Analysis of the Effect of Financial Literacy, Practicality and Consumer Lifestyle on the Use of Chip‐Based Electronic Money Using SEM

Bob, Foster and Sukono, Sukono and Muhamad, Deni Johansyah Analysis of the Effect of Financial Literacy, Practicality and Consumer Lifestyle on the Use of Chip‐Based Electronic Money Using SEM. Sustainability. ISSN 2071-1050

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Abstract

Industry 4.0 trends have a significant influence on the acceleration of technology in Indo‐ nesia. The development of financial technology has shifted conventional transactions to electronic money as a means of payment with a digital system. Electronic money users in Indonesia continue to grow, while several factors affect consumer decision making to use electronic money. This study aims to analyze the effect of financial literacy, practicality, and consumer lifestyle on consumer in‐ terest in using chip‐based electronic money. This research uses a quantitative approach with pri‐ mary data obtained through questionnaires to chip‐based electronic money users. The analytical method used is Structural Equation Modeling (SEM) to verify the factors that determine the indica‐ tors of the findings of interest in the use of chip‐based electronic money. The study results indicate that: (a) Financial literacy has a significant positive effect on interest in using chip‐based electronic money by 14.6%; (b) Financial literacy has a significant positive effect on practicality in the use of chip‐based electronic money by 51.8%; (c) Practicality in the use of chip‐based electronic money has a significant positive effect on consumer lifestyles by 71.3%; (d) Practicality has a significant positive effect on the use of chip‐based electronic money by 25%; and (e) Consumer lifestyle has a significant positive effect on the use of chip‐based electronic money by 52.8%. The study results imply that it can be used as a consideration for making monetary policy in Indonesia, dealing with the rapid growth in the use of chip‐based electronic money. Keywords: electronic money; financial literacy; practicality; lifestyle; consumer interest; SEM

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Depositing User:	lppm Universitas UNIBI
Date Deposited:	28 Dec 2021 04:02
Last Modified:	28 Dec 2021 06:25
URI:	http://repository.unibi.ac.id/id/eprint/443

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