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The utilization of e-money in Indonesia has surged, propelled by the expansion of digital payment platforms. Despite their growing prevalence, the dynamics of e-money acceptance within urban environments remain underexplored. This study innovatively extends the Technology Acceptance Model (TAM) by incorporating Perceived Security as a new variable, alongside traditional factors such as Perceived Usefulness, Perceived Ease of Use, Attitude Toward Using, Behavioral Intention to Use, and Facilitating Condition. The research focuses on Padang City, a representative urban landscape, where data was collected from 201 valid respondents through online platforms. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The integration of Perceived Security is a novel aspect of this study, reflecting its crucial role in the contemporary urban context of e-money utilization. Results reveal significant relationships among the studied variables, although the impacts of Facilitating Condition on Perceived Ease of Use and Perceived Usefulness on Behavioral Intention to Use were not supported. The findings underscore that positive attitude toward e-money significantly boost behavioral intentions to use it, primarily influenced by security perceptions and ease of use. These insights have substantial implications for policymakers and businesses focused on enhancing e-money adoption in urban settings. The study highlights the necessity of addressing user perceptions, particularly security, to foster broader acceptance. The limited influence of Facilitating Conditions suggests that improvements in infrastructure must be coupled with efforts to enhance user trust and ease of interaction with e-money platforms. This research contributes to the field by providing a deeper understanding of the factors driving e-money acceptance in urban areas, guiding targeted strategies for digital financial inclusion.
Utomo et al. (Tue,) studied this question.