Behavioral Intention to Use FinTech in Millennial Generation (Extension of TAM Model)

Authors

  • Yuhelmi Yuhelmi Universitas Bung Hatta
  • Daniati Puttri Universitas Bung Hatta
  • Ice Kamela Universitas Bung Hatta
  • Febriani Febriani Universitas Bung Hatta
  • Nadia Safitri
  • Nurhuda Nurhuda Universitas Bung Hatta

DOI:

https://doi.org/10.37301/jmubh.v19i1.24321

Keywords:

fintech; habit; perceived risk; trust; TAM

Abstract

This research aims to analyze the Behavioral Intention of the Millennial Generation in using FinTech as a payment platform and the factors that influence it by extending the TAM model. The extension variables of the TAM model are Trust, Habit, and Perceived Risk. The population in this study consisted of 521 Millennial generation respondents using purposive sampling. The analytical method used is the Structural Education Model (SEM) using Smart PLS. The research results found that the TAM model is a strong model for behavioral intentions to use FinTech, where Behavioral Intention to use FinTech is influenced by Perceived Ease of Use, Perceived usefulness, and Attitude. The findings for the extension variable are that Habit has a positive effect on behavioral intention to use FinTech, while Perceived Risk and Trust have no effect on behavioral intention or attitude in using FinTech

References

Aji, H. M., Berakon, I., & Md Husin, M. (2020). COVID-19 and e-wallet usage intention: A multigroup analysis between Indonesia and Malaysia. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1804181

Alkhowaiter, W. A. (2022). Use and behavioural intention of m-payment in GCC countries: Extending meta-UTAUT with trust and Islamic religiosity. Journal of Innovation and Knowledge, 7(4), 100240. https://doi.org/10.1016/j.jik.2022.100240

Armanditya, N., & Rahmiati, F. (2020). Use Intention of Fintech Services for E-Wallet Users: an Examination With an Extended Technology Acceptance Model. Proceeding of the International Conference on Family Business and Entrepreneurship, 1(1), 70–81. https://doi.org/10.33021/icfbe.v1i1.1628

Audina, M., Isnurhadi, & Andriana, I. (2021). Faktor yang Mempengaruhi Behavioral Intention Transaksi Keuangan Digital (E-Wallet). Media Riset Bisnis & Manajemen, 21(2), 99–116.

Baptista, G., & Oliveira, T. (2015). Understanding mobile banking: The unified theory of acceptance and use of technology combined with cultural moderators. Computers in Human Behavior, 50, 418–430. https://doi.org/10.1016/j.chb.2015.04.024

Bashir, I., & Madhavaiah, C. (2015a). Consumer attitude and behavioural intention towards Internet banking adoption in India. Journal of Indian Business Research, 7(1), 67–102. https://doi.org/10.1108/JIBR-02-2014-0013

Bashir, I., & Madhavaiah, C. (2015b). Trust, Social Influence, Self‐Efficacy, Perceived Risk and Internet Banking Acceptance: An Extension of Technology Acceptance Model in Indian Context. Metamorphosis: A Journal of Management Research, 14(1), 25–38. https://doi.org/10.1177/0972622520150105

Berakon, I., Aji, H. M., & Hafizi, M. R. (2022). Impact of digital Sharia banking systems on cash-waqf among Indonesian Muslim youth. Journal of Islamic Marketing, 13(7), 1551–1573. https://doi.org/10.1108/JIMA-11-2020-0337

Cabrera-Sánchez, J. P., Ramos-De-luna, I., Carvajal-Trujillo, E., & Villarejo-Ramos, Á. F. (2020). Online recommendation systems: Factors influencing use in E-commerce. Sustainability (Switzerland), 12(21), 1–15. https://doi.org/10.3390/su12218888

Cheng, Y. M. (2015). Towards an understanding of the factors affecting m-learning acceptance: Roles of technological characteristics and compatibility. Asia Pacific Management Review, 20(3), 109–119. https://doi.org/10.1016/j.apmrv.2014.12.011

Chiu, Y., & Iris, H. (2016). Fintech and Disruptive Business Models in Financial Products, Intermediation and Markets- Policy Implications for Financial Regulators. Journal of Technology Law & Policy, 21, 55–112. http://ssrn.com/abstract=2559504.

Damayanti, K. P., Lavianto, S., Agung, I. G., & Dwi, P. (2022). Analisis Behavioral Intention Dan Use Behavior Terhadap Pengguna Fintech Dana Menggunakan Metode Utaut 2. Jurnal Teknologi Komputer Dan Sistem Infomasi, 2022(5(3)), 191–199.

Davis, F. D., Bagozzi, R. P., & Warshaw, P. R. (1989). User Acceptance of Computer Technology : a Comparison of Two Theoretical Models *. Management Science, 35(8), 982–1003.

Fishbein, M. & Ajzen, I. (1975). Belief, attitude, attitude, intention and behavior: An introduction to theory of research. Reading, MA : Addison-Wesley Addison-Wesley, 578.

Gai, S. L., Cheng, J. Y.-J., & Wu, A. (2021). Board design and governance failures at peer firms. Strategic Management Journal, 42(10), 1909–1938. https://doi.org/10.1002/smj.3308

Gefen, D., Karahanna, E., & Straub, D. W. (2003). Trust and TAM in Online Shopping: An Integrated Model. MIS Quarterly., 27(1), 51–90.https://doi.org/10.1017/CBO9781107415324.004

Hafifah, L. L., Utami, N. W., & Dwi Putri, I. G. A. P. (2022). Analisis Faktor Yang Mempengaruhi Behavioral Intention Dan User Behavior Pada Fintech Shopeepay Menggunakan Model Unified Theory of Acceptance and Use of Technology (Utaut). Jurnal Akuntansi Bisnis, 15(2), 102–117. https://doi.org/10.30813/jab.v15i2.3574

Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121. https://doi.org/10.1108/EBR-10-2013-0128

Hassan, M. S., Islam, M. A., Sobhani, F. A., Nasir, H., Mahmud, I., & Zahra, F. T. (2022). Drivers Influencing the Adoption Intention towards Mobile Fintech Services: A Study on the Emerging Bangladesh Market. Information (Switzerland), 13(7), 1–16. https://doi.org/10.3390/info13070349

Kavitha, K., & Kannan, D. (2020). Factors influencing consumers attitude towards mobile payment applications. International Journal of Management, 11(4), 140–150. https://doi.org/10.34218/IJM.11.4.2020.015

Keni, K. (2020). How Perceived Usefulness and Perceived Ease of Use Affecting Intent to Repurchase? Jurnal Manajemen, 24(3), 481. https://doi.org/10.24912/jm.v24i3.680

Khoiriyah, I., Kusumawati, D. A., & Indriasari, I. (2020). Analisis Minat Bertransaksi Menggunakan Financial Technology (Fintech) Di Jawa Tengah. Stability: Journal of Management and Business, 3(2), 48–57. https://doi.org/10.26877/sta.v3i2.7783

Kumar, A., Dhingra, S., Batra, V., & Purohit, H. (2020). A Framework of Mobile Banking Adoption in India. Journal of Open Innovation: Technology, Market, and Complexity, 6(2), 2–17. https://doi.org/10.3390/JOITMC6020040

Kumar, S., & Yukita, A. L. K. (2021). Millennials Behavioral Intention in Using Mobile Banking: Integrating Perceived Risk and Trust into TAM (A Survey in Jawa Barat). Proceedings of the International Conference on Business and Engineering Management (ICONBEM 2021), 177, 210–217. https://doi.org/10.2991/aebmr.k.210522.028

Latan, H., & Noonan, R. (2017). Partial least squares path modeling: Basic concepts, methodological issues and applications. Partial Least Squares Path Modeling: Basic Concepts, Methodological Issues and Applications, 1–414. https://doi.org/10.1007/978-3-319-64069-3

Malaquias, R. F., & Hwang, Y. (2016). An empirical study on trust in mobile banking: A developing country perspective. Computers in Human Behavior, 54, 453–461. https://doi.org/10.1016/j.chb.2015.08.039

Malhotra, P. (2014). Factors affecting adoption of Internet Banking: A case study from India. Asia-Pacific Journal of Business, 5(2), 13–24.

Mandagi, C., Joyce Lapian, S., & Tumewu, F. J. (2021). Antecedent Fintech Continuance Intention in Manado (Case Study: Gopay). Jurnal EMBA, 9(4), 415–427.

Monica, F., & Japarianto, E. (2022). Analisa Pengaruh Perceived Ease of Use Dan Melalui Perceived Enjoyment Terhadap Behavior Intention Pada Digital Payment. Jurnal Manajemen Pemasaran, 16(1), 9–15. https://doi.org/10.9744/pemasaran.16.1.9-15

Mufingatun, M., Prijanto, B., & Dutt, H. (2020). Analysis of factors affecting adoption of mobile banking application in Indonesia: an application of the unified theory of acceptance and use of technology (UTAUT2). BISMA (Bisnis Dan Manajemen), 12(2), 88. https://doi.org/10.26740/bisma.v12n2.p88-105

Muñoz-Leiva, F., Climent-Climent, S., & Liébana-Cabanillas, F. (2017). Determinantes de la intención de uso de las aplicaciones de banca para móviles: una extensión del modelo TAM clásico. Spanish Journal of Marketing - ESIC. https://doi.org/10.1016/j.sjme.2016.12.001

Penney, E. K., Agyei, J., Boadi, E. K., Abrokwah, E., & Ofori-Boafo, R. (2021). Understanding Factors That Influence Consumer Intention to Use Mobile Money Services: An Application of UTAUT2 With Perceived Risk and Trust. SAGE Open, 11(3). https://doi.org/10.1177/21582440211023188

Perwitasari, A. W. (2022). The Effect of Perceived Usefulness and Perceived Easiness towards Behavioral Intention to Use Fintech by Indonesian MSMEs. The Winners, 23(1), 1–9. https://doi.org/10.21512/tw.v23i1.7078

Purba, M. A. (2020). Menakar Minat Mahasiswa Universitas Putera Batam Pada Penggunaan Produk Teknologi Finansial. Journal of Applied Managerial Accounting, 4(1), 132–141. https://doi.org/10.30871/jama.v4i1.1916

Putra, E. Y., & Salim, F. F. (2023). Analysis of Factors Affecting Behavioral Intention in Using Mobile Wallets in Batam City. Jurnal Maksipreneur: Manajemen, Koperasi, Dan Entrepreneurship, 12(2), 329. https://doi.org/10.30588/jmp.v12i2.1163

Putritama, A. (2019). The Mobile Payment Fintech Continuance Usage Intention in Indonesia Niat Penggunaan Berkelanjutan dari Pembayaran Seluler Fintech di Indonesia. Journal Economia: Reviews of Business and Economics Studies, 15(2), 243–258.

Rahman, H., & Nurlatifah, H. (2020). Analisis Pengaruh Perceived Ease of Use, Trust, Online Convenience terhadap Purchase Intention melalui Online Shopping Habits (Studi Kasus Pembelian Tiket Bioskop pada Aplikasi Gotix). Jurnal Al Azhar Indonesia Seri Ilmu Sosial, 1(1), 29. https://doi.org/10.36722/jaiss.v1i1.458

Ramzan, S., & Khan, M. . (2010). Dimension Reduction and Remedy of Multicollinearity using Latent Variable Regression Methods.pdf. In World Applied Sciences journal (Vol. 8, Issue 4, pp. 404–410).

Santoso, W., Sitorus, P. M., Batunanggar, S., Krisanti, F. T., Anggadwita, G., & Alamsyah, A. (2020). Talent mapping: a strategic approach toward digitalization initiatives in the banking and financial technology (FinTech) industry in Indonesia. Journal of Science and Technology Policy Management, 12(3), 399–420. https://doi.org/10.1108/JSTPM-04-2020-0075

Satoto, S. H., & Putra, H. N. K. (2021). The Effect of Financial Literacy and other Determinants on the Intention to Use Electronic Money: Consumer Behavior as a Variable Mediation. International Journal of Applied Business and International Management, 6(3), 23–34. https://doi.org/10.32535/ijabim.v6i3.1326

Shahzad, A., Zahrullail, N., Akbar, A., Mohelska, H., & Hussain, A. (2022). COVID-19’s Impact on Fintech Adoption: Behavioral Intention to Use the Financial Portal. Journal of Risk and Financial Management, 15(10). https://doi.org/10.3390/jrfm15100428

Silaya, M. A. (2022). Usefulness and the Risks of Fintech payment for SMEs in Ambon City. Media Trend, 17(1), 206–214. https://doi.org/10.21107/mediatrend.v17i1.14087

Sleiman, K. A. A., Juanli, L., Lei, H., Liu, R., Ouyang, Y., & Rong, W. (2021). User Trust levels and Adoption of Mobile Payment Systems in China: An Empirical Analysis. SAGE Open, 11(4). https://doi.org/10.1177/21582440211056599

Velicia-Martin, F., Cabrera-Sanchez, J. P., Gil-Cordero, E., & Palos-Sanchez, P. R. (2021). Researching COVID-19 tracing app acceptance: incorporating theory from the technological acceptance model. PeerJ Computer Science, 7(December 2019), 1–20. https://doi.org/10.7717/peerj-cs.316

Venkatesh, V., Thong, J. Y. L., & Xu, X. (2012). Consumer Acceptance And Use of Information Technology: Extending The Unified Theory of Acceptance and Use of Technology. Forthcoming in MIS Quarterly, Vol. 36, No. 1 (2012), Pp. 157-178, 36(1), 157–178.

Wallace, L. G., & Sheetz, S. D. (2014). Information & Management The adoption of software measures : A technology acceptance model ( TAM ) perspective. Information & Management, 51(2), 249–259. https://doi.org/10.1016/j.im.2013.12.003

Yahia, I. Ben, Al-Neama, N., & Kerbache, L. (2018). Investigating the drivers for social commerce in social media platforms: Importance of trust, social support and the platform perceived usage. Journal of Retailing and Consumer Services, 41(March 2017), 11–19. https://doi.org/10.1016/j.jretconser.2017.10.021

Yuhelmi., Dharma, S., Trianita, M., & Mulatsih, L. S. (2018). The Determinants of User Behavior of Computer Based Transaction Processing Systems : The Case of Minimarket Employees in Padang , Indonesia. International Journal of Engineering & Technology, 7(4(9)), 90–95. https://www.sciencepubco.com/index.php/ijet/article/view/20622

Yuhelmi, Trianita, M., & Dharma, S. (2019). The Extension of TAM Model in the Use of Point of Sale ( POS ) in Minimarkets in Padang , Indonesia. KnE Social Sciences, 3(14), 83–96. https://doi.org/10.18502/kss.v3i14.4300

Yuliana, P. D., & Aprianingsih, A. (2022). Factors involved in adopting mobile banking for Sharia Banking Sector using UTAUT 2. Jurnal Keuangan Dan Perbankan, 26(1), 184–207. https://doi.org/10.26905/jkdp.v26i1.6858

Downloads

Published

2024-01-29

Issue

Vol. 19 No. 1 (2024): Jurnal Manajemen Universitas Bung Hatta

Section

Articles

License

Copyright (c) 2024 Yuhelmi Yuhelmi, Daniati Puttri, Ice Kamela, Febriani Febriani, Nadia Safitri, Nurhuda Nurhuda

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with Jurnal Manajemen Universitas Bung Hatta agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in Jurnal Manajemen Universitas Bung Hatta. 
  2. The author holds the copyright of the submitted and published articles, with the understanding that articles are disseminated under the Creative Commons Attribution-ShareAlike 4.0 International License..
  3. The editor team is entitled to do the editing in accordance with the guidelines for writing or template in the Jurnal Manajemen Universitas Bung Hatta.

 

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.