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Klabat Journal of ManagementKlabat Journal of Management

In Indonesia, the use of digital wallets (e-wallets) such as GoPay, OVO, DANA, and ShopeePay is increasing, especially among the millennial generation who prioritize ease and speed of transactions. This study aims to analyze the factors that influence student consumer behavior in using digital wallets. The method used is qualitative with a phenomenological approach. Based on a Populix survey of 1,000 respondents, the most widely used digital wallet applications are Dana (88%), Gopay (83%), ShopeePay (79%), OVO (76%), and LinkAja! (30%). The results of the study show that ease of access, cashback, and promotions play a significant role in encouraging the use of digital wallets. However, low financial literacy leads to a tendency towards uncontrolled consumer behavior. Therefore, education about financial literacy is an important aspect in using digital wallets wisely.

The study concludes that digital wallets, particularly DANA, are widely adopted by university students in Jambi due to their convenience and practicality in transactions.Security is also a key consideration for users.While digital wallets facilitate easier spending, its crucial for consumers to be mindful of their spending habits to avoid excessive consumption and ensure responsible financial management.The research highlights the need for enhanced digital financial literacy and stronger oversight from regulatory bodies to support a healthy digital financial ecosystem.

Further research should investigate the long-term impact of digital wallet usage on financial well-being among millennials, exploring whether increased convenience leads to sustainable financial habits or increased debt. Additionally, studies could examine the effectiveness of different financial literacy interventions tailored to digital wallet users, focusing on strategies to promote responsible spending and budgeting. Finally, research is needed to understand how the integration of digital wallets with emerging technologies like artificial intelligence and personalized recommendations influences consumer decision-making and potentially exacerbates impulsive buying tendencies, particularly among vulnerable populations. These investigations should consider the evolving landscape of digital finance and the increasing sophistication of marketing techniques employed by digital wallet providers to ensure that consumers are equipped to navigate this complex environment effectively and make informed financial choices.

  1. Vol. 4 No. 2 (2023): Klabat Journal of Management | Klabat Journal of Management. vol klabat journal... doi.org/10.60090/kjm.v4i2Vol 4 No 2 2023 Klabat Journal of Management Klabat Journal of Management vol klabat journal doi 10 60090 kjm v4i2
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