Các yếu tố ảnh hưởng đến việc sử dụng dịch vụ mobile banking trong địa bàn hà nội, việt nam

Thai Nguyen University
Socialist Republic of Vietnam

Southern Luzon State University
Republic of the Philippines

FACTORS AFFECTING THE USE OF MOBILE BANKING
SERVICES IN HANOI, VIETNAM

A RESEARCH PROPOSAL PRESENTED
TO THE FACULTY OF GRADUATE SCHOOL
SOUTHERN LUZON STATE UNIVERSITY, PHILIPPINES
THAI NGUYEN UNIVERSITY, S.R. VIETNAM

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE
DEGREE OF DOCTOR IN BUSINESS ADMINISTRATION

Name: VU MANH CUONG
English Name: CAMERON

Adviser
Dr. Nelly Mendoza
(Southern Luzon State University)

HANOI, 2013



 

ABSTRACT

Mobile banking services have become the objective and inevitable trend
during the international economic integration more and more deeper in Vietnam. The
development of mobile banking services has brought significant benefits to customers
as a convenient, fast and accurate of the transaction. At the same time it also opens up
new development opportunities for the telecommunications providers, application and
software developers, e-commerce merchants and bankers in Vietnam.
The main purposes of research to investigate the key factors and assess the
level of the influence of these factors that impact to the consumer's behavior in the
use of the mobile banking services in Hanoi by extending the renowned framework of
Technology Acceptance Model (TAM).
The survey have conducted in 9 districts of Hanoi Capital including Hoan
Kiem, Ba Dinh, Dong Da, Hai Ba Trung, Cau Giay, Tay Ho, Thanh Xuan, Hoang Mai
and Long Bien with 800 respondents, in which 717 useable responses. There are 52%
of respondents are female, 71% are living in center area, and 72.5% are working in
business and state areas. The research tools used Likert scale introduced by Rennis
Likert. Five components of parameters were used to focus on the aspects of
usefulness, ease of use, cost, risks and trust of the mobile banking services in Hanoi.
The dissertation used Cronbach's Alpha to analyze the reliability of scale,
exploratory factor analysis to extract the factors, and regression analysis to analyze
and test the hypothesis and factors affecting the use of mobile banking services in
Hanoi. ANOVA analysis was used to determine the difference between the
demographic characteristics and the use of mobile banking services in Hanoi.
The results of analysis indicated that in six factors studied, there are five
factors actually affect the use of mobile banking services in Hanoi area including
perceived usefulness, perceived easy of use, perceived risk of social and safety,
perceived risk of performance and finance, and trust of customers with statistically
significant at 1% level. The remaining factor "perceived cost" had no significant
relationship with the use of mobile banking services.
The coefficient R2 adjusted = 0.331 showed that the explanation level of the
impact of independent variables on the dependent variable reached 33.1%, the

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statistical value F = 71.832 was significant level at 1% (Sig. = .000), the multiple
regression assumptions were satisfied, the model was suitable to the study.
The main findings of the research included:
(1)

There is not enough evident to conclude the difference of the use of mobile

banking services between central and suburban living areas, between male and
female, between level of education, between income and between occupation for the
customers in Hanoi.
(2)

Most consumers in Hanoi use the mobile banking services to check bank

account and transfer money. In particular, the purpose of checking account is largest
up to 77.5%. The other purposes such as pay for monthly bills, pay for shopping,
money savings are modest. The rate of money savings purpose is only 34.6%.
(3)

The major customer use the mobile banking services are people living in

urban areas, where people have a high awareness levels, accounted 71%. Female use
mobile banking services is higher than male, the rate of female accounted 52%.

Young people below the age of 35 represent a high proportion (76%) on the use of
mobile banking services.
(4)

The most consumers use mobile banking services is high education. The

customer with education level of university accounted a high percentage (73.4%). The
customers working in business or state organizations are main group of these services
in Hanoi area (72.5%).
(5)

The dissertation indicated that in six factors studied, there are five factors

affecting the use of mobile banking services with statistically significant at 1% level,
including (i) "trust of consumers" on the services has a greatest positive influence, (ii)
"perceived ease of use" has a second greatest positive influence, (iii) "perceived
usefulness" has a third greatest positive influence, (iv) "perceived risks of social and
safety" has a strongest negative influence, and (v) "perceived risks of operation and
finance" has a weakest negative influence. The factor "perceived cost" was only found
insignificant to the use of mobile banking service for customers in Hanoi.
The findings of research provide several important and useful implications for
the mobile banking service providers with the deeply strategic insights to improve
mobile banking services to gain more and more customer acceptance in Hanoi
particularly and Vietnam generally.
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TABLE OF CONTENTS
Chapter I.
  INTRODUCTION ..................................................................................... 1
 
1.1 Background of the study ...................................................................................... 3
 
1.2 Statement of the objectives .................................................................................. 4
 
1.3 Hypothesis............................................................................................................ 4
 
1.4 Significance of the study...................................................................................... 5
 
1.5 Scope and Limitations.......................................................................................... 6
 
1.6 Definition of terms ............................................................................................... 7
 
Chapter II.
  REVIEW OF RELATED LITERATURE AND STUDIES..................... 9
 
2.1 Banking in Vietnam ............................................................................................. 9
 
2.2 Mobile Banking Services ................................................................................... 10
 
2.3 Mobile Financial Services.................................................................................. 13
 
2.4 Mobile Commerce Services ............................................................................... 15
 
2.5 Mobile banking technology ............................................................................... 16
 
2.6 Mobile Banking in Vietnam............................................................................... 20

 
2.7 Consumer Behavior ........................................................................................... 22
 
2.8 Expectancy-Value Theory ................................................................................. 25
 
2.9 The Theory of Reasoned Action ........................................................................ 26
 
2.10 The Theory of Planned Behavior ..................................................................... 27
 
2.11 Technology Acceptance Model ....................................................................... 29
 
2.12 The conceptual framework .............................................................................. 36
 
Chapter III.
  RESEARCH METHODOLOGY .......................................................... 42
 
3.1 Research design ................................................................................................. 42
 
3.1.1 Pilot study ................................................................................................... 43
 
3.1.2 Variable measurement ................................................................................ 43
 

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3.2 Determination of Sample size ............................................................................ 46

 
3.3 Sampling design and techniques ........................................................................ 47
 
3.4 Research Instrument........................................................................................... 47
 
3.5 Data gathering procedure ................................................................................... 48
 
3.5 Data processing method ..................................................................................... 49
 
3.6 Statistical treatment ............................................................................................ 49
 
3.6.1 Reliability Analysis of Scale....................................................................... 49
 
3.6.2 Exploratory Factors Analysis ...................................................................... 49
 
3.6.3 Regression analysis ..................................................................................... 50
 
3.6.4 Testing the hypothesis................................................................................. 50
 
3.7 Evaluation of the reliability of scales................................................................. 51
 
Chapter IV.
  RESULTS AND DISCUSSION ........................................................... 55
 
4.1 Profile of the respondents .................................................................................. 55
 
4.1.1 Demographic characteristics ....................................................................... 55
 
4.1.2 The status of the use of banking services.................................................... 57
 

4.2 Purpose of use mobile banking services ............................................................ 58
 
4.3 Analysing the differences in the use of mobile banking services ...................... 62
 
4.3.1 The difference by living area ...................................................................... 62
 
4.3.2 The difference by gender ............................................................................ 63
 
4.3.3 The difference by age.................................................................................. 63
 
4.3.4 The difference by education........................................................................ 65
 
4.3.5 The difference by occupation...................................................................... 65
 
4.3.6 The difference by income ........................................................................... 66
 
4.4 Exploratory Factor Analysis .............................................................................. 67
 
4.5 Correlation analysis ........................................................................................... 73
 
4.6 Regression analysis ............................................................................................ 74
 

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4.6.1 Regression model ........................................................................................ 74

 
4.6.2 Tesing the assumptions of the regression model ........................................ 78
 
Chapter V.
  SUMMARY, CONCLUSION AND RECOMMENDATIONS ............... 81
 
5.1 Summary of results and findings ....................................................................... 81
 
5.2 Conclusion ......................................................................................................... 83
 
5.3 Recommendations .............................................................................................. 85
 
REFERENCES ........................................................................................................ 90
 
Appendix 1. QUESTIONNAIRE............................................................................. 97
 
Appendix 2. DESCRIPTIVE STATISTICS .......................................................... 104
 
Appendix 3. RELIABILITY ANALYSIS - SCALE (ALPHA) ............................ 106
 
Appendix 4. EXPLORATORY FACTOR ANALYSYS (EFA) ........................... 112
 
Appendix 5. REGRESSION .................................................................................. 117
 

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LIST OF TABLES
Table II.1 List of mobile banking services in Vietnam ............................................... 21
 
Table III.1 The measure indicators for customer behavior .......................................... 44
 
Table III.2 Sampling allocation ................................................................................... 47
 
Table III.3 Reliability analysis of scale ....................................................................... 52
 
Table IV.1 Profile of respondents ................................................................................ 56
 
Table IV.2 Time to the nearest bank branch ................................................................ 57
 
Table IV.3 The use of mobile banking services .......................................................... 57
 
Table IV.4 Purpose of use mobile banking services .................................................... 58
 
Table IV.5 Purpose of use mobile banking services by gender ................................... 59
 
Table IV.6 Purpose of use mobile banking services by region.................................... 59
 
Table IV.7 Purpose of use mobile banking services by age ........................................ 59
 
Table IV.8 Purpose of use mobile banking services by education level ..................... 60
 
Table IV.9 Purpose of use mobile banking services by occupation ............................ 61
 
Table IV.10 Purpose of use mobile banking services by income ................................ 61
 

Table IV.11 Analysis of difference by living area ...................................................... 62
 
Table IV.12 Analysis of difference by gender ............................................................ 63
 
Table IV.13 Analysis of difference by age.................................................................. 64
 
Table IV.14 Analysis of difference by education ....................................................... 65
 
Table IV.15 Analysis of difference by occupation ..................................................... 66
 
Table IV.16 Analysis of difference by income ........................................................... 66
 
Table IV.17 Exploratory factor analysis results. ......................................................... 68
 
Table IV.18 Extraction component result: TRUOVER ............................................... 70
 
Table IV.19 Components derived from results of EFA ............................................... 70
 
Table IV.20 Correlations matrix .................................................................................. 73
 
Table IV.21 Results of regression analysis .................................................................. 74
 
Table IV.22 Nonparametric correlations ..................................................................... 79
 

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LIST OF FIGURES
Figure 1. Mobile banking architecture ......................................................................... 17
 
Figure 2. Mobile banking technology model ............................................................... 19
 
Figure 3. Factors affecting consumer behavior............................................................ 23
 
Figure 4. Theory of Reasoned Action .......................................................................... 27
 
Figure 5. Theory of Planned Behaviour ....................................................................... 28
 
Figure 6. Technology Acceptance Model .................................................................... 29
 
Figure 7. The conceptual framework ........................................................................... 41
 
Figure 8. Research process .......................................................................................... 42
 
Figure 9. Adjusted research model .............................................................................. 72
 
Figure 10. Chart of standardized residuals and residual predicted value .................... 79
 
Figure 11. Chart of residual distribution ...................................................................... 80
 

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Chapter I. INTRODUCTION

The rapid development of science and technology, particularly information
technology, has affected all aspect of life-socio-economics of Vietnam. This
development process has changed the perception of the use of high-tech services in
many areas, many different economic sectors, especially in the field of
telecommunications, finance and banking. Online transactions, payment on Internet
as well as mobile network, etc. have become the development and competition trends
of integrated service providers in Vietnam.
Development of banking services based on mobile phone technology has
become the objective and inevitable trend during the international economic
integration more and more deeper in Vietnam. The development of mobile banking
services has brought significant benefits to customers as a convenient, fast and
accurate of the transaction. At the same time it also opens up new development
opportunities for the telecommunications providers, application and software
developers, e-commerce merchants, bankers, etc. in Vietnam.
Mobile banking services are tools that permits user to carry out transactions
with its bank via cell phone. The concept of this service had been raised since late 20th
Century. Traditional payment methods such as bank transfer, credit card, debit card,
bank notes, etc. have been helping the payment-via-bank being convenience and
popular in several developed countries that buyers will not need being face-to-face
with seller, and cash becomes useless. Everything has its pros and cons. The
traditional payment methods have certain limitations. For examples, bank transfer and
notes transactions must be performed within work time and places; credit/debit cards
depend on sellers and the card itself.
From early 21st century, Internet banking has been emerging and serving
consumers with certain conveniences by mean of payment. Buyers can make payment
from anywhere and at anytime. However, some online security limitations lead to the
imposture of banking cards to thieve money in several countries. Consequently,

consumers have been hesitated to use Internet payment. In comparison with stated
payment methods, Mobile banking has been less risky by transaction process while

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still providing users with its convenience and high security. However, this service is
not yet popular in Vietnam so far although lots of Banks are ready to make use of it.
According to

The State Bank of Vietnam, in front the fast and strong

development of information technology and telecom, Vietnam Prime Minister signed
Decision No. 2453/QD-TTg approved the project to promote non-cash payment
period 2012-2015, in which, electronic payments are a key task of the project. The
purpose of the decision to reduce the consumption of cash and create consumer habits
non-cash in large populations (Bui Quang Tien, 2012). General Director of State
Bank of Vietnam in HCMC said: many people use mobile for payment as a modern
payment methods and targeting high-tech is a perfect fit. The investment of banks to
develop mobile payment is a trend worth encouraging. With the same vision, Leaders
of VietA Bank said, developing money transaction services to a large extent through
mobile phone is a new trend of the banking sector, although some banks start to
provide the trial basic package but they have successfully implemented.
The ubiquity of mobile phones is changing the way for consumer access
financial services. The mobile banking was developing in some countries. Some new
services allow consumers to get account information and conduct a money transaction
with the banks (named “mobile banking”) and others allow consumers to make a

payment for goods and services (“mobile payments”). Since 2009, many banks in
Vietnam have invested very much in technological infrastructure, diversified banking
products and services, improved service quality, and built multi-channel service
systems. (Le Thanh Tam, 2012). Mobile phones and mobile Internet access are in
widespread use in Vietnam. But, Mobile banking is still not popular. Sometimes it is
ambiguous or expensive in the mind of many customers.
In brief, Vietnam has more than 86 million population (GSO, 2012), 120.7
million mobile subscribers, 15.5 million fixed subscribers, over 31% rate of people
use the Internet regularly, 30.2 million mobile users and (MIC, 2012), 44 bankers
with high-tech infrastructure (SBV, 2013), and more then 400 Value added services
providers (MIC, 2013). It should be a great potential market for the development the
high-tech financial services products, but mobile banking just stop at checking bank
account, paying for telephone fee (top-up) in a small set of customers, pay for
monthly bills (such as electric invoice) in restrict area, pay for purchase in simple
business (e.g. air-tickets). It is really not popular. The question is what issues or
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factors is affecting positive and what is negative to the use of mobile banking services
in Vietnam. Grasp deeply this problem can alter the behavior of consumers towards a
cashless society. At the same time, it is also a basic promoting robustly the
development of mobile banking services in Vietnam.
1.1 Background of the study
The study of consumer behavior is an important part of the research needs of
customers. To succeed in any business at all the fields, especially in fast-growing and
dynamic markets as today's, entrepreneurs, marketers need to know clearly about
customers such as the needs, convenience, the difficulty, suitable time, etc. from the

consumers' side. They need to understand absolutely the factors affecting to
consumers' decisions and how customer make a buying decisions.
Numerous

theoretical

models

have

been

launched

and

continuous

improvement to serve the behavioral research, human behavior in general and then
applied to the study and interpretation of consumer behavior. Most notably, Theory of
Reasoned Action Models introduced Ajzen & Fishbein (1975), often referred to TRA
model, and then extended into TPB model (Ajzen, 1991). Davis (1989) has applied
this theory to build the Technology Acceptance Model (TAM), and then Venkatesh
& Davis (2000) has built Technology Acceptance Model 2 (TAM2).
Thousands of studies have applied TAM model to explain the behavior of
using integrated technology services on many different areas in many countries
around the world. In the technology service sector in general and mobile banking
services in particular, the choice and use of customer is also comply the basic
principles of psychology and behavior, but specific expression of consume behavior
in these situations, conditions and environment are totally different. This has made the

line of research on consumer behavior continues incessantly.
In recent years, e-banking services in general and mobile banking in
particular, has attracted particular and get the attention of researchers, managers. has a
lot of research some countries around the world, such as China, Phillipine, Brazin,
Mexico, Malaysia, South Africa, Indonesia, Singapore, India, Lavia, Ausralia, United
Kingdom etc. But, in-depth studies of this field in Vietnam were very rare. So far
there is no research about the use of mobile banking services in the area of Hanoi
specifically and Vietnam overall.
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Stemming from such pressing issues, this study was conducted to explore the
factors that influence the use of mobile banking services of customers in Hanoi. The
study will contribute to identify and propose the policy for the development of this
services in the near future.
1.2 Statement of the objectives
The overall objective of the research is to analyze the consumer behavior in
the use of mobile banking services in area of Hanoi, Vietnam. The study specifically
seeks to:
-

Determine the relationships of the demographic characteristics (age, gender,
occupation, income and educational attainment) of the respondents and the
use of mobile banking services;

-

Determine the differences in the purpose of the use of mobile banking services
by customers in Hanoi by gender, age, education, occupation and income;

-

Determine the factors affecting the use of mobile banking services by
consumers in Hanoi;

-

Analyze the level level of influence of the different factors to the use of
mobile banking services in Hanoi; and

-

Propose solutions to improve mobile banking services to increase the number
of users in Hanoi, Vietnam.

1.3 Hypothesis
Mobile banking services is still relatively new to many Vietnamese.
Awareness of the benefits that services bring them is not yet complete. The overall
objective of the thesis is to analyze the consumers' behavior in the use of mobile
banking services. Based on the theory of behavior, the theory of technology
acceptance model, related theories, and the results of previous studies, this research
focuses on some important aspects of the services for the consumers in Hanoi region.
With the research objectives, the hypothesis are stated as following:

4

 

H1:

The use of mobile banking services are affected by the geographical location
and demographic characteristics such as age, gender, education, area,
occupation and income.

H2.

Perceived usefulness of mobile banking services has a positive impact on the
use of the services

H3:

Perceived of ease of use of mobile banking services has a positive impact to
the use of the services

H4:

Perceived costs to use mobile banking services have a negative impact to use
the service

H5:

The trust of customers on mobile banking services has a positive impact to the
use of the services

H6:

Perceived risks of customers for mobile banking services have a negative
impact to the use of the services

1.4 Significance of the study
Regarding scientific
First, the thesis systemized the basis of the theory of consumer behavior
generally and Theory of Technology Acceptance Model (TAM) in particular.
Second, the thesis has built the research model of consumer's behavior in the
use of mobile banking services in Hanoi.
Regarding practice
First, the study enriches the practical research in the field using mobile
banking services in Vietnam generally and Hanoi in particular.
Second, the study outlines a comprehensive picture of the use of mobile
banking services in Hanoi. And then identify the major factors affecting the use of the
services of customer in the studied area.
Third, the study suggests the main recommendations of the policy for the
mobile banking service providers in Hanoi, practical contribution to improving
mobile banking services in Vietnam.

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Fourth, the study is a research can make a good reference material for
managers, service providers, researchers and practitioners in the management
agencies, universities of Vietnam and International.
1.5 Scope and Limitations

The research will be conducted within Hanoi Capital with population of more
than 6.4 million, the one of two biggest cities in Vietnam. The respondents were
living in Hanoi and using mobile banking services (included SMS banking and
Internet banking). The survey was conducted mainly in central areas because of
customers have enough skills and knowledge to assess the services. The districts was
interviewed including: Hoan Kiem, Ba Dinh, Hai Ba Trung, Dong Da, Cau Giay, Tay
Ho, Thanh Xuan, Hoang Mai, and Long Bien.
Although take advantage inherited from the previous study and authors have
been many attempts to collect and investigate data of the use of mobile banking
services in the area of Hanoi. However, the size of the survey sample is small
compared with the number of customers using mobile banking services in this sector
because of the limitation of time and financial resources.
The measurement of factors affecting the use of mobile banking services is
mainly based on the model approach technology acceptance and theory of consumer
behavior. In addition, the time for survey is limited, the surveyed area is just the
central districts, some customers may not understand clearly the various functions of
mobile banking services. Hence the explanatory of variables in the model of the study
is not so high. Moreover, the research recommendations were suggested by the
approach through the quantitative analysis. In fact, there are many other methods and
more convincing approaches that may have a better suggestions.
In general, quantitative approach is necessary and useful, but it still is not
enough to generalize the whole picture of mobile banking services in whole Vietnam.
Therefore, a more long-term study will bring the better results and suggest more
details of recommendations.

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1.6 Definition of terms
The terms defined in this section is intended only to explain clearly the
meaning that is used in this document.
•

Mobile banking refer to the systems that allows customers of a financial
organization to conduct the banking requests such as money transfer, account
checking, money savings, etc. by mobile device through mobile network instead
perform at transaction office or branch of bank.

•

Mobile banking service refer to the type of services provide by cooperation
between bank, operators, providers and merchants that allows customers have the
bank account and mobile number to process the bank services such as managing
finance, paying for goods or services either at the point of sale or remotely,
transferring money, creating an investment, saving money, etc. at any time and
any where with mobile handsets or personal digital devices. In some context,
mobile banking service is also called "Mobile banking".

•

SMS banking refer to the service or type of access the core banking system using
shot message service of mobile network to get information or operate the selected
banking services. SMS banking is considered the beginning of mobile banking
services.

•

Devices refer to mobile handsets of personal digital devices that use for conduct
mobile services through the mobile phone networks. It brings the capacities
transfer data between customer side and mobile banking service system by
3G/2G/Egde/Wi-Fi technologies.

•

Applications refer to the software that is designed and built for mobile
technology platform. It is installed into mobile device to operate the specific
functions such as information access, financial management, banking features
through mobile phone. Application is an important component in the supply chain
of the mobile banking services.

•

Security refers to the solution or policy to protect data and transaction between
end-user device and core banking system.

•

Operators refer to mobile phone providers who own the mobile networks and
provide mobile phone services to consumers in Vietnam such as Viettel,
Vinaphone, MobiFone, Vietnamobile, Gtel, etc.

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•

Developers refer to the IT companies developing the software for the mobile
banking service systems including the system components are implemented inside
service providers and banks, application or tools for mobile devices of consumers
side.

•

Merchants refer to the traders, suppliers, retailers, etc. selling the goods or
services and accept the type of online payment such as Internet payment, SMS
payment, Mobile payment, etc.

•

Service Providers refer to the companies bring the mobile banking services to
consumers. Service provider may be a bank or operator to serve their customers.
But, a independent company will have capacity to connect all the banks and
operators. Thence, they have capacity to provide mobile banking services to any
consumer with the same policy. Thus, service provider have to built the service
system, integrate with core banking system of all the bank to process the bank
requests, and connect with all the operators to give capacities use banking services
for any mobile subscriber via mobile networks.

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Chapter II. REVIEW OF RELATED LITERATURE
AND STUDIES
In this chapter, authors reviews the related literature and studies on banking in
Vietnam with updated data from Vietnam government (State Bank of Vietnam);
Mobile banking in Asia and some other countries, that also present the potential
market of mobile baking services; Mobile financial services has many point are the
same with mobile banking that is specify in some previous research and definition of
bankers, that are review in the next paragraphs. The theory of Consumer Behavior,
Theory of Reasoned Action – TRA, Theory of Planned Behavior – TPB, ExpectancyValue Theories, the technology acceptance model (TAM) (Davis, 1989), related
theories and definition of Kotler & Armstrong on the factors affecting the consumer
behavior are reviewed. The theoretical and conceptual framework of the research is
presented in the last section.
2.1 Banking in Vietnam
According to State Bank of Vietnam (SBV), by the end of 2012 in Vietnam,
there are total 44 banks (excluding 1 Vietnam Development Bank, 1 Vietnam Bank
for Social Policies, Joint-­‐venture Bank, Branches of Foreign Bank, Rep. Office of
Foreign Banks), including 5 Stated owned Banks (Agribank, BIDV, Vietinbank,
Vietcombank, and Mekong Housing Bank); 34 Commercial Banks (such as: ACB,
Eximbank, Techcombank, MBBank, Maritime, etc.); and 5 wholly Foreign-owned
banks (HSBC, Standard Chartered, ANZ, Hong Leong, Shinhan).
Total assets of 44 banks is ~188,74 Billions USD (in which, Hong Leong &
Standard Chartered ~3 Billion USD). In 12 years, total assets of the whole banking
system jumped 18 times from US$10 billion in 2000 to US$180 billion as end of
2011. in the total percentage: 47% owned by State-owned Commercial Banks; 49%
Joint-stock Commercial banks; 4% wholly Foreign-owned banks. Top 10 Biggest
Commercial banks: ACB (12%), Eximbank (8%), Techcombank (8%), Sacombank
(6%), MBBank (6%), Maritime (5%), VIB (4%), VPBank (4%). MBbank is first
ranking by ROA with 2.54%. Maritime is first ranking by ROE with 35.1%. VCB has
the most extensive ATM network in Vietnam (Le Thanh Tam, 2012).

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Bank cards have become a popular tool in Vietnam, that is widely used by
many users with fast growing rate. The end of April was 44.6 million cards have
increased 12 times compared to year of 2006, total POS (Point of Sale) is up to
83.000 to accept payments by bank cards that increased 5.9 times compared to 2006.
Number of ATMs is 13.700, increased 6 times compared to 2006 (Bui Quang Tien,
May 2012). Compared to 2003, bank cards have increased 181 times, ATM increased
45 times compared to 2003 and POS increased 11 times (Nguyen Tu Anh, 2012)
Up to 31/12/2011, Hanoi Capital has 14.500 POS and 2.150 ATM, and 3.780
state organizations paid monthly salary via bank accounts directly for their staffs
(Nguyen Minh Tuan, 2012); Hochiminh City has 17.616 POS and 3.679 ATM, there
are 111.861 customers (including business and individuals) use e-banking (internet
banking, phone banking and mobile banking) with total transactions 1.732.654 and
value up to 49.436 billion VND (Nguyen Van Dung, 2012).
According to Smartlink Card, Vietnam Banking switching system has linked
ATM, POS and Mobile together ad payment gateway. The capacities of banking
system are like other countries. That is available to provide the diversification of
payment services, but her suggest that it is better to synchronize standards between
the payment gateway and e-commerce portal (Nguyen Tu Anh, 2012).
2.2 Mobile Banking Services
The rapid growing of mobile service in Vietnam and Asia has created
opportunities for new and innovative mobile services. Some of the most promising is
Mobile finance service including mobile banking, mobile payment and mobile
commerce services. Simply, mobile banking allow end-users to get information from
its bank via SMS such as balances, transaction history, promotion information,

confirmation for direct payment (Niina M, Matti R, Virpi K.T, 2004). They also said
that mobile payments must become faster, easier, and more convenient to use when
3G mobile network and application and devices mature. Before that Niina, Varshney
and et. (2002) showed mobile payments are expected to become one of the most
important applications in m-commerce. In 2003 Jarvenpaa & et finding the other
aspect of mobile banking services are valued by users because of the inherent time
and place independence, and the overall effort-saving qualities.

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in other words, mobile banking service is the way to deliver the banking and
financial services via mobile equipment including cell phones, smart phones, and
personal digital assistants (Ann Ho, 2010).
Compare with traditional money transfer methods via Banks, the cost is saved
average 19% when using the mobile banking service for the same purpose (McKay,
Claudia and Mark Pickens, 2010). Consumers no need to transport to bank office in
the working time and wait to process paper. User can make the money transfer action
any when and any time.
Mobile banking is a subset of electronic banking which underlies not only the
determinants of the banking business but also the special conditions of mobile
commerce (Pousttchi K., 2004) In the broader sense, mobile banking as that type of
execution of financial services in the course of which the customer uses mobile
communication techniques in conjunction with mobile devices.
In Asia, mobile banking evolve the new service for both banks and operators.
Some mobile companies develop banking service as a part of mobile service. They
cooperate with banks to get information and submit banking actions as agency of

banks. In other side, bank develop gateway to send information and command or
confirmation to consumer via mobile phone. The banks see telecom network as a
transportation of information only. Both ways bring more advantage to their customer
as strong point in competition to other banks. As an early adopter of mobile banking,
Asia can set global standards in business models and in supervision and regulation.
One notable development that is almost exclusive to Asia is the increasing number of
telecommunications companies buying stakes in banks and financial services
companies.
Most Asian banks located mobile banking service as a value added service for
banking service that help customer protect account and make more facilities for
traditional banking activities. That is why Japan and South Korea have the highest
mobile banking penetration rates; in each country, nearly 100% of active banking
customers have access to mobile banking services. The number of mobile banking
users worldwide is forecasted to grow from 55 million in 2009 to 894 million in 2015,
at a compound annual growth rate of 59% (Ann H., 2010).

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In 2010, China Mobile has over 500 million of subscribers, acquired a 20%
stake in Shanghai Pudong Development Bank in an explicit strategy to enter the
mobile banking market (Bloomberg News, 2010).

Similarly, according to The

economic Times 16 April 2010, South Korea’s SK Telecom bought 49% of Hana
Financial Corporation’s credit card unit and Japan’s NTT DoCoMo purchased stakes

in Sumitomo Mitsui Card Corporation and UC Card Corporation.
Many Banks in Asia are already providing mobile services over SMS, mobile
web and handset applications for personal finance management. Juniper estimate the
number of mobile subscribers who use mobile banking will exceed 400 million
globally by 2013.
Mobile banking (Internet banking using mobile devices, also known as MBanking, SMS Banking etc.) can perform account balances and transaction history
inquiries, funds transfers, and bill payments via mobile devices (Laukkanen, 2007;
Turban, King, Viehland, & Lee, 2006).
Identifying and understanding the factors influencing attitude and behavioral
intention toward continuing to use the mobile banking is one of the fundamental
requisites for development of mobile banking services (Hsiu-Fen Lin, 2011). Mobile
banking was provided by three major mobile service providers in Taiwan. Chunghwa
Telecom, Far EasTone and Taiwan Mobile co-operated to 20 banks (Taiwan
Telecommunications Report, 2009). By January 2009, Taiwan had 1.55 million
mobile commerce (m-commerce) customers (approximately 7.77% of the total
population) (iThome, 2009). However, according to a report of MIC (Market
Intelligence Center, Taiwan’s leading IT industry analysis and consulting service
provider) states that less than 2.3% of banking transactions in Taiwan were conducted
through mobile devices (MIC, 2009). Moreover, mobile banking remains in its
infancy and international adoption rates are low (Datamonitor, 2009).
Mobile Payments has big opportunity in the future, as Juniper analysis report
Mobile Payments will grow from $170B in 2010 to almost $630B in 2014, Number of
mobile payment users will grow from 351 million to 1.06 billion, Mobile payment
transactions will grow from 37.4 billion to 1.13 trillion (Jorge Campos, 2011).

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