UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Luong Tung Bao Thesis The Adoption of TradeCard payment in Vietnam Supervisor Prof Nguyen Dong Phong November 2013 Page i Ackn[.]
UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Luong Tung Bao Thesis The Adoption of TradeCard payment in Vietnam Supervisor: Prof Nguyen Dong Phong November 2013 Acknowledgement The process of writing this thesis is a challenging task and an insightful research Without the love, the care, the full support and guidance from my professors and my friends, I may not reach the target and complete the journey successfully First and foremost, I would like to express great gratitude to my thesis advisor, Dr Nguyen Dong Phong for his help and guidance in conducting this research and thanks for his generous as well as his support during the time I study here Special thanks to Dr Dinh The Hoang for his dedicated guidelines in data analysis section And further thanks go to the members of my thesis committee for their feedback, comments and encouragement The thesis would not have achieved this quality without their assistance Great thanks to my special friends in for their assistance in my life and my study Special thanks to responders for their enthusiasm to help me collect the data and thanks to ISB friends for happy moments we spent together Finally, I would like to give my deepest and greatest thanks to my family for their love and their encouragement Thank to my Dad who always trust me, teach me to be more patient to achieve success in study and life; thank to my sweet Mom who always gives me tender cares and encourages my dreams and aspirations Page i Abstract “Vietnam continues to be one of the world’s fastest growing sourcing locales, particularly for footwear and apparel,” said Drew Dempsey, Vice President of Global Services, TradeCard Asia-Pacific in celebration of opening new offices in Vietnam in 2012 TradeCard is one of among electronics payment methods applied for over eight years in Vietnam, marking a significant development for society in general and in banking particularly Besides that, more and more Vietnamese companies have started using TradeCard to support its business but it is still an unpopular concept for many Vietnamese people It has not caught on with the banks customer in Vietnam Thus, the main purpose of this study is to identify the adoption of TradeCard in Vietnam The study starts with the bases on some theory models such as Technology Acceptance Model (TAM), and computer anxiety in performing TradeCard payment as a moderator to employ for the analysis TradeCard payment adoption, specifically for TradeCard in Vietnam Data of the quantitative survey is gathered from Vietnamese users in two biggest cities Ha Noi and Ho Chi Minh, who have been using this payment method with a snow ball sampling method was used to sample the subjects The results are expected to support the proposed hypotheses They are expected to provide trading companies, bankers, and government with more information about the adoption of TradeCard in Vietnam Limitations, discussions and suggestions will be explained the results in research and practice Page ii Table of Contents Acknowledgement i Abstract ii Table of Contents iii List of tables vi List of figures vii Chapter I: Introduction .1 1.1 Background 1.2 Research Purpose, Objectives, and Research Questions 1.2.1 Research Structure 1.2 Scope and Limitations Chapter II Literature Review .4 2.1 Definitions of Terms 2.1.1 Electronics Banking 2.1.2 Electronics Money 2.1.3 Electronics Payment 2.1.4 TradeCard payment 2.1.5 Electronics Payment Mean .4 2.2 Electronics Commerce Market and Electronics Payment Market in Vietnam .5 2.3 Theoretical Background of Technology Acceptance Model 2.3.1 Technology Acceptance Model (TAM) 2.4 Factors influencing the use of TradeCard and its relationship between Model Constructs .8 2.4.1 Perceived Ease of Use (PEU) 2.4.2 Perceived Usefulness (PU) .8 2.4.3 Perceived Risk (perceived risk in the context of online transaction (PRT) and perceived risk with product/service (PRP)) 2.4.4 Information on TradeCard payment (IF) 10 Page iii 2.4.5 Computer Anxiety (CA) 10 2.4.6 TradeCard payment Use (TPU) 11 2.4.7 The Relationship among Perceived Usefulness (PU), Perceived Ease of Use (PEU) and TradeCard payment Use (TPU) 12 2.4.8 Perceived Risk (PR) and TradeCard payment Use (TPU) 12 2.4.9 Information on TradeCard payment (IF) and Perceived Risk (PR) 13 2.4.10 Information on TradeCard payment (IF) and Trade Card payment Use (TPU) .14 2.4.11 Computer Anxiety (CA) on Trade Card payment Use (TPU) 14 2.5 Research Model 15 Chapter III Research Design 16 3.1 Research Questions and Associated Hypotheses 16 3.2 Subjects and Sampling 16 3.3 Instrument design 16 3.4 Expert Validity 19 3.5 Pilot Test and Face Validity 19 3.6 Quantitative Research .19 3.7 Data Analysis 20 Chapter IV Data Analysis 21 4.1 Data Collection 23 4.2 Descriptive Analysis 23 4.2.1 Respondents’ Demographics 24 4.2.2 Descriptive Statistics 25 4.3 The Validity and Reliability 28 4.4 Explanatory Factor Analysis 28 4.5 Regression Analysis 30 4.5.1 Information on TradeCard payment Predicting Perceived Risk with Product/Service 31 Page iv 4.5.2 Information on TradeCard payment Predicting Perceived Risk in The Context of Online Transaction 32 4.5.3 Variables Predicting TradeCard Payment Use .33 4.5.4 Comparisons between Two City Groups in Regression Analysis 35 4.6 Path Analysis 36 4.6.1 Effective Estimation of Perceived of Use on TradeCard payment Use 37 4.6.2 Effective Estimation of Perceived Usefulness on TradeCard payment Use 38 4.6.3 Effective Estimation of Computer Anxiety on TradeCard payment Use38 4.6.4 Effective Estimation of Perceived Risk with Product/ Service on TradeCard payment Use 38 4.6.5 Effective Estimation of Information on TradeCard payment Use 38 Chapter V Results 41 5.1 Findings and Conclusions .41 5.1.1 What Significant Factors Affecting the Use of TradeCard payment in Vietnam 41 5.1.2 How Significant Factors Affect the Use of TradeCard payment in Vietnam 42 5.3 Managerial Implication 43 5.3.1 Perceived Ease of Use .43 5.3.2 Perceived Usefulness 43 5.3.3 Perceived Risk with Product/Service 44 5.3.4 Information on TradeCard Use .44 5.3.5 Computer Anxiety 45 5.4 Limitations and suggestion 46 References 47 APPENDIX A – QUESTIONARE (ENGLISH/VIETNAMESE) 49 APPENDIX B – PILOT TEST ANALYSIS 54 APPENDIX C – TEST OF ASSUMSION OF REGRESSION 56 Page v List of Tables Table 3-1 Measure of research variables for designing questionnaire……………………… 17 Table 4-1 Response rate in Questionnaire Survey 23 Table 4-2 Response rate in Questionnaire Survey among professional groups 23 Table 4-3 Demographic Statistics with Frequency and Percentage .24 Table 4-4 Demographic Statistics with Frequency and Percentage .26 Table 4-5 Reliability of the Developed Questionnaire 28 Table 4-6 Principal Component Analysis of the Developed Questionnaire 29 Table 4-7 Correlation Coefficients among Independent Variables under Study .30 Table 4-8 Regression Analysis for Information on TradeCard payment Variables Predicting Perceived Risk in the Context of Online Transaction 31 Table 4-9 Regression Analysis for Information on TradeCard payment Variables Predicting Perceived risk with product/service 32 Table 4-10 Regression Analysis for Variables Predicting TradeCard payment use .33 Table 4-11 Hypothesis Test Summary of the Predictors Effect on Criteria 35 Table 4-12 Summary of the Regression Analysis for Separate City, Ha Noi and Ho Chi Minh 36 Table 4-13 Summary of Estimating Direct and Indirect 38 Table 5-1 Summary of Hypothesis 42 Page vi List of Figures Figure 2-1 Research Model .15 Figure 3-1 Research Flowchart 21 Figure 3-2 The Structure of the Method approach for this Research 22 Figure 4-1 Association of the Factors in Regression Analysis Model 34 Figure 4-2 Relationships in Path Analysis Model 37 Page vii Chapter I: Introduction 1.1 Background The Internet has grown at a remarkable pace over years, while e-commerce has become important issues nowadays, especially for international trade, TradeCard payment has been becoming an indispensable payment trend in a modern society However, the development banking system has largely been impacted by the dominance of cash in Vietnam For many years, cash is still the “king” in Vietnam and most transactions are dominated by cash since the considerable personal consumption is done through the medium of cash up to now For corporations in particular, this has resulted to problems of cost and delay, arising from the counting, bundling, transporting and depositing of large volumes of cash which has to be handled manually, as well as the risk and inconvenience in transactions with their fellow trader The State Bank of Vietnam (SBV) made efforts in reducing the volume of cash payment transactions in the year 2006 by issuing non-cash-transaction project launched in 2006, and expect to finish this project on 2020 (SBV, 2008) The result is total liquidity composition in Vietnam changed significantly in a positive manner when the ratio of cash in total liquidity continued reducing to 14,6% in the year 2008 (as compared to that of 16,36% and 17,21% in 2007 and 2006 respectively) (SBV, 2008) Soon after joining WTO in the year 2004, many opportunities and threats for Vietnam economic in general and banking industry are brought up for enterprises Vietnam has to change payment transaction behaviors to adapt the inevitable trend in the world Recent years, many new models of business have been appeared such as e-commerce, e-business, thus, IT has to be equipped in banking system to enhance their quality of services in satisfying customer’s expectation Since almost banks offer same services, the application of new technology in bank becomes the determinant factors deciding the success of bank in compete customer’s belief in long term resulted to many kinds of modern banking applications are now applied in Vietnamese bank The State Bank of Vietnam has made efforts in reducing the volume of cash payment transactions by issuing non-cash-transaction project in 2006 throughout 2020 Besides, banks alliances are formed and developed quickly, TradeCard payment forms are more diversified as a standard payment term for international trading Thereby it is time to enhance customer awareness and disseminate the TradeCard payment system in society Page There have been some previous research on e-commerce and e-banking before, but they only focus on developed countries with the advantage in IT technology For example, researches on the adoption internet banking in European, North America, and Finland the leading countries in online banking technology and usage Later other researchers extent in other regions including a mix of developed and developing countries are Singapore (Tan &Teo, 2000), Hong Kong (Chan & Lu, 2004; Ho & Ng, 1994) Despite a few works are done to address the electronics payment (Ho & Ng, 1994; Plouffe, Hulland & Vandenbosch, 2001), however, authors just focus on developed countries with advantage in IT knowledge Therefore, this research will analyze the TradeCard payment in Vietnam, which is known as a developing country Differently, this study focuses on TradeCard payment which is a typical TradeCard payment of e-commerce and e-transactions in a developing country in which IT and e-banking systems are still young 1.2 Research Purpose, Objectives, and Research Questions The main purpose of this study is to identify adoption of TradeCard payment in Vietnam through factors influencing directly to its payment process for a developing country case as well as how the factors influencing the adoption of TradeCard payment in Vietnam The study hopes to bring general knowledge about electronics payment transaction to Vietnamese customers by clarifying which factors are essential and critical for TradeCard payment use Factors influencing the adoption of TradeCard payment may be the foundation of related organizations that can help them can propose programs in order to approach and serve the customers effectively This study aims to examine the factors influencing the adoption of TradeCard payment with the these specific objectives identified as following To identify significant factors that influence customer’s adoption of TradeCard payment The corresponding research question developed was: Q1 What are main factors influencing adoption of TradeCard in Vietnam? To explore how the factors affect customer’s adoption of TradeCard payment in Vietnam The corresponding research question developed was: Q2 How the factors influencing adoption of TradeCard in Vietnam? 1.2.1 Research Structure This research is organized into chapters (ch.1) Introduction is to provide general introduction of the research, (ch.2) Literature review is a brief review of the literature on Page using the system, the more information they get, and therefore they perceive the risk to be less and have more trust in the system The below hypothesis was posited: H4: Information on TradeCard (IEP) has a positive effect on perceived risk (PR) of TradeCard in Vietnam (H4a: Perceived risk in the context of online transaction and H4b: Perceived risk with product/service) 2.3.10 Information on TradeCard payment (IF) and Trade Card payment Use (TPU) In a research of Loonam & O’Lughlin (2006), the survey made to people who used banking services for necessary assessment of information on a new related system, it is found that respondents had less interested of general information once using e-banking services in finding specifics information related The prevailing in general attitude among respondents was that they did not appreciate banking information being pushed on them Additionally, respondents were in difference of financial information during the survey unless it directly related to their specific financial requirements However, in most of previous researches, information on new products or services play a very important role for customers in making decision whether they will buy that product or service or not in manner The amount of information consumers’ learn of products and services has been identified as a major factor impacting the adoption Consumers may be at a nearly stage in learning and processing information about the products and services Thus, helpful product information is vital at this stage to gain awareness and knowledge among consumers in an attempt to develop confidence in using the new services Chen & Macredie (2005) indicated that users with tremendous experiences have significant active behaviors toward electronic payment in reality, so the following hypotheses are proposed: H5: Information on TradeCard (IEP) has a positive effect on TradeCard use (EPU) in Vietnam 2.3.11 Computer Anxiety (CA) on Trade Card payment Use (TPU) Previous researches related to computer anxiety have investigated the effect this trait can have on topics such as perceived ease of use, computer usage, computer self-efficacy and the development or utilization of computing skills These studies typically have found that computer anxiety has a negative relationship on these outcomes; i.e higher levels of computer anxiety leads to lower levels of usage, lower computer self-efficacy, slower Page 14 development of computing skills, and the perception that software is difficult to use In this research a particular focus is placed on the role of an individual’s expectations of success and the influences of these expectations on their approach to computer use in TradeCard use Thus, the following hypotheses are proposed: H6: Computer Anxiety has a positive effect on TradeCard Use in Vietnam 2.4 Research Model As shown in the figure 2-1 below, the conceptual model of this study consists of six constructs: perceived ease of use, perceived usefulness, perceived risk (Including Perceived risk with product/service and Perceived risk in the context of online transaction), and information on TradeCard, TradeCard use, and computer anxiety As well, personal innovativeness in technology is proposed to moderate the relationships of perceived ease of use to TradeCard use, perceived usefulness to TradeCard use, perceived risk to TradeCard use, information on TradeCard to TradeCard use From these fix constructs, there are six hypotheses should be tested H5 Information Perceived Ease of Use H1 Perceived Usefulness H2 Computer Anxiety H6 H4 Perceived Risk with Product/ Service (H4a) TradeCard Payment Use H3a Perceived Risk Perceived Risk in the Context of Online Transaction (H4b) Transaction H3b Figure 2-1 Research Model Page 15 Chapter III Research Design In this chapter, a research framework was developed and based on the above discussion as a basic research foundation The research questions and hypotheses proposed in Chapter II were specified in this chapter which would be studied with the research methods presented after The research procedure was presented at the end of this section 3.1 Research Questions and Associated Hypotheses This section restates the research questions and hypothesis formulated in the previous chapter There are research questions accompanied by associated hypotheses under the following categories of questions: What are factors influencing the use of TradeCard in Vietnam? (Q1) How the factors influence the use of TradeCard in Vietnam? (Q2) To answer this question, the study hypothesizes as follows: H1: Perceived ease of use has a positive effect on TradeCard use H2: Perceived usefulness has a positive impact on TradeCard use H3: Perceived risk has a negative effect on TradeCard use H3a: Perceived risk with products and services has a negative effect on TradeCard use H3b: Perceived risk in the context of online has a negative effect on TradeCard use H4: Information on TradeCard has a positive effect on perceived risk H4a: Perceived risk in the context of online transaction H4b: Perceived risk with product/service H5: Information on TradeCard has a positive effect on TradeCard use H6: Computer anxiety has a positive effect on TradeCard use 3.2 Subjects and Sampling The research was undertaken with two phase of study: a pilot study and a main survey followed The pilot phase was to validate and refine the measures while main survey was used to test its measurement and structural model shown on figure 3.1 research flowchart To avoid a possible confounding effect of demographic parameters and experience, the participants were screened using demographics filters The sample was further balanced Page 16 based on these parameters and the users were divided in groups The sampling model presumed further random assigning of the participants to the groups This was done to avoid the bias of the selection, when participants assigned to the groups are unequal in some characteristics The sample was checked for a possible imbalance of the demographics factors between the two groups, and no significant covariant variables were discovered The population of this study was the TradeCard users from Ha Noi and Ho Chi Minh - the two biggest cities in Vietnam with the access of any electronics transaction The number of respondents chosen for this study was from TradeCard users basing on the rate of TradeCard users in each city provided The respondents were chosen randomly by using the snowball sampling method which each respondent was asked to identify one or more suitable individuals Respondents were senior executives in the sampled firms but further interviews conducted to specific information for TradeCard usage levels from users most likely to have access to it frequently 3.3 Instrument design There were 35 items developed in the questionnaire which is presented in Appendix A The sub-heading variable names in Part II of Appendix A would not be shown in a formal questionnaire Table 3.1 shows the construct of the questionnaire and their supporting literatures Construct Indicators Items (From the reference sources) It is easy to become skillful at using the TradeCard A Perceived Ease of Use • Easy to become skillful • Controllable Park, (2007); Pikkarainen (2004); Kraft P et al (2005) • Easy to learn • Flexible • Clear &Understandable • Easy to use I find TradeCard payment easy to what I want to It is easy for me to learn how to use the TradeCard payment I find TradeCard payment to be flexible to interact with My interaction with TradeCard payment is clear and understandable Overall, I find TradeCard payment easy to use B Perceived Usefulness • PU Performance Using TradeCard payment improve performance of utilizing banking service Page 17 • PU Effectiveness Pikkarainen (2004); Park, (2007); Kraft P et al (2005) • PU Quickness • PU Productivity Using TradeCard payment enhances effectiveness of utilizing banking service Using TradeCard payment services enables to utilize banking service more quickly 10 Using TradeCard payment for banking service increase productivity Perceived Risk Park, J., Lee, D., Ahn, J (2004) C Product/service (PRP) • Functional loss • Time loss • Opportunity loss • Financial loss D Context of online transaction (PRT) • Security • Security (authentication) • Privacy • Non-repudiation E Information on TradeCard payment (Novak et al 2000; Pikkarainen (2004) F Computer Anxiety (Brown, 2002; Amount of Information 11 Not the same as the introduced and advertised functions 12 Waste time using TradeCard payment in transactions 13 It may lose the opportunity to use other payment services that have the same quality with lower cost 14 Users may have to pay other fees when using TradeCard payment 15 It may have problems on transmission line so TradeCard payment trade is failed to complete 16 Payment information is not secured (account name, password, payment money…) 17 Payment information (account name, password…) may be used by other users 18 The suppliers may say that they still haven’t got money by TradeCard payment 19 I have a generally received enough information about TradeCard payment 20 I have received enough information about the benefits of using the TradeCard payment services 21 I have received information about using TradeCard payment service from a bank, a phone bank, the internet, a friend, an advertisement and another source • Cognitive 22 I am confident that I can learn • Emotional Page 18 Venkatesh 2000) computer skills 23 Computers not scare me at all 24 Using Computers makes me feel easy 25 Working with a computer makes does not make me feel nervous 26 Computers make me feel comfortable G TradeCard payment use Pikkarainen (2004) Feelings toward a particular behavior (Performing behavior) 27- I feel using TradeCard payment is a wise idea 28- I feel using TradeCard payment is a good idea 29- I like to use TradeCard payment Table 3-1 Measure of research variables for designing questionnaire The 35-item self-administered questionnaire is constructed with two parts of questions Part 1, Administrative and Classification questions (Question 1-6): The aim of this part is to gather general data from the responses It includes multiple choice questions concerning Part 2, Target questions (Question 7-35): The questions are developed based on the literature review, displayed under the forms of affirmative statements, and categorized in ten groups: ▪ Group 1, questions, Q7 – Q12, refer to the Perceived Ease of Use, ▪ Group 2, questions, Q13 – Q16, refer to the Perceived Usefulness, ▪ Group 3, questions, Q17 – Q24, refer to Perceived Risk (including Perceived Risk with Product/Service and Perceived Risk in the Context of Online Transaction), ▪ Group 4, questions, Q25 – Q27, refer to Information on TradeCard payment ▪ Group 5, questions, Q28 – Q32, refer to Computer Anxiety ▪ Group 6, questions, Q33 – Q35, refer to TradeCard Payment Use 3.4 Expert Validity From literatures, the questionnaire was first developed Next, it was primarily judged and validated by the two experts (one in TradeCard office located in HongKong and one Vietnamese who all were experienced in both research, employing and managing TradeCard payment over years) on the items of the self-administered questionnaire in suitability A small Page 19 number of changes were done followed these judging and validating Later, the questionnaires were delivered to the participants 3.5 Pilot Test and Face Validity After expert validity, the modified questionnaire was continuously passed to the forty users for secondarily judged and validated on the items of the self-administered questionnaire The requirement of judging and validating were: reading/reviewing the instructions and questions; answering the questions and providing your answers; correcting or commenting directly in the nearby space of this instrument, not only the wording, grammar, etc., but also wherever there is inappropriate; and providing any relevant comments (if yes) The result of pilot test is shown on appendix B 3.6 Quantitative Research Firstly, like many other research, the research was began with the determination of the actual situation The actual situation determined in this research comes from the problems are performing of TradeCard payment in the two biggest cities in Vietnam and then, the research purpose was identified The next step is to determine research purpose After that, the literature review was done and focused on the definition of the factors effects on the users’ acceptance of TradeCard and using TAM models in the research in order to theoretical foundation for the research The research frame was designed after that with the research approach: e-mail survey Next, the questionnaires for mail survey will be developed based on literature reviews with consultancy from several experienced academic research experts and experienced businessmen Then, the Pre-survey step is conducted for questionnaires to evaluate measurement on validity and reliability perspectives Later, quantitative data was collected from mail survey with self-administrative questionnaires Finally, conclusions and suggestions were made marking the end of the research process The research started from April of 2013 with the beginning step by identifying research dilemma and research objectives The developed questionnaires, after being reviewed and refined following pilot test and expert consultancy, were delivered to respondents in both Ho Chi Minh City and Ha Noi city at the beginning of June in 2013 and collected after month Collected data were being analyzed in October 2013; results of analyses were interpreted into Page 20 text in the same month of October 2013 Finally, the research procedure was ended by the end of November by completing writing reports Page 21 Define actual situation of TradeCard payment in VN Define research purpose concerning to Vietnam Define research objectives Literature review on TradeCard method Design research model and develop hypotheses n = 40 Questionnaire pre-survey Refine questionnaire with consultancies Distribute questionnaire to participants n =145 Collect data Descriptive statistic Validity and Reliability Exploratory Factor Analysis Regression Analysis Data Analysis Conclusion Figure 3-1 Research Flowchart Page 22 3.7 Data Analysis The statistical analysis began at first with descriptive analysis that described some demographic characteristics of the research subjects To examine reliability and validity of investigative questions, Cronbach’s Alpha coefficients were calculated and Exploratory Factor Analysis was conducted respectively to identify factors that affect to adoption of TradeCard payment in Vietnam The higher Cronbach’s Alpha coefficients were (i.e., α > 0.7), the high reliable the variables were The assumption of equal variances was tested by conducting Levene’s test Next, the direct and indirect relations between independent and dependent variables were examined by running Linear Regression and Multiple Regression for all variables at first and then by analyzing Path Analysis on variables which had significant effects on TradeCard payment Use only, relied upon the developed research questions to test the associated hypotheses Conducting Path analysis to get further understanding the indirect and direct effects those variables caused on TradeCard payment Use Finally, the relationship between Personal Innovativeness in IT and Perceived of Use, Perceived Usefulness, Information on TradeCard payment and Perceived Risk in pair was also examined by running Multiple Regression Quantitative Method Data Collection Survey Questionnaire Data Analysis SPSS version 16.0 Result Figure 3-2 The Structure of the Method approach for this Research Page 23 Chapter IV Data Analysis This chapter presents the data analysis performance as well as corresponding results for this study on the gathered data The quantitative data were analyzed by both descriptive and inferential statistics Descriptive statistics summarizes several respondents’ profiles while inferential statistics shows whether relationships exist between variables Users’ comments on the current employment of TradeCard and suggestions for the improvement of using TradeCard payment were not the subject of this chapter and were presented in the finding section of the next chapter 4.1 Data Collection Data collected from users in Ha Noi and Ho Chi Minh cities as mentioned above Data was collected by either online survey or asking questionnaires directly to respondents randomly The demographic variables included at the end of the questionnaire are also considered variables that influence the formulation of relevant perceptions Nearly 69% (145 out of 300) respondents replied the questionnaires with complete answers in demographic and investigative questions Of the responses 77% (58) returned from Ha Noi city’s respondent and 81% (87) from respondents in Ho Chi Minh city Descriptive statistics offering profiles of respondents are presented in Table 3-4 and Table 3-5 Table 4-1 Response rate in Questionnaire Survey City Ha Noi Ho Chi Minh Total Sample size Response rate 200 76 200 108 400 184 Valid response rate 58 76.32% 87 80.56% 145 78.80% Table 4-2 Response rate in Questionnaire Survey among professional groups Manufacturing Retail trade Wholesale trade Other Ha Noi response/sent out 20/50 4/30 30/40 4/30 58 Ho Chi Minh response/sent out 33/50 7/30 37/40 10/30 87 Valid response rate in total response/sent out 53/100 53.00% 11/60 18.33% 67/80 83.75% 14/60 23.33% 145/300 48.33% 4.2 Descriptive Analysis This section includes (i) respondents’ demographics concerning business type, annual revenue, experience in using TradeCard payment, TradeCard payment information sources, Page 24 TradeCard payment methods and frequencies in using TradeCard payment; and (ii) respondents’ comments and suggestions concerning the use of TradeCard payment Tải FULL (73 trang): https://bit.ly/3Spyquw Dự phòng: fb.com/TaiHo123doc.net Table 4-3 shows the summary of demographic statistics of the research respondents on 4.2.1 Respondents’ Demographics frequency and percentage resulted from the descriptive analysis Table 4-3 Demographic Statistics with Frequency and Percentage Ha Noi Count Business type Manufacturing Count % 37.9% 53 36.6% 6.9% 8.0% 11 7.6% 30 51.7% 37 42.5% 67 46.2% Others 6.9% 10 11.5% 14 9.7% Total 58 100.0% 87 100.0% 145 100.0% Account payable or receivable 38 65.5% 59 67.8% 97 66.9% Logistics 10.3% 12 13.8% 18 12.4% Finance 11 19.0% 13 14.9% 24 16.6% 5.2% 3.4% 4.1% 58 100.0% 87 100.0% 145 100.0% < US$ million 8.6% 4.6% 6.2% US$ - $2.5 million 10.3% 6.9% 12 8.3% US$ 2.5 - $4 million 10.3% 6.9% 12 8.3% US$ - $6 million 10 17.2% 14 16.1% 24 16.6% > $6 million 31 53.4% 57 65.5% 88 60.7% Total 58 100.0% 87 100.0% 145 100.0% < year 10.3% 16 18.4% 22 15.2% - year 8.6% 9.2% 13 9.0% - year 29 50.0% 32 36.8% 61 42.1% - year 11 19.0% 15 17.2% 26 17.9% > year 12.1% 16 18.4% 23 15.9% Total 58 100.0% 87 100.0% 145 100.0% < transactions 13 22.4% 17 19.5% 30 20.7% - transactions 3.4% 10.3% 11 7.6% 17 29.3% 23 26.4% 40 27.6% Total Frequency % 33 Senior Management Experience Count 34.5% Wholesale trade Annual revenue % Total 20 Retail trade Profession Ho Chi Minh 10 - 20 transactions Page 25 Sources 20 - 30 transactions 14 24.1% 20 23.0% 34 23.4% > 30 transactions 12 20.7% 18 20.7% 30 20.7% Total 58 100.0% 87 100.0% 145 100.0% From business partners 41 70.7% 62 71.3% 103 71.0% From the mass media 5.2% 5.7% 5.5% From the conference 13.8% 16 18.4% 24 16.6% From the bank 10.3% 4.6% 10 6.9% 58 100.0% 87 100.0% 145 100.0% Total The attributes of respondents consist of nine major control variables including (1) business type, (2) profession, (3) annual revenue, (4) experience, (5) frequency (6) know about Tải FULL (73 trang): https://bit.ly/3Spyquw TradeCard payment from as Table 4-3 Dự phòng: fb.com/TaiHo123doc.net The table shows that the rates of business type respondents are different between Ha Noi and Ho Chi Minh Most of respondents are wholesale trade and manufacturing industry in Ho Chi Minh (37.9% and 42.5%) compared with 35.5% and 51.7% in Ha Noi More than sixty percent respondents have annual revenue more than US$6 million, while only 6.2% who is less than US$ million The rate with the annual revenue from US$1 to $2.5 and from $2.5 to $4 million is equally accounting 8.3%, while the rest of US$4 - $6 million is 16.6% Although TradeCard payment as applied and used in Vietnam for more than eight years, just only 15.9% of respondents have more than years experiences in using TradeCard payment while most of them are using form 3-5 years and 15.2% of users with less than experiences year According to statistics of Table 4.1, most of TradeCard payment users and the others know about TradeCard payment and its services through business partners and the conference (71% and 16.6%, respectively) Among respondents said about the TradeCard payment frequency, it’s accounting for 27.6% to which using 10-20 transaction monthly while the least 7.6% using from – transactions monthly and 20.7% accounted for more than 30 transactions in a month 4.2.2 Descriptive Statistics The results of the descriptive statistic which evaluate and present the questionnaire variables of the respondents are shown in Table 4-4 The framework has 29 items, including items of Perceived Ease of Use, items of Perceived Usefulness, items of Perceived risk with product/service, items of Perceived risk in the context of online transaction, items of Page 26 Information on TradeCard payment, items of Computer Anxiety and items of TradeCard payment Use The results of means and standard deviation, as shown in the Table 4-4, reflect that, for the construct of Perceived Ease of Use, respondents tend to perceive a high degree of emphasis on the positive side of the research items with mean score higher than 3.00 in a five point Likert scales except for PEU1 and PEU2 Moreover, for the construct of Perceived Usefulness and Information on TradeCard payment Use, respondents also give positive evaluations with all means over 3.0 The results show that the respondents have positive evaluation about the ease-of-use features, information and TradeCard payment and perceive TradeCard payment is useful for their work performance and shorten the time of payment transactions However, the perception of customers evaluated on Perceived risk with product/service, Perceived risk in the context of online transaction, seem lower For the construct Perceived Risk, the results show that all items are mostly at the mean exception of PRT1 less than its group mean Besides, the results of construct Information on TradeCard payment suggest that respondents tend to positive perception in term of information involved in TradeCard system with most of mean values over 2.5 These results indicates that even users feel that TradeCard payment system is ease of use and usefulness for their work, but they still take risk in consideration and still not much self-confident about the information and knowledge about the TradeCard payment which they have In term of standard deviation (S.D), most of S.D values are accepted The results show that, these items are very good because the difference among results are not much high Table 4-4 Demographic Statistics with Frequency and Percentage Item PEU1 PEU2 PEU3 PEU4 PEU5 PEU6 Description Perceived Ease of Use It is easy to become skillful at using the TradeCard I find TradeCard payment easy to what I want to It is easy for me to learn how to use the TradeCard payment I find TradeCard payment to be flexible to interact with My interaction with TradeCard payment is clear and understandable Overall, I find TradeCard payment easy to use Mean SD 2.72 2.65 3.16 3.62 1.185 1.218 1.327 1.228 3.61 1.153 3.26 1.249 Perceived Usefulness PU1 Using TradeCard payment improve performance of utilizing banking service 3.41 1.184 PU2 Using TradeCard payment enhances effectiveness of utilizing banking service 2.67 1.181 Page 27 PU3 PU4 Using TradeCard payment services enables to utilize banking service more quickly 10 Using TradeCard payment for banking service increase productivity 2.84 1.121 3.00 1.237 3.68 3.58 0.877 0.837 3.60 0.784 3.61 0.858 Perceived risk with product/service PRP1 PRP2 PRP3 PRP4 11 Not the same as the introduced and advertised functions 12 Waste time using TradeCard payment in transactions 13 It may lose the opportunity to use other payment services that have the same quality with lower cost 14 Users may have to pay other fees when using TradeCard payment Perceived risk in the context of online transaction PRT1 15 It may have problems on transmission line so TradeCard payment trade is failed to complete 2.46 1.133 PRT2 16 Payment information is not secured (account name, password, payment money…) 2.62 1.255 PRT3 17 Payment information (account name, password…) may be used by other users 2.62 1.271 PRT4 18 The suppliers may say that they still haven’t got money by TradeCard payment 2.56 1.276 Information on TradeCard payment IF1 19 I have a generally received enough information about TradeCard payment 2.53 0.848 IF2 20 I have received enough information about the benefits of using the TradeCard payment services 2.58 1.225 IF3 21 I have received information about using TradeCard payment service from a bank, a phone bank, the internet, a friend, an advertisement and another source 2.64 0.916 3.59 3.74 3.88 3.75 3.60 1.131 1.157 1.105 1.111 1.136 3.12 2.73 2.91 1.251 1.331 1.156 CA1 CA2 CA3 CA4 CA5 Computer Anxiety 22 I am confident that I can learn computer skills 23 Computers not scare me at all 24 Using Computers makes me feel easy 25 Working with a computer makes does not make me feel nervous 26 Computers make me feel comfortable TradeCard payment Use TPU1 TPU2 TPU3 27 I feel using TradeCard payment is a wise idea 28 I feel using TradeCard payment is a good idea 29 I like to use TradeCard payment Page 28 6671651 ... on the adoption internet banking in European, North America, and Finland the leading countries in online banking technology and usage Later other researchers extent in other regions including... effectiveness of monetary policy TradeCard payment is a subset of structure of the the overall payment system There are several definitions about e -payment in which TradeCard payment is defined as payments... that influence customer’s adoption of TradeCard payment The corresponding research question developed was: Q1 What are main factors influencing adoption of TradeCard in Vietnam? To explore how the