THE ANALYSIS OF INDIVIDUAL’S BEHAVIORAL INTENTION AND USE BEHAVIOR IN USING OVO BASED ON UTAUT 2

Abstract

Cashless lifestyle has rapidly gained its popularity with the introduction of e-wallet as an
innovation form of e-money such as OVO to enhance an effective and efficient means of
transaction. However, the successful implementation of OVO as an e-wallet largely depends
on the extent of how the customers are fully motivated to adopt it. The purpose of this
research is to explain the factors which influence the behavioral intention and use behavior to
utilize OVO. The proposed model has factors from Unified Theory of Acceptance and Use of
Technology 2 (UTAUT 2). This research applies an explanatory research and the data are
collected by employing survey method (questionnaires). The respondents comprise of 328
undergraduate active students from accounting department in Faculty of Economics and
Business, Brawijaya University. The research data and hypothesis are analyzed by using
Structural Equation Modeling (SEM) based on Partial Least Square (PLS). The research
findings mainly indicate that behavioral intention to utilize mobile banking is significantly
and positively influenced by performance expectancy, hedonic motivation, and habit. It is
equally important that behavioral intention also has a strong and positive effect towards use
behavior. In contrast, effort expectancy, social influence, and price value do not affect the
uses’ behavioral intention to use OVO. Thus, it can be concluded that higher performance
expectancy, hedonic motivation and habit, will highly affect the intention to use OVO, and
higher behavioral intention will highly impact the use behavior of using OVO.
Keywords: E-money, E-wallet, Performance Expectancy, Effort Expectancy, Social
Influence, Price Value, Hedonic Motivation, Behavioral Intention, Use behavior.