Examining the Effect of Financial Literacy Variables in UTAUT2 Model on the Use of E-wallet

E-wallet is a technology designed for storing payment data, enabling users to conduct transactions conveniently through a smartphone. This ease of use can increase consumptive behavior, and one significant factor influencing consumptive behavior is financial literacy. Therefore, an examination is necessary to determine the acceptance of e-wallet in Medan. The objective of this research is to see if the financial literacy variable can be used to predict behavioral intentions related to adopting and using e-wallet technology. A survey was conducted involving 393 users, and processed using SEM through SmartPLS, this research introduces financial literacy variable into the UTAUT2 model, assessing its significancy of the user's behavioral intentions to adopt e-wallet. The result shows that performance expectancy, habit, and financial literacy positively and significantly affect behavioral intentions, and both habit and behavioral intensions positively affect e-wallet use behavior in Medan.