The Influence of Service Quality and Perceived Value on Brand Trust Mediated by Brand Image among

USK Students Using ShopeePay E-Wallet in Banda Aceh

Zalfa Annafisah Daulay

Syiah Kuala University Management Study Program student

e-mail: zalfaannafisahdaulay@gmail.com

Abstract: In the current era of the digital industry, technology is advancing rapidly and becoming
increasingly sophisticated, influencing activities in various aspects of people’s lives, especially in financial
services. This also impacts the transition from offline businesses to online, known as e-commerce. The
rapid development has led to the emergence of financial services or e-wallets. One of the e-commerce
platforms widely favored by students at the University of Syiah Kuala (USK) is Shopee. Shopee has
introduced a digital payment method or e-wallet called ShopeePay. The research problem formulation is
how service quality, perceived value, and brand image affect brand trust among USK students using the
ShopeePay e-wallet in Banda Aceh. The research objective is to examine the influence of service quality,
perceived value, and brand image on brand trust among USK students using the ShopeePay e-wallet in
Banda Aceh. The research findings indicate that service quality, perceived value, and brand image have
an impact on brand trust, and brand image partially mediates the influence of service quality on brand
trust. For future researchers, it is recommended to conduct more in-depth research on service quality,
perceived value, brand image, and brand trust.

Keywords: Service Quality, Perceived Value, Brand Image, and Brand Trust.

Abstract: In the current digital industrial era, technology is moving fast and becoming increasingly
sophisticated which will influence activities in various aspects of people’s lives, especially in financial
services. This also has an impact on offline businesses becoming online, which we know as e-commerce.
And very rapid development is able to provide financial services or e-wallets. One e-commerce that is
very popular among USK students is Shopee. Shopee is able to present a digital payment method or e-
wallet called ShopeePay. The formulation of the research problem is how service quality, perceived
value, brand image influence brand trust among USK students who use the ShopeePay e-wallet in Banda
Aceh. The aim of the research is to test service quality, perceived value, brand image and influence on
brand trust among USK students who use the ShopeePay e-wallet in Banda Aceh. The results of the
research are that service quality, perceived value, brand image influence brand trust and brand image
partially mediates the influence of service quality on brand trust. For future researchers, it is hoped that
researchers can conduct more in-depth research regarding service quality, perceived value, brand image
and brand trust.
Keywords: Service Quality, Perceived Value, Brand Image and Brand Trust.

INTRODUCTION

Technological developments are moving increasingly faster and more sophisticated. Technological
changes can affect various aspects of life and daily activities. One of them is the use of digital internet
technology as it is today. Society has interests and demands that must be fulfilled in all matters. One of
them in the current era of digitalization is the ease of obtaining financial services. This can be realized if
humans are able to create financial services that are fast, easy to use and flexible. So, to fulfill these
needs and obtain easy financial services, the presence of a Financial Technology (Fintech) business is
answered (Benuf, 2020).

Digital payment tools continue to exist and develop in the form of digital wallet applications that provide
various types of payment transactions, storing funds or money for other users. With a digital wallet, we
can carry out various transactions both online and offline. Technological developments have had a big
impact on the development of payment systems in the form of transactions, especially on maintaining
the business continuity of the parties, which has also not spared students, especially USK students, who
in the current era of digitalization have separated from e-wallets to make transactions easier.

In the business world, it has also shifted from offline to online, one of which is Shopee e-commerce
which is of great interest to students and the wider community.

Based on the data above quoted from databoks.katadata.co.id, it shows that Shopee is the e-commerce
with the most site visits in Indonesia throughout the fourth quarter of 2022. In October last year the
Shopee site reached 179 million visits, then rose to 191 million visits in December. The trend of
increasing visits also occurred on the Lazada and BliBli e-commerce sites, with visit data shown in the
graph above. Meanwhile, visits to the Tokopedia and Bukalapak sites have decreased, although the
numbers are still relatively high and are in the top five nationally (SimilarWeb, 2023).

When using e-money, one thing that users might pay attention to is the comfort and convenience
(Rahmawati & Yulina, 2020). Studies show that perceived ease of use has a positive influence on
perceived usefulness (Sumarwan & Tjiptono, 2019). The convenience and advantage offered by e-money
is that users no longer need to carry cash every time they want to make a large payment and also the
user’s financial records will be neatly organized on their smartphone, which can provide a sense of
security and comfort for users during transactions. (Mustofa, et al, 2021). The increase in the number of
e-money users is due to public perception which is influenced by the benefits that the wider community
will use products that are beneficial for everyday life (Ningsih at al, 2021).
Shopee has an online marketplace application to carry out buying and selling transactions more easily,
safely and quickly. Shopee also offers various kinds of goods or products ranging from fashion to daily
necessities. At the end of May 2015 Shopee began to enter the Indonesian market and only started
operating at the end of June 2015 (Setyowati, 2018). Even though it only entered the Indonesian market
in 2015, Shopee has been able to grow quite rapidly. This is evident from Shopee’s total transactions
throughout the third quarter of 2018 which were recorded at US$2.7 billion or around IDR 39.4 trillion
(Setyowati, 2018). In Indonesia, the Shopee application has been downloaded around 74 million times
on Google PlayStore and AppStore (Setyowati, 2018).

One e-wallet or digital wallet that is very popular with the public is ShopeePay. Shopeepay is a feature
with electronic wallet and money services that functions as a transaction or payment method and for
storing refunds. (Irvindia, 2019).

ShopeePay is a platform for making digital payments that is widely used by the wider community. Since
the launch of ShopeePay in August 2020, ShopeePay users have continued to increase. This happens
because the company does not hesitate not to collaborate with many merchants as partners. Whether
it’s just street food, they partner with shops in malls as partners to make payments using ShopeePay.
With the rise of places that offer payments with ShopeePay, coupled with the cashback it offers, it turns
out that it didn’t take long for ShopeePay to dominate the digital wallet market in Indonesia, so that in
the first quarter of 2021 ShopeePay managed to rank first in Indonesia as a payment service made
digitally, then followed by OVO, Gopay and LinkAja. (Utama & Hasanah, 2021). However, in 2023
ShopeePay will experience a significant decline in e-wallet usage, which can be seen in the following
image:

Source : Insight Asia (2023)

Figure 1.2

E-wallet user data for September 2022

Based on the data above quoted in the e-wallet Industry Outlook 2023 report from Insight Asia, the
most users are Gopay with a proportion of 71%, OVO 70%. Meanwhile, the proportion of users of e-
wallet platforms such as Dana, ShopeePay and LinkAja is smaller as seen in the graph (Insight Asia,
2023).

Therefore, the aim of this research is:

1. To test the effect of service quality on brand trust among USK students who use Shopeepay e-wallet
in Banda Aceh.

2. To test perceived value’s influence on brand trust among USK students who use Shopeepay e-wallet
in Banda Aceh.

3. To test how service quality affects the brand image of USK students who use the Shopeepay e-wallet
in Banda Aceh.
4. To test perceived value’s influence on brand image among USK students who use Shopeepay e-wallet
in Banda Aceh.

5. To test how brand image influences brand trust among USK students who use Shopeepay e-wallet in
Banda Aceh.

6. To test how brand image mediates the influence of service quality on brand trust among USK students
who use Shopeepay e-wallet in Banda Aceh.

7. To test how brand image mediates the influence of perceived value on brand trust among USK
students who use Shopeepay e-wallet in Banda Aceh.

LITERATURE REVIEW AND HYPOTHESIS

Service Quality (X1)

Service quality according to Al-Tit (2015) is an assessment by comparing consumer expectations with the
service experience felt by consumers themselves. Good service quality will be able to meet consumer
expectations, and consumers whose expectations are met can be assured that these consumers will feel
satisfied (Majid, 2009: 46).

Service Quality Indicators:

1. Tangibles: namely physical appearance, equipment, personnel and communication materials.

2. Reliability: namely the ability to provide promising services accurately, on time and reliably.

3. Responsiveness: namely the ability to help customers by providing faster service.

4. Empathy: namely trying to know and understand customer needs individually.

5. Assurance: namely the knowledge and friendliness of personnel and the ability of personnel to be
trustworthy and trustworthy (Hetereigonity in Mukarom & Laksanan, 2018).

Perceived Value (X2)

Perceived value is measuring how much consumers assess and feel the benefits are in line with their
desired expectations, compared to the sacrifices to get those benefits (Rismanita, Pangestuti, and
Devita, 2018). Perceived value is a set of benefits that consumers are expected to obtain from the
product, service value, employee value and image value (Kotler, 2003:3).

Product value, for example the enjoyment of the menu offered. Service values include determination in
serving, friendliness. Employee values such as experience, the way they dress, the way they speak, while
the image value is the same as the image received by customers for evaluation, getting used to and
rejecting market offers, including monetary, time, energy and psychological costs (Kotler and Keller,
2009: 136).

Perceived Value Indicator, according to Sweeney & Soutar (2001) in Tjiptono (2014)

1. Emotional Value

2. Social Values
3. Quality/Performance

4. Price/Value for Money

Brand Image (Z)

Kotler & Keller (2009: 403) define brand image as a perception and belief by a consumer/customer, as
reflected by associations embedded in the consumer’s memory, which are always remembered for the
first time when they hear a slogan and are embedded in the consumer’s mind. Brand image (Tjiptono,
2015: 49) describes consumers’ associations and beliefs towards a particular brand. Brand image is an
observation and belief held by consumers. Meanwhile, according to Rangkuti (2012), brand image itself
is a collection of brand associations that are formed and embedded in the minds of consumers.

Brand image is one that consumers will use to evaluate when consumers do not have sufficient
knowledge about the product. So, in this statement there is a concept that consumers will choose, the
product is known both through experience of using it and based on information obtained from sharing
sources.

Brand Image Indicators, according to Keller & Swaminathan (2020: 235)

1. Strength

2. Favorability

3. Uniqueness

Brand Trust (Y)

Brand trust is the will of consumers because of the hope promised by a brand in providing positive
results for consumers (Arista, 2011). According to Murtiningsih, Ridwan & Retnaningsih (2019) trust is a
general hope that can be maintained by a person or individual, where the words of one party to another
can be trusted. Trust is an important variable for developing long-term relationships for several parties
related. Trust is trust as an attitude that shows liking and continuing to use a product or brand (Alif &
Harahap, 2013).

According to Mowen and Minor (2002), consumer trust is all the knowledge that consumers have about
the conclusions made by objects, attributes and benefits. A company that has a good reputation means
its advertisements tend to be trusted by the general public, the public is more likely to accept the
company’s brand, and the company logo is also easier to identify, and in turn consumers become more
loyal (Herbig, Milewcis, & Golden, 1994) .

Brand Trust Indicators, according to Lau & Lee (2007)

1. Brand Characteristics

2. Company Characteristics
3. Brand Consumer Characteristics (Consumer-Brand Characteristics)

The hypothesis of this research is as follows:

H1: Service Quality influences Brand Trust among USK students who use ShopeePay E-Wallet in Banda
Aceh

H2: Perceived Value influences Brand Trust among USK students who use ShoopePay E-Wallet in Banda
Aceh

H3: Service Quality influences the Brand Image of USK students who use ShoopePay E-Wallet in Banda
Aceh

H4: Perceived Value influences Brand Image among USK students who use ShoopePay E-Wallet in Banda
Aceh

H5: Brand Image influences Brand Trust among USK students who use ShoopePay E-Wallet in Banda
Aceh

H6: Brand Image mediates the influence of Service Quality on Brand Trust among USK students who use
ShoopePay E-Wallet in Banda Aceh

H7: Brand Image mediates the influence of Perceived Value on Brand Trust among USK students who
use ShoopePay E-Wallet in Banda Aceh

RESEARCH METHODS

Population and Sample

The population used in the research is all USK students who use the ShoopePay E-Wallet in Banda Aceh.
The sampling technique used in this research is Non-Probability Sampling, which is a sampling technique
that does not give each member of the population the same chance or chance when being selected as a
sample (Sugiono, 2018: 136).

Data collection technique

Data collection techniques are the methods used to collect data. Techniques lead to a method that
shows its use with questionnaires (Questionnaires), interviews, test observations, and documentation
(Kurniawan, 2016). In this research, the method used was by distributing questionnaires to respondents
who were USK students in Banda Aceh and shopping at the Shoope marketplace and by making
payments using ShoopePay. The questionnaire, which consists of several questions, was distributed
using an electronic device in the form of a Google form to make the filling process easier and achieve a
wide reach, according to the variables to be studied, to respondents who met the sample
characteristics.

Analysis Method
In this research, Structural Equation Modeling (SEM) is used as an analysis tool. Structural Equation
Modeling (SEM) is an analysis technique that combines several independent and dependent variables
with the aim of determining the influence of each variable. Apart from that, Structural Equation
Modeling (SEM) is also a tool for explaining or determining factors which path has a stronger influence
and testing the model. In this research, the researcher chose to use the Structural Equation Modeling
(SEM) analysis method which uses Analysis of Moment Structure (AMOS) software because it can help
examine the hypothetical relationship between the two variables and also does not require complicated
syntax or programming during the application process.

Operational Variables

Some of the variables used in this research are as follows:

1. Dependent variable:

• Brand Trust (Y)

2. Independent variables:

• Service Quality (X1)

• Perceived Value (X2)

3. Intervening variables:

• Brand Image (Z)

RESULTS AND DISCUSSION

Respondent Characteristics

Respondent characteristics are the characteristics of the respondents in this research. The
characteristics of respondents in this study include gender, age, income and employment. Based on the
research results, the author then identified the characteristics of the respondents as shown below:

Validity test

Testing the validity of the data in this research was carried out statistically, namely by using the Pearson
product-moment coefficient of correlation test with the help of the iSPSS program. Based on the results
of the analysis, all statements were declared valid because they had a significance level below 5%.
Meanwhile, if done manually, then the correlation value obtained by each statement must be compared
with the product moment correlation critical value where the results show that all statements have a
correlation value above the critical value of i5%, namely above 0.1832 (See Table of Correlation Critical
Values R Product–Moment for n = 128), so that the statements contained in the questionnaire are
significant and have construct validity. Or in statistical terms, there is internal consistency, which means
that these statements measure the same aspect. This means that the data obtained is valid and can be
used for further analysis, as explained in Table 4.7
In the table above, it is explained that all the variables used in this research are all declared valid,
because they have a correlation coefficient above that the variables in this research have met the
requirements for further testing.

Reliability Test

To assess the reliability of the questionnaire used, this research used an irreliability test based on
Cronbach Alpha which is commonly used for testing questionnaires in social science research. This
analysis is used to interpret the correlation between the scales created and the existing variable scales.

The reliability testing intended in this research is to determine the extent to which the measurement
results remain consistent, carried out statistically, namely by calculating the magnitude of Cronbach
Alpha with the help of the iSPSS program. The results are as described in Table 4.8 which shows that the
instrument in this study is reliable because the alpha value is greater than 0.60 (Malhotra, 2011).

Table 4.8

Research Variable Reliability (Alpha)

No.

Variable
Items

Variable

Alpha Value

Note

1.

Service Quality (X1)

0.906

Reliable

2.

Perceived Value (X2)

0.882

Reliable

3.

Brand Image (Z)

0.957

Reliable

4.

Brand Trust (Y)

0.939

Reliable

Source: Primary Data 2023 (processed).

Based on the reliability analysis, it can be seen that the alpha for each respondent’s perception variable
can be seen from several variables, namely the Service Quality variable (X1) obtained an alpha value of
0.906, the Perceived Value variable (X2) obtained an alpha value of 0.882, the Brand Image variable (Z )
obtained an alpha value of 0.957, and the Brand Trust (Y) variable obtained an alpha value of 0.939.
Thus, the reliability measurement of the research variables shows that the reliability measurement
meets Cronbach Alpha credibility where the alpha value is greater than Alpha 0.60.

Hypothesis test

After all assumptions have been met, the next hypothesis test will be carried out as proposed in the
previous chapter. Testing of the 5 research hypotheses was carried out based on the Critical Ratio (CR)
value of a causal relationship from the SEM processing results as in Table 4.13 below.

Table 4.13

Standardized Regression Weight Structural Equational Model

• The influence of Service Quality on Brand Trust through Brand Image

Testing the mediating effect of the Service Quality variable on Brand Trust can be explained as follows:

Brand Image

0.463

Sig. = 0.000

SE = 0.062

0.408

Sig. = 0.000
SE = 0.105

0.282

Sig. = 0.001

SE = 0.090

Service Quality

Brand Trust

Figure 4.5

Testing the Effect of Mediating Service Quality on Brand Trust through Brand Image

From the results of the Sobel test calculation, the result was 3.447 and was significant at α = 0.000. Thus,
Brand Image acts as a mediating variable between Service Quality and Brand Trust. So, because Brand
Image has a significant influence and acts as a mediating variable, Service Quality has a significant
influence on Brand Trust, the role of Brand Image in mediating the relationship between Service Quality
and Brand Trust is partially mediating. Partial mediation means that the relationship between Service
Quality and Brand Trust is not fully mediated by Brand Image.

Based on Figure 4.5, the results of the Sobel values can be seen in Table 4.14 as follows.

Table 4.14

Sobel Test Service Quality Test Results

Towards Brand Trust Through Brand Image

• The influence of Perceived Value on Brand Trust through Brand Image

The research results show that testing the mediating effect of the Perceived Value variable on Brand
Image can be explained as follows:

Brand Image

Perceived Value

Brand Trust

0.383

Sig. = 0.000

SE = 0.106

0.463

Sig. = 0.000

SE = 0.062

0.188

Sig. = 0.026

SE = 0.094

Figure 4.6

Testing the Mediating Effect of Perceived Value on Brand Trust through Brand Image
From the results of the Sobel test calculation, the result was 3.252 and was significant at α = 0.001. Thus,
Brand Image acts as a mediating variable between Perceived Value and Brand Trust. So, because Brand
Image has a significant influence and acts as a mediating variable, Perceived Value has a significant
influence on Brand Trust, the role of Brand Image in mediating the relationship between Perceived
Value and Brand Trust is partially mediating. Partial mediation means that the relationship between
Perceived Value and Brand Trust is not fully mediated by Brand Image, where the influence of Perceived
Value on Brand Trust can be explained indirectly by Brand Image.

Based on Figure 4.6, the results of the Sobel values can be seen in Table 4.15 as follows:

Table 4.15

Sobel Test Perceived Value Test Results

Towards Brand Trust Through Brand Image

Discussion

The Influence of Service Quality on Brand Image

The research results show that Service Quality influences Brand Image. The magnitude of the influence
of Service Quality on Brand Image is 0.408 or 40.8%. This indicates that improving Service Quality will
have a positive and real influence on improving Brand Image.

Service quality is one of the fundamental things, especially in the service sector, good service quality
perceived by consumers will have a positive impact on consumer behavior so that service quality must
be in accordance with consumer expectations. If it meets consumer expectations, the brand image of
the product/service will be very easily accepted, so the possibility of consumers returning to use the
product/service is very large (Wijaya et al, 2020).
The Influence of Perceived Value on Brand Image

The research results show that Perceived Value influences Brand Image. The magnitude of the influence
of Perceived Value on Brand Image is 0.383 or 38.3%. This indicates that the higher the level of
Perceived Value, the greater the Brand Image will increase.

Brand image is a perception of a brand which is a reflection of consumer associations in memory of that
brand (Keller, 1993). Perceived value is a set of benefits that consumers are expected to obtain from the
product, service value, employee value and image value (Kotler, 2003:3). Consumers’ perceptions of the
value of a product/service are very important for business actors. Based on these perceptions, business
actors will create a marketing strategy to increase prices that are acceptable to consumers based on
these perceptions. If the price of a brand is cheaper than the perceived value, consumers will buy
products/services from that brand. Brand image will have high value if the perceived value is built to
provide satisfaction and confidence in the minds of consumers that the brand is different from similar
products/services. Therefore, it can be concluded that perceived value influences brand image as the
results of research by Kayaman and Arasli (2007), Alhaddad (2005) and Heri (2007) in Wijaya et al.
(2020)

The Influence of Service Quality on Brand Trust

The research results show that Service Quality influences Brand Trust. The magnitude of the influence of
Service Quality on Brand Trust is 0.282 or 28.2%. This indicates that the higher the level of Service
Quality, the greater the increase in Brand Trust.

According to Tjiptono (2007) consumer trust in a product/service is a very important factor. High trust in
a product/service provided by consumers is an indicator of the comfort and security felt by consumers
when carrying out transactions. If the quality of service provided by the company is getting better,
consumers will have more confidence in the company and the products provided. Apart from that, the
company is also able to provide services with added value that consumers expect. Trust occurs because
consumers feel satisfaction with the good quality of service they will receive, thus good service quality
will have an impact on trust. According to Sahinet et al. (20011), Han et al. (2015), Haris and Goode
(2004) in Wijaya et al. (2020) brand trust is also influenced by the quality of service received by
consumers.

The Influence of Perceived Value on Brand Trust

The research results show that Perceived Value influences Brand Trust. The magnitude of the influence
of Perceived Value on Brand Trust is 1.88 or 18.8%. This indicates that Perceived Value has an influence
on Brand Trust because the significance value obtained is <0.05.

If consumers receive a good assessment of a product, it can increase trust in the brand (Shirin & Puth,
2011) in (Wijaya et al, 2020). When perceived value has an influence on the brand image of a
product/service, psychologically the belief is built that a product/service provides satisfaction, which
means that the higher the perceived value, the more significant the influence on trust. Based on
research by Oktora and Achyar (2014), Cai et al. (2014), and Roca et al. (2009) shows that perceived
value influences trust.

The Influence of Brand Image on Brand Trust

The research results show that Brand Image influences Brand Trust. The magnitude of the influence of
Brand Image on Brand Trust is 0.463 or 46.3%. This indicates that the higher the Brand Image, the more
direct influence it will have on Brand Trust.

Brand image has relatively more important characteristics in influencing consumer trust in the brand
(Lau and Lee, 1999) in Wijaya et al. (2020). A brand image that has a high value as a result of the
perceived value that is built in the minds of consumers towards the brand will provide a guarantee that
the brand satisfies consumers so that confidence in reusing products/services with that brand is high,
which means that the brand image has an influence on brand confidence/trust. As in the research of
Hanet et al. (2015), Mohamed and Daud (2010), Alhaddad (2015).

The Influence of Service Quality on Brand Trust through Brand Image

From the results of the Sobel test calculation, the result was 3.447 and was significant at α = 0.000. Thus,
Brand Image acts as a mediating variable between Service Quality and Brand Trust. So, because Brand
Image has a significant influence and acts as a mediating variable, Service Quality has a significant
influence on Brand Trust, the role of Brand Image in mediating the relationship between Service Quality
and Brand Trust is partially mediating. Partial mediation means that the relationship between Service
Quality and Brand Trust is not fully mediated by Brand Image.

In general, good service will provide high satisfaction to consumers, as is the research result of Sahin et
al. (2011) and Han et al. (2015), but good service does not necessarily provide consumer satisfaction if
the brand image of the product/service received by consumers does not have high brand value in the
minds of consumers. Building a good image for a product/service is important because of this. Will
provide positive encouragement to the consumer’s decision to use the product/service they like,
therefore a high level of trust in a product/service arises due to the influence of the self-image built into
the consumer. According to Heri (2017) in Wijaya et al. (2020) stated that service quality has an
influence on brand trust through brand image.
The Influence of Perceived Value on Brand Trust through Brand Image

From the results of the Sobel test calculation, the result was 3.252 and was significant at α = 0.001. Thus,
Brand Image acts as a mediating variable between Perceived Value and Brand Trust. So, because Brand
Image has a significant influence and acts as a mediating variable, Perceived Value has a significant
influence on Brand Trust, the role of Brand Image in mediating the relationship between Perceived
Value and Brand Trust is partially mediating. Partial mediation means that the relationship between
Perceived Value and Brand Trust is not fully mediated by Brand Image, where the influence of Perceived
Value on Brand Trust can be explained indirectly by Brand Image.

According to Bauer et al. (2005: 10) brand image is the overall brand association in consumers’ minds
regarding a product or service, giving rise to a perception of the product or service. Perceived Value is a
consumer’s assessment of what is received relative to what is given (Pura, 2005). Perceived value can
also be interpreted as a comparison between the total value consumers receive from a product or
service and what consumers pay. Trust is a consumer’s belief in all promises that will be obtained from a
product or service that is in accordance with consumer expectations as well as trust in a brand
(Chinomona, 2016: 127). Therefore, an image will be built in the minds of consumers with a perception
of the perceived value and must have trust in the brand (Kelvianto, 2019).

CLOSING

Conclusion

Based on the discussion of the research results presented in the previous section, the following
conclusions can be drawn:

1) Service Quality influences the Brand Image of USK Students Using ShopeePay E-Wallet in Banda Aceh.
The magnitude of the influence of service quality on brand image is 40.8%, which indicates that better
service quality will have a positive and real influence on improving brand image.

2) Perceived Value influences the Brand Image of USK Students Using ShopeePay E-Wallet in Banda
Aceh. The magnitude of the influence of perceived value on brand image is 38.3%, which indicates that
the higher the level of perceived value, the greater the brand image will be.

3) Service Quality influences Brand Trust among USK Students Using ShopeePay E-Wallet in Banda Aceh.
The magnitude of the influence of service quality on brand trust is 28.2%, which indicates that the
higher the level of service quality, the greater the increase in brand trust.

4) Perceived Value influences Brand Trust among USK Students Using ShopeePay E-Wallet in Banda
Aceh. The magnitude of the influence of perceived value on brand trust is 18.8%, which indicates that
perceived value has an influence on brand trust because the significance value obtained is <0.05.
5) Brand Image influences Brand Trust among USK Students Using ShopeePay E-Wallet in Banda Aceh.
The magnitude of the influence of brand image on brand trust is 46.3%, which indicates that the higher
the brand image, the more direct influence it will have on brand trust.

6) From the results of the Sobel test calculation, the result was 3.447 and was significant at α = 0.000.
Thus, brand image partially mediates the influence of service quality on brand trust among USK students
who use the ShopeePay e-wallet in Banda Aceh.

7) From the results of the Sobel test calculation, the result was 3.252 and was significant at α = 0.001.
Thus, brand image partially mediates the influence of perceived value on brand trust among USK
students who use the ShopeePay e-wallet in Banda Aceh.

Suggestion

Based on the research results, the suggestions that can be given are:

1. Research that has been carried out on USK students using ShoppePay e-wallet in Banda Aceh can be
seen that the responses of respondents in this research regarding service quality are still low on the
reliability indicator with an average of 3.89. It is hoped that future researchers and Shopeepay can
increase accuracy in making payments using Shopeepay.

2. Research that has been carried out on USK students using ShoppePay e-wallet in Banda Aceh can be
seen that the responses of respondents in this research regarding perceived value are still low on the
social value indicator with an average of 3.52. It is hoped that future researchers will be able to explore
the perceived value variable more deeply because there are still students who do not agree with the
statement of social value indicators.

3. Research that has been carried out on USK students who use the ShoppePay e-wallet in Banda Aceh
can be seen that the responses or responses of respondents in this research regarding brand image on
the favorability indicator with an average of 3.77 are still low. It is hoped that Shopeepay will continue
to maintain and improve the image of Shopeepay so that people do not switch to using other e-wallets.

4. Research that has been carried out on USK students who use the ShoppePay e-wallet in Banda Aceh
can be seen that the responses of respondents in this research regarding brand trust on company
characteristic indicators are good with an average of 4.00. So if future researchers want to conduct
research on ShopeePay objects, they can use the latest theories.

The Influence of Service Quality and Perceived Value on Brand Trust Mediated by Brand Image among
USK Students Using ShopeePay E-Wallet in Banda Aceh

Zalfa Annafisah Daulay

Syiah Kuala University Management Study Program student

e-mail: zalfaannafisahdaulay@gmail.com

Abstract: In the current era of the digital industry, technology is advancing rapidly and becoming
increasingly sophisticated, influencing activities in various aspects of people’s lives, especially in financial
services. This also impacts the transition from offline businesses to online, known as e-commerce. The
rapid development has led to the emergence of financial services or e-wallets. One of the e-commerce
platforms widely favored by students at the University of Syiah Kuala (USK) is Shopee. Shopee has
introduced a digital payment method or e-wallet called ShopeePay. The research problem formulation is
how service quality, perceived value, and brand image affect brand trust among USK students using the
ShopeePay e-wallet in Banda Aceh. The research objective is to examine the influence of service quality,
perceived value, and brand image on brand trust among USK students using the ShopeePay e-wallet in
Banda Aceh. The research findings indicate that service quality, perceived value, and brand image have
an impact on brand trust, and brand image partially mediates the influence of service quality on brand
trust. For future researchers, it is recommended to conduct more in-depth research on service quality,
perceived value, brand image, and brand trust.

Keywords: Service Quality, Perceived Value, Brand Image, and Brand Trust.

Abstract: In the current digital industrial era, technology is moving fast and becoming increasingly
sophisticated which will influence activities in various aspects of people’s lives, especially in financial
services. This also has an impact on offline businesses becoming online, which we know as e-commerce.
And very rapid development is able to provide financial services or e-wallets. One e-commerce that is
very popular among USK students is Shopee. Shopee is able to present a digital payment method or e-
wallet called ShopeePay. The formulation of the research problem is how service quality, perceived
value, brand image influence brand trust among USK students who use the ShopeePay e-wallet in Banda
Aceh. The aim of the research is to test service quality, perceived value, brand image and influence on
brand trust among USK students who use the ShopeePay e-wallet in Banda Aceh. The results of the
research are that service quality, perceived value, brand image influence brand trust and brand image
partially mediates the influence of service quality on brand trust. For future researchers, it is hoped that
researchers can conduct more in-depth research regarding service quality, perceived value, brand image
and brand trust.

Keywords: Service Quality, Perceived Value, Brand Image and Brand Trust.