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MINISTRY OF EDUCATION AND TRAINING FOREIGN TRADE UNIVERSITY - DOCTORAL THESIS SUMMARY FACTORS AFFECTING INTERNATIONAL BANK CARD USAGE BEHAVIOR IN VIETNAM Major: International Economics Code: 62.31.01.06 (New code: 9.31.01.06) NGUYEN THI HA THANH Ha Noi, 2020 THE THESIS IS COMPLETED IN: FOREIGN TRADE UNIVERSITY - Supervisor: Assoc Prof Dr BUI ANH TUAN Reviewer 1: ………………………………………………… Reviewer 2: ………………………………………………… Reviewer 3: ………………………………………………… The thesis will be defended in front of the University level Council of Thesis Assessment at …………………………………………………………………… at hour… date… month … year The thesis can be found at the National Library and Library of Foreign Trade Universisy RELEVANT PUBLICATIONS Dzung Tran Trung Phan, Thanh Thi Ha Nguyen, Tuan Anh Bui (2019), Going beyond Border: Intention to Use International Bank Cards in Vietnam, Journal of Asian Finance, Economics and Business, Vol 6, No 3, pp 317-327 Nguyen Thi Ha Thanh, 2020, Factors affecting Vietnamese Customers’ Satisfaction and Loyalty towards International Bank Card Service, Journal of International Economics and Management, Vol 127 (4/2020), pp 95-109 Nguyen Thi Ha Thanh, 2020, Developing International Bank Card Service in Vietnam, Banking Review, Vol (5/2020), pp 22-25 Nguyen Thi Ha Thanh, 2020, The advantages and Difficulties in developing international bank card service in Vietnam, Special issue of Socio-Economic Development, Vol (4/2020), pp 11-14 Preface Necesssity Bank cards offer a wide range of benefits to users and have become a popular means of payment in lieu of cash in transactions, including direct payments at POS machines and Payment transactions via the Internet In terms of geographical features, bank cards can be divided into (i) domestic bank cards that can only be used for domestic transactions and (ii) international bank cards that can be used for cross-border transactions and even globally According to the Report of the Vietnam Bank Card Association (2020), by the end of 2019, the total number of bank cards currently circulating in Vietnam reached 102.88 million, of which the growth rate of international bank cards was 19.2%, in which the market share of domestic bank cards compared to the market share of international bank cards at the end of 2019 was 85.7%/14.3% Despite the growth, the actual achieved results did not meet the expectations according to the Government's project on non cash payment in Vietnam in the period of 2016 - 2020 On the other hand, compared to the features of domestic cards, international bank cards clearly show the advantages of providing payment services to customers, especially for customers with open minds, ability to purchase, cross-border brand identity In the context of Vietnam's participation in new generation FTAs, the global market opening, the number of cross-border transactions will also increase significantly and the international banking card service can be considered as a tools to enhance the level of economic integration, enhance the competitiveness and position of banks in the new era Therefore, the reasons for the fact that international bank cards are not a popular payment instrument and account for only a small proportion of domestic cards in Vietnam is an issue that needs attention and consideration Therefore, it is necessary to study the factors affecting the intention to use of potential customers with international bank card services so that commercial banks can adjust their business and business orientation Regulators provide appropriate policy directions to help develop international bank card services From a bank perspective, the study of factors that motivate users, or those who have never owned a bank card before, to choose an international bank card or those who already own domestic bank cards convert to international bank cards are very important to help the bank expand its potential customer base However, the number of current research on Vietnam's bank card market, especially researching the factors affecting the use of international bank cards, is still scarce, current studies are mainly focus on electronic payment services and online banking services Therefore, it is possible to find gaps in the research analysis on the usage behavior of Vietnamese customers for bank cards in general and international bank cards in particular To build a research model to identify factors that influence the intention of behavior of potential users in Vietnam in deciding to use international bank cards in the future as well as study the factors affecting the satisfaction and hence the loyalty of customers who have owned international cards to offer research implications, and proposed some solutions and recommendations, the author chose the topic "Factors affecting international bank card usage behavior in Vietnam" as the research topic for PhD thesis Objectives, questions and research tasks 2.1 Research objectives The thesis focuses on studying the factors affecting the usage behavior of Vietnamese individual customers for international bank card services, thereby proposing solutions and recommendations to develop International bank card services in Vietnam today 2.2 Research questions (1) What theoretical frameworks can be applied to analyze the factors that influence international bank card usage behavior in Vietnam? (2) What are the reasons customers intend to use the bank's international cards? (3) What causes customer satisfaction and loyalty to the bank's international card service? (4) Solutions for commercial banks and recommendations to regulators to develop international bank card services in Vietnam? 2.3 Research tasks - Summary and evaluation of empirical studies in the world and in Vietnam on factors affecting the intention to use banking services and factors affecting customer satisfaction and loyalty when use banking services to point out research gaps - Systematize the theoretical basis on issues including international bank cards, customer usage behavior, theoretical framework of factors affecting the intention to use the service and theoretical framework of factors affecting customer satisfaction and loyalty when using the service - Analyze the current situation of using international bank cards in Vietnam on many different aspects as a practical basis for the research model - Using data collected from the prospective customer survey that does not yet have an international bank card combined with the research hypotheses and the proposed research model, the thesis analyzes the impact factors to the intention of using an international bank card of Vietnamese customers who not yet own the card - Using data collected from customer surveys using international bank cards in combination with the research hypotheses and proposed research models, the thesis analyzes the factors affecting the Customer satisfaction and loyalty has used the card - Proposing a number of valuable solutions and recommendations for commercial banks and regulatory agencies to expand and develop the use of international cards in Vietnam Subjectives and scope 3.1 Research subjectives The object of the thesis is the use of international bank cards by individual customers, including the intention to use international bank cards of potential customers who have not yet owned an international bank card and the satisfaction and loyalty of existing customers who own and use international bank cards 3.2 Scope - The content of the thesis is the factors that influence the use of international bank cards by customers, including (1) set of potential users and (2) set of who already owns and uses international bank cards - The spatial scope of the thesis includes potential customers and customers who already own international bank cards in Vietnam, focusing on two big cities, Hanoi and Ho Chi Minh City - The time scope of the thesis is: a research thesis based on processing primary data collected from customer survey results in the period from 01/201910/2019 Research process and method 4.1 Research process The thesis is conducted through a three-stage research process: desk research (including the study of theoretical and practical issues combined with expert opinion to develop an analytical framework, research hypothesis and tentative scale set), Preliminary surveys (interview expert opinions to adjust the scale and build preliminary survey questionnaires, then conduct small-scale surveys to finalize the official survey questionnaire) and finally a large-scale official survey 4.2 Method The survey method uses the questionnaire: This is the most appropriate method to develop research projects that are related to behavior Quantitative research method: the thesis uses the second-generation PLSSEM analysis method (Partial least squares structure equation model) (Hair Jr et al., 2014) instead of the potential approach first system for primary data analysis Contributions Firstly, the thesis is the first research focusing on the international card market of banks in Vietnam Secondly, the thesis comprehensively studies the factors affecting the use of international bank cards by customers including the intention to use international cards, the satisfaction of using international cards and decide whether or not to stick with an international bank card Thirdly, the thesis using PLS-SEM method will help to indicate the effect of mediating factors, while also separating the individual and overall effects of the original factors to the dependent variable Thesis outline In order to present the entire research content, in addition to the introduction, conclusions, list of references, the thesis consists of chapters, namely: Chapter 1: Literature reviews related to bank card usage behavior Chapter 2: Theoretical and practical basis for the use of international bank cards Chapter 3: Building research model on the factors affecting international bank card usage behavior in Vietnam Chapter 4: Analysis of research results Chapter 5: Solutions and recommendations for developing international bank cards in Vietnam CHAPTER LITERATURE REVIEWS RELATED TO BANK CARD USAGE BEHAVIOR Overview of research related to the use of bank cards in the world Research situation of customers' intention to use banking services The world's studies on customers' intention to use banking services have been conducted in many different countries and with different types of banking services, such as e-banking, Internet banking, mobile banking services, bank card services Researches around the world also apply common applied model frameworks such as Technology Acceptance Model (TAM) developed by Davis (1985), Theory of Planned Behavior (TPB) developed by Ajzen (1991), Unified Theory of Acceptance and Use of Technology (UTAUT) by Venkatesh et al (2003) Research on customer satisfaction and loyalty when using banking services Customer satisfaction creates a link between buying and after-purchase problems with changing attitudes, continued purchases and brand loyalty (Churchill and Surprenant, 1982) Customer satisfaction is defined as the attitude that comes from what the customer believes will happen (expectation) compared to what they believe has happened (performance awareness) (Neal, 1999) Many studies have identified aspects of service quality as the premise of customer satisfaction The SERVQUAL model developed by Parasuraman (1988) and the SERVPERF model developed by Cronin & Taylor (1992) are the two most used techniques in analyzing customer satisfaction perceived on the quality aspects of banking services, most of the prominent studies have applied these two models and its variants Not only concerned with the perceived customer satisfaction, retaining users and facilitating their continuous use is very important for banking service providers 1.2 Overview of research related to the use of bank cards in Vietnam 1.2.1 Research situation of customers' intention to use banking services In addition to the studies on different countries around the world, there have been published papers in Vietnam assessing the behavior, intentions and attitudes of using services using many different approaches, using various statistical analysis However, most of these studies have not focused on the bank's international card services in general Studies of intention to use a bank card, if any, are usually intended to use an ATM card or a credit card issued by a certain bank 1.2.2 Research on customer satisfaction and loyalty when using banking services Factors affecting customer satisfaction and loyalty to banking services have also been conducted with customers in Vietnam, but a common feature of researches about Vietnamese market is a very high rate of first generation statistical analysis techniques 1.3 Research gap Firstly, researches on card use behavior in Vietnam have mainly focused on card services of a specific bank, but not a comprehensive study on international bank card market in Vietnam Secondly, there is a lack of comprehensive research that studies both the intention to use the service and the satisfaction and loyalty of customers when using the service Thirdly, the intermediate effect of the latent variables between and separates the individual effects of the original latent variables to the dependent variables of the dependent variable Thus, according to the author's understanding, the thesis is the first study analyzing the usage behavior of customers, focusing intensively on international bank card services and comprehensively evaluating from intention to use to satisfaction and loyalty when using international cards using the second generation statistical method (PLS-SEM partial least squares structural equation model)  Definition of customer satisfaction According to Kotler et al (2009), satisfaction is a feeling arising from the results of an evaluation process Customer satisfaction helps connect the buying and consumption process with the post-purchase process such as change of attitude, continued purchase and brand loyalty (Churchill Jr and Surprenant, 1982)  Definition of customer loyalty Duffy (2003) defines customer loyalty as the feeling of customer bonding towards a brand This feeling motivates customers to buy a product or service many times and this will benefit the company     Theories of customer satisfaction and loyalty Service Quality Model (Gronroos, 1984) SERVQUAL (Parasuraman et al., 1988) SERVPERF (Cronin & Taylor, 1992) Hierarchical Model (Dabholkar et al., 2000) 2.2 International bank cards usage in Vietnam 2.2.1 Number of cards in circulation By the end of 2019, the number of cards in circulation in Vietnam reached nearly 102.88 million cards In particular, the number of international cards in circulation is 14.67 million cards compared to 88.21 million cards of domestic cards The card market in Vietnam, which accounts for the majority, is still domestic, which means that the international card market is still large and the competition for market share in the international card market is just beginning 2.2.2 Number of cards newly issued The total number of new cards issued in 2019 is about 21.6 million, accounting for 21% of the number of cards in circulation In particular, the number of newly issued domestic cards increased by 21.91% compared to 2018 The number of new international cards issued was 5.15 million, an increase of 29% compared to 2018 However, looking at the scale compared with domestic cards as well as development potential, this number is not commensurate with the potential capabilities of international bank cards 2.2.3 Card transaction volume 2.2.3.1 Card transaction value In 2019, the total card transaction value including cash withdrawal is 3040.2 billion VND, of which domestic card transaction value is 2420.9 billion VND and international card transaction value is 619.3 billion VND International card transaction value continued to grow highly, reaching an increase of 47% in 2019 compared to 2018 Cash withdrawal of international cards was less than half of card transaction value (respectively 43% in 2018 and decreased to 41.9% in 2019) 2.2.3.2 Cash payment value In terms of card payment value including face-off sales, the total value in 2019 reached nearly VND 3383 billion, up 10.62% compared to 2017 In particular, international card payment value were 690.1 billion, up 30% compared to sales number was 531.2 billion in 2018 In terms of proportion, sales including cash withdrawal of domestic cards still accounted for 79.6% (corresponding to 2692.8 billion of 2019), while sales international card numbers represent only 20.4% 2.2.4 International card market shares Among international card forms currently circulating in Vietnam, international debit cards account for the largest market share According to the issuing bank, in 2019, the JSC Bank for Foreign Trade of Vietnam is the bank with the highest number of international cards in the card market circulation Other commercial banks such as BIDV, Sacombank, Vietinbank, Techcombank or VPBank also showed a significant growth in the number of international cards in circulation recently CHAPTER BUILDING RESEARCH MODEL ON THE FACTORS AFFECTING INTERNATIONAL BANK CARD USAGE BEHAVIOR IN VIETNAM 3.1 Research model The proposed model studies the factors that influence the intention to use an international bank card The thesis proposes an 8-factor research model, based on the expanded combination of the two model frameworks, TPB Planned Behavior Theory and TAM technology acceptance model, and adds two more factors In addition to the factors of the two original TPB and TAM frameworks, the Perceived Disadvantages (PD) and Past Experience (PE) factors The proposed model studies factors affecting customer satisfaction and loyalty when using international customer cards The thesis research model is used based on SERVPERF model framework of Cronin and Taylor (1992) with the proposed model framework including factors: Responsibility (RES), Assurance (AS), Empathy (EMP), Reliability (RL), Tangible (TAN), Satisfaction (SAT) and Loyalty (LOY) 3.2 Research hypotheses 3.2.1 Research hypotheses about factors that influence customers' intention to use international bank cards Hypothesis Statement H1a Perceived Ease of Use is positively correlated with Attitude H1b Perceived Ease of Use is positively correlated with Intention to use H1c Perceived Ease of Use is positively correlated with Perceived Usefulness H2a H2b Perceived Usefulness is positively correlated with Attitude Perceived Usefulness is positively correlated with Intention to use H3 Attitude is positively correlated with Intention to use H4 Subjective Norm is positively correlated with Intended Use H5 Perceived Behavioral Control is positively correlated with Intention to use H6 Past Experience is positively correlated with Intention to use H7a Perceived Disadvantages is negatively correlated with Attitude H7b Perceived Disadvantages is negatively correlated with Intention to use The hypothesis studies the factors that affect customer satisfaction and loyalty when using an international bank card Hypothesis Statement H1 Assurance is positively correlated with Customer Satisfaction with international bank card service H2 Responsiveness is positively correlated with customer satisfaction with international bank card service H3 Reliability is positively correlated with Customer Satisfaction with international bank card service H4 Tangible is positively correlated with customer satisfaction with international bank card service H5 Understanding is positively correlated with customer satisfaction with international bank card service H6 Customer satisfaction is positively correlated with customer loyalty with international bank card service 3.3 Data and methodoloy 3.3.1 Data Data used for the thesis were collected by using surveys, targeted respondents are from Hanoi and Ho Chi Minh City, two biggest cities in Vietnam and they are randomly selected Data on factors that influence customers' intention to use international bank card services The survey collected 619 valid responses Of these, more than 56% are women and nearly 44% are men, about 40% are students, reflecting the fact that universities are included as one of the major data gathering locations Office staffs and professionals took up to 53% of the respondents, and the remaining were either freelancers or doing housework Correspondingly, the age distribution fit age characteristics, with a dominant 44% aged 18-22, people aged 23-40 totally took over 48% Approximately 50% of the respondents had income of less than million VND a month, most of them fell in to the “Student” category, with very little or no income However, once they are graduated, their income distribution is dramatically changed Data on factors that affect customer satisfaction and loyalty when using an international bank card Of the 367 customers who used international bank cards answer the question, more than 52% of women and nearly 48% were male, about 43% were office staffs, more than 30% were professionals, only nearly 12% of the respondents are students The age distribution is consistent with job characteristics, more than 40% at the age of 31-40, nearly 24% over the age of 40, and more than 35% under the age of 30 Nearly 47% have income from 10 -20 million dong / month, nearly 40% have income less than 10 million dong / month, 15.26% of people have income over 20 million More than 17% of respondents currently use international cards issued by JSC Bank for Foreign Trade of Vietnam, followed by JSC Bank for Investment and Development of Vietnam and Vietnam Technological and Commercial Joint Stock Bank The international bank cards issued by foreign banks accounts for more than 15% Methodology The quantitative research method PLS-SEM is used in the thesis to describe the relationship between variables through the path model, thereby showing the intermediate effects of midline factors, disaggregating the individual effects and the overall impact of the front-line factor on the end-line factor Furthermore, PLS-SEM has the advantage of allowing processing of non-normal distribution data or violating some of the classical linear regression assumptions, and PLS-SEM technique has already filled full range of factor analysis, regression and tests CHAPTER ANALYSIS OF RESULTS 4.1 The analysis of factors affecting the intention to use international bank cards in Vietnam 10 Preliminary model results From the proposed research model, the author conducted the first test of PLS-SEM model and had a reduced model, removed PD1, PD6, PU5 and PE1 indicators due to unsatisfactory system download number 11 Reduced PLS-SEM results 12 Tests results  Reliability and validity test: The model test results provide evidence of the model's consistent reliability, with aggregate reliability values (CR) in the range of 0.7 to 0.9 Convergence value of the model is also satisfactory The average of the extracted variance coefficient is higher than 0.5, as suggested by Hair et al (2019)  Discriminant Validity test: All values of HTMT achieved results below 0.85, meeting the maximum threshold of this criterion  Collinearity check of the constructs was conducted using Variance Inflation Factor (VIF): The test results show that the model does not have multi-collinear phenomena due to the maximum VIF of all potential variables only equal to 1,878  Result of significance level testing through Bootstrap algorithm With 61.3% explained for the INT variable, besides 27% ATT is explained by PEU and PU and 38.2% PU is explained by PEU Most t-value values are much higher than 1.96, except for PEU → ATT and PEU → INT confirms that nearly all variables in the model are statistically significant 4.1.4 Discussions Among the factors that affect the intention to use, the Subjective Norm variable SN has the strongest direct impact on the dependent variable, Intention to use INT ATT attitude factors have a direct and positive impact on INT intents but are also variables affected by other potential variables, including Perceived Usefulness PU and Perceived Disadvantages PD, therefore, hypotheses H2a and H7a are proven to be suitable The Perceived Usefulness PU has both a direct impact and an indirect effect on INT through ATT, leading to a relatively high total impact value of 0.257, supporting the hypothesis H2a and H2b Past Experiences PE has been found to have a moderate impact on the intention to use international bank cards Perceived Behavioral Control PBC, with a path factor of 0.196, was found to have a positive effect on INT, proving the hypothesis H5 Perceived Disadvantages PD has a total significant impact on the intention to use, including the direct impact on the customer's intention to use the international card and the indirect impact through influencing the Attitude factor, supporting the hypothesis H7a and H7b Perceived Ease of Use PEU was found to have a direct but not significant impact on the intention to use INT and attitude ATT, but PEU has a markedly positive impact on Perceived Usefulness PU 20 4.2 Analysis of factors affecting customer satisfaction and loyalty when using international cards in Vietnam 4.2.1 Preliminary model results PLS-SEM model test results show that all indicator components meet the requirements of reliability with load factor above 0.706 4.2.2 Test results  The reliability and validity of the groups of variables The convergence value of the model meets the requirements, the average difference of extracted variance is higher than 0.5, as suggested by Hair et al (2019)  HTMT Test results for Discriminant Validity All values of HTMT achieved results below 0.85, meeting the requirements of discriminatory values  Results of multicollinearity testing between potential variables Test results show that the model does not have multi-collinear phenomena because the maximum VIF of all potential variables is only 1,611 21  Result of significance level testing through Bootstrap algorithm The test results of significance level through Bootstrap algorithm show that the coefficient R2 of the model reaches statistical significance with 60.2% explanation for the SAT variable and 45.6% explanation for the LOY variable The Bootstrap algorithm shows that most t-values are much higher than 1.96 except TAN → SAT (tvalue is 1.652) 4.2.3 Discussions The thesis uses SERVPERF theoretical framework which has proved the suitability of five of the six proposed hypotheses Among the factors affecting customer satisfaction with international card services, the Assurance (AS) variable has the most direct positive effect, supporting the H1 hypothesis The next two factors that were found to impact customer satisfaction were Responsibility (RES) and Reliability (RL), which in turn supported the hypothesis H2 and H3 The significant positive effect of the Empathy variable (EMP) on customer satisfaction was also demonstrated, supporting the H5 hypothesis In addition, the Tangible factor (TAN) was found to have no impact is statistically significant to the Customer Satisfaction variable, so the H4 hypothesis is rejected The same effect of the variable Satisfaction (SAT) and Loyalty (LOY) is also shown from the model's research results with a path coefficient of 0.675 The R2 coefficient of the model shows that Satisfaction variable explains 45.6% of LOY loyalty This may be explained by the continued use of the international card service by customers not only affected by their satisfaction with the card service but also due to other factors such as conversion costs, preferential programs, attracting new customers using international cards offered by other banks 22 CHAPTER SOLUTIONS AND RECOMMENDATIONS TO DEVELOP INTERNATIONAL BANKING CARD SERVICES IN VIETNAM 5.1 Assess the advantages and difficulties of international bank card services 5.1.1 Advantages Favorable conditions for the development of international bank card services in Vietnam include: The economy has been maintaining a positive development pace, opening the economy increasingly large; Population characteristics favorable for the development of the card market; The trend of digitizing the economy; The project of developing business centers shows the determination of the Government and the State Bank in promoting trade and business centers; The commercial banks have focused on developing commercial centers and considered international cards as a potential market; Change in consumption habits and payment behavior of Vietnamese people due to Covid-19 epidemic; 5.1.2 Difficulties Difficulties for the development of international bank card services in Vietnam include: (1) Vietnam's economy still depends heavily on cash; (2) Banks focus on increasing the number of cards issued but not really focusing on the number of cards in circulation; (3) The competition is getting stronger from other forms of non-cash payment; (4) Risks, frauds in electronic payment and card payment 5.2 Solutions for banks 5.2.1 Solutions about advertising and marketing 5.2.1.1 Enhancing the advertising and marketing activities to potential customers about the features and utilities of international bank cards This is the proposal that has an impact on improving the Subjective Norm (SN) variable and needs to be emphasized because the results of the analysis of factors affecting the intention of using international card services of customers show that this variable has the highest significance to customer intention 23 5.2.1.2 Promote cross-selling activities, develop affiliate card products Banks may cross-sell international bank card services by cross-selling within the bank's own services, or cross-selling card products and services through joint ventures with various business partners Banks should aim to link with companies specializing in providing online services based on modern technology to implement affiliate financial products and services 5.2.2 Human resource solution 5.2.2.1 Focusing on professional training and improving skills for bank card officers and employees This proposal helps to improve the Subjective Norm SN variable as the model results show that the SN is the most powerful factor affecting the intention of using international cards of customers, in which the introduction and access of bank employees to customers play an important rola Moreover, the survey also shows that the attitude of bank staff is very important to help increase the perception of card service quality and satisfaction of cutomers 5.2.2.2 Combine with training institutions in recruiting and developing high quality human resources Banks should coordinate with training institutions in developing intensive training programs in financial technology, digital banking, etc The Bank can also support and cooperate with universities in practical knowledge training for teachers, supporting practical materials for teaching or organizing short-term internships, student experience sessions 5.2.3 Technology and utility solutions 5.2.3.1 Application of 4.0 payment technologies Banks need to research and continue developing more modern payment methods applying 4.0 payment technology This is also a factor that influences the positive or negative attitude of potential customers on international cards, and from there will have an impact on their intended use as a result of the research model 24 5.2.3.2 Improve the features of international cards Banks need to research and continually improve the features that international card services bring to increase the usefulness of the card because this is also a factor found to have a strong impact on the intention to use the international card of customers 5.2.3.3 Increasing benefits and offers for customers when using international cards The research results show that customers are very interested in the benefits associated with their use of international cards The Bank should regularly have promotions and updates for customers Banks need to conduct surveys and approach customers to understand customers, understand the benefits that customers want when using international cards 5.2.3.4 Simplify international card issuance procedures for customers Banks need to simplify the process of opening international bank cards to attract new customers The eligible customers and credit limits of international credit cards should also be expanded Especially, it is necessary to have policies to support and simplify the procedures for opening international bank cards with customers who already have loan packages or deposits at banks, bringing services to customers quickly and effectively 5.2.3.5 Enhance customer experience when using international borders Banks need to ensure the transparency of the use process and the confidence of customers when using international bank cards International bank cards need to be easily accepted in many places, the network of card accepted locations must be widespread, there are no transaction errors, especially for overseas usage The Bank must always ensure timely assistance to customers when problems arise during the use of international bank cards 5.2.4 Solutions to improve the safety and security of the card The customers survey results showed that the awareness of the potential disadvantages made the intention to use international bank cards of customers decreased Besides, for customers who have used international bank cards before, the 25 assurance factor has the most impact on customer satisfaction Specific solutions include: (1) full installation of equipment to prevent copying and theft of card information; (2) research and promote the application of new authentication and customer identification (KYC) technology solutions in international card payment; (3) implement international security and security standards such as: Multi-element security technology, ISO 27001 Process, PCI DSS; (4) coordinate closely with law enforcement agencies and functional agencies in detecting and handling violations in international card payment activities 5.2.5 Other solutions - Documents regulating international card processes and operations, contents of amendments and updates need to be agreed and gathered in a common set of documents - Formulate a reasonable service fee and interest policy because this is one of the obvious concerns of customers - Commercial banks should also promote the deployment of strategic cooperation with Fintech companies and financial institutions 5.3 Proposals to regulatory agencies 5.3.1 Proposals to the Government and concerned ministries / branches - Documents regulating international card processes and operations, contents of amendments and updates need to be agreed and gathered in a common set of documents - Formulate a reasonable service fee and interest policy because this is one of the obvious concerns of customers - Commercial banks should also promote the deployment of strategic cooperation with Fintech companies and financial institutions 5.3.2 Proposals to the SBV SBV needs to strengthen the implementation of national communication on non-cash payments, especially using international bank cards 26 Continue to develop and promulgate policies and regulations towards making commercial centers, including international card payment, become more popular Promote connection and cooperation with the International Card Organization as well as with banks around the world SBV needs to strengthen measures to limit risks in card transactions, support banks and payment intermediaries to take measures to prevent them The SBV needs to continue multilateral negotiations with international card organizations to reduce fees applied to Vietnam's card market, and develop the information infrastructure system for international card services to meet the current standard 27 CONCLUSIONS Summary of the main results achieved Literature review: aggregated more than 100 international and domestic research papers and from there pointed out research gaps Develop analytical framework, research hypotheses to implement research objectives and answer research questions Set up a scale of factors affecting the intention to use the international bank card service including 38 questions including demographic questions Set up a scale of factors affecting customer satisfaction and loyalty to the international bank card service with 35 questions including demographic questions The results of the thesis have evaluated the current status of using international bank cards in Vietnam in combination with the analysis of factors affecting the international bank cards usage behavior of Vietnamese customers, to propose valuable solutions and recommendations to commercial banks and regulatory agencies Limitations of the thesis and recommendations for future research directions Firstly, related to the research object In this study, the author focused on analyzing the intention to use international bank card services as well as customer satisfaction and loyalty from the bank's perspective on its customer base (potential customers and current customers) In the future, it is possible to develop research by analyzing the behavior of customers using international cards from the perspective that it is a through process of an individual customer The second is related to the questionnaire analysis method In the thesis, demographic - sociological factors have not been included in the framework of the research model In the future, research can be developed by considering the impact of sociodemographic factors on the intended use as well as customer satisfaction and loyalty Next, with the way the questionnaire is investigated, the existence of subjective, biased, emotional and extreme opinions of the respondents is inevitable despite the statistical test results, shows reliable and consistent data ... payment behavior of Vietnamese people due to Covid-19 epidemic; 5.1.2 Difficulties Difficulties for the development of international bank card services in Vietnam include: (1) Vietnam's economy... banking services for people; (4) Attract foreign tourists 2.2 Overview of customer behavior toward service 2.2.1 Customer behavior definition Within the scope of the thesis, customer behavior is... behavior of Vietnamese individual customers for international bank card services, thereby proposing solutions and recommendations to develop International bank card services in Vietnam today 2.2