Financial Literacy: Study Based on Perceptions of E-wallet Users in Indonesia on Social Media

DOI

10.2991/978-2-38476-176-0_6How to use a DOI?

Keywords

E-wallet; Financial Literacy; Topic Modeling; Latent Dirichlet Allocation

Abstract

Over the last several decades, technological advancement has resulted from a significant shift in customer habits and preferences, such as a cashless society. These tendencies support the massive growth of e-wallets such as ShopeePay and OVO. To communicate their services to the community of the two e-wallets in Indonesia, Instagram is one of the primary social media platforms and gives users freedom to express their perceptions. Public perception related to users of e-wallet applications on social media can reflect public awareness of their financial condition and financial awareness that can be attributed to financial literacy. This study captures customer perception by mining their Instagram comments about their e-wallet experience and relating it to financial literacy. About 24.722 rows of comments from January to June 2021 are processed and analyzed using topic modeling - Latent Dirichlet Allocation (LDA) approach. The outcome demonstrates that Indonesian society on Instagram has reflected five characteristics related to financial literacy, which consist of how customers gather financial information, how customers learn about available resources for assistance, how customers improve their financial situation, how they improve their knowledge and confidence about financial services institutions and products (including financial products and services’ features, benefits and risks, rights and obligations), and how they improve their skills in using financial products and services. Public perception about e-wallets on social media platforms paints an image of financial literacy.

Copyright

© 2023 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  - Helmi Adiningtyas
AU  - Tri Widarmanti
AU  - Aldilla Iradianty
PY  - 2023
DA  - 2023/12/31
TI  - Financial Literacy: Study Based on Perceptions of E-wallet Users in Indonesia on Social Media
BT  - Proceedings of the 2nd UPY International Conference on Education and Social Science (UPINCESS 2023)
PB  - Atlantis Press
SP  - 33
EP  - 41
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-176-0_6
DO  - 10.2991/978-2-38476-176-0_6
ID  - Adiningtyas2023
ER  -