Financial technology and consumer behavior; determinants of user perceptions of digital payment system adoption
DOI:
https://doi.org/10.33021/jaaf.v10i1.6475Keywords:
digital payment system, fintech, perceived risk, technology acceptance model, theory of planned behaviorAbstract
The primary objective of this research is to examine what drives individuals to adopt digital payment systems—one of the most critical components of fintech services—by drawing on an integrated conceptual framework that combines the technology acceptance model (TAM) and the theory of planned behavior (TPB). Specifically, the study examines how perceived usefulness (PU), perceived ease of use (PEU), perceived risk (PR), and attitude shape adoption behavior toward digital payment systems. A partial least square–structural equation modeling (PLS-SEM) approach was applied to a sample of 309 active digital payment users in the Ajattapareng Region, with data gathered through a combination of online and offline questionnaires and processed in SmartPLS via outer-model (measurement) and inner-model (structural) evaluation. Findings show that PU, PEU, and Attitude each exert a positive and significant influence on Adoption, whereas PR has a negative and significant direct influence on Adoption but no significant indirect influence through attitude; indicating that perceived risk functions mainly as a direct obstacle to adoption behavior rather than as a factor shaping attitudes. In addition, attitude was found to mediate the relationships between PU, PEU, and adoption, reinforcing the idea that usefulness and ease-of-use perceptions are central to encouraging the uptake of digital financial technology. Collectively, these results lend further support to the combined TAM–TPB model as applied to digital finance and offer practical guidance for fintech developers, regulators, and policymakers. Strengthening users' perceptions of usefulness and convenience, alongside robust risk mitigation and transaction-security guarantees, emerges as a key strategy for building a safe, inclusive, and sustainable digital payment ecosystem.
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