Factor Influencing Continuation Intention of Using Fintech from the Users’ Perspectives: Testing of Unified Theory of Acceptance and Use of Technology (UTAUT2)

Abstract

Fintech adoption has risen significantly in its use and acceptance in Malaysia, as 84.2% out of the total population of 32.7 million in Malaysia are currently Internet users. The Fintech system has been providing greater benefits to users more effectively and efficiently in this fast-paced era, especially with the collaboration of three enormous e-wallet companies (e.g., Touch’n Go, Boost, and Grab). However, numerous studies have indicated that perceived technology security is a potential determinant that impacts continuation intention due to the uncertainties and trust issues of using a particular technology. Therefore, this study aims to investigate the factors that contributed to the continuation intention of using Fintech applications from the user’s perspective. The research uses the Unified Theory of Acceptance and Use of Technology (UTAUT2) to guide the study by including perceived technology security to expand the UTAUT2 theory. The study applied a quantitative (survey) design and 366 valid fintech users were secure as the respondents through purposive sampling. The results of the study indicated that performance expectancy, facilitating conditions, hedonic motivation, and habit have a positive and significant relationship with the continuance intention of using the Fintech applications. However, social influence and perceived technology security were not the determinants that contributed to the continuance intention of Fintech applications. Conclusion, implications, and future research suggestions were also discussed.

Keywords

• continuation intention
• fintech applications
• perceive technology security
• unified theory of acceptance and use of technology 2
• user’s perspective