Comparing Generation Z’s Behavior Intention in Using Digital Wallet for Online and In-store Transaction: A Unified Theory of Acceptance and Use of Technology 2 Approach
Comparing Generation Z’s Behavior Intention in Using Digital Wallet for Online and In-store Transaction: A Unified Theory of Acceptance and Use of Technology 2 Approach

Summary/Abstract: Generation Z is the future generation of our society and has the most interaction with technology. Their behavior intentions in utilizing technology have an important role in today’s most prominence financial technology, particularly related to digital wallet companies. The present research explored different factors affecting Generation Z’s behavior intention of digital wallet and its two different usages’: online transaction and in-store transaction. Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) were applied to explore factors related to digital wallet use. One hundred sixty-five respondents from Generation Z were involved in this research. Fourteen hypotheses were proposed and eight of them were accepted. For online transaction, social influence, performance expectancy, habit, and price value were found as significant factors affecting behavior intention. For in-store transaction, performance expectancy, hedonic motivation, habit, and price value were found as significant factors affecting behavior intention. Digital wallet companies need to focus on these significant factors in order to enhance their services.

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