MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM HO CHI MINH UNIVERSITY OF BANKING GRADUATION THESIS FACTORS AFFECTING THE DECISION ON USING MOBILE BANKING OF UNIVERSITY STUDENTS: AN EMPIRICAL STUDY IN HO CHI MINH CITY MAJOR: FINANCE – BANKING CODE: 7 34 02 01 PHAN VU DUY KHANG HO CHI MINH CITY, 2024 MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM HO CHI MINH UNIVERSITY OF BANKING GRADUATION THESIS FACTORS AFFECTING THE DECISION ON USING MOBILE BANKING OF UNIVERSITY STUDENTS: AN EMPIRICAL STUDY IN HO CHI MINH CITY MAJOR: FINANCE – BANKING CODE: 7 34 02 01 Student’s name: PHAN VU DUY KHANG Student’s ID: 050607190193 Class: HQ7-GE04 SUPERVISOR NGUYEN THI THU TRANG, PHD HO CHI MINH CITY, 2024 i ABSTRACT 1. Thesis title Factors affecting the decision on using Mobile Banking of University students: An empirical study in Ho Chi Minh City 2. Thesis content The thesis studies the factors influencing the decision to use Mobile Banking among university students in Ho Chi Minh City. Through a questionnaire administered to 294 students and utilizing the TAM model as a framework, the author proposed six factors and constructed a scale comprising 27 observational variables to assess their impact.
Throughout various stages including data processing, statistical analysis, scale reliability testing, exploratory factor analysis, and linear regression, the research findings indicate that all six expected factors significantly influence the decision to use Mobile Banking. The impact of these factors decreases in the following order: perceived usefulness, perceived ease of use, social influence, transaction costs, perceived risks and lastly brand image. While most factors have a positive impact, perceived risk is the only factor negatively affecting students' decision to use Mobile Banking. Moreover, the decision to use Mobile Banking shows no significant differences across gender, place of birth, year of study, major and income.
Finally, the author proposes practical implications for bank management to enhance customer attraction and offers suggestions for future research directions. Keywords: Mobile Banking, decision to use, factors affecting, university students, Ho Chi Minh City. Tên đề tài Các nhân tố ảnh hưởng đến quyết định sử dụng Mobile Banking của sinh viên: Nghiên cứu thực nghiệm tại Thành phố Hồ Chí Minh. Nội dung Khóa luận nghiên cứu các nhân tố tác động đến quyết định sử dụng Mobile Banking của sinh viên trên địa bàn Thành phố Hồ Chí Minh.
Thông qua bảng câu hỏi mà tác giả đã thu thập được dữ liệu từ 294 sinh viên, từ đó tác giả sử dụng mô hình TAM làm nền tảng, đề xuất được 6 nhân tố và xây dựng thang đo gồm 27 biến quan sát để tiến hành nghiên cứu tác động của các nhân tố. Qua nhiều giai đoạn như xử lý dữ liệu, thống kê, kiểm tra độ tin cậy của thang đo, phân tích nhân tố khám phá và hồi quy tuyến tính, kết quả nghiên cứu cho thấy rằng cả 6 yếu tố kỳ vọng đều có ảnh hưởng đến quyết định sử dụng Mobile Banking của sinh viên. Các nhân tố được sắp xếp theo mức độ ảnh hưởng từ cao xuống thấp là: nhận thức lợi ích, nhận thức dễ sử dụng, ảnh hưởng xã hội, chi phí giao dịch, nhận thức rủi ro và cuối cùng là hình ảnh ngân hàng. Trong đó, nhận thức rủi ro là nhân tố duy nhất có tác động ngược chiều đến quyết định sử dụng Mobile Banking còn 5 nhân tố còn lại đều có tác động tích cực.
Ngoài ra thì nghiên cứu cũng cho thấy sự đa dạng về các biến định tính như giới tính, địa chỉ thường trú, năm học, ngành đào tạo và nguồn thu nhập không mang đến sự khác biệt về quyết định sử dụng Mobile Banking của sinh viên. Cuối cùng, tác giả đề xuất những khuyến nghị cho công tác quản trị ngân hàng nhằm cải thiện, nâng cao dịch vụ Mobile Banking và đồng thời đề xuất hướng phát triển cho những nghiên cứu tiếp theo. Từ khóa: Mobile Banking, quyết định sử dụng, nhân tố ảnh hưởng, sinh viên, Thành phố Hồ Chí Minh. iii DECLARATION My name is Phan Vu Duy Khang, a student of class HQ7-GE04, majoring in Finance – Banking at Ho Chi Minh University of Banking.
With the instruction from Ph. Nguyen Thi Thu Trang, I am conducting the graduation thesis titled “Factors affecting the decision on using Mobile Banking of University students: An empirical study in Ho Chi Minh City”. This thesis is my independent research work, and the research results are truthful, with no content previously published or undertaken by others, except for properly cited references within the thesis. Ho Chi Minh City, April 2024 Author iv ACKNOWLEDGEMENT First and foremost, I would like to express my profound gratitude to all the teachers and lecturers at Ho Chi Minh University of Banking for their devoted teaching and guidance throughout four years of study, which have equipped me with the necessary knowledge to undertake this graduation thesis today.
In particular, I would like to extend my heartfelt thanks to Ph. Nguyen Thi Thu Trang for her guidance and support throughout the entire process of my thesis, from the initial stage of ideation to the content and presentation. Especially, I would like to express my gratitude to my family, especially my parents, for their unwavering support and being the greatest source of motivation for me up to this point. Additionally, I am grateful to my friends who have stood by me through thick and thin, whether in times of difficulty or joy, failure or success.
However, due to my limited knowledge, there may still be shortcomings in the execution of this graduation thesis, and I sincerely hope to receive feedback from the professors to complete the thesis to the best of my ability. Lastly, I would like to sincerely thank and wish all the professors good health, happiness and boundless dedication on the path of education. Phan Vu Duy Khang v TABLE OF CONTENT ABSTRACT. iv LIST OF ABBREVIATIONS.
viii LIST OF TABLES. ix LIST OF FIGURES. Rationale of the study. Research subject and Research scope.
Contribution of the study. Structure of the study .5 CONCLUSIONS OF CHAPTER 1. Overview of Mobile Banking. Benefits of using Mobile Banking.
Theory of Reasoned Action – TRA. Theory of Planned Behavior – TPB. Technology Acceptance Model – TAM. Relative empirical studies.
Research gap and research direction .14 CONCLUSIONS OF CHAPTER 2. Perceived ease of use. Size of the sample. Data collecting methods.
Data processing methods. Descriptive statistics evaluation. Cronbach's Alpha reliability coefficient analysis. Exploratory Factor Analysis.
Pearson correlation coefficients. Testing differences of the sample characteristics .29 CONCLUSIONS OF CHAPTER 3. RESEARCH RESULTS AND DISCUSSIONS. Descriptive statistics of the sample.
Cronbach's Alpha reliability coefficient analysis. Exploratory Factor Analysis. Pearson correlation coefficients. Testing differences of the sample characteristics.
Independent Sample T-Test. One-Way ANOVA. Discussions on the results .58 CONCLUSIONS OF CHAPTER 4. CONCLUSIONS AND RECOMMENDATIONS.
On perceived usefulness. On perceived ease of use. On perceived risks. On social influence.
On transaction costs. On brand image. Limitations of the study. Future research directions .68 CONCLUSIONS OF CHAPTER 5 .xv viii LIST OF ABBREVIATIONS No.
Abbreviation Meaning 1 ANOVA Analysis Of Variance 2 EFA Exploratory Factor Analysis 3 HCMC Ho Chi Minh City 4 KMO Kaiser-Meyer-Olkin 5 TAM Technology Acceptance Model 6 TRA Theory of Reasoned Action 7 TPB Theory of Planned Behaviour 8 VIF Variance Inflation Factor ix LIST OF TABLES Table 2. Summary of previous studies. Summary of hypotheses. Summary of scale.
Demographic statistics of the survey. Reliability Statistics for Independent variables. Reliability Statistics for Dependent variables. Results of KMO and Bartlett test (I).
Total Variance Explained (I). Results of Rotated Component Matrix (I). Results of KMO and Bartlett test (II). Total Variance Explained (II).
Results of Rotated Component Matrix (II). Results of KMO and Bartlett test (III). Total Variance Explained (III). Results of Rotated Component Matrix (III).
Results of KMO and Bartlett test for Dependent variable. Total Variance Explained for Dependent variable. Results of testing the research hypothesis. Independent Samples Test (Gender).
Independent Samples Test (Place of birth). Independent Samples Test (Main income). Test of Homogeneity of Variances (Year of study). Test of Homogeneity of Variances (Major) .57 x LIST OF FIGURES Figure 2.
Theory of Reasoned Action (TRA). Theory of Planned Behaviour (TPB). Technology Acceptance Model (TAM). Rationale of the study The worldwide impact of the Fourth Industrial Revolution on the everyday lives of people has increasingly become more evident.
Nowadays, individuals can carry out most of their necessary activities solely using a smartphone or a computer connected to the Internet. In order to meet customer demands and avoid being left behind in this new technological era, commercial banks in Vietnam have been striving to introduce advanced banking services such as Internet Banking, Mobile Banking and Smart Banking. In fact, developing and enhancing the quality of online service products can be considered as essential for banks if they want to thrive in the future and maintain their customer base. According to Alkrisheh (2022), the development of information technology is critically important in the evolution of e-commerce transactions in general and banking transactions specifically on online platforms.
Technology has become habitual, gradually altering customer behavior. People seek secure and convenient financial services, enabling transactions anytime, anywhere, right from their handheld electronic devices, rather than spending time and effort commuting. Alongside these advancements, Mobile Banking stands out as one of the innovations by banks to adapt to this change, allowing banks to gain a competitive edge by efficiently utilizing technological innovations to enhance operational efficiency and retain customer usage rates. In fact, the COVID-19 pandemic during the 2020 – 2021 years had posed significant challenges to the economy and people's lives.
The restriction of cash usage to avoid physical contact during transactions caused a temporary disruption in people's daily habits. During that time, online payments in general and specifically Mobile Banking emerged as the "key" to avoid payment difficulties. As a result, the number of users of these services surged significantly. 2 Moreover, according to the General Statistics Office of Vietnam, as of April 2023, Vietnam's population is estimated to reach 100 million people.
The Ministry of Information and Communications also reported that by May 2023, Vietnam had approximately 123.26 million mobile subscribers. Of these, smartphone users were estimated at 101 million subscribers, an 8.72% increase year-over-year, equivalent to a rise of 8. Basic phone users (also known as 2G) were 22.26 million, a decrease of 4. Hence, this is a vast and promising market for Mobile Banking development, especially considering the Vietnamese government's push towards cashless payments.
Therefore, university students - a demographic known for being young, dynamic, and tech-savvy - are becoming one of the primary targets for banks and financial services to develop Mobile Banking. Espicially in Ho Chi Minh City (HCMC), acting as a leading economic hub in the Southern key economic region, where a diverse young population, especially students from all over the country gather - with an extensive network of banks covering the city. Building upon this, the author conducted a study titled "Factors affecting the decision on using Mobile Banking of University students: An empirical study in Ho Chi Minh City" to identify and assess the impact of various factors on the intention to use Mobile Banking among this potential customer segment. The insights derived from this research can serve as a foundation for banks to formulate marketing strategies and develop services tailored to the increasing needs of users.