Analyzing Factors Influencing Continuance Intention of E-Payment Adoption Using Modified UTAUT 2 Model on Sakuku Application

Abstract

The rapid growth of electronic money has shown that Indonesian people have started to transact using digital technology. Moreover, Indonesian government through Bank Indonesia is running a program to increase the awareness of society to become cash-less. One of the e-payment that emerging in Indonesia is Sakuku that is managed by Bank Central Asia. With the growth of Sakuku in Indonesia, there are several factors that influence it. However, the Sakuku application has been downloaded and used by many people, there is no research that analyzes the factors that make users to use the Sakuku application continuously in Indonesia. Therefore, Bank Central Asia needs to understand the factors that can influencing continuance intention of user towards Sakuku application. This study intended to analyze factors influencing continuance intention of Sakuku adoption in Indonesia by using a Modified Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) Model with Trust, Perceived Privacy and Perceived Security as a new variable. The data were gathered from 438 valid respondents in Indonesia chosen by purposive sampling technique. The result revealed that the factors influence continuance intention adoption of Sakuku from the highest to the lowest respectively are Social Influence, Habit, Perceived Privacy, Performance Expectancy, and Hedonic Motivation. The model can predict strongly the continuance intention of consumers towards Sakuku in Indonesia since the R² is 77.40%. From the results of the literature search, this study has not found a published article about the analyzing factors influencing continuance intention of e-payment adoption using a modified UTAUT 2 model on Sakuku Application in Indonesia.