. As mentioned about special promotions, E-wallet can start strong promotions like 50% discount or buy 1 get 1 free to attract non-E-wallet users. In addition, another way of communication is advertising using popular celebrities or influencers to promote campaigns.
Additionally, marketing campaigns can create positive word of mouth, help connect non-eWallet users to a trail adoption driven by social influence support from friends and family, and prevent bad adoption experiences that makes them refuse to use in the future. Referring to consumer knowledge, both e-wallet users and non-e-wallet users described that nowadays, the e-wallet still had fewer machines in each store through online and offline. They suggested that every store should have electronic wallet machine to increase the number of users and convenience.
Therefore, if E-wallet companies still have a low number of machines, they may not be able to maintain the current customers, and users may drop off afterwards. In addition, one of the non-e-wallet users said "to increase the number of users, the best supporter will be the government. If the government understands the potential and usefulness of E-wallet, they will support all E-wallet companies with creating the cashless society in the future.
Analysis of factors affecting intention to use e-wallet using a technology acceptance model approach (case study: GO-PAY).
APPENDIX
Qualitative questions
Participants Information
