The Effect of Covid-19 on Consumers’ Payment Behaviour: Integration of the Theory of Planned Behaviour and the Health Belief Model

Abstract

The coronavirus 19 disease crisis has impacted people's behaviour and changed their ways of living. People are cognitively change their behaviour to protect their lives during this crisis due to the negative effects of COVID-19. The theory of planned behaviour (TPB) and the health belief model (HBM) are employed to determine consumers' intention to adopt cashless payments with the influence of the COVID-19 crisis in Malaysia. A total of 222 responses were collected from internet survey during November and December 2020. The hierarchical regression was conducted to test the prediction. Attitude and social norms in the TPB model and the perceived benefits and self-efficacy in the HBM model are discovered as significant factors in predicting consumers' intention to adopt cashless payments. In addition, the findings reveal that the integration of TPB and HBM models shows a stronger effect than examining the two behaviour change models separately. This is one of the few studies that explore the impact of health issues in the digital financial services context.