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E-money or E-wallet? A Study of University Students’ Preference in Choosing Cashless Payment Systems

Kezia Angelini, Deddy Priatmodjo Koesrindartoto


Abstract. Digital technology exists to make human life much easier in so many ways. The way human pays for things even now adapt the digital technology. The shift in the payment system applies to almost all countries in the world and that includes Indonesia. E-money and e-wallet are two payment products that are deserved to be highlighted. These two are developing rapidly in the country. In Indonesia, term e-money is defined as an electronic payment that is card based. E-wallet is a means of payment that is based on server. Although the growth of electronic payment is very high, the impact of those products to Indonesian economy is still low. This is reflected by its low contribution to Indonesian GDP. One of the reason is because the issuers do not fully understand about what consumers really want and need. For this reason, university students’ preferences towards two different cashless payment systems, e-money and e-wallet, were studied. The factors affecting payment choice that were tested here were speed, convenience, security, merchant acceptance and digital lifestyle. Count statistics, independent t-test and binary logistic regression were done to reach the main objectives. The number of respondents were 857 respondents.

Keywords: Payment; E-money; E-wallet; Indonesia; University; Students; Preferences


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