Factors affecting the decision to use internet banking service to pay periodic bills (Electricity, Water, Network,...) of people in Ho Chi Minh City

Abstract

In the development and spreading with the tremendous speed of technology in the 4.0 era and the inevitable development trend of the world with society 5.0 "super smart" and "super effective", all activities of buying, selling and exchanging all information, goods, and services of human beings are necessary through electronic devices and Internet connectivity. This requires individuals to have the right awareness and knowledge of activities performed through technology. In addition to the development of commercial business activities through current technological platforms, banks also apply this in providing the function of making online payments to Internet Banking services. However, there are still many inadequacies in the process of operating this service and the number of current users is not really popular in Vietnam. This has urged our group to conduct this research in order to find ways to overcome the stated limits. The study was conducted for the primary purpose of identifying factors affecting the decision to use Internet Banking services for periodic invoices payment. Preliminary qualitative research is conducted by interviewing experts in the industry and the group interviews focus on proposing the proposed research model and scale. After that, continue to research quantitative and analyze data using Stata 17, analyzing the statistical description of demographic, testing Cronbach's Alpha coefficient, EFA analysis, regression analysis, and multicollinearity. With 200 valid survey votes used by the group for data processing, the research results show that 6 factors proposed by the research model have affected the decision to use Internet Banking for the payment of periodic invoices, including Ease of use, Perceived Usefulness, Influence of Technology, Perceiving Cost, Level of Risk. In addition, the group found that the demographic factors do not have a significant impact on the intention of using Internet Banking in paying invoices according to residents living in HCM City. The study also draws some reference value management implications for banks operating in this city to apply in Internet Banking services.