The Moderating Role if Islamic Marketing Mix (7ps) in Cashless Payment Adoption for Sustainable Digital Growth

Abstract

E-wallets, QR payments, and online banking, among other cashless payment technologies, are transforming the financial sector, which is in line with the Sustainable Development Goals (SDG). However, there is low penetration of cashless payment adoption among Malaysians compared to other nations. The cashless system has more benefits, but not all customers or businesses want to use it, and some may find it hard to stop using cash. Thus, the objective of this concept is to propose a conceptual model that includes the elements that led Malaysians to embrace a cashless payment system. The Theory of Acceptance and Use of Technology 2 (UTAUT2) and the 7Ps of the Islamic Marketing Mix have been applied in this study. The proposed conceptual model in this study could play a fundamental role in enhancing economic development in Malaysia, particularly regarding cashless payment systems, and therefore provides opportunities for further empirical research.