Do Small Medium Enterprises (SMEs) Need To Adopt E-wallet? A Study Post- Covid-19 Pandemic


SMEs are not deemed to be moving forward until they quickly implement e-payment systems into their operations. In today’s world, both online and in-person purchases are made via electronics. Many stores and malls currently provide digital payment options like QRIS (Quick Response Indonesia Standard), but few SMEs are willing to adopt it. Therefore, this research is important because during the Covid-19 pandemic, online shopping activities at e-commerce merchants for SMEs in Indonesia increased. Because SMEs must be able to adjust to situations, both during and after the pandemic by using E-Wallet as a form of payment, the results of this study can be taken into consideration by SMEs players to adopt e-wallet and make the move to digital. Based on earlier research used to develop the study’s research hypotheses, quantitative descriptive research was carried out. The Smart PLS program will be used to handle the data for 250 respondent populations dispersed across 5 regions of Indonesia. Based on the study’s findings, SMEs players may want to consider going digital and expanding their payment choices with secure, user-friendly e-wallets so that customers feel comfortable making payments.

Keywords: e-wallet, intention to adopt, perceived ease of use, perceived risk, promotion

[1] Yang M, Mamun AA, Mohiuddin M, Nawi NC, Cashless transactions: A study on intention and adoption of e-wallets. Sustainability. 2021.

[2] Do N, Tham J, Azam S, Khatib A. The effects of factors influencing on user behavior intention to use mobile payment: Evidence from Cambodia. International Journal of Data and Network Science. 2020;4(2):213-224.

[3] Li C, Mirosa M, Bremer P. Review of online food delivery platforms and their impacts on sustainability. Sustainability. 2020;12(14).

[4] UMKM Bisa Tertinggal Jika Tak Pakai Pembayaran Elektronik. 2018.

[5] Tobing A. Inilah Alasan Mengapa Bisnis UMKM Harus Pakai QRIS. 2021.

[6] Krisnawati M, Wienadi J, Wiradinata T. The effect of consumer trust and perceived risk on e-Wallet adoption: Consideration for technology startup entrepreneurs. Jurnal Entrepeneur dan Entrepeneurship. 2021;10(2):111-118

[7] Devita D. Siapakah Aplikasi E-Wallet Terpopuler di Indonesia? 2019.

[8] Annur CM. Survei: OVO Rajai Pangsa Pasar E-Wallet Indonesia pada 2020. 2021.

[9] William G, Tjokrosaputro M. Persepsi Kegunaan Dan Promosi Untuk Memprediksi Niat Penggunaan E-Wallet: Sikap Sebagai Variabel Mediator. J Muara Ilmu Ekon dan Bisnis. 2021;5(1):74-88.

[10] Ming KL, Jais M, Wen CC, Zaidi NS. Factor affecting adoption of E-wallet in Sarawak. International Journal of Academic Research in Accounting, Finance and Management Sciences. 2020;10(2):244-256.

[11] Kiew JP, Toh ETL, Ngian ET, Law SHC. Perceived trust, convenience and promotion for the adoption of e-Wallet. International Journal of Academic Research in Business and Social Sciences. 2022;12(9).

[12] Yang M, Mamun A Al, Mohiuddin M, Nawi NC, Zainol NR. Cashless transactions: A study on intention and adoption of e-Wallets. Sustainability. 2021;13(2).

[13] Kasilingam D, Krishna R. Understanding the adoption and willingness to pay for internet of things services. International Journal of Consumer Studies. 2022 Jan;46(1):102-31.

[14] Wiradimaja MF, Rikumahu B. Pengaruh Faktor Risiko Dan Faktor Kepercayaan Terhadap Adopsi Electronic Wallet Menggunakan Model Tam (studi Kasus: E-wallet Ovo Di Kota Bandung). eProceedings of Management. 2019 Aug 1;6(2).

[15] Abrahão, Ricardo de Sena; Stella NaomiMoriguchi DF. Intention of adoption of mobile payment: An analysis in the light of the unified theory of acceptance and use of technology (UTAUT). RAI Rev Adm e Inovação. 2016;13(3):221–230.

[16] Hallikainen H, Paesbrugghe B, Laukkanen T, Rangarajan D, Gabrielsson M. How individual technology propensities and organizational culture influence B2B customer’s behavioral intention to use digital services at work? In 2017. p. 4577– 4585.

[17] Al-Mamary YHS, Shamsuddin A, Aziati AHN. Investigating the key factors influencing on management information systems adoption among telecommunication companies in Yemen: The conceptual framework development. International Journal of Energy Information and Communications. 2015;6(1):59–68.

[18] Aydin G, Burnaz S. Adoption of mobile payment systems: A study on mobile wallets. Journal of Business, Economics and Finance. 2016;5(1):73–92.

[19] Priambodo S, Prabawani B. Pengaruh Persepsi Manfaat, Persepsi Kemudahan Penggunan, Dan Persepsi Risiko Terhadap Minat Menggunakan Layanan Uang Elektronik (Studi Kasus pada Masyarakat di Kota Semarang). Jurnal Ilmu Administrasi Bisnis. 2016;5(2):127–135.

[20] Chawla D, Joshi H. Role of Mediator in Examining the Influence of Antecedents of Mobile Wallet Adoption on Attitude and Intention. Global Business Review. 2020.

[21] Shankar A, Datta B. Factors affecting mobile payment adoption intention: An Indian perspective. Global Business Review. 2018;19(3).

[22] Karimah RU. Pengaruh Reputasi Toko dan Persepsi Kemudahan Terhadap Minat Beli Online Pada Situs Dengan Kepercayaan Sebagai Variabel Mediasi (Studi Pada Mahasiswa STIE Putra Bangsa Kebumen). STIE Putra Bangsa; 2018.

[23] Hafiz MA. Pengaruh Persepsi Manfaat Dan persepsi Kemudahan Penggunaan Terhadap niat Penggunaan Mobile commerce (Survey Pada Pelaku Usaha Di Sentra Tanaman Hias Cihideung Kab. Bandung Barat). Universitas Komputer Indonesia; 2019.

[24] Kusumawati I, Hartono S, Kustiyah E. Kemudahan, Kepercayaan Dan Persepsi Resiko Terhadap Keputusan Pembelian Pengguna Dompet Digital Ovo Di Surakarta). Journal of Management Small and Medium Enterprises. 2020;11(1).

[25] Mauludiyahwati S. Pengaruh Kepercayaan, Keamanan, Kualitas Pelayanan Dan Persepsi Risiko Menggunakan E-Commerce Terhadap Keputusan Pembelian Online (Survei Pada Konsumen Universitas Negeri Yogyakarta; 2017.

[26] Jesuthasan S, Umakanth N. Impact of behavioural intention on E-Wallet usage during Covid_19 period: A study from Sri Lanka. Sri Lanka Journal of Marketing. 2021;7(2).

[27] Sati RAS, Muhammad Ramaditya. Pengaruh Persepsi Manfaat, Persepsi Kemudahan Penggunaan, Kepercayaan Dan Persepsi Risiko Terhadap Minat Menggunakan EMoney (Studi Kasus Pada Konsumen Yang Menggunakan Metland Card). STIE Indonesia (STEI) Jakarta; 2020.

[28] Soto-Acosta P, Molina-Castillo FJ, Lopez-Nicolas C, Colomo-Palacios R. The effect of information overload and disorganisation on intention to purchase online: The role of perceived risk and internet experience. Online Information Review. 2014;38(4):543– 561.

[29] Martins C, Oliveira T, Popovič A. Understanding the Internet banking adoption: A unified theory of acceptance and use of technology and perceived risk application. International Journal of Information Management 2014;34(1):1–13.

[30] Natarajan T, Balasubramanian SA, Kasilingam DL. Understanding the intention to use mobile shopping applications and its influence on price sensitivity. Journal of Retailing and Consumer Services 2017;37:8–22.

[31] Armstrong G, Adam S, Denize S, Kotler P. Principles of marketing. 6th ed. Australia: Pearson; 2014.

[32] Kotler P, Keller KL. Marketing management 16 edition. 16th ed. Pearson Prentice Hall; 2016.

[33] Suliyanto. Metode Penelitian Bisnis untuk Skripsi. Yogyakarta: Andi; 2018.

[34] Hair Jr JF, Hult GTM, Ringle CM, Sarstedt M. A primer on partial least squares structural equation modeling (PLS-SEM). Sage publications; 2021.

[35] Putri DE, Sinaga OS, Sudirman A, Augustinah F, Dharma E. Analysis of the effect of perceived ease of use, perceived usefulness, trust, and cashback promotion on intention to use E-wallet. International Journal of Economics, Business and Management Research. 2022;6(11).