Factors Influencing Customer Behavioral Intention of Mobile Money: A Case Study in Vietnam

This study explores the factors influencing the behavioural intention of Mobile Money services in Vietnam. To address the research problem, the author has combined the UTAUT2 model [1] with the Push-Pull-Mooring model [2]. The data collection was conducted from March to July 2024 across three regions of Vietnam: the North, Central, and South. The collection methods included both direct surveys and online surveys via Google Forms, distributed through social networks such as Facebook and Zalo. A total of 1,784 participants responded, of which 1,576 valid responses were obtained. Among them, 369 respondents had never heard of Mobile Money, while 1,180 were already aware of the service. Key findings are: (i) The study develops a research model regarding factors influencing the behavioural intention of Mobile Money services in the context of Vietnam, which consists of three groups of factors. The pull factor is reflected in Performance expectancy, Effort expectancy, facilitating conditions, and transaction trends. The push factor is represented by perceived costs and perceived risks, while the mooring factor is reflected in social influence and trust. (ii) The push factor has the strongest negative impact on consumer intentions to use the service, while the pull factors positively affect the behavioural intention. Mooring factor has both a positive impact on intention and play a moderating role in the relationship between the pull and push factor and the behavioural intention of MM service. Keywords: Fintech, network provider, mobile finance, mobile money, mobile payment, telco account.