Internet banking using intention in vietnam

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TABLE OF CONTENTS
ABSTRACT .............................................................................................................. 6
ACKNOWLEDGEMENTS...................................................................................... 7
Chapter 1 Thesis introduction ................................................................................. 8
1.1. Chapter introduction ............................................................................................ 8
1.2. Background ......................................................................................................... 8
1.3. Motivation and research questions ..................................................................... 10
1.4. Data and methodology ....................................................................................... 11
1.5. Contribution and implication ............................................................................. 12
1.6. Chapter Conclusion............................................................................................ 12
Chapter 2 Literature review .................................................................................. 13
2.1. Chapter introduction .......................................................................................... 13
2.2. Internet banking and overview of Vietnam case ................................................. 13
2.2.1. Internet banking .............................................................................................. 13
2.2.2. Overview of Vietnam internet banking ........................................................... 16
2.3. Literature gap..................................................................................................... 19
2.4. Hypothesis development .................................................................................... 26
2.4.1. Variable Y: Internet banking using intention ................................................... 26
2.4 2. The variables X ............................................................................................... 27
2.4.3. Demographic factors ....................................................................................... 35
2.5. Chapter conclusion ............................................................................................ 38
Chapter 3 Data and Methodology .......................................................................... 39
3.1. Chapter introduction .......................................................................................... 39
3.2. Variables and sample procedure......................................................................... 39
3.3. Model testing ..................................................................................................... 45


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3.4. Chapter conclusion ............................................................................................ 46
Chapter 4 Result analysis ....................................................................................... 48
4.1 Chapter introduction ........................................................................................... 48
4.2. Demographic result ............................................................................................ 48
4.3. Variable result ................................................................................................... 50
4.4. Reliability analysis result ................................................................................... 53
4.5. Exploratory Factor Analysis (EFA) .................................................................... 55
4.6. Linear regression result ..................................................................................... 56
4.7. Discussion on the hypotheses 1 and 2 ................................................................ 58
4.8. Discussion on hypothesis 3 ................................................................................ 62
4.9. Discussion on the research questions ................................................................. 64
4.10. Chapter conclusion .......................................................................................... 65
Chapter 5 Thesis conclusion................................................................................... 67
5.1. Chapter introduction .......................................................................................... 67
5.2. Review of research questions, hypotheses and result.......................................... 67
5.3. Contribution....................................................................................................... 68
5.4. Implication......................................................................................................... 69
5.5. Limitation .......................................................................................................... 70
5.6. Future work ....................................................................................................... 70
REFERENCE ......................................................................................................... 72
APPENDIX ............................................................................................................. 75
A1. Detail table of mean and standard deviation of items ......................................... 75
A2. Data result from SPSS solution for Variable Y................................................... 78
A3. Factor analysis ................................................................................................... 78
A3.1. KMO and Barlett’s test ................................................................................... 78
A3.2. Total variance explained ................................................................................. 78


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A4. Linear regression analysis .................................................................................. 80
A5. Demographic analysis ........................................................................................ 83
A5.1. One way – ANOVA analysis .......................................................................... 83
A5.2. Independent samples T-Test ............................................................................ 85
A6. Questionaire ....................................................................................................... 87


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LIST OF TABLES
Table 2-1: The e-banking service of some banks in Vietnam .................................... 17
Table 2-2: Research model ....................................................................................... 37
Table 3-1: The summary of items of variables .......................................................... 40
Table 3-2 : Content of demographic factors .............................................................. 45
Table 3-3: Sample procedure .................................................................................... 47
Table 3-4: The summary of data and methodology ................................................... 47
Table 4-1: Demographic profile ................................................................................ 49
Table 4-2: The summary compared mean and standard deviation of items ............... 50
Table 4-3: The summary of reliability test ................................................................ 54
Table 4-4: KMO and Bartlett's Test ......................................................................... 55
Table 4-5: Total Variance Explained ........................................................................ 55
Table 4-6: Rotated Component result........................................................................ 56
Table 4-7: Model Summary ...................................................................................... 57
Table 4-8: Model ANOVA ....................................................................................... 57
Table 4-9: The linear relationship result.................................................................... 58
Table 4-10: Demographic impact result .................................................................... 62
Table 4-11: Result on the independent t-test on 2 selected ariables ........................... 63
Table 4-12: Research question and hypothesis related .............................................. 65

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ABBREVIATIONS AND SYMBOLS
ABBREVIATION
Demo

Demographic

EFA

Exploratory Factor Analysis

H

Hypothesis

RQ

Research Question

Std Dev.

Standard Deviation

TAM

Technology Acceptance Model

TPB

Technology Planned Behavior

SYMBOL
α

Cronbach alpha

≠

Differences


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ABSTRACT
The purpose of this research is to explore extendedly the impact of technology
acceptance; and the external environment factors on internet banking using intention
in Vietnam. Then, the result from this study shows out that all variables have the
impact on internet banking using intention in Vietnam. The convenience; availability
and accessibility and security variables as the technology acceptance have the
significant positive impact on internet banking using intention. Whereas, the external
environment factors all have the considerable impact on internet banking using
intention. Privacy is the only one which has the negative impact on internet banking
using intention with the study. Beside the main variables from technology acceptance
and external environment categories, the research introduces the significant
demographic factors to test their impact on internet banking using intention. The result
gives out that the age, education level and income level factors have the impact on
internet banking using intention. Because the key paper does not work on the
regression relationship analysis, the study here actually helps extend it by the
regression relationship result. Moreover, the combination of variables from the

different existing studies helps the reader have the interesting view on this topic.
Furthermore, the research contributes to the academic in term of the impact of many
variables on internet banking using intention in Vietnam. It certainly indicates the
implication for the academic researchers, internet banking users, bank and
policymakers. However, there are some limitations with the thesis including the
method, respondent and sample …


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ACKNOWLEDGEMENTS
I would like to thank my supervisor - Doctor Quoc Pham Phu due to his
enthusiasm tutorial, careful guidance, remarkable patience, useful feedback and
spiritual encouragement. Without his concern, I can’t finish my thesis here.
Moreover, I would like to thank the comments from the board on my work
which helps me revise my paper in the good way.
Finally, I would like to thanks other individuals and the respondents who
contribute to my thesis done.
April 21, 2014

Hiep Phan Duy


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Thesis introduction Chapter 1
1.1. Chapter introduction
This study here mentions about the individual users’ intention to use internet
banking in Vietnam. In term of adoption, it further investigates the impact of variables
extracted from technology acceptance and the external environment theory on

Vietnam internet banking adoption. Specifically, the thesis examines the variables of
convenience, availability and accessibility, content and design, speed, security,
privacy, bank image and management, fees and charges which are identified in a
research about Malaysia internet banking adoption. Moreover, it is an attempt to
extend more variables by adding two more variables including added service and
government support from the other existing research to help introduces the big picture
about the impact of the variables on internet banking using intention in Vietnam
adoption.
The content of this chapter includes 6 main parts. Part 1.2 is about the
background on the variables which are argued to have the impact on internet banking
using intention in Vietnam adoption. Part 1.3 declares the motivation and the research
questions of this thesis. Part 1.4 introduces the research objectives and the hypothesis.
Part 1.5 describes in brief the data, methodology and the result analysis. Part 1.6
discusses about the contribution and implication which are expected from this
working paper. Finally, Part 1.7 summaries the structure of thesis.
1.2. Background
The variables mentioned in the thesis are the current argument about the impact
of the technology acceptance model and external environment factors on the internet


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banking users’ adoption. Actually, the technology acceptance model (TAM), the
technology planned behavior (TPB), the external factors or the structural model… are
conducted popularly in the previous studies for a purpose of finding out the internet
banking preference in many markets including Vietnam market. For instance, it comes
out here with 2 studies which mentioned about internet banking using intention in
Vietnam. Chong, Ooi, Lin and Tan (2010) work on the perceived usefulness, the
perceived of use, the trust and the government support as the key impacts on internet
banking using intention in Vietnam adoption. Moreover, Pham, Cao, Nguyen and

Tran(2013) investigate about the impact of perceived risk, the perceived ease of use,
the perceived benefit, the trust, the perceived risk, the bank image, the subjective
norms on the intention to use Vietnam banking adoption. Both 2 studies here build up
the basic variables which come from the technology acceptance model and the
technology planed behavior. These ideas are certainly the background for the
development of specific variables like the convenience, the availability and
accessibility, the content and design, the speed, security, privacy… in the recent
studies. Actually, these variables appear with the Malaysia studies about internet
banking using intention. Poon (2008) identifies10 variables including the
convenience, the availability, the accessibility, the content, the design, the speed, the
security, the privacy, the bank image and management and fees and charges.
Moreover, Sohail and Shanmugham (2003) explore the variables like accessibility,
reluctance, costs, trust, security, convenience and ease of use.


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1.3. Motivation and research questions
As mentioned in the part 1.2, the Malaysia authors use the more detail
measures to explore the variables with users’ adoption momentum of internet banking
in Malaysia. This one motivates my attempt to follow this way to find out something
for internet banking using intention in Vietnam. These more detail variables to the
internet banking acceptance bring me out with the question as follow:
Research question 1 (RQ1): Do the variables including convenience;
availability and accessibility; content and design; speed; security; privacy; bank
image and management; fees and charges affect the internet banking using intention
in Vietnam?
Beside the variables from the Key study, there is an attempt to add some more
variables to bring out the bigger picture about the internet banking users’ preference.
The added ones come from the other existing papers about internet banking using

intention in both Vietnam and foreign market as an extension with this research.
Research question 2 (RQ2): Do the added variables including government
support and added service affect the internet banking using intention in Vietnam?
Finally, Demographic factors are mentioned in this thesis; however, they are
the selected ones which are supposed to be the suitable factors with internet banking
using intention in Vietnam situation.
Research (RQ3): Do the demographic factors including gender; age; education
level; income level and internet accessibility have the impacts on the internet banking
using intention in Vietnam?


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Certainly, the thesis is to find out the answer on the three main objectives. The
first objective is about the impact of variables from the study in Malaysia to internet
banking using intention in Vietnam. Poon (2008) explores the significant impact of
variables like convenience; availability and accessibility; content and design; speed;
security; privacy; bank management & image and fees & charges. The second
objective is to confirm the significant impact of the added variables on the thesis
model. Bauer, Hammerschmidt and Falk (2004) argue about Added services as the
quality portal of internet banking to the customer benefit which is my first added
variables in this thesis. Moreover, Chong, Ooi, Lin and Tan (2010) figure out the
important role of government support determinant in Vietnam; therefore, it can’t be
ignored to become the second added variables with this thesis. Finally, the third
objective is about to examine Demographic factors on the Vietnam banking adoption.
These factors are extracted from the Malaysian research to be worked out here in the
thesis. Demographic factors are investigated dependently beside the main variables.
1.4. Data and methodology
A questionnaire is prepared to collect the information of the Vietnamese users.
These persons take a survey about the variables as above to the internet banking

acceptance. The data from the survey is crunched with the three steps of analysis
including reliability test with cronbach alpha; the exploratory analysis (EFA) and the
linear analysis. The result from the regression relationship is used to work on
discussion, contribution and implication.


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1.5. Contribution and implication
This thesis has some contributions for the academic research when it continues
to explore the behavior of internet banking users on the theories of technology
acceptance model and external environment factors. Moreover, an attempt to add up
the variables from the foreign studies helps the researchers in Vietnam have more idea
on the topic of internet banking adoption. Furthermore, the relationships between the
variables as well as Demographic factors to internet banking using intention in
Vietnam can support for the key papers and give out some implication. Thus, the
implication of this thesis is the interest subject to the academic researchers, Vietnam
internet banking users.
1.6. Chapter Conclusion

The thesis here consists of 5 chapters including introduction, literature review,
methodology, result and conclusion which helps find out the answer for the
relationship between the detail variables and the internet banking using intention.
Actually, the next chapter discusses about the literature background for the thesis
topic.


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Literature review Chapter 2

2.1. Chapter introduction
The literature review is an important chapter which introduces the rationale to
develop any research. Here, I would like to take advantage of the existing studies on
internet banking using intention to build up my own story. This step certainly
enhances the reliability on my thesis. The reference sources for my topic are
absolutely matched with the larger number of existing studies and papers.
Thus, this chapter consists of the 3 main parts. The first one mentions about the
overview of Vietnam internet banking. The next one argues about the gap of my
study. Finally, the variables and the hypotheses are developed into detail.
2.2. Internet banking and overview of Vietnam case
2.2.1. Internet banking
In term of banking industry, the internet is used to provide the internet- banking
service with the purpose of connecting the clients as more as possible. Many persons
as well as the researchers believe that the internet banking helps fulfill the
disadvantage of the traditional banking service. Bony and Kabir (2013) think that the
modern technology like internet –banking may bring out a new way to their clients
and help build up a close relationship to the customer. Moreover, Bony and Kabir
(2013) mention about the word of Bill Gate that the banking is vital in the future
instead of the traditional one. Furthermore, Jayawardhena and Foley (2000) believe
that the e-banking service has an important role in the banking industry in the
developed countries. Actually, the advantage of e-banking is not only for customers


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but also for the banks themselves (Nehmzow, 1997). It is certainly that the e-banking
helps bring out a revolution of marketing distribution channel in the banking industry
which even supplies better service to their clients. At present, the internet banking in
the period of globalization is appreciated as the competitive advantage rather than the
other ways of channel distribution (Flavián, Torres & Guinalí, 2004). Finally,

Karjaluoto, Mattila and Pento (2002) argue that the customers can access to their
account anytime and anywhere with the internet banking. The long time transaction
with the traditional bank is eased as the click of computer mouse.
The definition of the e-banking adoption may be a bit different among the
studies. Chong, Ooi, Lin and Tan (2010) argue in their research that the internet
banking has the working machine like the old banking service; however, the key point
here is electrical usefulness. Moreover, Young (2001) says that the customer can do
many things with the internet- banking with the click anywhere. They can transfer
money between the account, check the transaction record, make a payment and many
things else. Otherwise, Pham, Cao, Nguyen and Tran (2013) claim that the term ebanking should be the common concept rather than the banking service with the
internet; however, the customers accept this concept when they can take advantage of
the service of bank via the technology device such as computer, smart phone and ipad.
It is certainly that at the beginning period of internet banking, the term e-banking is
understand as the popular way like what is happening at present. Before these authors,
Daniel (1999) mentions that the banking service supplies to the customer by the
computer, mobile phone and even the television called the e-banking. It can be an old
story about e-banking because there are many theses about this issue. However, in my


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research, I would like to mention again the concept of e-banking which would be my
target under investigation. Actually, the e-banking is understood as the connection
between banks and customers in attempt to solve the demand of financial transaction
and recording (Pham, Cao, Nguyen & Tran, 2013).In the development of technology,
Sathye (1999) believes that the e-banking supplies to its clients the online payment for
the online business along with the other added service which helps the clients have
more options.
As the studies review above, it is clearly that the internet banking service
supplies the clients with many benefits. Jayawardhena and Foley (2000) say that the ebanking changes its client’s activity. It helps the customer have more power to control

their account and have not to pay attention on the location and time. Pham, Cao,
Nguyen and Tran (2013) in their research about e-banking adoption in Vietnam
believe that the e-banking in Vietnam certainly provide its customers the authorization
to access their account whenever they have a demand. Moreover, the e-banking in
Vietnam brings about many kinds of service to guarantee the convenience, time
saving. This thing may help its client save time. On their other hand, the banks can
explore some advantages from the e-banking service. Jayawardhena and Foley (2000)
think that the banks can enjoy the cost reduction from the e-banking service. Like
what happened in the developed countries, the Vietnam banks in the beginning period
of growth increase their branches throughout the country. The purpose helps enhance
the bank image with the geographic category and provide the face to face service to
the potential clients. However, this strategy ought to deal with the huge investment
cost and the sub-management issue. Therefore, the occurrence of e-banking service


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can help ease these disadvantages of the marketing strategy. Pham, Cao, Nguyen and
Tran (2013) suppose that the cost for developing the traditional service is higher than
the online banking. Before develop more on the literature review on the internet
banking adoption, there is a brief of the current Vietnam internet banking industry
here.
2.2.2. Overview of Vietnam internet banking
The Vietnam banking industry grows strongly when it becomes a member of
WTO. The capital market; therefore, is quickly dynamic with the boom of banking
industry. Moreover, the trend of globalization blows the international trading up. A
massive number of foreign banks are established in Vietnam. We can give out here
some famous names like ANZ, HSBC, Standard charters, Citibank… and many others
come from Malaysia, Japan and Korea... Be along with a large number of local big
banks like Vietcombank, Vietinbank, ACB…

In term of the banking service, most of Vietnam big banks try to supply the full
service to their customer. The card service, ATM machine, customer care, promotion
… are provided to their clients. The e-banking service is usually the options to the
users. When the clients open the bank account in Vietnam, they are offered to fill out
some papers and decide whether to take the e-banking service or not. Some banks
charge of the initial fee to use this service whereas some ones else do not. However,
the maintain fee is applied by most of banks.
The users in Vietnam utilize the e-banking to access their financial transaction
checking, transfer money and e-shopping. With the next young generation, this service


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contains a big potential to change the way of financial transaction. Here, some of big
banks in Vietnam with their e-banking service are listed as follow:
Table 2-1: The e-banking service of some banks in Vietnam
No

Big banks in Vietnam
- Local banks
1
Vietcombank
2
Vietinbank
3
Techcombank
4
Sacombank
No
Big banks in Vietnam

5
ACB
-Foreign banks
1
ANZ
2
HSBC
3
Standard Charter

Name of e-banking service
Ibanking
Ipay
Fast E Bank
Strade
Name of e-banking service
ACBonline
ANZ internet banking
HSBC internet banking
Ibanking

Most of these banks here are popular in Vietnam. The e-banking service of
them have the same contents including checking financial transaction, transferring
cash, making a payment and supporting the credit card…. Moreover, the mobile
version is offered to help their client enjoy the convenience. Beside the big banks in
Vietnam, the medium size bank in Vietnam tries to invest about the online banking.
It is certainly that the internet banking become common in Vietnam; however,
its benefit for both banks and customers should be under the investigation. For
instance, some persons do not believe into the security of internet banking and the
service is not satisfied with the client’s demand and others… The retail banking once

faces to the unsuccessfulness because the individual client can’t believe about what
the online service can help them (Stewart, 1999). Moreover, Ahmed, Feroz, Islam and
Tarikul (2008) claim that the banks in the developing countries ought to choice their
own marketing strategy which is about the kind of delivery or the sophisticate service


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to this delivery. Vietnam is a developing country and its banking industry appreciates
the internet banking as an important strategy in the future. Therefore, the thesis here
finds out something to discuss about this issue. It is not only the impact of the
technology acceptance, the external environment factors but also the demographic
impact on the intention of using internet banking. Furthermore, there is a doubt that
Vietnamese clients’ like the banking deal. It can be that the clients would like to deal
face to face for the financial transaction rather than the online without practical
contact. Hiltz, Johnson and Turnoff (2006) argue that the customers who are interested
in the emotional and socio-emotional have a tendency to face to face transaction rather
than a boring online machine. The examination from the research here may find out
something about this situation. For one more thing, it can be that the difference on
demographic signal in Vietnam context can lead to the variance of e-banking favor.
Poon (2008) mentions about Demographic factors on the e-banking adoption.
In a conclusion, the popularity of e-banking adoption topic is understandable.
The behavior of internet users is the subjective of many researchers around the world.
For instance, web retailing adoption explores the nature of internet users Web retailing
behavior (O’cass & Fenech, 2003). Moreover, the financial behaviors in banking
industry are also the attractive problem to the scholar such as Consumer Financial
Literacy and the Impact of Online Banking on the Financial Behavior of LowerIncome Bank Customers (Servon & Kaestner, 2008). In the South East Asia, some
authors from Malaysia have the works on the e-banking service related to the
customer favor (Sohail & Shanmugham, 2003) or the customer adoption to the ebanking acceptance (Poon, 2008). In Vietnam, The e-banking, many studies are

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conducted both the local master students and the foreign master students. The
common models are about the technology acceptance model and the external
environment factors. For instance, Chong, Ooi, Lin and Tan (2010) investigate 3
variables of technology acceptance and 1 variable of external environment. Moreover,
the structural model is mentioned with many hypotheses built (Pham, Cao, Nguyen &
Tran, 2013). In the part 2.3 right here, the thesis gap is given out in detail.
2.3. Literature gap
The technology acceptance model is applied popularly to measure the reaction
of the users to the technology product or service; however, the recent variables
explored gradually give out the new concerns. Davis (1989) introduces this model
including the two main factors including the perceived usefulness and the perceived
ease of use to predict the intention of user to the technology choice. These two
variables later are applied with a large number of studies about the internet banking.
For internet banking using intention in Vietnam, Chong, Ooi, Lin and Tan (2010)
conduct an empirical analysis which is based on the technology acceptance model
(TAM). They work on both two main factors including perceived of usefulness and
perceived ease of use. They argue that the perceived usefulness is what the internet
banking help to improve its customers’ life quality. This quality seems to be the
convenience on which the customers can access the internet website; check the current
status of their financial account; manage their financial position and conduct the
transactions on their cash flow. In term of the perceived ease of use, the customer has
to face to the difficult of computer literacy. The perceived ease of use actually
measures the customer’s experience on the internet – banking service. Next, Szajna


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(1996) examines about the availability of technology acceptance model to an
empirical research. The result points out that the technology acceptance model is an
available tool to predict the intention of using the internet service. However, the
author begins to compare the availability of measurement between the old technology
acceptance model and the revise ones. Furthermore, Lee, Kozar and Larsen (2003)
summarizes the past, present and future stories of the technology acceptance model on
over one hundred studies to find out the contribution of this model to the academic
category. However, some reports claim that the technology acceptance model itself
may consist of the unsuitable things to the specific target. Therefore, it should be
added to fulfill the particular mission. Actually, the technology acceptance model
changes from time to time. Moreover, the model is structured and adjusted to enhance
its performance. Poon (2008) investigates the technology acceptance to the internet
banking with the more detail variables which investigate the customer’s adoption
momentum instead of the original variables of the perceived usefulness and the
perceived ease of use. Furthermore, Pham, Cao, Nguyen and Tran (2013) examine the
internet banking industry in Vietnam with the variables of the technology acceptance
model in the structural format. For their study, they argue the interrelationships
between the variables of the technology acceptance model to find out a lot of
hypotheses. For an instance, Admin (2007) who writes about the credit card usage
intention add more items to modify the original model. Therefore, the tendency of
extending the original models or formula is always a main source of the academic
research. In this case, because the studies in Vietnam are mainly about the variables of


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the technology acceptance model, it opens a motivation on this gap to identify the new
variables of the Vietnamese’s adoption momentum of the internet banking.
Be along with the advance of the technology acceptance model, the nontechnology variables are explored to support on the argument. One of the current
common variables is about the external environment determinants. Certainly, Lee,

(2009) agrees the important role of these variables to the e-banking adoption. For the
lately studies, a large number of researchers tries to add or combine many factors with
the technology acceptance model in their studies. Chong, Ooi, Lin and Tan (2010)
added two other variables including government support and trust beside the
perceived usefulness and the perceived ease of use of the technology acceptance
model. They argue that the role of government in Vietnam is definitely significant.
The banking industry is absolutely controlled by the State bank of Vietnam.
Moreover, the development of internet industry counts on the government investment.
Therefore, they believe that the government support factor affects the internet
banking. Moreover, the research of Pham, Cao, Nguyen and Tran (2013) is another
example. These authors also make an investigation about internet banking in Vietnam
with a structural model. Beside the three variables of technology acceptance model
such as the perceived usefulness, the perceived ease of use and the perceived risk, the
studies added the factors of bank image, trust and subjective norms. Furthermore,
Sohail and Shanmugham (2003) examine the internet banking and customer
preference in Malaysia with the reluctance factors which tested the willingness of
Malaysian customers to the change from the traditional banking service to the online
service. Next, Jaruwachirathanakul and Fink (2005) with a study in Thailand mention


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about the significant external environment variables called perceived behavior control
which has an impact on internet banking using intention in Thailand. Finally, Poon
(2008) in a research tests the Malaysian preferences to the technology acceptance
model with many detail variables. There were ten variables which are identified from
the research including convenience, accessibility, feature availability, content, design,
speed, security, privacy, bank management and image, fees and charges. Actually, the
variables of technology acceptance model are extended into the detail ones. Thus,
eight variables are belongs to the category of the technology acceptance and two

variables are identified as the external environment impact on internet banking using
intention. Based on the tendency of studies, the thesis here certainly works on the gap
by putting many detail variables to find out their impact on the intention to use
Vietnam internet banking.
Though the Vietnam bank industry becomes boomed since 2000 with many
topics of internet banking adoption in Vietnam, The gap about this issue is absolutely
continued to be exploited. For more argument, the chapter confirms the gap in internet
banking using intention studies in Vietnam right here as follow:
Chong, Ooi, Lin & Tan (2010) use the technology acceptance model and one
external environment variable to build up their model about internet banking using
intention in Vietnam. The 4 variables of their research include the perceived
usefulness; the perceived ease of use; trust and the government support. Their
hypotheses argue that there is a positive impact of these variables on internet banking
using intention in Vietnam. The questionnaire with the Likert scale is distributed to
the bank customer in Hanoi. The regression analysis then is conducted to find out the


23

relationship between their variables and internet banking using intention in Vietnam.
The result from the regression analysis gives out that there are 3 variables which have
a positive impact on internet banking using intention in Vietnam and one variable –
the perceived ease of use have the negative effect. From their result, the perceived
usefulness and the government support have the significant impact on the intension to
use e-banking. Though their research come out with something about the technology
acceptance model and external environment variable to internet banking using
intention , it is not yet enough detail about the reaction of the user to the acceptance of
internet banking service. The variables of the technology acceptance model are the
classic ones to internet banking using intention. At present, there is a demand to
explore the detail variables to draw out the bigger picture. Therefore, the internet

banking users’ adoption should be investigated with the variables which describe the
benefits of the internet banking service in detail. For instance, instead of the perceived
usefulness in the common understanding, we can examine the variables of
convenience; availability feature; accessibility; design and content or speed… which
describe the detail benefits of the internet banking service and how the user react on
these benefits. Then we add up all these variables to find out how they all have an
impact on internet banking using intention. This argument is certainly the main
motivation in my working thesis. Moreover, in the research of Chong, Ooi, Lin & Tan
(2010), the variable of government support is the significant factor which can be
included with the variables in the research here. However, only one variable of
external environment may be not enough to argue on the users’ behavior. For this
circumstance, I also believe that we should add up a few more variables like the bank


24

management and image or fees and charges which may play a considerable role in
internet banking using intention.
For more an example about the gap in my thesis, it can be written about another
research about internet banking using intention in Vietnam. Pham, Cao, Nguyen and
Tran (2013) give out the structural model for internet banking using intention in
Vietnam. One again, the usage of the technology acceptance model is mentioned in
their research. However, the way to make the investigation is very different. They
attempt to find out the chain of relationships from the variables of technology
acceptance model and the factors from the external environment instead of the total
effect of these variables on internet banking using intention. The authors argue more
than 14 relationships among the variables and the impact of the variables on internet
banking using intention. For instance, they believe that the variables of trust have a
relationship with the perceived benefits; the perceived ease of use have an impact on
the perceived benefits; the perceived ease of use have a relationship with the trust…

then, these variables affect internet banking using intention. There are 9 equations in
this research which are built up to support the hypotheses. However, the paper does
not come out any result to their argument. The purpose of paper is to introduce the
interrelationships with a structural model. Moreover, in a summary, it remains the
main variables from the technology acceptance model have an impact on internet
banking using intention including the perceived usefulness; the perceived ease of use;
the trust and the perceived benefits. Furthermore, the researchers attempt to include
the bank image variable in their model. Nevertheless, one variable may be not enough
to measure the users’ behavior when there are many variables such as the government


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support or fees and charges which seem to have the significant effect on internet
banking using intention in practical. Therefore, it should add up as many as possible
the variables which have the impact on internet banking using intention in an attempt
to draw out a bigger picture about internet banking using intention. Moreover, the
variables of the technology acceptance model may be replaced by the variables in
detail which describe the internet banking service specifically. The variables help
bring out the insight about whether the customer prefers or not prefer to the advantage
of the internet banking service.
Actually, the variables of users’ adoption momentum draw out clearly the
advantage and the issue of the internet banking. Poon (2008) in a research about the
Malaysian perspective on the e-banking service mention about 10 variables including
the variables from the technology acceptance and the variables from the external
environment. From the existing studies, the author builds up the hypothesis for the
variables of convenience; accessibility; feature availability; bank management and
image; security; privacy; design; content; speed and fees & charges. There are a lot of
items for each of the variables here. The items describe in detail how the internet
banking service can help the users enhance their performance. For instance, the clients

agree that the function of transaction detail and statement regularly help them enjoy
the convenience of the internet banking service. By that, the item contributes to
identify that convenience has an impact on internet banking using intention. The detail
of the items and the particular description of the determinants certainly help us
understand more about internet banking using intention. Moreover, how these
variables together have the regression relationship on the internet banking acceptance