Cashless economy – the nexus of COVID-19 and E-wallet usage intentions: a multi-group analysis between formal and informal sector workers in Ghana
Journal of Science and Technology Policy Management
ISSN: 2053-4620
Article publication date: 15 May 2023
Issue publication date: 21 November 2023
Abstract
Purpose
The purpose of this study is to offer a conceptual model that bridges gaps in the current research by combining constructs from the health belief model (HBM) and theory of planned behaviour (TPB). Furthermore, the researchers applied the constructed model to analyse the determinants of workers’ intentions to use e-wallet payment options for business transactions rather than physical currency during the ongoing COVID-19 pandemic. Finally, the paper examines whether there are any significant variations in the usage intentions of Ghanaian workers in the formal and informal sectors.
Design/methodology/approach
The non-probability convenience sampling technique was used to compile the primary respondents among Ghanaian users of e-wallets. Based on constructs derived from the HBM and TPB, an online survey involving the use of a questionnaire was administered to collect quantitative data from 285 formal and informal sector workers in Ghana. Data collected was analysed using the partial least squares-structural equation modelling approach involving the measurement, structural model tests, hypothesis tests and multi-group analysis (MGA) tests.
Findings
This study reveals that workers’ attitudes, subjective norms and perceived susceptibility as the main determinants of intentions to use e-wallets, as the analysis of data lends support to hypotheses involving these constructs. Perceived behavioural control was however not supported by the data analysis as a determinant of workers’ intention. Finally, there were no significant differences between e-wallet usage intentions of formal and informal sector workers in Ghana.
Research limitations/implications
Given the ongoing pandemic, the study recommends that governments of emerging economies should formulate policies that promote the use of e-wallets, to reduce the spread of COVID-19 and at the same time contribute to the quest for a cashless economy. However, the results of the study are only based on data collected from workers in Ghana. Therefore, practitioners should apply the recommendations with discretion and make modifications where necessary. The results of the study also provide evidence from the context of a developing country that can support future academic pursuits.
Practical implications
This study provides evidence that influences practitioners’ decisions and practices regarding the design and implementation of e-wallet services and innovations among workers in the formal and informal sectors of the economy.
Originality/value
This study provides useful business insights to user acquisition managers, marketing managers and business development managers during the formulation of policies, strategies and approaches for their mobile wallet subscriber base. Moreover, to the best of the authors’ knowledge, this study is one of the first to apply the constructs of the HBM (mainly applied in health research) to the study of workers’ intentions to use e-wallets. It, therefore, makes a significant contribution to the existing literature by examining the combined effects of the constructs of the HBM and the TPB on workers’ intention to use e-wallets.
Keywords
Acknowledgements
The following criteria were applied for authorship: direct involvement in the conceptualisation and writing of sections of the articles; and direct involvement in the collection and analysis of data collected. The authors would like to express their gratitude to the Presbyterian University Ghana for providing administrative support. The authors also thank the authors’ colleague lecturers who volunteered to review the study’s instrument.
Citation
Amankwa, E., Amissah, G. and Okoampa-Larbi, R. (2023), "Cashless economy – the nexus of COVID-19 and E-wallet usage intentions: a multi-group analysis between formal and informal sector workers in Ghana", Journal of Science and Technology Policy Management, Vol. 14 No. 6, pp. 1155-1183. https://doi.org/10.1108/JSTPM-09-2021-0137
Publisher
:Emerald Publishing Limited
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