Factors Influencing the Intention to Choose E-Wallet in Shopping Online: Case Study of Ha Noi Citizens
Online buying grows in over the world, especially in Viet Nam now. The development of online buying has impacted on diversifying online payment methods including e-wallet. There are many benefits in using e-wallet. E-wallet is considered high potential de
- PDF / 347,118 Bytes
- 16 Pages / 439.37 x 666.142 pts Page_size
- 3 Downloads / 233 Views
1 Introduction In developed countries, non-cash payment methods have been used in daily life for a long time and replace the traditional cash payment rapidly. For instant, European Central Bank’s statistic shows that 134 billion new non-cash payments were made in 2017, which increases the total payments by those methods in the EU by 7.9% compared to 2016. Furthermore, the ratio around one to ten between the “paper-based transaction” and the “electronic transactions” continues increasing the importance of e-payment methods the EU area (European Central Bank 2017). E-wallet is a non-cash payment which is gradually used widely in many countries due to its usefulness. This method enables users to pay for both offline and online transactions. In European, the common of using e-wallet among citizens indicated by 42% payments were made via e-wallet in 2017. In some nations such as Italy, UK, etc., PayPal (e-wallet) is the most popular payment service (DPD Group 2017a, b). The E-wallet in Asia is also developing significantly. Due to WorldPay, by 2021 e-wallet is expected to dominate other payment methods by make up for more than 51% the payments in e-commerce market. Meanwhile, the using of cards payments is predicted to decrease from 30 to 10% among ecommerce transactions in this area (Worldpay 2017). E-commerce is rapidly developed in Vietnam. This lead to increasing number of non-cash payment methods. Among them is e-wallet. Although e-wallet has been used widely in some countries in the world, e-wallet is a new payment service to Vietnamese citizens. Up to now, 19% of e-commerce transaction value in Vietnam is implemented via e-wallets. The transactions value via e-wallets is equal to that of cash payment, third to card payment (34%) and bank transfer (22%) (Vietnamnet H. L. T. Lan · H. T. Thi Van (B) · H. T. T. Phuong National Economics University, Ha Noi, Vietnam e-mail: [email protected] © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021 H. Shioji et al. (eds.), Management for Sustainable and Inclusive Development in a Transforming Asia, https://doi.org/10.1007/978-981-15-8195-3_18
311
312
H. L. T. Lan et al.
2019). However, it is forecasted that Vietnam’s e-wallets will be the fastest-growing payment method in e-commerce. Therefore, understanding the factors influencing consumer’s intention to use e-wallet in shopping online is very important. This will provide crucial insights for e-wallet providers in managing and developing market share.
2 E-wallet and Online Shopping in Viet Nam Online Shopping in Viet Nam It is undeniable that the online shopping market in Vietnam is very dynamic and potential. As in Fig. 1, there are 45.4 million internet users in 2015. It is growing rapidly. It reaches 68.17 million internet user in January of the year 2020 (Vnetwork 2019, 2020; Dammio 2016, 2017, 2018). There are 94% of internet users who use internet daily. The percentage of internet users who use at least one time per week is 6%. The people who access internet through mobile c
Data Loading...
