Perceived risk and intention to use digital financial services of Vietnamese youth

Abstract

This research evaluates the impact of perceived risk and intention to use Digital Financial Services (DFS) among young people in Vietnam - relying on the UTAUT model and TPR theory. We used qualitative methods to develop questionnaires and scales and quantitative approaches to process 1,006 observations between 18 and 35. SPSS26 and AMOS24 software were used for data processing. The results show that “Security risk” does not affect the “Perceived Risk” of the youth. “Privacy risk” hurts the “Perceived Risk” of users of DFS services. The remaining factors, “Accidents,” “Financial risk,” “Social risk,” and “Psychological risk,” positively influence the “Perceived Risk”. Finally, “Perceived Risk” adversely affects the “Intention to use” DFS among the youth. Based on the research findings, we get some policy implications for policy-makers and financial institutions.