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Continuance intention of baby boomer and X generation as new users of digital payment during COVID-19 pandemic using UTAUT2

Author

Listed:
  • Allicia Deana Santosa

    (Universitas Siliwangi)

  • Nuryanti Taufik

    (Universitas Siliwangi)

  • Faizal Haris Eko Prabowo

    (Universitas Galuh)

  • Mira Rahmawati

    (Universitas Siliwangi)

Abstract

The emergence of social distancing and stay at home regulations during the COVID-19 pandemic directly affects people’s lifestyle, including baby boomers and X generation. Many of them have started using digital payments for online or offline transactions to minimize contact with others. This study aims to analyze the continuance intention of the baby boomers and X generation toward the use of digital payments using UTAUT2 (Unified Theory of Acceptance Technology). Data were collected from 320 users with an age range of 40–74 who had just started using digital payments during this pandemic. Structural equation modeling has been used to analyze the data. The result indicates that UTAUT indicators positively affect user satisfaction. User satisfaction positively affects inertia. Overall satisfaction and inertia positively affect continuance intention. Therefore, digital payment companies and banks with digital services can expand their target market beyond Millennials and pay more attention to the older generation like baby boomers and X generation. Managers can find the results of this study useful and beneficial to develop their marketing strategy and take advantage of this situation to increase digital payment users to a broader age range.

Suggested Citation

  • Allicia Deana Santosa & Nuryanti Taufik & Faizal Haris Eko Prabowo & Mira Rahmawati, 2021. "Continuance intention of baby boomer and X generation as new users of digital payment during COVID-19 pandemic using UTAUT2," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 259-273, December.
    • Handle: RePEc:pal:jofsma:v:26:y:2021:i:4:d:10.1057_s41264-021-00104-1
    DOI: 10.1057/s41264-021-00104-1
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    References listed on IDEAS

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    4. Nadire Cavus & Yakubu Bala Mohammed & Mohammed Bulama & Muhammad Lamir Isah, 2023. "Examining User Verification Schemes, Safety and Secrecy Issues Affecting M-Banking: Systematic Literature Review," SAGE Open, , vol. 13(1), pages 21582440231, January.
    5. Neena Sinha & Nidhi Singh, 2023. "Moderating and mediating effect of perceived experience on merchant's behavioral intention to use mobile payments services," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 448-465, September.
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    8. Lian, Jiunn-Woei & Li, Ji, 2021. "The dimensions of trust:An investigation of mobile payment services in Taiwan," Technology in Society, Elsevier, vol. 67(C).
    9. Anna Dewalska-Opitek & Katarzyna Bilińska & Marek Cierpiał-Wolan, 2022. "The Application of the Soft Modeling Method to Evaluate Changes in Customer Behavior towards e-Commerce in the Time of the Global COVID-19 Pandemic," Risks, MDPI, vol. 10(3), pages 1-13, March.
    10. Svetlana Fedoseeva & Ellen Van Droogenbroeck, 2023. "Pandemic pricing: Evidence from German grocery e‐commerce," Agribusiness, John Wiley & Sons, Ltd., vol. 39(4), pages 1139-1156, October.
    11. L. Vimal Raj & S. Amilan & K. Aparna & Karthick Swaminathan, 2024. "Factors influencing the adoption of cashless transactions during COVID-19: an extension of enhanced UTAUT with pandemic precautionary measures," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 488-507, June.
    12. Hyeon Jo & Youngsok Bang, 2024. "RETRACTED ARTICLE: From storefront to screen: an in-depth analysis of the dynamics of online for offline retailing," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    13. Witold Chmielarz & Marek Zborowski & Alicja Fandrejewska & Mesut Atasever, 2021. "Poland–Turkey Comparison of Mobile Payments Quality in Pandemic Time," JRFM, MDPI, vol. 14(9), pages 1-22, September.
    14. Torgeir Aleti & Bernardo Figueiredo & Diane M. Martin & Mike Reid, 2023. "Socialisation Agents’ Use(fulness) for Older Consumers Learning ICT," IJERPH, MDPI, vol. 20(3), pages 1-11, January.
    15. Emerson Wagner Mainardes & Priscilla Maria Ferreira Costa & Silvania Neris Nossa, 2023. "Customers’ satisfaction with fintech services: evidence from Brazil," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(2), pages 378-395, June.

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