Track: Human Factors and Ergonomics

Abstract

Current statistical data indicate that the Philippines still lags behind other progressing countries in transitioning to a cashless society despite the existence of technological innovations in promoting cashless transactions worldwide; hence, the study was conducted. The study investigated the behavioral factors that significantly influence Filipino users' adoption of online banking and e-wallets for payment transactions through Structural Equation Modeling (SEM) and a quantitative technique to show the causal relationships between determined variables as the primary research method. The findings indicated that Social influence, Perceived Environment, Facilitating Conditions, and Hedonic Motivation affect Filipinos' perceived trust in online banks and e-wallets for payment transactions, with Hedonic Motivation having the highest effect. Filipinos’ Perceived Ease of Use with these services was also deemed to be significantly influenced by their Perceived Trust in using. This, in return, leads to a highly significant influence on their Perceived Adoption Behavior. The study provides insights regarding factors influencing Filipinos’ perceived adoption behavior in using financial tools, offering further findings to improve online banking and e-wallet transactions in the Philippines.