Integrating E-Service Quality and Perceived Value in Explaining E-Wallet Satisfaction: The Mediating Role of E-Trust

Abstract

This study examines the influence of E-Service Quality and Perceived Value on User Satisfaction, with E-Trust as a mediating variable, among students of the Faculty of Economics and Business, Sam Ratulangi University (FEB UNSRAT) who use the DANA e-wallet application. A quantitative, causal-associative research design was applied. The population consisted of 4,101 active FEB UNSRAT students, from which a sample of 100 respondents was selected using a purposive sampling technique based on the Slovin formula. Data were collected through a Likert-scale questionnaire and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with the aid of SmartPLS 4. The results show that E-Service Quality has a positive and significant effect on E-Trust and on User Satisfaction; Perceived Value has a positive and significant effect on E-Trust and on User Satisfaction; and E-Trust has a positive and significant effect on User Satisfaction. Mediation testing further reveals that E-Trust significantly mediates the effect of both E-Service Quality and Perceived Value on User Satisfaction. The model explains 79.6 percent of the variance in E-Trust and 81.3 percent of the variance in User Satisfaction, indicating strong explanatory power. These findings suggest that improving electronic service quality, enhancing the value perceived by users, and strengthening user trust are essential levers for increasing satisfaction with digital wallet services, and that DANA should continue to invest in transaction security, system reliability, and service quality to sustain user satisfaction.