An overview of e-payment adoption among muslim micro-entrepreneurs in Malaysia
The electronic payment (e-payment) system has become an increasingly important payment system world-wide. Apart from improving the convenience, e-payment system also increases the efficiency in the delivery of financial services to “un-bankable” community, especially the micro-entrepreneurs. In M...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Global Economic Excellence
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/60131/ http://irep.iium.edu.my/60131/ http://irep.iium.edu.my/60131/1/013%20Siti%20Aishah%20IJAFB.pdf |
| Summary: | The electronic payment (e-payment) system has become an increasingly important
payment system world-wide. Apart from improving the convenience, e-payment system also
increases the efficiency in the delivery of financial services to “un-bankable” community,
especially the micro-entrepreneurs. In Malaysia, the number of e-payments made per capita
has increased substantially from 14.3 transactions in 2003 to 82 transactions in 2015.
Realizing the increasing importance of e-payments, financial institutions including
microfinance institutions should play their roles in encouraging high adoption of e-payment
among the micro-entrepreneurs. Up to 2011, there are 645,136 small and medium enterprises
being established in Malaysia and of this, 77 per cent is categorized as micro-enterprises. By
targeting the micro- entrepreneurs, financial inclusion can be enhanced through adoption epayment
system. This study aims to analyze the e-payment services offered to the microenterprises
by reviewing the adoption of Muslim micro-entrepreneurs and providing
suggestions for the e-payment adoption. In achieving these objectives, the study reviews the
existing literature on the adoption of e-payments and highlights the related issues relating to
its adoption especially by the micro-entrepreneurs. The findings of this study are expected to
enrich the knowledge on the adoption of digital financial services, particularly the e-payment
and will be useful for the service providers to continuously improve their services. |
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