Analyzing Factors Impact Customers' Continuous Usage Behavior Toward E-Wallets In The Age Of Cashless Transactions: An Empirical Case In Vietnam

Abstract

The main purpose of this study is to examine the determinants that influence the continuance usage behavior of e-wallets among customers in Vietnam. The author has developed a research model that develops upon previous UTAUT models. This model examines the factors that influence the continued use of e-wallets, including performance expectation, effort expectation, facilitating conditions, social influence, payment security, trust, habit, and customers ‘continuance usage intention. An evaluation of the measurement model and an evaluation of the structural model were carried out by the author with the assistance of the SMARTPLS 3.0 software in order to investigate the elements that affect the continuance usage behavior of electronic wallets by consumers. To provide evidence, data obtained from 260 respondents who were informed about and familiar with the use of electronic wallets in Vietnam, including Momo, Zalo Pay, Shoppe Pay, Viettel Pay, and VN Pay, were analyzed. As a result, the positive effects of performance expectation, effort expectancy, trust, habit, and continuance usage intention on customers’ continuance usage behavior are determined. The findings can be a helpful source for e-wallet providers in developing customer retention strategies.