Assessing the adoption of digital payment systems among consumers in Zamboanga City, Philippines using the extended technology acceptance model /
Patrick Louis G. Modillas; Imee Marie A. Acopiado, adviser
- 2023
- 94 leaves
Thesis
The lockdown imposed due to COVID-19 pandemic restrictions paved the way for fortifying the establishment of Digital Payment Systems (DPS). The study aims to understand the behavioral intention of consumers in Zamboanga City to adopt DPS by analyzing latent constructs related to it. Additionally, the study aims to identify the demographic characteristics of DPS adopters. The Technology Acceptance Model (TAM) served as the base conceptual framework, which demonstrates the relationship between the variables that affect, the behavioral intention to adopt DPS. This model was processed using Structural Equation Modelling (SEM), enabling a quantitative assessment of the relationships between observed and latent variables. The data collection was conducted through the period of March 30 to April 18, 2023. The study gathered 319 qualified respondents that were selected through convenience sampling. Dominant consumers of DPS can be found in ages 21 to 30, while the mean age of the respondents is 30.7. Additionally, access to DPS platforms is greater in the older age groups. Data shows that the primary uses of DPS are to pay bills, food delivery, and online shopping. Based on the results of the SEM analysis, the intention to use (INT) is directly influenced by the attitude (ATT), which is measured through perceived ease of use (PEOU) and perceived usefulness (PU). Taking these talent constructs into account, DPS providers should focus on improving and strengthening significant observed variables that enable these latent constructs, such as social influence, security, convenience, and learning curve. The acceptance of DPS by consumers facilitates greater financial literacy, leading to increased financial inclusion among many consumers. Policymakers are encouraged to increase their digitalization in the field of financial technology to promote a more sustainable and financially inclusive economy for every consumer.