Factors that affect the intention to use e wallets of university students in ho chi minh city

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MINISTRY OF EDUCATION AND TRAINING
UEH UNIVERSITY
COLLEGE OF BUSINESS

FACTORS THAT AFFECT THE INTENTION
TO USE E-WALLETS OF UNIVERSITY
STUDENTS IN HO CHI MINH CITY

Ho Chi Minh City, 2022


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MINISTRY OF EDUCATION AND TRAINING
UEH UNIVERSITY
COLLEGE OF BUSINESS

FACTORS THAT AFFECT THE INTENTION
TO USE E-WALLETS OF UNIVERSITY
STUDENTS IN HO CHI MINH CITY
Specialization: COMMERCIAL BUSINESS
Supervisor: Master HO XUAN HUONG
Authors

Student ID

Email

Nguyen Thi Thuy Hang

312010218



Tran Ngoc Khanh Huyen

312010218



Le Huynh Y Thuong

312010243



Pham Tran Khanh Tra

312010221



Nguyen Thi Kim Phung

312010219



Ho Chi Minh City, 2022

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ACKNOWLEDGEMENTS
We would like to express our deepest gratitude to the teachers of UEH University for
creating conditions for us to study Marketing Research to gain knowledge as a prerequisite
for future academic research. Especially, we would like to express our sincerest thanks to
our teacher, Mr. Ho Xuan Huong, who wholeheartedly taught, supported and directly
guided us during the course of our thesis.
Contemporarily, we would like to express our deep gratitude to all the students who
participated in our group's survey, so that we can apply the knowledge we have learned at
school and complete the research well.
However, due to limited time and knowledge, as well as limited theoretical and practical
experience, the research cannot avoid shortcomings. It is our pleasure to receive comments
from you. Once again, we would like to express our deepest and most sincere thanks.


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ABSTRACT
The factors that impact a consumer's attitude and intention to use mobile wallets are
investigated in this study, which specifically focuses on university students in Ho Chi
Minh City, Vietnam. Using the unified theory of acceptance and use of technology
(UTAUT), this study explores the impact of Perceived Usefulness, Perceived Ease Of Use,
Trust, Security, Facilitating Conditions, Lifestyle Compatibility, and Attitude on the
Intention to use an e-wallet among university students in Ho Chi Minh City. For this study,
the technology acceptance model (TAM) was selected to build the conceptual framework.
A Google Form was used to conduct the citywide primary survey, which gathered data
from 303 respondents. Partial least square structural equation modeling (PLS-SEM) was

used to examine the gathered data. As a result, customer’s attitude and intention toward
mobile wallets are influenced by characteristics such as perceived ease of use (PEOU),
perceived usefulness (PU), trust, security, facilitating conditions, and lifestyle
compatibility. 7 of the 17 hypotheses submitted were approved. Usefulness and trust were
strongly impacted by perceived ease of use, security and facilitating conditions. In
addition, attitude and intention were significantly influenced by lifestyle compatibility and
facilitating conditions. The importance of security and trust in deciding trust has been
discovered.
Keywords: Ho Chi Minh City; intention to use; mobile wallet; e-wallet


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LIST OF ABBREVIATIONS
___________________________________________________________________
Abbreviation
Full word
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
PEOU
Perceived Ease Of Use
PU

Perceived Usefulness

PS

Perceived Security

PT

Perceived Trust

FC

Facilitating Conditions

LC

Lifestyle Compatibility

E-wallet

Electronic wallet

E-banking

Electronic banking

M-wallet

Mobile wallet

M-banking

Mobile banking

PLS-SEM

Partial Least Squares SEM

¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯


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TABLE OF CONTENTS
ACKNOWLEDGEMENTS
ABSTRACT
LIST OF ABBREVIATIONS
LIST OF TABLES, CHARTS, FIGURES

3
4
5
8

CHAPTER 1. INTRODUCTION

9

1.1 Reasons for choosing research thesis

9

1.2 Research objectives

10

1.3 Research subject

11

1.4 Research methods

11

1.5 Scope of research

12

1.6 Limitations

12

1.7 Research outline

12

CHAPTER 2. THEORETICAL BASIS

14

2.1 Relevant theories

14

2.1.1 Technology acceptance model (TAM)

14

2.1.2 Unified theory of acceptance and use of technology (UTAUT)

14

2.2 Overview of relevant studies

16

2.3 Hypotheses development and research model

23

2.3.1 The relationship between PEOU and PU

23

2.3.3 The relationship between PEOU and Attitude

24

2.3.4 The relationship between PU and Trust

24

2.3.5 The relationship between PU and Intention

25

2.3.6 The relationship between PU and Attitude

25

2.3.7 The relationship between PS and Trust

25

2.3.8 The relationship between PS and Intention

26

2.3.9 The relationship between PS and Attitude

27

2.3.10 The relationship between FC and PU

27

2.3.11 The relationship between FC and Attitude

27

2.3.12 The relationship between FC and Intention

28

2.3.13 The relationship between Trust and Attitude

28

2.3.14 The relationship between Trust and Intention

29

2.3.15 The relationship between LC and Attitude

29

2.3.16 The relationship between LC and Intention

30

2.3.17 The relationship between Attitude and Intention

30


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2.3.18 Research model

31

2.3.19 Research gap

31

CHAPTER 3. RESEARCH METHOD

33

3.1 Research process

33

3.1.1 The pre-test stage

34

3.1.2 Quantitative research

35

3.1.2.1 Data collection

35

3.1.2.2 Data analysis methods

35

3.2 Questionnaire design

36

3.3 Measurement scales

36

CHAPTER 4. RESEARCH RESULTS

39

4.1 Sample profile

39

4.2. Assessment of measurement scales

41

4.3. Assessment of structural model

44

CHAPTER 5. CONCLUSION AND IMPLICATIONS

50

5.1 Conclusion

50

5.2 Theoretical contribution

52

5.3 Managerial implications

52

5.4 Limitations and further research

54

APPENDIX

63

APPENDIX 1: LIST OF QUALITATIVE RESPONDENTS

63

APPENDIX 2: QUANTITATIVE QUESTIONNAIRE (Vietnamese Version)

64

APPENDIX 3: SMART PLS RESULTS

70

TABLE OF TASK COMPLETION

75


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LIST OF TABLES, CHARTS, FIGURES
Table 1. Relevant studies overview

Table 2. Measurement scales
Table 3. Profile of respondents
Table 4. Respondents’ degree of usage of mobile wallets
Table 5. Scale accuracy analysis
Table 6. Scale accuracy analysis: Discriminant validity assessment
Table 7. Measurement model cross loadings
Table 8. Summary of structural model results
Table 9. SSA structural model quality
Table 10. VIF value
2

Table 11. Results of testing the magnitude of the effect (𝑓 ) in further analysis
2

Table 12. 𝑄 values

Figure 1. Proposed research model
Figure 2. Research process
Figure 3. Path coefficients and their significance


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CHAPTER 1. INTRODUCTION
1.1 Reasons for choosing research thesis
In recent years, the industrial revolution 4.0 has had a significant impact on many
sectors both economically and socially, boosting the development of e-commerce.
According to the Vietnam E-commerce White Paper, in 2020, the growth rate of
e-commerce (e-commerce) reached 18% with the scale of 11.8 billion USD, making
Vietnam the only country in Southeast Asia with double-digit e-commerce growth. The

growth of e-commerce in Vietnam over the years has posed a requirement for a modern
and diversified technology-based online payment system to assist businesses and
consumers in taking full advantage of the benefits of this new business method - e-wallet.
Currently, e-wallets are no longer a strange concept for everyone. Besides payment
methods such as bank cards, Internet banking, mobile payments, … e-wallets are gradually
becoming an indispensable tool for consumers. According to Pachpande and Kamble
(2018), an e-wallet is a form of electronic card that can be used to make online
transactions through a smartphone or a computer. The emergence of e-wallets has made a
huge impact on financial services (Bansal 2020). E-wallets can be used to make cash
payments without the use of cash or cash equivalents. E-wallets replace cash and physical
wallets in digital form, besides it also stores personal information as a payment card on a
mobile device.
According to data from the Vietnam Internet Center, as of 2021, Vietnam has 68.72
million Internet users, accounting for 70.3% of the population, and the mobile coverage
rate is 98%, which are favorable conditions for the development of e-wallets. As of the
end of the first quarter of 2020, Vietnam had 13 million activated and used e-wallet
accounts, and up to 225 million transactions were made (The State Bank of Vietnam,
2020). According to State Bank statistics, 37 e-wallets from banks and fintech companies
have been approved to operate on the market so far. In which three e-wallets, Momo,
Moca, and ZaloPay, account for 90% of the total e-wallet payment market share. This
demonstrates that the introduction of e-wallets contributes to limiting cash transactions,
and is a convenient payment method, suitable for the demand of Vietnamese consumers,
especially college students. Specifically, in Ho Chi Minh City with more than 1.76 million
college students - according to author Le Van (2017), there is a great demand for utilizing
e-wallets to pay for daily activities such as buying bus tickets, ordering food, paying at
supermarkets, paying for electricity, water, petrol... Therefore, the study of factors


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affecting the intention to use e-wallets of college students in Ho Chi Minh City is essential
for financial technology businesses as well as online retailers.
Currently, in the world, there are quite a few research papers on the same issue as the
one we are working on. For example, “An Investigation of Factors Influencing Intention to
Use Mobile Wallets of Mobile Financial Services Providers in Myanmar” by Phyo Min
Tun (2020), or “Determinants of the Use of E-Wallet for Transaction Payment among
College Students” by author Alwan Sri Kustono 1*, Ardhya Yudistira Adi Nanggala 2,
Imam Mas'ud (2020),...
However, in Vietnam with the context in Ho Chi Minh City - one of the major cities
in the field of financial technology, there are few in-depth studies exploring the factors that
influence college students' intention to use e-wallets. For that reason, we have chosen the
topic "Factors affecting the intention to use e-wallets of college students in Ho Chi Minh
City". The study aims to provide more basis and administrative implications for businesses
to better understand user behavior, thereby offering strategies to improve user intent for
financial technology companies in the context of the current booming e-wallet market.
1.2 Research objectives
The research objective of this research is to find out the factors affecting the intention
to use e-wallets of students in Ho Chi Minh City. Specifically, this study examines the
influence of factors Perceived ease of use, Perceived usefulness, Trust, Security,
Convenience, Compatibility in lifestyle and Attitude affects the intention to use E-wallet
of students in Ho Chi Minh City.
The aim of this research is four-fold:
-

Building a research model, testing a scale to measure factors affecting the intention
to use e-wallets of students in Ho Chi Minh City.

-

Determining the direction of the impact of factors on the intention to use e-wallet of

students in HCMC

-

Determine the importance of factors to the intention to use the e-wallet of students
in Ho Chi Minh City.

-

Provide practical suggestions for executives in planning solutions to attract
customers to use e-wallets.

From the above objectives, the research focuses on researching and answering the
following questions:
-

Research question 1: What factors affect students' intention to use e-wallets.


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-

Research question 2: What is the impact of the factors on the intention to use the
student's e-wallet?

1.3 Research subject
The object that we study in this project is the impact of different factors on the intention to
use e-wallets of students in Ho Chi Minh City.
1.4 Research methods

The research topic is carried out through quantitative research methods.
The first stage of quantitative research is the pre-test. It was conducted through
experimental questionnaires with ten respondents in order to detect and edit observed
variables for the scales of concepts contained in the team's research model. In discussions
with the respondents, the team explained to the candidates the scales in the study model of
the definition and each observed variable of each scale. The test results showed that the
majority of respondents agreed with the observed variables of the factors that influenced
the intention to use the e-wallet. In addition, some candidates offered opinions to edit the
statements so that they were more compact, concise and easy to understand.
In the second stage, quantitative research is carried out by sending questionnaire
links to survey subjects in a convenience sampling method. Specifically, the group sent
survey questionnaires about “Intention to use mobile wallets” to many students from
universities in Ho Chi Minh City. The questionnaire was built on a 7-point Likert scale,
from 1 strongly disagree to 7 strongly agree. There were 303 respondents in the survey and
17 hypotheses were proposed. After obtaining the valid slips, the team used SmartPLS 3.3
software to process the data, analyze and evaluate the scale, test the theoretical basis and
research hypothesis.
1.5 Scope of research
The scope of study focused on university students in Ho Chi Minh City, mainly from
18-22 years old.
1.6 Limitations
In this survey, students in Ho Chi Minh City are asked about their awareness of
e-wallets and their intentions to utilize them. Students from several universities in Ho Chi
Minh City were selected as a representative sample. Using convenience sampling, this
research examines data at a certain time point. According to data from the Ministry of
Information and Communications, the number of mobile subscribers in 2021 is estimated
at 123.76 million. In which, there are 92.88 million smartphone subscribers, accounting for


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about 75%. Thus, with the sample being students from universities in Ho Chi Minh City, it
is still limited, and the sample size is not large enough. Research results can only be
applied to a certain extent because, in different areas, students have different lifestyles,
incomes, or living standards.
1.7 Research outline
1. Introduction
The content includes reasons for choosing the topic, research objectives, the research
subject, research method, scope of research, and limitations of the topic.
2. Theoretical basis
The content includes related theories, related research papers, research models (if
any), and theoretical conclusions for the group's research paper.
3. Research design
The content includes the research process, quantitative research design, sample
calculation, sampling techniques, sample approaches, and quantitative questionnaires with
source and type of scale.
4. Quantitative research results
Presentation of data analysis and the results, discussion of research results.
5. Conclusion and suggestions (solutions/recommendations)
Summary of research results, contributions, practical significance of the topic;
managerial implications to apply research results into practice, limitations of the topic and
further research directions proposal.


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CHAPTER 2. THEORETICAL BASIS
2.1 Relevant theories
2.1.1 Technology acceptance model (TAM)
Technology acceptance model (TAM) ) was introduced by Davis (1989) based on the

Theory of Rational Action (TRA) of Fishbein and Ajzen (1967). The purpose of the TAM
model is to explain the general determinants of computer acceptance that lead to an
explanation of the behavior of end users of computer technology over a wide range. This
model shows that the acceptability of an information system is determined by two main
factors: perceived usefulness and perceived ease of use. Perceived usefulness is defined as
the degree to which a person believes that using a system will improve his or her
performance (Davis et al, 1986). Perceived ease of use refers to the degree to which a
person believes that using a system will be easy (David et al, 1989). This theory has shown
the influence of factors: perceived ease of use and perceived usefulness of technology on
an attitude towards using technology. Subjective norms and facilitating conditions (FC)
were added as external factors to the TAM framework by Teo et al. (2008). Shaw (2014)
proposed the enhanced TAM model in a research of e-wallet users in Canada. Relevant
constructs such as trust, security, lifestyle compatibility (LC), facilitating conditions (FC)
were added to this advanced model. External variables affecting an individual will increase
or decrease the person's perceived usefulness and ease of use. When the perceived
usefulness increases, they feel that the intention to use it will bring them more benefits
than they think, and the use of e-wallets is also quite easy, not too complicated with high
security, which will give them a positive attitude towards the use of e-wallets. Positive
attitudes lead to an increased intention to use e-wallets.
2.1.2 Unified theory of acceptance and use of technology (UTAUT)
The theoretical model of UTAUT developed by Viswanath Venkatesh (2003) and
associates: Michael G. Moris, Gordon B.Davis, and Fred D. Davis were developed for the
purpose of improving the TAM model, which investigates customers' intention to use
information systems and their ongoing behavior. This model is based on eight component
models/theory, which are: Theory of Reasoned Action (TRA), Theory of Planned Behavior
(TPB), Technology Acceptance Model (TAM, TAM2), Motivation Model (MM), A model
combining TAM and TPB (TAM&TPB), Model of PC Utilization (MPCUs), Innovation
Diffusion Theory (IDT), and Social Cognitive Theory (SCT). The concepts in UTAUT are
synthesized from the strongest influencing factors in the previous eight models. And there

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are 04 main factors affecting behavioral intention in the model: performance expectancy,
effort expectancy, social influence and facilitating conditions. First, the performance
expectancy is that the customer's expectations about the effectiveness of the e-wallet
system when in use will promote behavioral intentions. It can be measured by managing
their time and effort effectively while providing them with a free trading system and fast
customer support, this can be seen as perceived usefulness. According to Abdinoor and
Mbamba (2017), effort expectancy is defined as the customer's expectation of simplifying
the system using an E-Wallet system that is easy for them to learn. Social influences
(relatives, colleagues, friends...) have a significant impact on their judgment and attitudes.
Finally, a facilitating condition can be considered as the degree to which the customer
believes that the technical and organizational infrastructure are available to support their
use of the E-wallet system.
UTAUT is a model that integrates elements of 8 component models including the
TAMs. It has an advantage over TAMs, which are models formed from a methodical
testing process by putting 8 component models into practice and testing on many
organizations, selecting the factors that have the strongest influence on user behavior.
After the model is formed, it is tested again on old and new data, in this process the TAMs
are absent. And the test results show that the explanatory power of this model is higher
than the component models including the TAMs.


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2.2 Overview of relevant studies
Table 1. Relevant studies overview
Study
Deepak

Chawla,
Himanshu
Joshi (2019).
Consumer
attitude and
intention
to
adopt mobile
wallet in India
–
An
empirical
study.
International
Journal
of
Bank
Marketing

Theory of context
Model:

Hypothesis:
H1a. PEOU encompasses effect on PU related to mobile
wallets.
H1b. PEOU encompasses effect on trust with mobile
wallets.
H1c. PEOU positively affects attitude.
H2a. PU encompasses a positive effect on mobile wallet
trust.

H2b. PU encompasses effect on the intention to use
e-wallet.
H2c. PU positively affects attitude toward e-wallet.
H3a. PS encompasses effect on trust toward e-wallet.

Antece
dents

Mediat
ors

PEOU, Trust,
Security PU,
,
FC, Attitude
LC

Findings

Abstract

According to the
findings of this
research, consumer
attitudes and
intentions to use
mobile wallets are
influenced by
characteristics such
as perceived ease

of use (PEOU),
perceived
usefulness (PU),
trust, security,
facilitating
conditions, and
lifestyle
compatibility. 15 of
the 17 hypotheses
submitted were
approved. Ease of
use had a large
influence on
usefulness and
trust, but PU had a
significant impact

A comprehensive approach is
proposed utilizing the technology
acceptance model (TAM) and the
unified hypothesis of acceptance
and utilization of technology
(UTAUT), as well as other
significant, ponders on factors
that influence innovation
selection. A model instrument
was made employing an
amalgamation of an overview of
writing on factors affecting
innovation appropriation, as well

as two center bunch dialogs
(FGD). The survey was utilized
to execute an essential overview
of the nation. The respondents
were chosen through comfort
testing. The study included 744
members, and 17 theories were
made, with PLS-SEM utilized to
calculate and evaluate the
hypothesized demonstration. It
has been uncovered how
imperative security and trust are


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H3b. PS affects the intention to use a mobile wallet
positively.
H3c. PS positively affects user attitude toward e-wallet.
H4a. FC improves PU in relation to mobile wallet.
H4b. FC positively affects attitude toward e-wallet.
H4c. FC positively affects intention toward e-wallet.
H5a. Trust influences attitude positively.
H5b. Trust encompasses an effect on intention.
H6a. LC positively affects attitude toward e-wallet.
H6b. LC positively affects intention toward e-wallet.
H7. Attitude encompasses an effect on mobile wallet
adoption intentions.
Phyo Min Tun
(Tun, 2020,).

An
Investigation
of
Factors
Influencing
Intention to
Use
Mobile
Wallets
of
Mobile
Financial
Services
Providers in
Myanmar.
The
Asian

Theory: TAM, UTAUT, Updated ISS
Model:

Hypothesis:
H1: PU positively influences the intention to use MW.
H2: SERVQ positively influences the intention to use
MW.
H3: SATIS positively influences the intention to use

PU,
SERVQ
,

SATIS,
SI, FC,
TR

on trust, attitude,
and intention. The
importance of
security and trust in
deciding trust has
been discovered.

in deciding trust. Ease of use had
a huge impact on the value and
trust, but PU had a noteworthy
effect on trust, attitude, and
intention. 15 out of the 17
hypotheses presented were
accepted.

The study's
findings revealed
that in Myanmar,
trust and perceived
usefulness
characteristics had
a substantial impact
on behavior
intention to use a
mobile wallet.

Mobile wallets are fast becoming
a popular financial product
throughout the world, with rapid
growth in poorer nations. The
Structural Equation Modeling
(SEM) approach was used to
evaluate the data and formulate
the conclusions. In Myanmar,
survey data was obtained from
234 prospective mobile wallet
users. The study's findings
revealed that in Myanmar, trust
and perceived utility
characteristics had a substantial
impact on behavior intention to
use a mobile wallet. User
acquisition managers, marketing
managers, and business


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Journal
of MW.
Technology
H4: SI positively influences the intention to use MW.
Management
H5: FC positively influence intention to use MW.
H6: TR positively influences the intention to use MW.
Marvello Yang,

Abdullah Al
Mamun,
Muhammad
Mohiuddin,
Noorshella
Che Nawi &
Noor Raihani
Zainol (2021).
Cashless
Transactions:
A Study on
Intention and
Adoption of
e-Wallets.
Publisher
of
Open Access
Journals.

Theory: UTAUT
Model:

development managers may use
the findings of this study to
design plans and tactics for
placing their mobile wallet within
an appropriate user base.

At last, perceived
usefulness,

PEOU, n to Use perceived ease of
Social
e-Wallet use, social
influence, lifestyle
Influenc
compatibility, and
e, FC,
perceived trust all
influenced e-wallet
LC, PT
intention and
adoption
emphatically. The
intention to utilize
an e-wallet was
observed to
Hypothesis:
mediate the
(H1). PU has a critical positive impact on adults'
connections
intention to use e-wallets.
between variables
and e-wallet
(H2). PEOU has a critical positive impact on the
selection. The
intention to use e-wallets among adults.
impact of the way
(H3). Social influence has a critical positive impact on
of life compatibility
the intention to use e-wallets among adults.

on the intention to
(H4). FC has a critical positive impact on the intention
utilize an e-wallet
to use e-wallets among adults.
was intervened by
(H5). LC has a critical positive impact on the intention
the respondents'
age and gender.
to use e-wallets among adults.
PU,

Intentio

Utilizing the unified hypothesis
of acceptance and use of
technology (UTAUT), the
impacts of perceived usefulness,
perceived ease of use, social
impact, encouraging conditions,
lifestyle compatibility, and
perceived trust on both the
intention to utilize and the
appropriation of an e-wallet
among adults were examined.
This quantitative ponder uses a
Google Shape to gather data from
501 individuals employing a
cross-sectional research
procedure. To analyze the
information, fractional slightest

square basic condition modeling
(PLS-SEM) was utilized. As a
reaction, seen value, perceived
ease of use, social impact,
lifestyle compatibility, and
perceived trust all affected
e-wallet intention and
appropriation altogether. In this
paper, the intention to use an


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(H6). PT has a critical positive impact on the intention
to use e-wallets among adults.
(H7). Intention to use an e-wallet has a critical positive
impact on the adoption of e-wallets among adults.
(H8). The impacts of PU, PEOU, social influence, FC,
LC, and PT on adoption of e-wallets among adults were
intervened by the intention to use an e-wallet.
(H9). Age moderates the connections of PU, PEOU,
social influence, FC, LC, and PT with the intention to
utilize e-wallets among adults.
(H10). Gender moderates the connections of PU, PEOU,
social influence, FC, LC, and PT with the intention to
use e-wallets among adults.
(H11). Level of education moderates the connections of
PU, PEOU, social influence, FC, LC, and PT with the
intention to use e-wallets among adults.
Md.

Tanvir Theory: TAM
Alam Himel, Model:
Shahrin
Ashraf, Tauhid
Ahmed Bappy,
Md
Tanaz
Abir,
Md
Khaled
Morshed, Md.
Nazmul
Hossain

e-wallet was found to intercede
the affiliations between the
components and e-wallet
selection. The impact of lifestyle
compatibility on the intention to
utilize an e-wallet was interceded
by the respondents' age and
gender. The study's findings will
assist managers and regulators in
developing effective methods for
recording consumers' desire to
use and experience with an
e-wallet in a dynamic market.
Finally, such well-crafted policies
may stimulate higher rates of
e-wallet usage in poor countries,

as well as promote the digital
platform and web-based apps.
PU,
PEOU,
PT,
Barriers

Attitude
toward
Using
MFS

To confirm the
findings, this article
used both the
technology
acceptance model
(TAM) and the
innovation
resistance theory
(IRT). Customers'
opinions toward
MFS adoption are
favorably
influenced by

This study was conducted using a
mixed research approach. Partial
least squares (PLS) path
modeling was used to examine

the data of 196 respondents. For
the quantitative portion,
non-probability sampling was
used to collect data via a
standardized survey
questionnaire. To validate the
quantitative findings, ten MFS
users from various backgrounds
participated in a focus group


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(2021). Users'
attitude and
intention
to
use
mobile
financial
services
in
Bangladesh:
an empirical
study . South
Asian Journal
of Marketing
Hypothesis:
H1. PU of MFS is positively related to attitude toward
accepting MFS.

H2. Perceived ease of using MFS is positively related to
attitude toward accepting MFS.
H3. Trust in MFS will have a significant positive effect
on attitudes toward accepting MFS.
H4. Barriers of MFS are negatively related to attitude
toward using MFS.
H5. Barriers of MFS are negatively related to intention
to use MFS.
H6. Attitude toward using MFS is positively related to
intention to use MFS.
H7. Attitude toward using MFS mediates:
(a) The positive relationship between PU and intention
to adopt MFS.
(b) The positive relationship between PEOU and

perceived
usefulness (PU),
perceived ease of
use (PEOU), and
perceived trust
(PT), according to
the authors.
Furthermore,
acceptability
barriers also have a
detrimental
influence on
customer
perceptions and
usage intentions. A

focus group
discussion on the
constructs used in
this work also
contributed useful
information.

discussion. According to the
authors, perceived usefulness
(PU), perceived ease of use
(PEOU), and perceived trust (PT)
all influence people's attitudes
towards MFS adoption.
Researchers discovered that
acceptance barriers had a
detrimental impact on customers'
perceptions and usage intentions.


lOMoARcPSD|22244702

intention to adopt MFS.
(c) The positive relationship between PT and intention
to adopt MFS.
(d) The negative relationship between barriers to
acceptance and intention to adopt MFS.
M
Sendhil
Kumar 1 Dr B
Adalarasu, Dr.

S.
Gokula
Krishnan
(2020).
Perceived
Usefulness,
Perceived Ease
of Use, and
Behavioural
Intension
to
Use: Mediating
effect
of
Attitude
toward
Use
with reference
to
Mobile
wallet
Acceptance
and Adoption
in Rural India.

Theory: TAM
Model:

Hypothesis:
H1: Perception on PU, PEOU, Attitude and Behavioral

Intention varies across Variables
H2: PEOU positively correlates with PU
H3: PU positively correlates with Attitude
H4: PEOU positively correlates with Attitude

PU,
PEOU

ATU

According to the
findings, the
independent
variables have a
substantial
association and
impact on
behavioral
intention. Finally,
the researchers
have made
recommendations
and ideas for
further research.

M-Wallet (Mobile Wallet) is a
form of e-commerce designed
specifically for mobile devices.
The purpose of this study is to
determine the relationship

between perceived usefulness
(PU), perceived ease of use
(PEOU), attitude toward use
(ATU), and behavioral intention
to use (BINT). Data acquired
from 450 potential mobile wallet
users via an online and offline
survey was used to
experimentally evaluate the
research.


lOMoARcPSD|22244702

H5: PU positively correlates with Behavioral Intention
H6: PEOU positively correlates with Behavioral
Intention
H7: Attitude positively correlates with Behavioral
Intention


lOMoARcPSD|22244702

2.3 Hypotheses development and research model
2.3.1 The relationship between PEOU and PU
As already stated, PEOU and PU are the two basic constructs of TAM. PEOU is a
crucial driver of customers’ attitudes and intention to receive and utilize technology.
PEOU considers how basic a framework is to memorize and utilize, while PU considers in
case the client feels the framework will move forward his or her performance (Davis,
1989). Within the setting of mobile wallets, PEOU is characterized as the user's

discernment of how small exertion is required to memorize and utilize mobile wallets. PU,
on the other hand, is characterized as the idea that utilizing a mobile wallet would improve
shopper performance. This may well be in terms of superior proficiency, with less work
and time spent. Within the case of m-services buyers in Australia, PEOU could be a solid
indicator of PU (Revels et al., 2010). In Malaysia, Amin et al. (2014) found that PEOU
emphatically influenced PU in terms of website utilization. PEOU's influence on PU has
been described in previous research (Gefen and Straub, 2003; Davis, 1989; Adams et al.,
1992; Szajna, 1996; Lederer et al., 2000; Moon and Kim, 2001;). As such, the following
hypothesis is proposed:
H1a. PEOU positively influences PU associated with mobile wallets.
Online transactions, like PEOU and PU, require a high level of trust. Making the platform
basic to utilize and explore is vital to setting up online trust. Within the setting of
e-commerce, a user-friendly website diminishes user misunderstandings, permitting for
more straightforwardness all through the value-based process (Flavián et al., 2006). Within
the case of mobile wallets, easy-to-understand and express operations such as installment,
revive, and exchanges help the improvement of trust. PEOU ought to too boost certainty,
concurring with Gefen et al. (2003), by giving the impression that the e-vendor is
contributing to the association and so signaling a commitment to the organization. PEOU
is accepted to emphatically impact trust in e-commerce since it helps buyers construct a
favorable supposition of the e-vendor amid the primary appropriation process of an
internet benefit (Wu and Chen, 2005). PEOU has been found to be a main predictor of
customer trust in the situation of m-commerce by other researchers (Lee and Jun, 2007;
Belanche et al., 2012; Kumar et al., 2018). As such, the following hypothesis is proposed:
H1b. PEOU has a significantly positive effect on trust with mobile wallets.

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2.3.3 The relationship between PEOU and Attitude
According to Hew et al. (2015), easy-to-use applications will entice customers to
utilize them and so shape their attitudes. Various research have demonstrated the impact of
PEOU on attitude (Chau and Lai, 2003). PEOU has a good and strong effect on attitudes
regarding Internet banking, according to Suh and Han (2002). PEOU was found to have a
favorable and significant effect on attitudes around mobile banking by Deb and David
(2014) in their research of Indian mobile managing an account clients. Lin (2011) found
that PEOU basically influences attitude, which on the off chance that shoppers discover
e-banking basic to utilize, they are more likely to embrace it. As PEOU has been an
important indicator within the selection of various data innovation stages, it is sensible to
accept that the same will be genuine for mobile wallets. As such, the taking after theory is
proposed:
H1c. There is a positive relationship between PEOU and attitude.
2.3.4 The relationship between PU and Trust
The commitment–trust hypothesis of relationship marketing set up by Morgan and
Chase (1994) best clarifies the thought of trust, which is characterized as a circumstance in
which one party has confidence in the reliability and integrity of a trade accomplice. In this
research, we extend trust within the setting of mobile wallets. Within the case of mobile
commerce, Lee and Jun (2007) found that PU is a major indicator of customer trust.
Concurring to the article almost versatile site fulfillment, Amin et al. (2014) uncovered
that PU is emphatically associated with trust. The degree to which customers accept the
service would increment their proficiency and will have a favorable impact on trust in
mobile wallets. Moved forward execution and returns could be indicators of trust. As such,
the taking after theory is proposed:
H2a. PU positively affects trust with mobile wallet.
2.3.5 The relationship between PU and Intention
Previous research investigations have regularly confirmed the speculations at first
expressed within the TAM model. Riquelme and Rios (2010) found that PU impacts
behavioral intention to utilize mobile managing an account in a ponder including internet
users in Singapore. In a study of Thai mobile banking users, Mortimer et al. (2015) found

that PU predicts the desire to utilize mobile banking emphatically and impressively.
Alalwan et al. (2016) examined the part of value among Jordanian mobile banking users
and discovered that PU incorporates a noteworthy impact on behavioral intention. Shaw

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(2014) discovered that PU impacts the purposeful to utilize a versatile wallet within the
setting of mobile wallets. Numerous extra research examinations have uncovered
comparative conclusions (Adams et al., 1992, Jackson et al., 1997; Suh and Han 2002;
Shin, 2010; Sharma and Govindaluri 2014; Pham and Ho, 2015; Upadhyay and Jahanyan
2016; Kumar et al., 2017; Matemba and Li, 2017). As such, the taking after speculation is
proposed:
H2b. PU positively affects Intention toward mobile wallet adoption.
2.3.6 The relationship between PU and Attitude
Previous research on technology adoption has more than once found that PU features
a critical effect on attitudes and eagerness to utilize online banking (Chong et al., 2010)
and mobile banking (Chong et al., 2010). (Mohammadi, 2015). Agreeing to Teo et al.
(2008), PU is a forerunner of attitude and features a solid effect on the attitude. Within the
case of mobile banking in India, Deb and David (2014) found a positive relationship
between PU and attitude toward mobile banking. A few studies have shown that PU and
attitude are firmly associated (Aboelmaged and Gebba, 2013; Krishanan et al., 2016).
Customers are more likely to have a great attitude and desire to utilize mobile banking
when they see clear benefits given by it (Lin, 2011). As such, the taking after hypothesis is
proposed:
H2c. PU positively affects attitude toward mobile wallets.
2.3.7 The relationship between PS and Trust
The degree to which a user feels that utilizing a specific online payment method is

secure is known as perceived security (PS). When conducting online transactions, Enck et
al. (2009) defined PS as a consumer's conviction that his or her individual credentials
would not be accessed, spared, or modified by unauthorized users. Security is a vital driver
of trust in e-commerce and online buying research (Flavián and Guinalu, 2006; Roca et al.,
2009; Kim et al., 2011). It is critical, agreeing to Shin (2009), to set up PS metrics and
their interface to believe within the mobile setting. Agreeing to Flavián and Guinalu
(2006), customers' perceptions of security with respect to the handling of their individual
data have a noteworthy effect on the building of trust. Mukherjee and Nath (2007) found
that the website's privacy and security features, as well as shared values, are basic
predecessors of trust, which emphatically impacts consumers' behavioral intention.
Agreeing to Nath (2007), the website's privacy and security features, as well as shared
values, are critical forerunners of trust, which emphatically impacts customers' behavior

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intention. In a later research counting e-wallet utilization in India, Kumar et al. (2018)
found that PS had a critical impact on trust. As such, the following speculation is
proposed:
H3a. PS has a positive effect on Trust toward mobile wallets.
2.3.8 The relationship between PS and Intention
PS has been shown to have a positive effect on behavioral intentions (Flavián and
Guinalu, 2006; Mukherjee and Nath, 2007; Shin, 2009). Mobile wallets make more
security concerns than conventional payment methods since they store and transport
individual and money-related data. Security has been considered a vital indicator of online
buying purposeful, and numerous research examinations have uncovered that security
encompasses a positive impact on the craving to purchase online (Yousafzai et al., 2003;
Kim et al., 2008). In their thinking about the Indian setting, Thakur and Srivastava (2013)

recognized security and protection concerns as major obstructions to portable commerce
appropriation. Patel and Patel (2018) examined the selection of internet banking
administrations in India and found that seen security had a positive effect on the
purposeful utilize internet banking. As such, the following hypothesis is proposed:
H3b. PS has a positive effect on the intention to use mobile wallets.
2.3.9 The relationship between PS and Attitude
Numerous researchers (O'Cass and Fenech, 2003; Vijayasarathy, 2004) have
demonstrated a positive association between security and attitude within the setting of
online shopping. It is sensible to expect that the more noteworthy the perceived security,
the greater the trust within the technological platform, which would exchange into a
positive feeling toward adoption. This phenomenon is likely to happen with mobile wallets
as well. As such, the following hypothesis is proposed:
H3c. PS positively influences users' attitudes toward mobile wallets.
2.3.10 The relationship between FC and PU
According to Thompson et al., (1991) FC are described as existing circumstances
that make completing an act easier. For instance, one facilitating situation that can have an
impact on system use is the availability of support for personal computer utilization. FC
refers to factors from the external environment that influence a person's motivation to
complete a task (Teo et al., 2008). Agarwal et al (2009) discovered that the degree to
which a person believes that the current organizational and technical infrastructure can

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