The influence of celebrity endorsement on behavioral intention with electronic payment services: in the case of Vietnam

In the current context of diverse electronic payment services, Mobile Money (MM) has distinct advantages due to its ability to facilitate cash-less payments without the need for a bank account. In Vietnam, MM has been piloted since 2021 and has shown significant development. This study focuses on explaining the Behavioral Intention (BI) to use MM in developing countries, with Vietnam as the focal context, through an extended Technology Acceptance Model (TAM) and user-centered variables. The results of a random survey of 528 MM users show that the TAM model effectively explains the BI to use MM in Vietnam. Additionally, individual factors, including Brand Awareness, Personal Innovativeness, Social Influence, and Celebrity Endorsements, have been found to be key determinants of BI, while the relationship between BA and BI is positively moderated by CEn. Based on the research findings, several implications for policymakers and MM service providers are discussed.