The Influences of Reference Groups Towards the Usage of E-Wallet Payment Systems

Abstract

This chapter investigates how the three referent groups (peers, parent, media) of subjective norms (SN) influence the intention of millennials to adopt e-wallets. This study is supported by the theory of planned behavior (TPB) and stimulus-organism-response (SOR) framework. A total of 215 usable responses were obtained and analyzed using SPSS 25 and SmartPLS 3.2.6. The data is collected using a self-administered survey (Lancaster Qualtrics) and distributed randomly using the snowball sampling technique. The results indicate that the decomposition of SN has a significant relationship towards the intention of millennials to adopt e-wallets. This chapter also provides useful insights on what are the other factors that would build the intention of millennials towards the usage of e-wallets. Moreover, TPB along with the SOR framework supports the findings and provides better credibility to this study. This chapter concludes that brands should leverage more capital on media advertisements rather than peer referrals if they want to capture a larger market.