Abstract:
In recent years, due to advancements in financial technology, there has been a
considerable growth in cashless transactions. Most consumers are moving away from
cash-based transactions to cashless transactions as fin-tech solutions such as e-wallet.
There were problems in cash-based transactions like inefficient, insecure, tempting and
even with the covid situation using cash for transaction makes the people insecure with
the health etc. The present empirical study aimed to investigate the significant
predictors of intention on e-wallet adoption and obstacles. Therefore the main
objectives are to examine the factors that influence in adoption to use E-wallets by
university academics in Sri Lanka, identify which factors from identified factors affect
more in adaption to use e-wallet by academics and to determine the obstacles that affect
to use of e-wallets by Underpinning Theories of TAM, UTAUT and UTAUT2. The
model was tested empirically among 187 government University academics using a
structured questionnaire to carry out the study further; five variables are considered for
the research framework of this study which is namely Perceived Ease of Use, Perceived
Usefulness, Social Influence, Trust, Environment Concern which are used to measure
the multidisciplinary factors and its impacts on factors affected in Adoption to the E wallet. The present study follows the quantitative approach to gathering data from
respondents. This study adopted a practical research design to the online survey
method. The sample in this study is University academics with a total sample of 187
respondents; collecting data through questionnaires using a Likert scale with analysis
techniques using correlation and regression analysis with the help of SPSS 26. Results
of the study reveal that there is a high level of correlation between PU towards the
Adoption to use E-wallet and a moderate positive correlation between PEOU, TR, EC
towards the Adoption to use E-wallet as well as a low positive correlation between SI
towards the adaption to use E-wallet. Hypothesis testing shows that Perceived Ease of
Use, Perceived Usefulness, Trust, Environment concerns have a high impact in
Adoption to use E-wallet while Social Influence shows an insignificant impact in
Adoption to use E-wallet. As a developing country, e-wallet provides the latest digital
payment avenues to users while offering bankers and service providers exclusive
opportunities to market their products and services by understanding the latest
perception patterns and behaviours of the potential users.
