This study aims to identify the factors that influence cash waqf intention of Indonesians via securities crowdfunding (SCF) mechanisms using a modified theory of planned behavior (TPB) and technology acceptance model (TAM).
This study uses Structural Equation Modeling with the Partial Least Square (SEM-PLS) to conduct quantitative analysis with 370 Indonesian respondents.
Perceived usefulness, attitude, subjective norms and perceived behavioral control significantly influence behavioral intention to participate in cash waqf through SCF. Perceived ease of use also significantly affects perceived usefulness and attitude. Subjective norms do not significantly affect perceived usefulness. The main result of this study shows that a person’s interest in participating in cash waqf through a SCF platform is significantly influenced by positive perceptions of the benefits of SCF, such as ease of access and efficiency, opinions from close people and resources owned, such as money and gadgets. The ease of use of the SCF platform is also influenced by the behavior and benefits of this financial technology (fintech).
The findings of this study indicate that waqf institutions need to enhance synergies with fintech platforms to boost cash waqf via SCF, employing educational and campaign activities targeted at the public.
This study represents the pioneering work exploring cash waqf intention through SCF. It provides insights regarding intention and preference, which are essential for enhancing policies to enhance SCF services. Particularly, it focuses on optimizing cash waqf collection through technological innovations that assist waqf institutions in accelerating cash waqf collection in Indonesia.
