Empirical Study on Intention to Use of Touch'n Go e-Wallet among Millennial in Malaysia during Covid-19 Endemic

The Covid-19 epidemic has wreaked havoc on the global economy indeed, Malaysia was unavoidable from this. Nevertheless, this has created a new transformation and renovation for the FinTech industry to develop tremendously. The users of digital wallets are anticipated to grow and hastened the shift from physical payment to digital payment. Touch' n Go e-wallet is one of the FinTech innovation platforms that growing quickest rate ever in Malaysia's emerging market, owing to the upward demand for contactless payments throughout Southeast Asia due to the epidemic. The adoption of digital wallets only grew extensively during the Covid-19 pandemic periods in Malaysia. Hence, the main purpose of this study is to determine the predictors that influence the intention to use Touch' n Go e-wallet among Millennial in Malaysia, particularly during the Covid-19 endemic. This study has proposed to extend the TAM model (perceived usefulness, perceived ease of use) with perceived risk and satisfaction predictors. A sample of a total of 150 millennial in Malaysia who use Touch' n Go e-wallet to participate in the survey. Millennial account for approximately one-third of Malaysia's population and roughly 50 percent of the labour force in Malaysia. The hypotheses were further carried out by employing the ordinary least squares regression analysis. The findings revealed that among Malaysia's millennials, perceived ease of use and consumers satisfaction have a substantial impact on their desire to use Touch' n Go e-wallets app. In order to increase the usage rates of digital payments transaction, the digital wallet service providers in Malaysia must focus on the usability and potential risks that might occur during the transactions are held. More so, a good customer experience will lead to a satisfactory level in using the e- wallet of Touch' n Go. This empirical study provides a model for government to stimulate and foster digital payment in the coming years.