Determinants influencing young people's intention to use e-wallets in Vietnam

Abstract

Payment by e-wallet is an inevitable trend and a driving force in the economic development of the entire country. An e-wallet securely stores users' payment information in a compact form. Thus, it dramatically reduces the need to carry physical wallets. Companies that need to collect consumer data for their marketing needs can benefit greatly from e-wallets. This study identifies and ranks factors influencing young people's intention to use e-wallets in Vietnam. This study is structured as follows: Part 1 is a general introduction; Part 2 summarizes the studies related to the research topic; Part 3 is the proposed model and hypotheses; Part 4 presents the research methodology; Part 5 presents the research results and part 6 discusses the research results and gives some recommendations. Through a literature review of related research, the authors proposed a model with 4 independent variables affecting the dependent variable, which is the intention to use e-wallets for young people. In addition, four hypotheses were also formed through the research overview. This study was investigated through a questionnaire, which randomly selected a sample of 316 young people with Vietnamese nationality. Cronbach's Alpha, EFA, and regression models were used to explore the impact of each independent variable. Research results show that the three factors Perceived Usefulness (HI), Perceived Risk and Security (RR), and Social Influence (XH) have a significant influence on intention to use. e-wallets among young people, meanwhile: Perceived ease of use (DSD) is not, which differs from most previous studies. Based on the findings, the authors have proposed 3 recommendations for businesses to develop e-wallet services to increase young people's intention to use this product.