An evaluation of the e-payment initiative in Singapore

Abstract

This paper developed a proposed model through the synthesis of the technology acceptance model (TAM) to explain factors motivating Singaporeans to adopt e-payments. The definition of e-payments used in this paper focuses on 8 selected mobile wallets which are DBS Paylah!, OCBC PayNow, DBS PayNow, Apple Pay, Android Pay, Alipay, GrabPay and FavePay. This study is premised around the hypothesis that perceived ease of use (PEU) is the key motivating factor for e-payment adoption in Singapore. A snowball sampling technique was used to survey 83 respondents on their level of awareness, acceptance and adoption of e-payments. The results revealed that PEU plays a significant role but the availability of help (AV) is essential to complement PEU in determining the behavioural intention to use and actual system use, coupled with perceived usefulness (PU). The continual usage of e-payments is also largely affected by the influence of friends and family.