Analysis of Switching Intention in Digital Payment Services: Case Study of Universitas Muhammadiyah Yogyakarta

Abstract

Mobile payment services like OVO and digital wallets have become increasingly popular in today’s fast-paced technology environment. Using the Push-Pull-Mooring (PPM) framework, this study investigates the factors that lead students at Universitas Muhammadiyah Yogyakarta (UMY) to migrate from alternative fintech payment systems to OVO. Purposive sampling was used to gather data from 400 respondents, and SPSS Version 21.0 was used for multiple regression analysis. The results show that switching intentions are strongly encouraged by both push and pull effects, with the former encouraging consumers to abandon other services and the latter drawing them to OVO. On the other hand, the anchoring effect acts as a significant disincentive, encouraging consumers to stick with their existing mobile payment providers. This implies that OVO’s attractiveness to UMY students is comparable to other options while still being competitive. In the very competitive fintech sector, mobile payment companies need to constantly innovate and improve the quality of their services to keep users.