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All Journal Journal of the Community Development in Asia
Nur Nazira Razalli
Universiti Sains Malaysia
Humanities

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The Digital Wallet Trap: Assessing the Impact of E-Wallets on the Spending Habits and Financial Wellbeing of USM Students Ainul Mohsein Abdul Mohsin; Nur Natasha Husna Mohamed Ali; Nur Nabila Huda Amran; Nur Nazira Razalli; Nur Quratu Ainabilah Mohd Nor Sufian; Daisy Mui Hung Kee
Journal of The Community Development in Asia Vol 9, No 3 (2026): September 2026
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jcda.v9i3.5068

Abstract

This study examines the impact of e-wallet features on the spending habits and financial wellbeing of students at Universiti Sains Malaysia (USM). Using a quantitative approach, the study investigates three key factors: Perceived Ease of Use, Promotional Incentives, and Payment Visibility. Spending habits are assessed through impulse buying and budgetary leaks, while financial wellbeing is evaluated through saving capacity and financial stress. The findings indicate that frictionless digital transactions and reduced visibility of physical cash lower psychological barriers to spending, increasing students’ tendency to make unplanned purchases. Promotional incentives, including cashback and rewards, further encourage frequent e-wallet usage and spending beyond planned budgets. These patterns may contribute to increased borrowing and reduced financial stability among students. The study highlights the importance of digital financial literacy and recommends e-wallet features that provide real-time spending transparency to support responsible financial behavior and improve students’ long-term financial wellbeing.
Co-Authors Ainul Mohsein Abdul Mohsin Daisy Mui Hung Kee Nur Nabila Huda Amran Nur Natasha Husna Mohamed Ali Nur Quratu Ainabilah Mohd Nor Sufian