The increase of internet user make the online transactions also increase along with technology development for the cashless payment system. Start from 2017, cashless payment seems promising for certain type of transactions, such as ride hailing and food delivery. One of the top Indonesia finance apps per 2017 is OVO. OVO is technology-based payment services company and employs emerging financial technologies that provide customer with new ways to go about their lives. By the collaboration of OVO and Grab as a partner in technology and innovation, OVO as the payment system in Grab application.
The objective of this research is to anaylze factors influencing continuance intention of OVO feature in Grab application adoption in Indonesia. The research model used in this research is a Modified Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) Model with Trust as a new variable.
This research used data from 400 respondents who lived in Indonesia and the respondents are only the user of OVO feature in Indonesia. The questionnaire was shared and gathered through an online survey, with 45 survery items from 9 construct. Using Gender and Age as moderate variable, the respondents are divided into categories such as young age, adult age, female and male. The data gathered has been fulfilled the validity and reability criteria. This research using Structural Equation Modeling (SEM) with SmartPLS 3.0 as the statistical software to test the hypothesis.
The result revealed that there are four factors in the Modified UTAUT 2 Model which significantly influence the continuance intention of OVO feature in Grab application adoption, namely Habit, Trust, Performance Intention, Hedonic Motivation. In terms of moderating factors, Age is not moderating any influences of factors towards Continuance Intention and Gender is moderating any influences of factors towards Continuance Intention. The model can predict strongly the continuance intention of consumers towards OVO feature in Grab application services in Indonesia since the R2 is 70.2%. This model can be used by OVO and Grab management in making decisions to maintain the continuance intention of consumers towards OVO feature in Grab application adoption by paying attention to those factors and their indicators.
This research has found that the most significant factor from UTAUT 2 Model that influence the continuance intention of OVO feature in Grab application is Habit. It is suggested for company to make more promotion such as discount to gain the user’s intention needs so users will choose OVO feature in Grab application as their payment system. Further research is expected to do research in qualitative method with the other 4 rejected hypothesis questioning about why the hypothesis is rejected.
Keywords: OVO, UTAUT2, continuance intention, trust, price saving orientation