Abstract:

Currently, electronic wallet or e-wallet has been used as common payment method in Indonesia and slowly has been replacing cash as payment method. Fintech companies whom mostly operate e-wallet services in Indonesia able to make short term investment using their consumer’s e-wallet balance. However, the money balance tends to small amount. This research aims to evaluate whether perceived values affect to Indonesian’s willingness to save more money in their e-wallet account. Perceived values here consists of perceived benefit and perceived risks. We define perceived benefits as perceived monetary values and perceived convenience values. Meanwhile, we define perceived risk as economic risk, privacy risk service risk and psychological risk. We analyze primary data of e-wallet users in Indonesia. We had conducted validity and reliability test of data collected before making main analysis using regression method. We found that perceived value affects user’s willingness to save more money in their e-wallet. However, we found that convenience benefit has significantly positive affect on user’s saving intention while monetary benefit has not worked in the same way. Meanwhile, service risk is only risk that is relevant on user’s willingness to save money. These findings indicate that convenience and service are the most critical value for e-wallet users in Indonesia.