Factors influencing the choice of payment methods when purchasing on online sales platforms –the case of consumers in Hanoi city

Abstract

The study explores the factors affecting customers' choice of payment method when shopping on online sales platforms. 429 valid responses were collected by random selection and data analysis using SmartPLS 3 software. The results show that the decision to choose payment method of customers shopping on online sales platforms in Hanoi City is influenced by financial benefits (β = 0,277), social influence (β = 0,262), habit (β = 0,261), and perceived usefulness (β = 0,173) respectively. Notably, ease of use (β = 0,054) and perceived security (β = -0,043) have no relevant relationship with the choice of payment method in this survey. This study serves as a reference for service providers and state management agencies in promoting digital payments on online business platforms.