Determinants of behavior of using mobile payment services- The case of Banking University Ho Chi Minh City

Abstract

Technology is growing and being applied in all fields. Particularly in the finance sector, technologies can be mentioned as digital banking or mobile payment. This article aims to investigate about the factors affecting the use of mobile payment services. The survey was conducted on 201 students from The Banking University Ho Chi Minh City (BUH) in July 2021 by answering the 5-level Likert scale questionnaires. The proposed research model is built based on Unified Theory of Acceptance and Use of Technology (UTAUT) and Theory of Perceived Risk (TPR) theoretical foundation combined with previous studies. The results show that 06 factors are affecting the behavior of using mobile payment services ranked by decreasing impact level, which are (i) promotions, (ii) perceived ease of use, (iii) perceived usefulness, (iv) perceived security, (v) perceived risk, and finally (vi) social influence. From the results of this study, the article proposes some recommendations to improve awareness of mobile payment, thereby increasing the use of payment services.