Analysis of Interest in Using GoPay Electronic Wallet in Students of the Faculty of Economics and Business UPN “Veteran” East Java

Intan Sulistyowati¹, Rizky Dermawan²

^1,2 Management Studies Program, Faculty of Economics and Business, Universitas Pembangunan Nasional “Veteran” Jawa Timur

ABSTRACT: The utilization of information technology is crucial in the present day. The advent of original and creative technology-based business ideas, such electronic payment tools that use technical advancements. Gojek is one company that offers electronic wallet services, indicative of this rapid development.

Purpose: This research aims to determine the effect of percieved usefulness, perceived ease of use and perceived security on interest in using the GoPay digital wallet on students of the faculty of economics and business of UPN “Veteran” East Java.

Patients and methods: The analysis method used is a method test on smart pls

Results: perceived usefulness can contribute to interest in using, perceived ease of use can contribute to interest in using and perceived security can contribute to interest in using.

Conclusion: Based on the results of this study that the variables of perceived usefullnes, perceived ease of use, perceived security are said to have an effect and are significant to the interest in using the GoPay digital wallet.

KEYWORDS: Perceived Usefulness, Perceived Ease Of Use, Perceived Security, Interest In Using

INTRODUCTION

The utilization of information technology is crucial in the present day. Because technology supports daily activities, its fast progress has a significant impact on the pattern of human existence. The creation of inventive and imaginative technology-based company concepts is proof of this quick progress. High technology development also has an impact on the financial industry’s growth, making it more contemporary and efficient. Indonesia is not an exception to this rule, since it must be able to keep up with the rapid advancements in technology. The introduction of technologically advanced electronic payment methods is one of these advancements. An account holding money in an internet program that users utilize to conduct non-cash transactions or payments is known as an electronic wallet. Gojek is one business that offers services for digital wallets.

GoPay is one of the server-based electronic money banks or e-wallets presented by PT Aplikasi Karya Anak Bangsa (Gojek). The purpose of its presence in Indonesia is to make it easier for its users to carry out freedom of transactions. Many benefits and uses of the GoPay e-wallet include making various kinds of payment transactions for all services available in the Gojek application, restaurants, supermarkets, e-commerce, to the purchase of credit and user bills / installments.

GoPay is one of the most frequently used digital wallets in Indonesia. There were 88% of respondents in the Populix survey (2022) who used the GoPay digital wallet, compared to 83% of Dana users and 79% of Ovo users. Meanwhile, respondents who used other digital wallets such as ShopeePay and LinkAja were recorded at 76% and 30%. Then, there are a small number of respondents who use iSaku, OCTO Mobile, Doku, Sakuku and JakOne Mobile digital wallets (Populix, 2022).

Perceived security is the extent to which people or users believe that the technology is safe to use. (Rizki Budi Ericaningtyas, 2021). If someone believes that a system can help everything he needs and can protect things that are considered important, he will feel that the system is reliable (Fitriana & Wingdes, 2017). Security in electronic money is still very vulnerable to fraud and other crimes. Therefore, this is a challenge for electronic money issuers to create an electronic money system that is safe from crime. That way, the more secure an electronic money system is, the more interest in using it will increase.

GoPay has a level of security that is still vulnerable, this can be seen from several cases that have been experienced by its users. Perceived security must be considered by the company in order to increase user confidence in making transactions. It is also a benchmark for someone before using a technology. When technology provides a high level of data security, consumers will feel they are protected so that there are no doubts about using the technology.

In addition to security, the usefulness and ease of use factors also influence people’s interest in transacting using digital wallets. The study “Consistency That Leads: E-Wallet Industry Outlook 2023” identifies GoPay as the digital wallet platform that users have used the most often during the previous five years. GoPay has been utilized by most digital wallet users (71%), and 58% of them are currently using it. The study’s findings also demonstrate that 84% of consumers are satisfied with GoPay users. In the research, the tendency to use digital wallets has evolved from mere payments to money management such as money transfers, providing transaction history, and pay later or paylater features. Where as many as 71% of respondents admitted to actively using digital wallets for various financial transactions.

Based on the research above, GoPay is the digital wallet most chosen by users to carry out various kinds of transactions on digital wallets. This is in line with the various reviews shared by users in the assessment & review column on the GoPay application. There are many user reviews that are satisfied using the Gopay digital wallet. Users feel satisfied using GoPay because the features are complete and GoPay can connect everywhere because there are many merchants who work together, so users feel transactions are faster and easier (App Store, 2023).

One of the many elements that could affect someone’s interest in using an electronic wallet is the perceived usefulness of doing so. What people mean when they talk about the perceived usefulness of a system is their confidence in its ability to boost their performance. According to Khoiriyah et al., (2023) Perceived usefulness are the extent to which people or users believe that the technology is very useful for improving their performance. The benefit obtained by users of technology systems or products is that their performance is increasing, meaning that they are more productive and effective and efficient at work. When the product has benefits that are felt to be very helpful for transaction purposes, it is not impossible that someone will be interested in using the e-wallet product.

Perceived ease of use refers to the notion that using an information technology system will not be arduous or require significant effort. Perceived ease of use, as defined by Wardiani and Purwanto (2022), refers to the extent to which consumers perceive a new product or service to be superior to its predecessor and the extent to which they feel the innovation is simple to understand and use.

Someone believes that using an application is certainly able to provide an improvement in their performance and believes that using a system will give them freedom from effort (Hasan 2020). People tend to choose and like things that are instant and easy rather than having to work harder to get or use something (Aditiansa & Dermawan, 2022).  This might mean that a person’s perception of how easy it is to use a technology is measured by how clear-cut they consider it to be, how little effort it takes to utilize, and how simple it is to run.

Interest in utilising may be influenced by several variables, including perceived utility, perceived simplicity of use, and perceived security. In their study, Priambodo and Prabawani (2016) propose that the perception of usefulness has an impact on the level of interest in adopting a certain product or service. Aritonang & Arisman (2018) propose in their study that the perception of ease of use has an impact on the level of interest in utilising. According to Obsika’s study conducted in 2022, there is a correlation between the perception of security and the level of interest in utilising.

The researchers performed a study to examine how factors such as perceived usefulness, perceived ease of use, and perceived security influence the degree of interest in using. The objective of this study is to ascertain the impact of perceived usefulness, perceived ease of use, and perceived security on the degree of enthusiasm for the GoPay electronic wallet.

LITERATURE REVIEW

Perceived Usefulness

Fitriyanti et al., (2019) characterizes perceived usefulness as a person’s conviction that a system or piece of technology may help them perform better. When someone thinks the system is helpful, they will utilize it; when they think it’s not so helpful, they won’t use it. According to Ericaningtyas, there are 3 indicators of perceived Usedulnes, namely: 1. The payment transaction process is faster, 2. Effective work, 3. Increase productivity.

Perceived Ease of Use

Perceived ease of use, as defined by Ahmad & Pambudi (2013), pertains to an individual’s view that using an information technology system will not be arduous or demanding, and that the system is readily comprehensible and accessible to all users. According to Hasan (2020), there is a belief that using an application may really enhance performance and give individuals with the flexibility to alleviate effort. Ericaningtyas identifies three factors that determine the perceived ease of use: 1. Simple to acquire 2. Adaptable in application 3. Convenient for use at any given time and location.

Perceived Security

Ramesh et al. (2016) define perceived security as the potential for economic difficulties resulting from issues such as data sources or networks being compromised, data manipulation, denial of service attacks, fraudulent activities, misuse of authority, or other similar risks. If someone believes that a system can help everything he needs and can protect things that are considered important, he will feel that the system is reliable (Fitriana & Wingdes, 2017). According to Raman in Ariani (2017) there are 2 indicators of perceived security, namely: 1. Security guarantee 2. Data confidentiality.

Interest in Using

According to Kotler & Kevin (2012) interest in using is an interest in using or buying a product that arises after receiving stimulation or encouragement from the product being viewed. Meanwhile, according to Chandra (2016) interest in using is a situation where someone will pay attention to a need in the activity to be carried out so that they will not pay attention to the next process to be carried out. According to Fatonah & Hendratmoko (2020) there are 3 indicators of interest in using, namely: 1. Will transact 2. Will recommend 3. Will continue to use.

 RESEARCH METHOD

This study uses primary data, which is data collected directly from individual respondents through the distribution of questionnaires to students at the UPN “Veteran” East Java Faculty of Economics and Business. The research is quantitative in character. utilizing a hundred-person sample. Using smart pls, the hypothesis was evaluated in order to meet the study objectives.

RESULTS

Outer Model with factor loading, Path Coefficient and R-Square

The magnitude of the factor loading value is shown above the arrow that connects the variable and the indicator in the illustration above. The path coefficients, indicating the strength of the relationship between the exogenous and endogenous variables, are shown above the arrow linking them. The R-squared value, included inside the endogenous variable circle (the variable representing Interest in Using), is likewise observable.

The estimate results for all indicators indicate high convergent validity, as seen in the accompanying outer loading table. The table presents factor loadings (from the original sample) that are greater than 0.50 and/or statistically significant (with T-Statistic values exceeding the Z value α = 0.05 (5%) = 1.96) for all reflective indicators associated with the variables of perceived usefulness (X1), perceived ease of use (X2), perceived security (X3), and interest in using (Y).

Average variance extracted and Composite Reliability

This study’s reflecting indices include the following independent variables: interest in using, perceived usefulness, perceived ease of use, and perceived security. One way to display the amount of variation in the indices held by the latent components is by using the Average Variance Extracted (AVE) number. When the convergent AVE is more than 0.5, it means that the potential factors are very genuine. For each factorial construct in the reflecting index factor, the Average Variance Extracted (AVE) number may be seen. If the absolute value of each construct is more than 0.5, it is said to be in excellent form.

The composite reliability value is used to quantify construct reliability. An indicator is considered consistent in measuring the latent variable if the composite reliability value is 0.70, which indicates that the construct is realible.

The test outcomes indicate that perceived utility, perceived ease of use, perceived security, and interest in using all have AVE values more than 0.5, which suggests their validity.  A composite reliability score greater than 0.70 consistently suggests that the latent variable being measured is reliable and trustworthy. The test results indicate that the constructs of interest in utilising, perceived utility, perceived ease of use, and perceived security have a composite reliability value more than 0.7.

Structural Model Testing Results (Inner Model)

The goodness of fit model test, often known as the R-square value, is used to evaluate the adequacy of the structural model. Inner model testing is assessed by the R-square value in the latent variable equation, which measures the degree to which the exogenous variables in the model can account for the variations in the endogenous variables.

The value of R is 0.608758.  The criteria of perceived utility, perceived ease of use, and perceived security together constitute 60.87% of the total, whilst other aspects not examined in this research make up the remaining 39.13%.

D.        Hypothesis Testing

Source: PLS Processed Data (2023)

From the table above, it can be concluded that the hypothesis which states:

Hypothesis 1 posits that Perceived Usefulness has a favorable influence on Interest in Using. The hypothesis is substantiated by a path coefficient of 0.246887 and a T-statistic value of 3.662214, surpassing the crucial threshold of 1.96 (derived from the Zα = 0.05 table). Furthermore, the P-value of 0.000 is below the threshold of 0.05, which signifies statistical significance and verifies the presence of a positive association.

Hypothesis 2 posits that Perceived Ease of Use has a favorable influence on Interest in Using. The hypothesis is substantiated by a path coefficient of 0.437106 and a T-statistic value of 5.140724, surpassing the crucial threshold of 1.96 (derived from the Zα = 0.05 table). Furthermore, the P-value of 0.000 is below the significance threshold of 0.05, suggesting statistically significant and positive results.

Hypothesis 3 posits that Perceived Security has a favorable influence on Interest in Using. The route coefficient is 0.364576, and the T-statistic value is 4.353011. The T-statistic value exceeds the crucial value of 1.96 (derived from the Zα = 0.05 table), showing statistical significance. The obtained P-value of 0.000 is below the significance threshold of 0.05, providing more evidence to support the substantial positive results.

DISCUSSION

The Effect of Perceived Usefulness on Interest in Using

The findings of hypothesis testing indicate that perceived usefulness has a statistically significant and favorable impact on interest in use. This situation shows that perceived usefulness is an aspect that affects the interest in using electronic wallet users. This illustrates that if a user feels the various benefits of a electronic wallet, then that user will be interested in using it.

The findings of this investigation are consistent with those of other studies by Rahmawati (2021), Syukriyyah and Karyaningsih (2023), and Permatasari and Yunita (2023), which similarly found a strong and positive correlation between interest in using and perceived usefulness. This demonstrates that users are more interested in using  electronic wallets when they provide more advantages.

The Effect of Perceived Ease of Use on Interest in Using

According to the results of the hypothesis test, interest in using is significantly influenced by perceived ease of use. This instance demonstrates how perceived ease of use influences consumers’ interest in using electronic wallets. This demonstrates that a user will be inclined to utilize a digital wallet if they perceive ease of use.

The findings of this investigation are consistent with other studies by Abrilia (2020), Noviyanti and Erawati (2021), and Nurvitasari and Dwijayanti (2021), which similarly found a statistically significant positive correlation between perceived ease of use and interest in using. This demonstrates that users are more interested in using electronic wallet the more convenient they are.

C.    The Effect of Perceived Security on Interest in Using

According to the results of the hypothesis test, interest in using is significantly influenced by perceived security. This instance demonstrates how perceived security influences people’s desire to utilize digital wallets. This demonstrates that a user will be inclined to utilize a digital wallet if they believe it to be secure and protects their personal information.

The study’s findings are consistent with earlier studies by Khoiriyah et al. (2023), Tirta (2023), and Silitonga (2022), which similarly found a strong and positive correlation between users’ interest in using and their perceived security. This demonstrates that users are more interested in using electronic wallet the more convenient they are.

CONCLUSION

The findings of the tests and the background information presented here lead us to believe that three factors the perceived usefulness, the perceived ease of use, and the perceived security contribute to the interest in using.

Suggestions for future researchers so that they can provide other variables such as perceived trust, service quality and so on which are thought to affect interest in using.

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