FACTORS AFFECTING PEOPLE'S DECISION TO USE ELECTRONIC PAYMENT SERVICES HO CHI MINH CITY

Abstract

The Industrial Revolution 4.0 is radically changing every aspect of every economy including Vietnam. In this revolution, the explosion of information technology has paved the way for many development industries, of which e-commerce is one of the industries with the strongest potential for development. However, the actual implementation of electronic payment services still faces many difficulties when the number of customers
Chuyên san Phát triển Khoa học và Công nghệ số 7(2), 2021
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accepting to use this service is small. This paper examines the factors influencing people's decision to use electronic payment services in Ho Chi Minh City. Research results from 1231 surveys with people in 7 districts of Ho Chi Minh City using the logit regression model showed that there are 9 factors affecting the decision to use electronic payment services. According to the level of influence decreasing: (1) Subjective standard; (2) Safety and confidentiality; (3) Advertising activities of enterprises; (4) Easy to use; (5) Trust; (6) Education level; (7) Recognize the usefulness; (8) Income; (9) Age. Based on the results, the authors have proposed a number of solutions to improve the ability of people to receive and expand electronic payment services in Ho Chi Minh City, including: (1) Raise subjective standards to increase the decision to use electronic payment services; (2) Improve information security and reduce risks for consumers; (3) Enhance promotion, enhance the image of the business; (4) Simplify the electronic payment process; (5) Improving consumer confidence; (6) Flexible combination of solutions to suit each customer base on educational level; (7) Enhancing the value of benefits for consumers; (8) Exploiting different segments of people's income; (9) Focus on developing electronic payment services thanks to the young population structure of Ho Chi Minh City.
Key words: Electronic payment services; Decision to use electronic payment services