'Ain Nabilah Bukhari^1,2, Intan Salwani Mohamed^2,3* & Siti Nur Shuhada Nazuri³  and Machmudin Eka Prasetya⁴

¹ Datasonic Technologies Sdn Bhd, Petaling Jaya, Selangor, Malaysia
² Faculty of Accountancy, Universiti Teknologi MARA, Puncak Alam, Selangor, Malaysia
³ Accounting Research Institute (ARI HICoE), Universiti Teknologi MARA, Shah Alam, Selangor, Malaysia
⁴ Faculty of Economics & Business, Universitas Indonesia, Indonesia

ABSTRACT

This study examines the acceptance of mobile payment services among postgraduate students during the COVID-19 pandemic, following the World Health Organization’s call for contactless transactions to minimize SARS-CoV-2 transmission. It examines key determinants, including social influence, performance expectancy, facilitating conditions, effort expectancy, and perceived risk, based on the Unified Theory of Acceptance and Use of Technology (UTAUT). Data were collected from 155 postgraduate students at a Malaysian public university using a structured questionnaire. Findings reveal that performance expectancy and perceived risk significantly influence mobile payment acceptance, accounting for 65.8% of the variance. The results underscore how students perceive mobile payments as both efficient and risk-mitigating during health crises. This study contributes to the understanding of technology acceptance by illustrating the dual role of mobile payments in enhancing convenience and public safety. It also provides actionable insights for policymakers, educational institutions, and financial technology providers to enhance digital payment adoption and resilience strategies in the event of future pandemics.

Keywords: Mobile Payment, Unified Theory of Acceptance and Use of Technology, COVID-19, Perceived Risk