Exploring factors that affect acceptance of using e-wallet/ fin-tech apps (Momo/Timo/Zalo Pay)* of gen-Y-customers in Ho Chi Minh City

Abstract

Recent time, electronic payment has been emerged as a supreme key, results in being developed more throughout the world in the next years as a prediction. Fiercely, an electronic wallet is the most remarkable one in the automated payment system as it helps transaction between seller and buyer smoothly. On the other hand, this kind of payment is not far familiar to Vietnamese and cannot wholly replace cash although it has been intensely paid attention and invested sharply from foreign. Therefore, this paper is an investigation to find out factors which uplift customer especially millennial to use e-wallet in Ho Chi Minh. To make this thing came out, the authors used both quantitative and qualitative analyses with 388 samples. In particular, the authors originally applied the unified theory of acceptance and use of technology (UTAUT) model with three constructs: Performance Expectancy, Effort Expectancy, and Social Influence and continuously expand it thee more constructs: Trust, Perceived Enjoyment, and Reward. Then apply their effects to discover factors that affect customer acceptance to try e-wallet. From this model, researchers had the closest answer of how elements of demographic (gender, income, occupation, age) and the factors which contribute to customer intention to utilize e-wallet as well as had appropriate suggestions to improve customer acceptance. Then, the research team will give proper suggestions to improve customer acceptance. In another word, the authors hope that the results of this research paper will contribute to helping service providers have better understand the importance of factors on approaching and building a relationship with customers as well as gain more knowledge about the role of those elements to planning out suitable strategies to increase productivity and profits.