MINISTRYOFEDUCATION ANDTRAINING THESTATE BANKOFVIETNAM BANKINGUNIVERSITY OFHO CHI MINHCITY NGUYENTRANMY DUYEN THE IMPACT OF PERCEIVED RISKS ANDPERCEIVED BENEFITS ON THE INTENTIONTO REUSEMOMOE WALLET O[.]
ResearchStatement
E-wallet is one of the most popular forms of online payment today In 2021,Vietnam is in the top three countries with the percentage of users paying via mobilein Asia with 29.1% As of the end of the first quarter of 2020, Vietnam has morethan 13 million e-wallet accounts activated and used, the total wallet balance isabout 1.36 trillion VND and there are more than 225 million transactions made (TheStateBankofVietnam,2020).
Using cash used to be the most popular payment method with Vietnameseusers, but since the pandemic started, it has been on a declining trend. According tosurvey results from Visa, the context of the Covid-19 pandemic has made e-walletsgrow stronger 57% of users have up to 3 e-wallet applications on mobile platforms,55%ofconsumerspreferappsthatcanmakealltransactions.
AccordingtoastatisticalreportfromtheStateBankofVietnam,theVietnamese market has about 48 e-wallets and non-bank payment intermediariesofficiallylicensedtooperate.Thisnumberhasincreased
Momo is one of the most attractive e-wallets in Vietnam with more than31million existing customers According to Appota's Mobile Applications 2021 report,compared to other e- wallets, MoMo is the e-wallet with the highest percentage ofregularusers(61%).MoMo'ssuccessisduetobringingaseriesofofflineservice s online.Withonlyoneapplication,almostallneedsaremet,makinglifesimplerandeasier,es peciallyin thecurrent complicatedepidemicsituation.
It can be seen that transactions with e-wallets are very quick and convenient,but there are also many potential risks from technology criminals Over the past fewyears,alotofsecurityburglariesstolepropertyfromthemobilepaymentapplications that appeared, especially whenthe client lost hisp h o n e o r a h a c k e r stoletheaccesscodetoMoMo.Fromtheexistenceofsocietyhasaffectedpsych ology, reducing customers' trust in the intention to reuse the service Buildingtrust from consumers is extremely important and necessary Therefore, this is areasonto studytherisk perceptionofcustomerswhenusingMoMoe-wallet.
Although there are still a few negative points that inhibit thei n t e n t i o n t o reuse the Momo application But there is no denying the convenience brought byMomo, which motivates customers to act and carry out their behavior The recordgrowth of registered accounts after many years proves the importance of the MoMoe- wallettoconsumers.People'slivesareincreasinglybusy,alongwiththedevelopmentofso ciety.Fromhere,customerswillprioritizeusingconvenientproducts or services, both reducing costs and saving time If the perceived benefitoutweighs the perceived risk, then the intention to reuse and perform the behaviorwill reach a higher level.
It is for this reason that perceived benefit research cannotbe ignored In order for customers to know and use the MoMo e-wallet applicationmore and more widely, M_Service company needs to have a database of consumers'perceptionsofrisksandbenefitswhenusingit,fromwhichovercomet h e i r conc erns,retain anddevelop the app further.
Around the world, some previous studies have shown that perceived risk andperceivedbenefithaveaninfluenceontheacceptanceofmobilepaymentsbyPutritama (2019); Sentanu et al (2020); Shafi & Misman (2021) At the same time,the study of risks and benefits in mobilep a y m e n t s i s a r e s e a r c h d i r e c t i o n t h a t attractsmanyscholars,butinVietnam,therearecurrentlyveryfewstudiesta lking abouttheimpactofperceivedriskandperceivedbenefittotheintentiontoreusee- wallets.
In view of the development trend of e-wallets in the world and the currentsituation of Momo e-wallet payment in Vietnam, the author has chosen the topic ofgraduation thesis withthe title: " The impact of perceivedrisks and perceivedbenefits on the intention to reuse Momo e-wallet of Gen Z” to explore what makesusers still intend to reuse Momo e-wallet despite being aware of the potential riskssurroundingthisapplication.
ResearchObjectivesandQuestions
ResearchObjectives
The overall objectiveof the study is to determinet h e i m p a c t o f p e r c e i v e d risk and perceived benefit on the intention to reuse Momo e-wallet of Gen Z in HoChiMinhCity.
The first is to identify the impact of perceived benefits and perceived risks ontheintentionto reuseMoMoe-walletofGen ZinHoChiMinhCity.
Thesecondistomeasurethelevelofimpactofperceivedbenefits andperceived risks on the intention to reuse MoMo e-wallet of Gen Z in Ho Chi MinhCity.
The third is to propose implications to increase benefits, reduce risks,andincreaseGenZ'sintentiontoreuseMomoe-wallet.
ResearchQuestions
Do perceived risks and perceived benefits affect the intention to reuse MoMoe-wallet?
How are the impacts of each perceived risk and perceived benefit factor ontheintentionto reuseMomoe-wallet?
ResearchSubjectsandScope
Theresearchfocuses ontheimpactofperceivedriskandperceivedbe nefit on the intention to reuse Momo e-wallet investigated among the generation Z underthe age of 27 living in Ho Chi Minh City has been intending to reuse Momo e-wallet.
ResearchMethodology
Quantitative research method: Conduct a survey to collect information on theimpact of perceived risk and perceived benefit on Gen Z's intention to reuse Momoe- walletinHoChiMinhCity.Aftercollectinginformation,thedatawillb e analyzedthroug hSPSS22 andAMOSsoftwarewithspecificstepsincluding:
ResearchSignificance
Understanding of impacts of perceived risks and behaviors remains limited.Measuringtheimpactofperceivedriskandperceivedbenefitfactorsont h e inten tion to reuse Momo e-wallet helps Momo have a better insight into GenZ'sintention to reuse an e-wallet Producing solutions to promote the intention to reuseMomo e-wallet in Gen Z Thereby, helping Momo effectively improve the intentionto reuse the existing services to attract the attention and satisfaction of users toconvincethem to use their e- walletappmore.
Thesisstructure
Includingthecover,thedeclaration,theacknowledgement,thetableofcontents, the listofacronyms, the listoffigures, thelist oftables, the listofreferences, and the appendices, the content This thesis is divided into five chapters,particularlyasfollows:
Chapter 1 discussed the importanceo f t h e r e s e a r c h s u b j e c t , t h e r e s e a r c h goals and tasks, the research difficulties and questions, the research objects andscope of the research, the research methods and data, and the study's contributions.Ascanbeseenfromtheprecedingmaterial,thesubject"THEIMPACTOFP ERCEIVEDR I S K S A N D P E R C E I V E D B E N E F I T S O N T H E I N T E N T I O N
REUSE MOMO E-WALLET" is both scientific and practical This establishes thefoundationforfurtherresearchactivities.Itisanin-depthexaminationofthetheoretical foundations, research methodologies, and data collecting in order togenerateresearchfindingsandprovidesolutions.
Chapter 2 discusses the theoretical underpinnings of intention to reuse an e- wallet This chapter analyses existing research materials on the subject and thenproposesaresearchparadigmforthesubject.
Theoretical Foundations
E-wallet
An e-wallet is described as a person's usage of a mobile phone to performfinancial transactions It is placed between two devices referred to as the sender andrecipienta n d i s u s e d t o b u y t h i n g s o r p a y b i l l s ( H a l e v i , M a , S a x e n a , & X i a n g , 2012) In other terms, an E-wallet is a smartphone application that enables users todo a variety of financial activities through mobile (Quasim, Siddiqui, & Rehman,2012).
Transactions that people engage in on a daily basis, such as purchasing traintickets, as well as the ability to operate as a credit card, have been strengthened andimproved as a result of the development of electronic wallets in recent years (Shin,2009).
Then, according to Normayanti Putri et al (2021) said that an e-wallet is aform of prepaid account in which users may keep money and also use it as a methodofpayment;thise-walletissafeguardedby specificsecurity measuressuchaspasswords.
Accordingto some ofthe definitionsabove, an e-wallet isa product orservice that enables digital money saving through electronic media intermediarieslinkedtotheinternet.Thiselectronicwalletmaybeusedto makepayments.
Thee- walletisnotrestrictedtoonlinetransactions.Theversatilityofemployingane- walletmaybeobservedinitsusetomobilephone-basedpoint-of- salet r a n s a c t i o n s T h i s t r a n s a c t i o n p a r a d i g m e n a b l e s m e r c h a n t s a n d c u s t o m e r s t o easilyminimizetheircashonhand,whichisnotoriouslydifficulttohandl e.
According to statistics from the the State Bank of Viet Nam, as of May 9,2022, Vietnam has 48 non-banking organizations and enterprises licensed by theState Bank of Viet Nam to provide e-wallet services Thanks to this, in the contextof increasing e-commerce coverage, the basic needs of consumers have been met.Someofthebenefitsof ane-walletcanbementionedas:
Various forms of money transfer, top-up and payment, saving time with easyoperation.Userscanmakepaymentsforpurchases,payforservicesanytime,anywhe re with just a few simple steps with a step of confirming the transactionpassword;
Help save users' travel time, make payment transactions easy and fast At thesametime,userscanqueryaccountinformationanytime,anywhere,especiallywithoutca rryingcash,toavoidlosingorstealing money;
In addition, payment by e-wallethelpssecure transactions, allowsp a y m e n t ofsmallfees,iseasytouse,popular,andhasawiderangeofuses.
However,besidesthebenefitsthate-walletsbring,therearestillsomebacklogs that need to be overcome when transacting such as: The security systemhas not really made users trust; Users may be charged a fee during use, even thiscostishigherthanthefeeforusingdigitalbankingservicessuchasInternetbanking, mobile banking, etc In addition, users can be stolen personal information,account information, and loss of money when personal computers and phones oftenaccessunreliable websites containing malicious code.
AccordingtoPoliushkevych(2019),themostimportantissueinusingmodern forms of payment in general and e-wallets in particular is the issue of aperfectl ega l framework In mo stc ou nt ri es, the re isn oe ff ect iv em et ho do f regulating the circulation of cryptocurrencies Therefore, in the process of using,therights of users will not be protected when risks and frauds occur This is one of thereasons hindering the development of e-wallets in Vietnam as well as in somecountries around the world.This partly explains why e-wallets in Vietnam are stillnotwidelyuseddespite thesignificantdevelopmentofthee-commercemarket.
GenerationZ
According to Skinner, Sarpong, & White (2018), generation Z is a group ofpeople born between 1995 and 2010 This generation is believed to be the mostconnectedtosocialmedia,sophisticatedtechnology,andhasag r e a t e r understan ding of how to use the internet According to Berkup (2014), generation Zisdistinguishedfromearliergenerationsbytheirobsessionwithtechnology,individuali sm, and a preference for convenience Generation Z views technology asa 'thing' that has been a part of their everyday lives since they were born Numerousstudies have demonstrated that this generation engages in more online transactionsthanpreviousgenerations(Dalimunteetal.,2019;Dewanti&Indrajit,2018).
ReuseIntention
According to Sibona et al (2017), the concept of a user's behavior afterutilizing service in order to determine whether or not they want to utilize the serviceagainisknown as reuse intention.
In other words, according to Yeboah-Asimah et al (2018), the user's resolveto continue using a service and to utilize all of the services that are given by theserviceproviderisanexampleofreuseintention.Inthecontextofm o b i l e payments,
"reuse intention" refers to the degree to which a persona l r e a d y m a k e s use of mobile payments to make purchases of goods or services that have beencreated and intends tod o s o k n o w i n g l y i n t h e f o r e s e e a b l e f u t u r e a s w e l l ( H u m b a n i & Wiese,2019).
Basedontheabovedefinition,reuseintentionmaybedescribedasaconsumer's choice to repurchase or reuse a product or service from a business orbrandrepeatedlyandpromoteittotheirfriendsandfamily.
TheoreticalFramework
TechnologyAcceptanceModel(TAM)
Davis (1989) developed the technology acceptance model on the basis of theTRA,positingthatanindividual'stechnologyusemaybeanticipatedb y behaviourali ntention,whichispredictedjointlybyperceivedusefulnessandperceived ease of use (Figure 2.1) The author defined perceived usefulness as anindividual's belief in the technology's ability to improve performance Davis (1989)defined perceived ease of use as an individual's belief that a specific technologywould be simple to use. Additionally, the model postulated that perceived ease ofuseisapredictorofperceivedusefulness.
Thechoicetoadoptanewtechnologyisperceivedbyitsp e r c e i v e d usefulness and ease of use, whichi s r e g a r d e d t o b e t h e f o u n d a t i o n f o r c a l c u l a t i n g theTAM(Davisetal.,1989).Mobile- basedpaymentsystemsarec o m m o n l y utilized for transactions, and customers prefer this way of payment (Gokilavani etal.,2018).Asaresult,perceivedusefulnessis relatedtobehavioralintentions.AccordingtoShaw(2014)believesthatperceivedusefulness hasasubstantialimpact on the desire to use an e-wallet The data demonstrate how the system'spromise to produce the intended outcomes motivates users to utilize it In terms ofmobile payments, respondents indicated that they can complete transactions swiftlysincetheirsmartphonesarereadilyaccessible.Numerousresearchhavebeencond ucted using perceived usefulness as a variable, and the majority of data showthat perceived usefulness has a beneficial effect on technological adoption. Thisimpliesthatperceivedusefulnessiscriticalininfluencingtechnologicalacceptabilit y,w h i c h w i l l r e s u l t i n i m p r o v e d r e s u l t s f o r f u t u r e i n v e s t i g a t i o n s A s such,itiscriticalforthisresearchtoanalyzethee-walletcontext'sperceivedusefulness.
One of the aspects evaluated when deciding whether to use an e-wallet is theeasewithwhichconsumersinteractwiththee-wallet.Thisisreferredtoa s perceived ease of use in the theory of acceptance model Those done using e-wallethave demonstrated to be more convenient and quicker than payments made viatraditional banking systems, since they save both time and money (Blockchains,2018) The phrase perceived ease of use refers to "the degree to which a givensystem is easy to use" (Davis et al., 1989) Perceived ease of use has a favorable andsubstantial effect on behavioral intention to utilize technology (Lee et al., 2017;Agrebi&Jallais,2015).AccordingtoIndarsinandAli(2017)discoveredafavorable and substantial relationship between perceived ease of use and behavioralintention to continue using Similarly, perceived ease of use predicts behavioralintentions to utilize information systems (Perkasa & Rustam, 2016) According toRaza's et al.
(2017) research, perceived ease of use has a positive and significantinfluence on perceived usefulness and perceived ease of use has a positive andsubstantial effect on behavioral intentions to use a certain system According to Al-Maroofand Al- Emran(2018) performed study with students whob e l i e v e d t h a t using web service technology was simple and user-friendly, resulting in a favorableinfluence on perceived usefulness and behavioral intentions In general, numerousscholarsthroughouttheglobeuseTAMModelextensively(Davisetal., 1989;Aliet al., 2021; Krisnawati et al., 2021) Because TAM is easily applicable to manytechnologies.Therefore,E- Walletasasortofcutting-edgetechnologyisalsoamenabletoTAMforexamining aspectsimpactingthedesiretouseE-
Wallet(KumarS,Sivashanmugam,&Venkataraman,2017).Inthisstudy,TAMserve sasa beginning point for the research, which is then extended with other variables thatarecrucial to the behavioralintentiontoutilizeE-Walletpaymentservices.
TheRisk-BenefitFramework
Perceived risk is defined as a consumer's behavior in relation to risk in such amannert h a t a n y b e h a v i o r m a y r e s u l t i n u n p r e d i c t a b l e s e q u e n c e s , s o m e o f w h i c h may be unpleasant Consumers often lack the perception that they can consider theimplicationsoftheirconduct,andthey seldom foreseesucheffectswithgreataccuracy(Bauer,1960).Perceivedriskisahighlycomplexc onceptthatencompasses several dimensions such as financial, social, psychological, physical,andperformance (Kaplan, Szybillo &Jacoby,1974).
Theterm"perceivedrisk"referstotheactofcontemplatingp r o b a b l e negative outcomesorrepercussionsofusingacertainservice(Featherman&Pavlou, 2003) In other words, according to Gupta & Kim (2010), perceived risk isdefined as the user's assessment of the degree of uncertainty and bad repercussionsassociated with amerchant's transaction.
When it comes to utilizing e-wallets, perceived risk is a significant elementaffecting one's decision to adopt this new technology The majority of consumersplacea h i g h e r p r e m i u m o n w a l l e t s t h a n o n m o b i l e p h o n e s H o w e v e r , i f t h e u s e r loses thephone, there would be a significant effect Additionally, riskmay becharacterizedasthelossofstoreddata,creditcardfraud,orsuspicionoftheusage ofnewtechnology(Gefenetal.,2003;TeoandYeong,2003).
Perceived risk is described as anxiety about the security of mobile paymenttransactions (Zhao et al., 2019) According to Bailey et al (2017), perceived risk isconnectedtocustomers'perceptionsofthenegativeconsequencesofnewtechnology usage The term "perceived risk" refers to the perceived disadvantagethat consumers would experience if their personal data is leaked and financial losshappens (Shao et al., 2019) Ryu (2018) remarked that although using fintech isalways linked with a high degree of risk and uncertainty, it also offers the advantageofsimplifyingconsumerinteractionsincomparisontoconventionalfinancials ervices.
According to Wu and Wang (2005), a research done in Taiwan discoveredthatperceivedriskhasamajorintentiononbehaviouralintentionsformobileco mmerce adoption The results indicated that when customers perceive a risk, theybecome more conscious, since they have a strong grasp of and experience withmobile commerce Even if consumers wish to conduct an online transaction, theycanavoidthehighriskassociatedwithmobilecommerce.Additionally,t h e positive sofmobilecommerceincludecompetitivepricing,adiverseproductoffering, convenience,a n d t i m e s a v i n g s , w h i c h m i g h t e n t i c e c u s t o m e r s t o e x e c u t e anonline transactiondespite their perceptionofmultiplerisks.
In addition, Featherman et al (2003) studiedand pointed out sevena s p e c t s of risk perception including: financial risk, privacy risk, efficiency risk, timing risk,psychologicalr i s k , s o c i a l r i s k , a n d g e n e r a l r i s k s a f f e c t t h e i n t e n t i o n t o a c c e p t t h e useofe- services Similarly, Lim(2003)alsoproposed threesources ofperceived risk, including technology, suppliers, and products in e-commerce Insufficient orunreliable security technologies will increase users' risk perception, lead to lowersatisfaction and reduce intention to continue using in the e-commerce context (Tanet al al., 2010) Similarly, the results of the study by Yang et al (2015) also pointedoutthreeaspectsofperceivedriskaffectingtheintentiontoacceptm o b i l e paym ents:financialrisk,efficiencyrisk,andprivacyrisk.
In this study, risk perception refers to possible losses, negative outcomes dueto user uncertainty when using Momo e-wallet The author uses four dimensions ofrisk perception to measure the impact on Gen Z's intention to reuse: financial risk,securityrisk,time-lossrisk,operationalrisk.
According to Al-Debei et al (2015), perceived benefit may be defined as arelative advantage that indicates the degree to which people perceive innovation tobring higher benefits When customers choose to utilize a mobile payment service,they examine a variety of factors in order to reduce their negative utility whilemaximizing their positive value (De Kerviler et al., 2016) According to Park et al.(2019), perceived benefit relates to the system's convenience and quickness, as wellas its user-friendly payment procedure The utility of mobile payment refers to thedegree to which customers perceive that using mobile payment will provide themwith benefits (e.g., convenience, simplicity of transaction) in comparison to otherpayment methods(Baileyetal.,2017).
The term "perceived benefit" relates to customers' opinion that the technicalsystem they are using may improve performance while also increasing efficiency, aswellastheirbeliefthatthetechnologytheyareutilizinggivesadvantages(Farahdiba,201 9).
Perceived benefit is perceived as a user's notion that whenhe utilizes atechnological product,hewould have abenefit in performance(Normayanti Putriet al., 2021) In other words, perceived benefit refers to consumers' assumption thatusing a technological product would result in advantages and increase their jobperformance The term "perceived benefit" refers to a person's belief that a technicaldevicemaymakehisjobsimpler(Rodiah,2020).
Accordingtopriorresearch,theperceivedbenefitofutilizingonlineapplications increases user intention to reuse various IT-based applications (Benlianand Hess, 2011; Lee, 2009; Lee et al., 2013b; Farivar and Yuan, 2014; Ryu, 2018).According to Liu et al (2012), perceived benefits may have a considerable impacton mobilepaymentuse.
As a result of the above definitions, we may deduce that perceived benefitscan affect an individual's decision to utilize a technological product If someonebelieves and believes that the technological product being used has a purpose orbenefit, the amount of usage will grow On the other hand, if someone feels atechnological product does not provide any benefits, their level of usage will beminimal.
According to Byun and Feinberg (2007) has researched and pointed out fiveaspects of perceived benefits including: perception of time-saving; awareness ofproblemsandproductstobeabletouseproductsandservices;perceptionofconvenient time; perception of increased security and perceived enjoyment. AnotherstudybyChoi,Lee,&Ok(2013)suggestedthatperceivedbenefitsinclude:perceive dbenefitsoffunction;perceivedbenefitsofconvenience.
In this study, the author uses three aspects ofperceived benefit tom e a s u r e the impact on the intention to reuse the Momo e-wallet including: perception ofconvenience,perceptionofseamlesstransactions,andperceptionofeconomicbenefits.
According to the above, this study hypothesizes that users' perceived benefitand risk play a crucial influence in determining their propensity to useMomo e-wallet.
Previousresearch
Jaehyeon Jun, Insu Cho and Heejun Park (2018) conducted a study
“Factorsinfluencingcontinueduseofmobileeasypaymentservice:anempiricalinvestiga tion” Using a structural equation model and 182 respondents, this studyexperimentally evaluates the research model All factors on the benefit side had aneffect on the perceived value of the users, and the perceived value had an effect ontheir intention to continue using However, none of the sacrifice-related factors hadany effect This research stated that since customers tend to focus primarily on theanticipatedbenefitsofthemobileeasypaymentserviceandnotitspossibledrawbacks, managers should concentrate on how to provide consumers additionalbenefits.
Afrida Putritama (2019) based on the research model of Theory of ReasonedAction (TRA) which introduced by Fishbein and Ajzen (1975) to cunduct the study“The Mobile Payment Fintech Continuance Usage Intention in Indonesia” withresearch data of 113 Indonesian participants in two main factors (perceived risk andperceived benefit) The purpose of this study was to ascertain both positive andnegative aspects affecting the intention to continue usingmobile payment FinTechin Indonesia This study used an exploratory sequential mixed methods approach,beginning with a questionnaire and concluding with semi-structured interviews Thestudy showed that both perceived benefit and perceived risk had a substantial effecton the intention to continue using mobile payment FinTech in Indonesia, althoughthe perceived benefit had a greater impact than the perceived risk Convenience hadthemostfavorableeffectonperceivedbenefit, whichresultedinacontin uanceinthei n t e n t i o n t o c o n t i n u e u s i n g m o b i l e p a y m e n t F i n T e c h F i n a n c i a l r i s k h a d t h e biggesteffecton perceivedrisk, whichin turnaffectsthe intentiontocontinueusingmobilepaymentFinTech.
NormaDianaandFarahMargarethaLeon(2020)conductedthestudy“Factors Affecting Continuance Intention of Fintech Payment among Millennials inJakarta”. This study is motivated by the phenomenon of millennials who desire toconverttheirfinancialbehaviorfromcash-basedtransactionstocashlesstransactions. The implications of millennials' perceived benefits (economic benefits,seamlesstransactions,andconvenience)andrisks(financialrisks,legalrisks,securi ty risks, and operational risks) on their intention to continue using financialtechnology(FinTech)paymentareinvestigated.Therearetwocategorieso f Fin Techu s e r s : e a r l y a d o p t e r s a n d l a t e a d o p t e r s S t r u c t u r a l E q u a t i o n M o d e l i n g -
PartialLeastSquarewasusedastheapproach.Thedatawasacquiredby thedistribution of questionnaires to 313 respondents The findings of this study indicatethat convenience is the most relevant benefit element in terms of FinTech paymentcontinuanceintention.Onlyoperationalriskshaveanegligibleimpactonthecontin uance intention of FinTech payment There are disparities in the impact ofbenefits and risks for both categories of users The implication of this study is tobetter comprehend the aspects that influence millennials' choice to utilize FinTechpaymentservices.
Widya Sentanu, Stefan A.N Sagala, Dodi Marjuki and Willy Gunadi (2020)basedonValenceTheoryandTheoryofReasonedAction(TRA)previouslyresear ched by Ryu (2018) to conducted the study “Analysis of the Effects of Benefitand Risk Factors on the use of E-Wallet” By identifying the limits of the Benefit-Risk Framework, this research was able to reconstruct the risk and benefit elementsthat influenced the users' intention to continue PLS-SEM analysis was used toobtain data from 203 respondents who completed online surveys The study's resultsindicate that convenience has the most favorable influence on users' intention tocontinueusingthecontinuance.Additionally,financialriskistheprimaryworryo f consumers.H o w e v e r , t h i s d o e s n o t p r e c l u d e t h e m f r o m c o n t i n u i n g t o u s e t h e e - walletservice.
Nguyen Hoang Minh, Hua Le Thien Bao, and Le Thi Thuy Vi (2020) basedon TRA model of Fishbein and Ajzen and TAM model of Davis, conducted thestudy “Perceiving benefit-risk and Fintech users’ continuance intention in Ho ChiMinh City” This study aims to assess the benefit-risk perception and intention tocontinue using Fintech of users in Ho Chi Minh City The data in the study wascollected from 472 Fintech users under the age of 40 The data were processed byAMOSstatisticalsoftware,scaletestedbyCronbach'sAlphac o e f f i c i e n t , explo ratory factor analysis (EFA), and Structural Equation Modeling (SEM). Theanalysis results show that the perceived benefits of Fintech users are explained byeconomic benefits and convenience, and the perceived risks of Fintech users areexplained by financial risks and security risks Besides, users' intention to continueusing Fintech is positively affected by perceived benefits and negatively affected byperceived risks Research results also show that there is a difference between userswho are not proficient and proficient in Fintech applications, specifically: (1) Forusers who are not proficient in Fintech applications, perceived benefits Benefits areinfluencedbyeconomicbenefitsandconvenience,andFintech'sintentiontocontinue using financial services is positively affected by perceived benefits and notaffectedbyperceivedrisks.Inwhich,riskperceptionisaffectedbyfinancialr isk;
(2) For users who are proficient in Fintech applications, perceived benefits areinfluenced by economic benefits and convenience, and perceived benefits have apositiveimpactonintentiontocontinueusingFintechfinancialservices,butperceived risk has a negative impact on the intention to continue using Fintechfinancialservices,andisaffectedbyfinancial andsecurityrisks.
Nguyen Vinh Khuong, Nguyen Thi ThanhP h u o n g , N g u y e n
T h a n h L i e m , Cao Thi Mien Thuy, and Tran Hung Son (2022) with the study
AffectingtheIntentiontoUseFinancialTechnologyamongVietnameseYout h:Researchin the Time of COVID-19 and Beyond” In the context of the COVID-19 epidemic,thisresearchseekstocomprehendtheaspectsthatinfluencethecontinuanceinte ntion of young Vietnamese to use financial technology In this study, the authorhasexaminedthePerceived Benefit, PerceivedRisk,Belief,andSoci alInfluence,as well as the TAM and TRA models, which might influence the user's intention.Thestudysampleconsistsof161consumersofgenerationZwhoarehighlyadaptabl e and knowledgeable about the usage of Fintech To assess the researchmodel,thisauthorusesthePLS-
SEManalyticapproachusingtheSmartPLSsoftware.ThePerceivedBenefithasthegreate stinfluenceonthecontinuanceintentiontoutilizeFintech,followedbyBelief.However,in general,thedeterminantsa r e n o t s u b s t a n t i a l , m a y b e o w i n g t o s e v e r a l V i e t n a m - s p e c i f i c characteristics.Serviceproviders,governments,andresearchersmaycalibratedev elopmentandresearchforsubsequentphasesbasedonthisoutcome.Thisresearch provides results that vary from those of earlier studies, primarily expandingtheresearchscopeaboutyoungpeople.
The authorof the study Thesubject of research Factors
- PerceivedRisk(FinancialRisk,Leg al Risk, SecurityRisk)
NormaD i a n a a n d FactorsAffectingContinuan ce - Perceived Benefit (Economic
- PerceivedRisk(FinancialRisk,Leg alRisk,SecurityRisk,Operational Risk)
AnalysisoftheEffectsofBenefit andRiskFactorso n theuse of E-Wallet
- PerceivedRisk(FinancialRisk,Leg alRisk,SecurityRisk,Performance Risk,TimeRisk,PsychologicalRisk,Ope rationalRisk,SocialRisk)
HuaL e Thien Bao, and LeThiThuyVi
Perceivingbenefit- riskandFintechusers’continuancei ntentioninHoChi MinhCity
- PerceivedRisk(FinancialRisk,Sec urityRisk,OperationalRisk)
Phuong,NguyenThan hLiem,CaoT h i Mie nThuy,andTran
Factors Affecting the IntentiontoUseFinancialTechno logyamongVietnameseYouth:Re searchintheTimeofCOVID- 19and Beyond
- PerceivedRisk(FinancialRisk,Leg alRisk,SecurityRisk,Operational Risk)
After reviewing previous studies, the author found that there are variousperceived benefit and perceived risk factors that influence the intention to reuse e-wallets The perceived risk and perceived benefit factors identified in Table 2.2affectthe intentiontoreuseMomoe-wallet.
( 2 0 2 0 ) ; Minh etal.(2020);Sentanuetal (2020);Khuong etal.
( 2 0 2 0 ) ; Minh etal.(2020);Sentanuetal (2020);Khuong etal.
Time-loss Risk Sentanuet al (2020).
Putritama(2019);Diana, N.,& Leon,F.M.(2020);Minh etal.(2020);Sentanuetal (2020);Khuong etal.
Convenience Putritama(2019);Diana, N.,& Leon,F.M.(2020);Minh etal.(2020);Sentanuetal (2020);Khuong etal.
ResearchHypothesesandModel
Researchhypotheses
According to Ryu (2018), perceived riskisd e f i n e d b y t h e u s e r ' s p e r c e p t i o n ofu n c e r t a i n t y a n d b r o u g h t b a c k t h e n e g a t i v e c o n s e q u e n c e s o f u s i n g a n e - w a l l e t Thegreatertheperceivedriskassociatedwithmobilepayment,thef e w e r cons umers who choose to utilize it (Liu et al., 2019) In this research, the perceivedrisk is created by the four first-order constructs: Financial Risk (FR); Security Risk(SR);Time-lossRisk(TR);OperationalRisk(POR).
Financial risk is the possibility of financial loss as a result of the paymentsystem's usage (Yang et al., 2015b) System failures, financial fraud, and increasedtransaction costs are all possible reasons (Ryu, 2018) In the e-wallet business, fraudand monetary loss on user accounts are also frequent occurrences, which has been asourceofworryforconsumers.
In Vietnam, e-wallet services continue to beq u e s t i o n e d o v e r t h e p o s s i b i l i t y ofpossiblefinancialriskassociatedwiththeiroperation.Consumersare stillskeptical about the existence of potential financial risks when using Momo e- wallettopayforservicessuchasbuyingairtickets,bookinghotelrooms,
According to Luo et al (2010) described a security risk as a possible loss ofcontrol over personal information, such as the unauthorized use or disclosure ofpersonal information The term "security risk" refers to the possibility of financialloss as a result ofh a c k e r s ' c r i m i n a l b e h a v i o r i n s i d e t h e p a y m e n t s e r v i c e s y s t e m (e.g.,thelossofcontrolofdataprivacyandmonetaryloss)
(Ryu,2018).Intherisk of an e-wallet, security risks include invasion of privacy (e.g., abuse of transactionhistory, hacking of a credit card associated with the user account), which eventuallycausesanxietyanduncertaintyamongusers over the service's usage.
Inthecontextoftoday'srapidlyevolvingtechnology,serviceprovidersconstantly place a premium on the protection of customers' personal information.Although there are perceptions of security in the age of digital technology, serviceproviders continue to struggle to manage network assaults due to the continuouschangesintechnology,whichmay entirelycreateafeelingofsecurity riskincustomers.
Time risk refers to the time lost as a result of the payment system's operation,such as sluggish access to the service, attempting to run the service, and reinstallingthe service (Yang et al., 2015b; Namahoot & Laohavichien, 2018; Choo et al.,2016) For e-wallets, repeat transactions, application restarts, or interruptions in thetransaction processcanalsobecomeatime-lossriskfactor.
In fact, sometimes consumers will face unexpected problems in transactionssuch as: mistakenly transferring money to someone else's account number, systemerror, or upgrading the Momo e-wallet application also causes a loss of time duringthe refund process At that time, the customer has to spend some time contacting theservice provider to resolve the unnecessary incident Besides, getting used to newfeaturesinMomoalsotakestimeforusers.Additionally,Momoservesasanintermediary between several organizations and apps on the market, which meansthatwhenanunfavorablesituationoccurs,usersmustwaitforittoberesolved.
Operational risk refers to the likelihood of a product failing to perform asplanned and promoted, and so failing to provide the anticipated benefits (Luo et al.,2010).Inaddition,operationalriskreferstothepossiblelossproducedbyacompany'sin ternalproblems(e.g.,internalproceduresthathavefailed,systemmalfunctions, and a dearth of operational skills) (Ryu, 2018) These factors may actashurdlesforusersandfinancialinstitutions(e.g.,bank,fintech),inwhichconsumers discontinuing usage of the service if the operational risk is seen to beexcessive.
Infact,incertaincases,therearecomplaintsthatarenotwellresponded tobyt he M o m o p r o v i d e r , l e a d i n g t o c u s t o m e r d i s s a t i s f a c t i o n a n d p o s s i b l y affecting theperceivedriskofusers.
In summary, perceived risk has been shown to have a detrimental influenceon the intention to reuse mobile payment in previous research (Putritama (2019);Diana, N., & Leon, F M (2020); Minh et al (2020); Sentanu et al (2020); Khuonget al (2022) Based on the research results reviewed, the author expects the researchhypothesis:
According to Lee et al (2013), perceived benefit is defined as the user'sperception of the potential that technology gains many benefits when used In thisresearch,theperceivedbenefitiscreatedbythethreefirst- orderconstructs:Economicbenefit(EB);Seamlesstransaction (ST);Convenience(CV).
In terms offintech, according to Ryu(2018) defined economicb e n e f i t a s cost reduction and financial benefit Additionally, it features cheaper transactioncosts, a greater interest rate for creditors, and a lower interest rate for debtors insome fintech services With regards to the e-wallet, one example of an economicbenefit is the reduction of transaction charges, which are levied to consumers byfinancial service providers (Sangwan et al., 2019; Ozturk et al., 2017; Lee & Kim,2020) According to prior research, users often choose e-wallets over other paymentmethods owing to the added perks such as discounts, cashback payments, coupons,andothersortsofpromotions(Chawla & Joshi, 2019;Jun etal.,2018).
In fact, Momo e-wallet is currently providing money transfer and receiptservices, paying for other financial services completely free of charge In addition,customersalsoreceivealotofdiscountcodeswhenusingtheutilitiesthatMomo e- walletisprovidingsuchasmobilephonerecharge,foodordering, Fromthatpointonusi ngane-walletwillhelpuserswhosavealotofunnecessarymoney.
According to Ryu (2018) characterized a seamless transaction as
"benefitsassociatedwiththeuseoffintechinthetransaction"(e.g.,buyingg o o d s , trans ferringandlendingmonies, or puttingmoney intoinvestments).The absence ofaconventionalfinancialinstitution(e.g.,bank)throughoutthefinancialtransaction process is an indicative of a seamless transaction in a mobile e-wallet.Additionally, seamless transactions have the characteristic of "one-stop processing,"which implies that clients may do many financial services at the same time, such asmoney transaction, balance check, credit limit check, and shopping service (Lee &Kim, 2020) Similarly, Jun et al (2018) described a seamless transaction as one inwhichusersuseane- wallettohandlearangeoffinancialtransactionsseamlessly.
Inf a c t , M o m o e - w a l l e t i s c u r r e n t l y s e r v i n g a s a s e r v i c e i n t e r m e d i a r y f o r more than 10 different fields such as banking, tourism, public services, etc Throughthe Momo e-wallet, users can completely perform seamless transactions without theneedtoinstallanyotherintermediaryapplications.
AccordingtoOkazakiandMendez(2013),convenienceisdefinedasflexibility in time and location Similarly, according to Ryu (2018), convenience iswhen customers may use their cell phones to access and utilize the e-wallet at anytime or location The processes for authenticating users, checking balances, makingpayments, sending and receiving remittances, and utilizing financial services arehappenedsimpleandstraightforward(Handarkho&Harjoseputro,2019).
In fact, in today'sm o d e r n t e c h n o l o g y , t e c h c o m p a n i e s a r e c o n s t a n t l y t r y i n g toi m p r o v e t h e q u a l i t y o f theirs e r v i c e s t o bea b l e t o a t t r a c t m o r e c o n s u m e r s
Moreover, with the current fast-paced lifestyle, an e-wallet application that cannotmeettheprocessingspeedofusers'requestscancompletelybereplacedbycompetit ors.
Insummary,severalpriorresearchshowedthatperceivedbenefithasapositive influence on the intention to reuse mobile payment (Jun, J., Cho, I., & Park,H (2018); Putritama (2019); Diana, N., & Leon, F M (2020); Minh et al. (2020);Sentanu et al (2020); Khuong et al (2022) Based on the research results above, theauthorexpects theresearch hypothesis:
The following table summarizes the hypotheses that the author expects theperceivedriskandperceivedbenefitthatwillinfluencereuseintention:
Researchmodel
Thisstudyappliesideasfromthetheoryofperceivedrisk(TPR)andperceived benefit to determine user intentions towards Momo's e-wallet It seems asif employing technology to conduct financial transactions might result in dangerousbehavior.Thecombinationofriskandbenefitmaygiveacompletesetofinform ation for analyzing users' intentions to utilize Momo e-wallet On the onehand,previousresearchhasshownthatindividuals haveformedaninsecureattitude
Intention to reuse Momo e-wallet Perceived Risk
Economic benefit about the dependability and quality of goods and services (Marafon et al.,
2018;Ryu, 2018) On the other hand, prior research has mostly employed TPR in onlinepurchasing and mobile banking investigations As a result, the author believes thatTPR is more relevant to determining user desire to embrace financial technology.Additionally, Taylor and Todd (1995) stressed the relevance of user uncertainty,arguing that risk variables are the primary predictors of an individual's intention.Concerning the financial system's technology, it is envisaged that technology wouldbenefit both users and service providers Additionally, a lack of financial resources,adeficienttechnologyinfrastructure,andascarcity ofFintechbusinessesmayminimizetheadvantagesandfurthererodebothsides'confidenc e(userandcompany) As a result, the author employed perceived benefit and risk to predictuserintentioninmyresearchmodel.
To summarize, my proposed model has a total of two main components areperceived risk and perceived benefit Perceived benefit is created by economic,convenience, and a seamless transaction; and perceived risk is created by financial,security,t i m e - l o s s a n d o p e r a t i o n a l r i s k ; a n d i n t e n t i o n T h e c o n c e p t u a l m o d e l f o r t hisstudyisshowninFigure2.2.
The theoretical grounds connected to the study issue have been systematizedin Chapter 2 of this chapter, including the theoretical foundation of the e-wallet, thetheoretical basis of perceived risk, and the theoretical basis of perceived benefit.Furthermore, the author has suggested a model of the perceived risk and perceivedbenefit impacting on the intention to reuse the Momo e-wallet, as well as studyhypotheses.
The preceding chapter presented and explored the theoretical framework andits application to this thesis Chapter 3 of this thesis will discuss the methodologyand the scale of the factors influencing intention to reuse Following that, this thesisdiscusses statistical techniques such as Cronbach's Alpha, EFA,CFA and SEM tohypothesis testing.
Researchprocess
To begin, the author will do research on perceived risk and perceived benefitthrough local and international publications and dissertations to set the groundwork.Additionally, the author will examine the development process, popularity, andoperation of e-wallets. After examining secondary sources, the author will give atheoretical foundation for the subject, develop a research model for the hypothesis,andtestit.
Afterdevelopingtheresearchmodel,thefollowingstageistocreatearesearch design that would aid in the collection of data for testing the correlationsandhypothesesintheproposedresearchmodel.
The author collects data by quantitative research method, then examines theimpact of the variables of perceived risk and perceived benefit on the intention toreuse Momo e-wallet Thereby as a basis for drawing conclusions and managementimplicationsforthetopic.Theinformationispresentedasillustratedinthefol lowingfigure:
Confirmatory Factor Analysis (CFA)StructuralEquationModeling(SEM
Researchdesign
Thepurposeofpreliminaryresearchinordertoservethepreliminarydetermination oftherelationshipbetweenthedependentvariableandtheindependent variables Besides, it is also checked and screened for independentvariables in the proposed research model Next is to check the reasonableness of thescale, and adjust and supplement the scale for research concepts On the other hand,the formal research was done utilizing quantitative techniques with a questionnaireto gather data The steps to build and evaluate the scale used by the author in themodeloftheformalstudyarepresentedinAPPENDIX1.
Statisticalanalysis The result, the solutionimplication
Datacollection
Sampling
Good sample size must satisfy the correct calculation and accuracy One oftheimportantfactorsaffectingtheresearchsamplesizeistheexpectationofreliability, the method of data analysis, the estimation method used in the study, andtheparameterstobeestimatedwhichwerementionedas:
According to Hair et al (1998), for exploratory factor analysis (EFA) method,it is necessary to collect at least five elements for an observed variable (5:1) In thisstudy,thereare37 observedvariables,sotheratio 5:1,n 7*5 5samples.
According to Tabachnick and Fidell (2007), using the regression method, thesample size should be guaranteed at least according to the formula n >= 50 + 8mwheremisthenumberofvariablesinthestudy.Inthisstudy,thereare7independent variables,son>= 50+8*76samples.
AccordingtoRaykovandWidaman(1995),whenusingtheanalyticalmethod by SEM, requires a large sample size because it is based on the theory oflarge sample distribution Similarly, according to Anderson et al (1985), the biggestlimitation of using structural equation modeling analysis is the sample size, thesample size must be large enough for the covariances to be stable, and the minimumsamplesizeof200isappropriate,but300isbetter.
However, in order to ensure the reliability of the research scales, the authordetermined thesamplesizeinthisstudytoben50.
This study uses a non-probability sampling method; namely, a convenientsampling method to save time, low cost, and high objectivity Subjects to approachdata collection are Gen Z young people aged 12 to 27 years old,currently living andworkinginHoChiMinhCity,andareusingtheMomoe-wallet.
Scaleformulation
Likerts c a l e s a r e a p r a c t i c a l a n d a c c e s s i b l e m e t h o d t o g a t h e r q u a n t i t a t i v e data Likert scales facilitate the operationalization of complicated phenomena bydecomposing abstract themes into observable data This allows for the statisticalexaminationofhypotheses.
Typically, Likert scales comprise five or seven items, and the items at eitherend are referred to as response anchors The middle is often a neutral place withpositiveandnegativeelementson eachside.Eachitemiseithera1–5or1–7score.
Inthisresearch,theLikertscaleisused,whichconsistsofaseriesofperception- related statements Respondents will choose one of these five levels,ranging from
"Strongly disagree" to "Strongly agree," based ont h e i r a p p r a i s a l o f thestudyobject'sfeatures.
Thetopicassessestheamountofagreementwitheachobservablecharacteristicusi nga5-levelLikertscale,as follows:
Stronglydisagree Disagree Neitheragreenor disagree Agree Stronglyagree
Surveyquestionnaire
Inordertoconstructacomprehensivequestionnaireforthesurvey,t h e authorrelied onthepreviouslyindicatedscalesandobservedfactors.Priort o officialdatacollection,thequ estionnairewaspilotedandrevised.
The exact format of the questionnaire is supplied as a survey form with thefollowingthreesections:
Section 2: The questions focus on the respondents' personal information sothattheauthor maycompilestatisticsand characterizethesurveysample.
Section 3: The key questions of the research are quantitative, employing a 5- levelLikertscaletoassessthedegreeofagreementforeachobservablecharacteristic.
Dataanalysis
Cronbach’sAlphaAnalysis
The method of evaluating the reliability of the Cronbach's alpha scale wasintroduced in 1951 by Cronbach, it is used to evaluate the reliability of the scalesused to measure the concepts contained in the research model Cronbach's alpha isthe most commonly used method when evaluating the reliability of multivariablescales.
Cronbach'salphanotonlycalculatesthereliabilityfore a c h o b s e r v e d variab le but also measures the reliability for the whole scale Therefore, variablesthat measure the same concept must be strongly correlated People often use thecorrecteditem- totalcorrelationtocheckeachmeasurementvariable.Ifanobserved variableh a s a c o r r e c t e d i t e m - t o t a l c o r r e l a t i o n > = 0 3 a n d C r o n b a c h ' s a l p h a coefficient>0.6,thatscaleissatisfac tory(Nunnallyelal,1994).
In addition, many researchers also agree that Cronbach's alpha from 0.8 ormore to close to 1, that scale is good According to Peterson (1994), a scale withcoefficients from 0.7 to nearly 0.8 is a satisfactory scale Besides, there are alsoauthors who think that Cronbach's alpha of 0.6 or more is acceptable in case theconceptbeing studied isnew tothe respondents(Slater, 1995).
ExploratoryFactorAnalysis(EFA)
Theexploratoryfactoranalysismethodbelongstothegroupofinterdependentmult ivariateanalysis,whichmeansthatthereisnodependentvariable and independent variable, but it relies on the relationship between thevariables.Inotherwords,EFAanalysisisatechniqueusedtoreducea n d summarize data This method is very effective in determining the set of variablesneededfortheresearchproblemandisusedtofindtherelationshipbetweenvaria bles.
To evaluate the scale value in EFA analysis, researchers often consider fiveimportantattributes:
- Factor loading must be used to determine whether to retain or eliminate theobserved variable to guarantee that the scalea c h i e v e s t h e c o n v e r g e n t v a l u e If the loading factor is less than 0.5, the variable is eliminated from themodel, and vice versa Factor loadings more than or equal to 0.5 (Hair et al.,2006).
- The eigenvalue is used to determine the number of factors, only factors withan eigenvalue greater than 1 will be kept in the model, and factors with aneigenvalue less than 1 will be excluded because it does not have the effect ofsummarizinginformationbetterthananoriginalvariable.
- Bartlett's test considers the hypothesis H0: variables are not correlated in thepopulation.Ifthistestisstatisticallysignificant(Sig 0.90; GFI > 0.90; Cmin/df value < 3; RMSEA < 0.08 then thismodelisalsoconsideredtobesuitablewiththedatacollectedfromthemarket.
Nameof rating indicato Symbol Criticalvalue References
At the same time, CFA also helps to evaluate the scale in three aspects:discriminantvalidity,convergentvalidity, andinternalconsistency.
Validityandreliabilitytestswererequiredforthemeasurementmodelevaluation.I twasimportanttoinvestigatebothconvergenta n d d i s c r i m i n a n t validity for the validity test Constructs with AVE (Average Varience Extracted)values above 0.50 and factor loading greater than 0.50 were deemed to satisfy theconvergent validity criterion (Hair et al., 2011) In the meanwhile, discriminantvalidity requires that the value of inter-construct correlations be less than the squareroot of AVE and the MSV (Maximim Shared Varience) coefficient is smaller thanAVE.Inaddition,thisstudywillassessinternalconsistencyreliabilityusingcomposit e reliability, which is anticipated to provide a score greater than 0.60(Hairetal.,2011).
StructuralEquationModeling(SEM)Analysis
The structural equation modeling method is used to test the research model.In hypothesis testing, structural equation modeling (SEM) allows us to combinelatent concepts with measurement and canconsider independentmeasures or acombinationofresearchconceptsatthesametime.
Duringtheassessmentofastructuralmodel,theassociationbetweenconstructs will be determined using a one-tail test whose p-value is intended to belessthan0.05.Thelinkbetweenindependentanddependentvariableswillbedetermined by the size of influence on the path coefficient and R-squared, whichindicatethepredictiveaccuracyofthemodel.
This chapter 3 introduces the research design and implementation process toevaluate the scale, test the research model and hypothesis The research processincludesconductingqualitativeresearch,preliminaryquantitativeresearch,andf inallyformalquantitativeresearch.
Initially,basedonpreviousstudiespresentedinChapter2,theauthoradjusted, supplemented, and built an expectation scale with observed variables,clearly using a 5-level Likert scale for variables The main question concerns thefactors of perceived risk and perceived benefit that affect Gen Z's intention to reusethe Momo e-wallet This chapter also presents data analysis methods in quantitiveresearch. Onthe basisofthe researchm e t h o d s p r e s e n t e d i n C h a p t e r 3 , t h e a u t h o r hasconductedafieldsurvey,detailedresearchresultsarepresentedinChapter4.
In chapter 4, the study will be detailed about testing the scale, research modelandproposedhypotheses.Themaincontentwillinclude:givingtheresultso f testing the reliability of the scales and validating the hypotheses about the impact ofperceived risk and perceived benefit factors on theintention toreusee-walletsMomoofGenZ.Thetestswillbe performedbySPSSandAMOS20software.
DescriptiveStatistics
Collect samples by convenient method with survey form via google form.After removing invalid answer sheets, 358 valid votes remained for quantitativeanalysis.Theobtainedresultsshowthatthesamplehasthef o l l o w i n g ch aracteristics:
In the total number of samples collected, 24.9% are male, 75.1% are female.Thisr a t i o s h o w s t h a t w o m e n u s e t h e M o m o e - w a l l e t s e r v i c e a b o u t 3 t i m e s m o r e than men The age of the study is Gen Z from 12 to 27 years old Most of the peoplein this age group are people with high education but low income Therefore, theaverage value for eachtransaction on Momo e-walletis mostly under2 0 0 , 0 0 0 VND,accountingfor62.6%.Money transferisalsoafeaturethatuserso f t e n choosewhen usingMomoe- walletwiththerateof48.9%.
In addition, according to the survey results, more than 80% of surveyedconsumers use the Momo e-wallet at least once a week This result shows that usershave a lot of experience with the product before evaluating the Momo e- walletproduct.
In short, this is a fairly representative sample of the current situation of usingMomo e-wallet service in Vietnam The young generation of Gen Z is more familiarwiththeformof e- wallets,womentendtousethisservicemore.
Occasionally(1time/week) 129 36,0% Infrequently(1time/month) 43 12,0%
Theaveragevaluespe nt in every Momoe- wallettransaction
Cronbach’sAlpha
Accordingt o t h e p r o p o s e d m o d e l , t h e r e a r e f o u r c o n c e p t s w e r e c r e a t e d b y the perceived risk and three concepts were created by the perceived benefit thatneeds to be measuredand evaluated All concepts are calculatedb y
ItemDeleted Financialrisk(FR):Cronbach’sAlpha:0,878
Time-lossrisk(TR):Cronbach’sAlpha:0,870
As a result of running Cronbach's Alpha for the first time, the variable SR3wasremovedbecauseitdidnotmeetthereliabilityrequirementsofthescale(APPENDIX 4).
The results of running Cronbach's Alpha for the second time in Table4.2showthat:AllscalesmeettherequirementsforreliabilityanalysisthroughCronbach'sAlpha coefficient Corrected Item – Total Correlation of the observedvariablesisgreaterthan 0 3 (thesmallest is EB5=0 562)andtheove rall
Cronbach'sAlphacoefficientofthescalesisgreaterthan0.6(thesmallestisCronbach'sAlph aofthescaleITUEis0.781).
Conclusion: All concepts to be measured have thirty-six observed variables.Allt h i r t y - s i x o b s e r v e d v a r i a b l e s h a v e C o r r e c t e d I t e m –
ExploratoryFactorAnalysis
Exploratoryfactoranalysisoffactorscreatingperceivedrisk
The results of exploratory factor analysis of the scale of factors creating theperceived risk of Gen Z when using the Momo e-wallet are performed with thePrincipal AxisFactoringmethod andPromaxrotation.
The analysis results of table 4.3 show that, the KMO value = 0.924 (0.5
50%)issatisfactoryandshowsthatthecomponentvariablesinthescaleoffactorsc reating the perceived benefit of Gen Z when using the Momo e-wallet can be explained by56.628% variability of the data and is explained by the same factors as original andnodisturbancebetweenvariables.
Exploratoryfactoranalysisforthescaleoftheintentionto reuse
The results of exploratory factor analysis of the scale of intention to reuse theMomo e-wallet of Gen Z are performed with thePrincipal Axis
The results of the analysis of table 4.5 show that KMO value = 0.697 (0.5