Merchant loyalty drivers to use electronic money

'Electronic money' is an emerging payment method these last decades that is increasing its utilisation with the spread of transmission of coronavirus 19 pandemic. The goal of this research was to verify the influence of intention, perceived risk, satisfaction, and trust on users' loyalty toward e-money. This is attitudinal loyalty so thus questionnaire was deployed to collect data from e-money users. Merchant becomes the target of e-money user in this study. Structural equation modelling (SEM) was deployed to verified model developed to the data collected. Results revealed that data fit the model. It means intention, perceived risk, satisfaction, and trust simultaneously affect merchant loyalty in using e-money significantly. However, partially only intention and satisfaction affect merchant loyalty significantly. The influence is positive and very strong. This paper discussed the implication of the result that need to be considered by e-money stakeholders as well as future research challenges.