Adoption of E-Payment Payment System for MSME Consumers Solo Market Fest
Published:
2026-03-30Downloads
Abstract
Analyzing the adoption of e-payment systems is essential to identify the factors that encourage consumers to utilize these payment methods. This study examines consumer behavior to determine the factors influencing the adoption of e-payment systems. The research is grounded in the Technology Acceptance Model (TAM) and consumer behavior theory, emphasizing the significance of perceived ease of use, security, business expectations, social influence, and consumer motivation in the decision-making process for adopting new technology. A quantitative approach was employed, utilizing multiple linear regression analysis on cross-sectional data processed through SPSS software. Primary data were collected via questionnaires distributed at the Solo Market Fest from April 14-19, 2023. The study's findings indicate that ease of use, security, business expectations, social influence, and motivation to purchase second-hand goods positively and significantly impact the adoption of e-payment systems by MSME consumers at the Solo Market Fest. In contrast, hedonism was found to have a negative and insignificant effect on e-payment adoption. This research contributes original insights by integrating elements of TAM and consumer behavior theory within the context of e-payment adoption among MSMEs, a relatively unexplored area in the existing literature. Notably, the study introduces the influence of motivation to purchase second-hand goods as a unique variable rarely addressed in previous studies on e-payment adoption. Based on these findings, it is recommended that service providers and the government promote the development of variables that positively influence achieving a cashless society in Indonesia. Future research should consider incorporating additional variables to obtain more comprehensive results.Keywords:
E-Payment Consumer adoption Surakarta Market FestReferences
Abbes, I., Hallem, Y., & Taga, N. (2020). Second-hand shopping and brand loyalty: The role of online collaborative redistribution platforms. Journal of Retailing and Consumer Services, 52, 101885. https://doi.org/10.1016/j.jretconser.2019.101885
Alfansi, L., & Daulay, M. Y. I. (2021). Factor affecting the use of e-money in millennial generation: Research model UTAUT 2. Jurnal Manajemen Dan Pemasaran Jasa, 14(1), 109–122. https://doi.org/10.25105/jmpj.v14i1.8212
Al-Sabaawi, M. Y. M., Alshaher, A. A., & Alsalem, M. A. (2023). User trends of electronic payment systems adoption in developing countries: An empirical analysis. Journal of Science and Technology Policy Management, 14(2), 246–270. https://doi.org/10.1108/JSTPM-11-2020-0162
Andreu-Sánchez, C., & Martín-Pascual, M.-Á. (2020). Fake images of the SARS-CoV-2 coronavirus in information communication at the beginning of the first Covid-19 pandemic. El Profesional de La Información, 29(3). https://doi.org/10.3145/epi.2020.may.09
Andriyani, N., Maulana, H. K., Salam, A. N., Utami, F. M., Kinasih, A. N., Ardiansyah, S., & Iskandar, I. (2023). How does the PEN Program Affect the Sustainability of MSMEs: A Case Study in Bantul. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 18(1), 110–119. https://doi.org/10.24269/ekuilibrium.v18i1.2023.pp110-119
Aulia, S. (2020). Pola Perilaku Konsumen Digital Dalam Memanfaatkan Aplikasi Dompet Digital. Jurnal Komunikasi, 12(2), 311. https://doi.org/10.24912/jk.v12i2.9829
Brown & Venkatesh. (2005). Model of Adoption of Technology in Households: A Baseline Model Test and Extension Incorporating Household Life Cycle. MIS Quarterly, 29(3), 399. https://doi.org/10.2307/25148690
Budiarto, D. S., Amanda, A., & Nordin, N. (2023). Digital Technologies Application and Competitive Advantage for MSMEs Sustainability and Market Performance. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 18(2), 169–178. https://doi.org/10.24269/ekuilibrium.v18i2.2023.pp169-178
De Luna, I. R., Liébana-Cabanillas, F., Sánchez-Fernández, J., & Muñoz-Leiva, F. (2019). Mobile payment is not all the same: The adoption of mobile payment systems depends on the technology applied. Technological Forecasting and Social Change, 146, 931–944. https://doi.org/10.1016/j.techfore.2018.09.018
Dickinger, A., Arami, M., & Meyer, D. (2008). The role of perceived enjoyment and social norm in adopting technology with network externalities. European Journal of Information Systems, 17(1), 4–11. https://doi.org/10.1057/palgrave.ejis.3000726
Fabris, N. (2019). Cashless Society – The Future of Money or a Utopia? Journal of Central Banking Theory and Practice, 8(1), 53–66. https://doi.org/10.2478/jcbtp-2019-0003
Fadhilah, J., Layyinna, C. A. A., Khatami, R., & Fitroh, F. (2021). Pemanfaatan Teknologi Digital Wallet Sebagai Solusi Alternatif Pembayaran Modern: Literature Review. Journal of Computer Science and Engineering (JCSE), 2(2), 89–97. https://doi.org/10.36596/jcse.v2i2.219
Hachtel, H., Vogel, T., & Huber, C. G. (2019). Mandated Treatment and Its Impact on Therapeutic Process and Outcome Factors. Frontiers in Psychiatry, 10, 219. https://doi.org/10.3389/fpsyt.2019.00219
Hassan, M. A., Shukur, Z., Hasan, M. K., & Al-Khaleefa, A. S. (2020). A Review on Electronic Payments Security. Symmetry, 12(8), 1344. https://doi.org/10.3390/sym12081344
Koenig-Lewis, N., Marquet, M., Palmer, A., & Zhao, A. L. (2015). Enjoyment and social influence: Predicting mobile payment adoption. The Service Industries Journal, 35(10), 537–554. https://doi.org/10.1080/02642069.2015.1043278
Latifah, L., Susilowati, N., Ardiansah, M. N., Tusyanah, T., & Abdullah, M. S. (2022). Social Media Networking and Knowledge Sharing in Increasing Innovation and MSME’s Growth: Based on the Theory of Communication Visibility. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 17(2), 122–138. https://doi.org/10.24269/ekuilibrium.v17i2.2022.pp122-138
Megadewandanu, S., Suyoto, & Pranowo. (2016). Exploring mobile wallet adoption in Indonesia using UTAUT2: An approach from a consumer perspective. 2016 2nd International Conference on Science and Technology-Computer (ICST), 11–16. https://doi.org/10.1109/ICSTC.2016.7877340
Negm, E. M. (2023). Femvertising social marketing: A focus on perceived authenticity and perceived congruence of the advertising and consumers’ attitudes toward female portrayal. Journal of Humanities and Applied Social Sciences, 5(5), 435–449. https://doi.org/10.1108/JHASS-05-2023-0053
Oyelami, L. O., Adebiyi, S. O., & Adekunle, B. S. (2020). Electronic payment adoption and consumers’ spending growth: Empirical evidence from Nigeria. Future Business Journal, 6(1), 14. https://doi.org/10.1186/s43093-020-00022-z
Park, J., Ahn, J., Thavisay, T., & Ren, T. (2019). Examining the role of anxiety and social influence in multi-benefits of mobile payment service. Journal of Retailing and Consumer Services, 47, 140–149. https://doi.org/10.1016/j.jretconser.2018.11.015
Rahman, M., Ismail, I., & Bahri, S. (2020). Analysing consumer adoption of cashless payment in Malaysia. Digital Business, 1(1), 100004. https://doi.org/10.1016/j.digbus.2021.100004
Ramesh, K. P., Amudha, R., Prasob, K., & Kanna, K. S. (2023). Fintech innovations in E-payments: Privacy and security in cybercrime threats. Multidisciplinary Science Journal, 5, 2023ss0320. https://doi.org/10.31893/multiscience.2023ss0320
Setiyawan, A., Isa, M., & Wajdi, M. F. (2023). SMEs Performance and Halal Food Supply Chain. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 18(1), 62–71. https://doi.org/10.24269/ekuilibrium.v18i1.2023.pp62-71
Srivastava, A., Mukherjee, S., & Jebarajakirthy, C. (2020). Aspirational consumption at the bottom of pyramid: A review of literature and future research directions. Journal of Business Research, 110, 246–259. https://doi.org/10.1016/j.jbusres.2019.12.045
Susanto, E., Solikin, I., & Purnomo, B. S. (2022). A REVIEW OF DIGITAL PAYMENT ADOPTION IN ASIA. Advanced International Journal of Business, Entrepreneurship and SMEs, 4(11), 01–15. https://doi.org/10.35631/AIJBES.411001
Talwar, S., Dhir, A., Khalil, A., Mohan, G., & Islam, A. K. M. N. (2020). Point of adoption and beyond. Initial trust and mobile-payment continuation intention. Journal of Retailing and Consumer Services, 55, 102086. https://doi.org/10.1016/j.jretconser.2020.102086
Tarantang, J., Awwaliyah, A., Astuti, M., & Munawaroh, M. (2019). PERKEMBANGAN SISTEM PEMBAYARAN DIGITAL PADA ERA REVOLUSI INDUSTRI 4.0 DI INDONESIA. JURNAL AL-QARDH, 4(1), 60–75. https://doi.org/10.23971/jaq.v4i1.1442
Tounekti, O., Ruiz-Martinez, A., & Skarmeta Gomez, A. F. (2020). Users Supporting Multiple (Mobile) Electronic Payment Systems in Online Purchases: An Empirical Study of Their Payment Transaction Preferences. IEEE Access, 8, 735–766. https://doi.org/10.1109/ACCESS.2019.2961785
Tsai, S.-C., Chen, C.-H., & Shih, K.-C. (2022). Exploring Transaction Security on Consumers’ Willingness to Use Mobile Payment by Using the Technology Acceptance Model. Applied System Innovation, 5(6), 113. https://doi.org/10.3390/asi5060113
Venkatesh, Morris, Davis, & Davis. (2003). User Acceptance of Information Technology: Toward a Unified View. MIS Quarterly, 27(3), 425. https://doi.org/10.2307/30036540
Widyanto, H. A., Kusumawardani, K. A., & Septyawanda, A. (2020). ENCOURAGING BEHAVIORAL INTENTION TO USE MOBILE PAYMENT: AN EXTENSION OF UTAUT2. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 4(1), 87. https://doi.org/10.24912/jmieb.v4i1.7584
Yang, Y., Lichtenwalter, R. N., & Chawla, N. V. (2015). Evaluating link prediction methods. Knowledge and Information Systems, 45(3), 751–782. https://doi.org/10.1007/s10115-014-0789-0
License
Copyright (c) 2026 Mulyanto, Tetuko Rawidyo Putro, Karl Valentino William Rodeana, Muhammad Bagus Sistriatmaja, Siti Aisyah Tri Rahayu, Lukman Hakim, Riwi Sumantyo, Hery Sulistyo Jati Nugroho Sriwiyanto, Ariyanto Adi Nugroho, Muhammad Yusuf Indra Purnama
This work is licensed under a Creative Commons Attribution 4.0 International License.
Downloads
How to Cite
