Consumer intention and credit card adoption in Vietnam

Oanh Dinh Yen Nguyen

33 citations0/0 files storedAsia Pacific Journal of Marketing and Logistics

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Technology Adoption and User Behaviour Consumer Behavior and Marketing Influence Health, Technology, Consumer Behavior

Abstract

Purpose There is limited research on consumer intention and credit card adoption in the transitional economies of Southeast Asia. The purpose of this paper is to investigate the key elements that influence an individual’s intention of adopting credit cards in the transitional economy Vietnam. Design/methodology/approach A questionnaire was developed based on the technology adoption literature. After data cleaning, 595 responses were deemed valid. Factor analysis (EFA and CFA) was utilized on split samples, and a structural equation model developed to identify the influential technology adoption factors. Findings The analysis found strong support for the hypotheses theoretically developed. In the transitional economy of Vietnam, consumer’s intention to adopt credit cards was influenced by “Perceived usefulness (PU),” “Perceived ease of use (PEOU),” “subjective norm (SN),” “perceived self-efficacy (PSE)” and “Anxiety”. However, “perceived financial cost (PFC)” was not a significant factor. Research limitations/implications The use of cross-sectional data does not enable the analysis of time sequence of the determinants of consumer intention. Practical implications This research provides a body of knowledge on modern banking payment systems and credit card utilization factors in the transitional economy of Vietnam which has relevance for other transitional as well as developing economies of Southeast Asia, and is a good reference source for foreign investors, banks and card service companies. Originality/value To date, there are no studies that explore the interaction between “PU,” “PEOU,” “PFC,” “SN,” “PSE,” “Anxiety” and “Behavioral Intention” in the context of the Vietnamese credit card market, nor other transitional markets in Southeast Asia.

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References

2003Common method biases in behavioral research: A critical review of the literature and recommended remedies.1989Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology 2003User Acceptance of Information Technology: Toward A Unified View1 1988Structural equation modeling in practice: A review and recommended two-step approach.2019Diffusion of Innovations 1 1975Belief, Attitude, Intention and Behavior: An Introduction to Theory and Research 1989User Acceptance of Computer Technology: A Comparison of Two Theoretical Models 2000A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies

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