Exploring the Factors Influencing the Intention to Adopt the Contactless Payments in Post-Covid 19 in Malaysia

DOI

10.2991/978-94-6463-666-6_7How to use a DOI?

Keywords

Contactless Payments; Perceived Ease of Use; Digital Financial Literacy; Social Influence; Perceived Risk

Abstract

After the Covid 19 pandemic, automation and digitization technologies have become widely accepted, particularly from millennials (Gen Y) and Gen Z. It is anticipated that Malaysia will transition to a cashless society by 2030, owing to its convenience and security. To achieve that goal, there is a need to rise the adoption rate among Malaysians. The aim of this study is to examine the factors that influence Malaysians’ intention to adopt contactless payments. Specifically, the study emphasized on perceived ease of use, digital financial literacy, social influence, and perceived risk. A simple random sampling technique was employed to conduct a survey in Ipoh, Perak. A total of 400 respondents participated in the data collection process, which took place between June and July of 2023. Pearson correlation and multiple linear regression analyses were performed using IBM SPSS Statistics 26. The results demonstrated that respondents were more likely to choose contactless payments when they considered the process was simple, clear-cut, and flexible. The respondents’ readiness to accept new technologies was also found to be influenced by their peers (i.e., family, relatives, or friends). However, digital financial literacy and perceived risk are not significant factors. This study showed that people prioritize convenience over concerns about potential risks. Nevertheless, the rising number of scams, fraud, and data breaches remains a concern for some Malaysians. Since contactless payments are susceptible to changes in consumer behavior and technology improvements, continuous research is necessary.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Tan Suang Sin
AU  - Cheah Zhen Han
AU  - Cheong Soon Fai
AU  - Lim Zhi Xuan
AU  - Ng Hui Ning
AU  - Ting Ka Xi
PY  - 2025
DA  - 2025/03/17
TI  - Exploring the Factors Influencing the Intention to Adopt the Contactless Payments in Post-Covid 19 in Malaysia
BT  - Proceedings of the 12th International Conference on Business, Accounting, Finance and Economics (BAFE 2024)
PB  - Atlantis Press
SP  - 112
EP  - 133
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-666-6_7
DO  - 10.2991/978-94-6463-666-6_7
ID  - Sin2025
ER  -