Adoption of Cashless Payment Among Undergraduate Students: A Case Study
Abstract
The increasing acceptance of cashless payment systems has led to a significant transformation in the global financial transaction landscape in recent years. As technology evolves and consumer preferences shift, digital payment methods are gradually taking the place of traditional cash transactions. This change not only facilitates financial transactions for individuals and businesses but also has significant implications for convenience, security, and financial inclusion. This paper investigates the key factors driving the transition to cashless transactions during this period, along with the benefits and drawbacks associated with society's growing embrace of this innovative approach to managing finances. The primary focus of research in this area revolves around the adoption and use of digital or cashless payment methods. A quantitative methodology was employed, and a questionnaire was administered to 113 participants. The data were analyzed using the Statistical Package for Social Science (SPSS) Version 27. The findings indicated that Performance Expectancy (PE) and Perceived Technology Security (PT) played significant roles in the adoption of cashless payments among undergraduate students while Facilitating Condition (FC) and Social Influence (SI) did not significantly affect their adoption of such payment methods. This study provides valuable insights into assessing individuals' willingness, intentions, or actual behaviors regarding various electronic transaction forms, including mobile wallets, credit/debit cards, online payments, and contactless methods. Additionally, researchers can utilize these variables to explore the factors that influence users' acceptance or rejection of cashless payment systems.
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