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Do People Aware of How Distinct E-Wallet Products Are? : Case of Indonesia University Students’ Perspectives

Laurencia Yolanda, Deddy Priatmodjo Koesrindartoto


Abstract. In Indonesia, financial technology industry has been growing rapidly, including e-wallet. Currently, there are listed 36 e-wallet issuers which indicates tight competition. This study aims to determine university students’ choice pattern on e-wallet products, create function to classify their preferences in choosing e-wallet products and to derive proper strategy for the e-wallet issuers. This research was conducted using questionnaire through convenience sampling. The number of respondents used was 455. The data were analyzed using Independent T-Test and Discriminant Analysis. Author used only GoPay and OVO in the analysis since those products are dominating. It is found that both genders and people living in DKI Jakarta and West Java prefer GoPay to OVO. However, people from Social Field prefer OVO to GoPay. It also shows that GoPay users are more digital savvy compared to OVO’s. The discriminant function created has a weak discriminatory ability. Lastly, it is recommended for e-wallet players to follow GoPay in creating broader environment for its usage, benchmarking with OVO to capture users from social studies background, and create product differentiation. Further research could be conducted by adding business model as an independent variable and done when there are more apparent differentiation within e-wallet products in Indonesia.

Keywords: financial technology; e-wallet; university students; preference; discriminant analysis.


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