The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia

Studies Management and Finance Economics, of Journal 0504-2644 (online): ISSN 0490,-2644 (print): ISSN 5202 November 11 Issue 80 Volume 8.317 Factor: Impact ,40-i11-10.47191/jefms/v8 DOI: Article 5237-7515 No: Page JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7515 The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia Esy Tiara Vinata1, Ahmad Maulana2, Aslamia Rosa3 1,2,3University of Sriwijaya Palembang, Indonesia ABSTRACT: The purpose of this study is to obtain empirical evidence by knowing and analyzing the influence of service quality with trust as a moderating variable, security and risk perception on purchasing decisions at Toko Pedia.The population in this study was all residents of South Sumatra who had made online purchases through Tokopedia. Therefore, the exact population size is unknown. The minimum number of respondents for this study was 150, which was considered sufficiently representative of the population being studied as it met the minimum sample size. Moderated Regression Analysis (MRA) was used for analysis through t-testing and F-testing. The results showedService Quality (X1) and Security (X2) positively and significantly increase consumer purchasing decisions. Although it sounds contradictory, Risk Perception (X3) also shows a positive and significant influence. The Trust (M) variable simultaneously strengthens the relationship between Service Quality (X1), Security (X2), and Risk Perception (X3) on Purchasing Decisions, but this moderating effect is not partially significant. Overall, improved service, security assurance, and good risk management on the Tokopedia platform are key factors in increasing consumer interest and purchasing decisions. KEYWORDS: Service Quality, Trust, Security, Risk Perception, Purchasing Decision INTRODUCTION Since its founding in 2009, Tokopedia has grown into one of the largest marketplaces with millions of active sellers and hundreds of millions of users across various regions (Hidayat et al., 2023). This platform has become a primary platform for MSMEs to market their products online, thereby expanding their market share and increasing the competitiveness of small businesses both nationally and internationally. However, Tokopedia's journey has not always been smooth sailing. In early March 2020, the platform faced a crucial incident in the form of a user data leak affecting 91 million accounts. The leaked personal information was then traded on the Dark Web for around US$5,000 (equivalent to Rp74 million). This data breach had a serious impact on consumers, as personal data such as full names, email addresses, and passwords were stored in a large database that was successfully accessed by irresponsible parties (Ramiz Afif Naufal, 2020). Tokopedia is also suspected of violating the provisions of Article 2 paragraph (2) and Article 28 letter c of the Regulation of the Minister of Communication and Information Technology Number 20 of 2019 which regulates the obligation of transparency in disclosing data leak incidents. Tokopedia's business development continued with an acquisition process announced on May 17, 2021, in which the company merged with Gojek. The merger resulted in the establishment of PT GoTo, which combines e-commerce, on-demand services, financial services, and various other digital sectors. Tokopedia (PT GoTo Gojek Tokopedia) then collaborated with TikTok (TikTok Pte. Ltd.) to issue new shares, which were acquired by TikTok or a designated subsidiary. In this case, public concerns arose regarding the management of e-commerce transaction data, which could be used for commercial and algorithmic purposes, thereby reducing consumer autonomy. In addition to the risk and security of personal data, it is important to examine how merger dynamics influence consumer behavior in online purchasing decisions. Service quality is closely related to consumer trust. Fahrevi and Satrio (2018), Fatimah and Nurtantiono (2022), and Fajrin and Gunadi (2022) found that service quality has a positive and significant influence on purchasing decisions. Mayer et al. (1995)states that trust is formed through three main dimensions: ability, benevolence, and integrity. In the context of online transactions, trust plays a crucial role because consumers do not interact directly with sellers. Trust in e-commerce is influenced not solely by technical security aspects, but also by clarity of product information, transparency of refund mechanisms, and consumer protection from fraudulent practices by sellers (Aulia & Faslah, 2025). The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7516 In this study, trust functions as a moderating variable capable of strengthening or weakening the relationship between service quality and purchasing decisions. This aspect of trust cannot be separated from the issue of security in digital transactions. According to Zhang et al. (2023), perceptions of security and risk critically influence online consumer trust and purchase intentions. Agustiningrum and Andjarwati (2021) found that security factors have a positive and significant relationship in influencing purchasing decisions. This aligns with the findings of Puanda and Rahmidani (2021), who stated that security variables contribute positively to online purchasing decisions through e-commerce applications. These findings are reinforced by research by Ilmiyah and Krishernawan (2020), which shows that consumers obtain important information regarding products in the trading context in Mokerto. However, the results of research by Desky et al. (2022) differ, showing that security factors do not significantly influence e-commerce consumer purchasing decisions in Lhokseumawe. If security is understood as an objective aspect, then risk perception emphasizes the subjective perspective of consumers. Istiqomah et al. (2019) stated that the higher the perceived risk, the lower the online purchasing intention tends to be. Based on the above description, the researcher concludes that TikTok's acquisition of Tokopedia not only reflects a global business strategy but also raises discussions regarding social impact, personal data protection, and national regulations that require attention. Theoretically, online purchasing decisions are influenced by service quality, trustworthiness, security aspects, and consumer risk perception, with trust acting as a moderating variable that strengthens the relationship between these factors. Therefore, the problem that will be discussed in this study is how does the quality of service influence with trust as a moderating variable on purchasing decisions in Tokopedia? and How does the quality of service, security and risk perception influence purchasing decisions in Tokopedia? The objectives to be achieved in this study are to obtain empirical evidence by knowing and analyzing the influence of quality of service with trust as a moderating variable on purchasing decisions in Tokopedia and the influence of quality of service, security and risk perception on purchasing decisions in Tokopedia. LITERATURE REVIEW Quality of Service Service quality is a concept from the marketing strategy framework that is based on the idea that customers have expectations and companies try to meet those expectations by satisfying customer needs and desires.(Tefera & Govender, 2017). When providing service to customers, customers who are dissatisfied with the service they receive tend to provide negative information to others about the service they receive.(Richadinata et al., 2024). Trust According toMP Sari et al (2022)Trust is the belief that buyers trust a seller's ability to secure payment transactions and ensure prompt processing. Trust is built on a consumer's previous experience using a product, through evaluations of product quality, service, and ease of use. These evaluations create trust in the product that has been previously experienced.(Nursukma, 2021). Security According toKusuma (2019)Security is the ability of an online store to manage and monitor the security of transaction data. Consumers expect security to include protection of consumer identity privacy, online transaction security, protection against misuse of consumer data, and proof of delivery. According toMalau (2017), security is the ability of online stores to control and maintain the security of data transactions. Perceived Risk According toKotler & Keller Lane (2018), risk perception is defined as a consumer's perception of the uncertainty and possible negative consequences of purchasing a product or service. According toWai et al (2020)Risk perception is a combination of negative consequences and uncertainty that influences consumer purchasing decisions.(Widhiaswara & Soesanto, 2020)found that risk perception is a construct that measures beliefs about uncertainty regarding unpleasant possibilities. Purchasing Decision According toKotler & Armstrong (2018), purchasing decisions are individual activities that are directly related to the decision to purchase products offered by sellers. According toAndriani & Nalurita (2021)A purchasing decision is a decision to choose an action from two or more alternatives, meaning that someone who wants to make a purchase must have several alternative choices. The outcome of a purchasing decision depends on how the decision-making process is carried out.(Arianty & Andira, 2021),(Nurfauzi et al., 2023)And(Arfah, 2022)assumes that individual purchasing decisions are a pattern of compromises that combine data to evaluate the choice between two choice practices and decide on one of them. The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7517 Research Conceptual Framework Based on the description above, a framework for thinking can be developed for this research as follows: Figure 1. Research Conceptual Framework Hypothesis Service quality is a key factor determining consumer satisfaction and purchasing decisions, both in traditional and digital business contexts. In e-commerce, service quality reflects the extent to which a platform or seller is able to meet customers' needs and expectations, and provide a satisfying transaction experience. According to (Handayani & Prasetyo, 2023), service quality is the gap between consumers' expectations of ideal service and their perceptions of the service they receive. If the service received exceeds expectations, consumers will be satisfied and likely to make repeat purchases. In the context of online transactions, service quality encompasses not only direct interactions between sellers and buyers but also various digital aspects such as website ease of use, seller response speed, product information accuracy, delivery system clarity, and reliability in resolving customer issues. (Kusumawati et al., 2022) state that e-service quality is a crucial dimension determining consumers' perceptions of the reliability and professionalism of an e-commerce platform. Consumers tend to be more trusting and make purchasing decisions when they perceive prompt, courteous, and professional service. For example, sellers who respond quickly to customer inquiries, provide clear product descriptions, and follow up on complaints with satisfactory solutions will create a positive impression of the platform. Conversely, slow service, incomplete product information, or poor complaint handling can discourage consumers from repeat transactions. H1: Service quality has a positive effect on purchasing decisions. Security is a crucial factor in determining consumer purchasing decisions on e-commerce platforms. In the context of online transactions, security encompasses various aspects, such as the protection of consumers' personal data, the security of payment systems, and the reliability of the transaction mechanisms used by service providers. According to (Aulia & Ronny 2022), perceived security is defined as the extent to which consumers believe that using e-commerce technology will not pose a risk to their personal or financial information. When consumers are aware of a clear and transparent protection system, they feel more comfortable and confident that their transactions will be secure. This ultimately contributes to increased purchasing decisions. Empirical research also supports a positive relationship between security and purchasing decisions. Research results (Hurum Azzahra 2024) indicate that security has a significant and positive influence on consumer purchasing decisions. The higher the level of perceived security, the more likely consumers are to make online purchases. H2 : Security has a positive influence on purchasing decisions Risk perception is a psychological factor that significantly influences consumer decision-making, particularly in the context of online purchases. In digital transactions, consumers cannot see, touch, or try the product directly before making a purchase, creating uncertainty about the outcome of the transaction. This uncertainty is the source of risk perception. Risk perception can be defined as the level of concern or consumer perception of potential losses that may occur as a result of a purchase decision (Annisa, R., & Daulay, MYI 2023). These risks can include financial risk, product risk, privacy risk, delivery risk, or social risk, which can reduce consumers' willingness to transact online. Several recent studies have confirmed the negative relationship between risk perception and online purchasing decisions. (Salim et al. 2023) found that risk perception has a negative and significant influence on purchasing decisions on e-commerce platforms. (Wulandari et al. 2025) also confirmed that risk perception is a key factor influencing purchasing decisions on Shopee Indonesia. H3 : Risk perception has a negative effect on purchasing decisions The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7518 Trust plays a crucial role in strengthening the relationship between factors such as service quality, security, and perceived risk on purchasing decisions. Trust can be defined as consumer confidence that a seller or e-commerce platform possesses integrity, competence, and honesty in conducting transactions. According to (Nawangsari & Pramesti 2017), companies that consistently improve service quality can strengthen consumer trust. This trust then becomes the basis for consumers to feel safe and comfortable in online transactions. Widianita (2020) shows that increased consumer trust can be achieved through fast service, an easily accessible website, and a secure security system. Meanwhile, (Naufal et al. 2022) found that trust can moderate the influence of service quality on purchasing decisions in e-commerce, where high trust strengthens the positive effect of service quality on purchasing decisions. H4: Trust moderates the relationship between service quality, security, and risk perception on purchasing decisions on Tokopedia. RESEARCH METHODOLOGY The population in this study was all residents of South Sumatra who had made online purchases through Tokopedia. Therefore, the exact population size is unknown. The number of respondents for this study was 150, which is considered sufficiently representative of the population being studied as it meets the minimum sample size. Moderating variables were tested using multiple linear regression using the eViews application, with hypothesis testing using t-tests and F-tests. RESULTS AND DISCUSSION Classical Assumption Test 1. Normality Test (Jarque-Bera Test) 0 5 10 15 20 25 30 35 -1.5 -1.0 -0.5 0.0 0.5 1.0 Series: Residuals Sample 1 150 Observations 150 Mean -4.99e-16 Median -0.057194 Maximum 1.234791 Minimum -1.514904 Std. Dev. 0.384697 Skewness -0.064924 Kurtosis 5.130204 Jarque-Bera 28.46644 Probability 0.000001 Figure 2. Normality Test Results The histogram shows that most of the residual values are concentrated around the mean (mean ≈ 0), with a slight deviation to the left, as indicated by the skewness value of -0.064924, indicating a slightly left-skewed distribution. The kurtosis value of 5.130204 also indicates that the distribution has a higher peak than the normal distribution (leptokurtic). Thus, the results of this test indicate that the residual data in this study do not fully meet the assumption of normality. However, because the sample size is quite large (n = 150), this small deviation from normality is still tolerable based on the Central Limit Theorem, so that the regression model can still be used for inferential analysis and further hypothesis testing validly. 2. Multicollinearity Test Table 1. Multicollinearity Test Results Variable Coefficient Variance Uncentered VIF Centered VIF Trust 0.018381 18.12992 NA Quality of Service 0.004552 73.63671 5.103418 Security 0.006851 113.7479 6.926322 Perceived Risk 0.003320 54.62225 3.572888 Purchasing Decision 0.001826 26.12990 2.020257 The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7519 Based on Table 1, it can be explained that all independent variables (Quality of Service, Security, and Perceived Risk) have Centered VIF values <10, amounting to 5.10, 6.93, and 3.57, respectively. These values are below the threshold of 10, so there are no symptoms of serious multicollinearity between the independent variables in the research model. The Purchase Decision variable (Y) has a Centered VIF value of 2.02, also far below the critical limit, which indicates that the relationship between the dependent and independent variables is still within reasonable tolerance limits. The Trust variable (M) as a moderating variable shows a NA value, which is methodologically acceptable in a moderated interaction model. Thus, it can be concluded that the regression model of this study is free from symptoms of multicollinearity and is suitable for further regression testing. 2. Autocorrelation Test Table 2. Autocorrelation Test Results Breusch-Godfrey Serial Correlation LM Test: Null hypothesis: No serial correlation at up to 2 lags F-statistic 0.589087 Prob. F(2,143) 0.5562 Obs*R-squared 1.225748 Chi-Square Prob.(2) 0.5418 The F-statistic Prob. value is 0.5562 and the Chi-Square Prob. value is 0.5418, both of which are greater than the 0.05 significance level. Thus, H₀ is accepted, meaning there is no autocorrelation in the regression model. This result indicates that the residual value from one observation is not correlated with the residual value from another observation. In other words, the regression model has a random and temporally independent residual distribution. Multiple Linear Regression Analysis Table 3. Test ResultsMultiple Linear Regression Variable Coefficient Std. Error t-Statistic Prob. Trust 0.114446 0.135575 0.844149 0.4000 Quality of Service 0.331443 0.067468 4.912598 0.0000 Security 0.284699 0.082769 3.439695 0.0008 Perceived Risk 0.159191 0.057624 2.762602 0.0065 Purchasing Decision 0.213216 0.042735 4.989324 0.0000 R-squared 0.856649 Adjusted R-squared 0.852694 SE of regression 0.389967 Sum squared residual 22.05082 Log likelihood -69.04438 F-statistic 216.6255 F Table 2.434065 Prob(F-statistic) 0.000000 The results of the regression analysis show that service quality has a positive regression coefficient of 0.331443 with a probability value of 0.0000 (p < 0.01), which is substantially below the significance threshold of α = 0.05. This finding indicates that service quality has a positive and statistically significant effect on consumer purchasing decisions on the Tokopedia platform. The results of this study are in line with the Service Quality Theory developed by Parasuraman, Zeithaml, and Berry (1988) in their seminal work "SERVQUAL: A Multiple-Item Scale for Measuring Consumer Perceptions of Service Quality," which emphasizes that service quality is a fundamental determinant in shaping consumer behavior and transactional decisions. The SERVQUAL model identifies five dimensions of service quality: reliability, responsiveness, assurance, empathy, and tangibles (Parasuraman et al., 1988). In the context of e-commerce, service quality dimensions have been adapted to encompass digital aspects such as system reliability, platform responsiveness to consumer complaints, guaranteed transaction security, empathy in handling problems, and a tangible and user-friendly interface (Zeithaml et al., 2002). Research conducted by Alam and Yasin (2010) demonstrated that e-commerce service quality, including website design, reliability, responsiveness, and trust, significantly influences online customer satisfaction and loyalty. A meta-analysis by Blut et al. (2015), which analyzed 168 studies, found that e-service quality has a strong effect on customer satisfaction (β = 0.63) and behavioral intentions (β = 0.38). The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7520 The results of the regression analysis show that the security variable has a positive regression coefficient of 0.284699 with a probability value of 0.0008 (p < 0.01), which is significantly below the alpha threshold of 0.05. This finding indicates that security has a positive and statistically significant influence on consumer purchasing decisions on Tokopedia. The Technology Acceptance Model (TAM) was developed by Davis (1989), which was later expanded with the security construct by various researchers. Pavlou (2003) integrated perceived risk and trust into the TAM for the e-commerce context, stating that security perception is a critical factor in the adoption of electronic commerce technology. This extended model shows that perceived security directly influences perceived ease of use and indirectly influences intention to transact through trust (Pavlou, 2003). Research by Sharma et al. (2022) shows that data breach incidents can reduce customer trust by up to 35% in the short term, but effective remediation efforts can restore trust within 12–18 months. A study by Zhang et al. (2020) on e-commerce platforms in China found that perceived security had a significant direct effect on purchase intention (β = 0.31, p < 0.01), with a stronger effect on first-time buyers than repeat customers. Cross-cultural research by Kaur et al. (2020) comparing India, Malaysia, and Singapore showed that security concerns are a major barrier to online shopping, with path coefficients ranging from 0.28 to 0.42 depending on the cultural context. The results of the regression analysis show that risk perception has a positive regression coefficient of 0.159191 with a probability value of 0.0065 (p < 0.01), which is below the significance threshold of α = 0.05. This finding indicates that risk perception has a positive and statistically significant effect on consumer purchasing decisions on Tokopedia. Perceived Risk Theory proposed by Bauer (1960) states that high risk perception tends to inhibit purchasing behavior because consumers try to minimize uncertainty in transactions. Stone and Grønhaug (1993) classify perceived risk in e-commerce into six dimensions: financial risk, performance risk, time risk, psychological risk, social risk, and privacy risk. Martins et al. (2019) found a curvilinear (U-shaped) effect between perceived risk and purchase behavior in e-commerce, where moderate levels of risk awareness actually increase information processing and result in more informed decisions. Research by Ariffin et al. (2018) in Malaysia showed that on platforms with robust buyer protection mechanisms, perceived risk was not negatively correlated with purchase intention, but rather mediated the positive relationship between product involvement and purchase decision (β = 0.21, p < 0.05). The results of the regression analysis show that the moderating variable trust has a coefficient of 0.114446 with a probability value of 0.4000, which is substantially greater than the significance threshold of α = 0.05. This finding indicates that trust does not show a statistically significant moderating effect in the research model. Theoretically, this result seems contradictory to the TrustCommitment Theory developed by Morgan and Hunt (1994), and the Social Exchange Theory by Blau (1964), which emphasizes the central role of trust as a mediator or moderator in transactional relationships. In the context of e-commerce, Gefen et al. (2003) identified trust as a key mediating variable between perceived usefulness, perceived ease of use, and intended behavior in the integrated TAM-trust model. However, the insignificant moderating effect of trust can be explained through several theoretical and empirical perspectives. First, the Institutional Trust Theory by McKnight et al. (2002) distinguishes between interpersonal trust (trust in sellers) and institutional trust (trust in platform structures). In established platforms like Tokopedia, institutional trust may have become a given baseline expectation rather than a moderating variable. Tokopedia, as one of the largest e-commerce platforms in Indonesia with over 14 million active sellers and 100 million products, has built a strong institutional reputation, resulting in stable and homogeneous consumer trust in the platform. Second, this phenomenon can be interpreted through the lens of Cognitive Consistency Theory, which states that consumers who have had positive transactional experiences with the platform—as the research criteria required at least two transactions in the past year—tend to have relatively homogeneous and stable levels of trust. This homogeneity of trust results in limited variation in the moderating construct, which in turn reduces statistical power to detect significant moderating effects. The research data shows that 53.3% of respondents make transactions 3–5 times per month, indicating a well-established and relatively constant level of trust among respondents. Third, the demographic characteristics of respondents provide additional explanation. The study respondents were predominantly from the productive age group 18–35 years old (78.7%), with a high level of education—the majority with a bachelor's degree (48.0%)— and good digital literacy. These demographic characteristics indicate that the study sample represents sophisticated users who make purchasing decisions based on rational evaluations of objective platform attributes, such as service quality, system security, and risk assessments, rather than relying primarily on affective trust.The dominance of cognitive evaluation over affective trust in the decision-making process may explain why trust does not function as a significant moderator in the model. Research conducted by Fang et al. (2020) on Alibaba and Taobao found that on established platforms with high market share, trust acts as a hygiene factor (necessary but not sufficient) rather than a significant moderator, with a non-significant moderating effect (β = 0.09, p = 0.234). Similarly, research by Ponte et al. (2021) on Amazon and eBay showed that trust effects diminish over time as the platform matures, with the moderating effect becoming non-significant after the platform has been operating for more than 10 years. Tokopedia, founded in 2009 and operating for more than 15 years, can be categorized as a mature platform with similar characteristics. The Influence of Service Quality with Trust as a Moderating Variable, Security and Perceived Risk on Purchasing Decisions at Toko Pedia JEFMS, Volume 08 Issue 11 November 2025 www.ijefm.co.in Page 7521 CONCLUSIONS, LIMITATIONS, AND SUGGESTIONS This study shows that Service Quality and Security at Tokopedia have a positive and significant influence on Purchase Decisions. Risk Perception was also found to have a positive and significant influence. Although Trust simultaneously strengthened all three relationships on Purchase Decisions, its partial moderating effect was not significant. 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