HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY FACULTY OF BUSINESS ADMINISTRATION SUBJECT: PROJECT RESEARCH TOPIC: FACTORS AFFECTING THE SATISFACTION OF GENERATION Z IN HO CHI MINH CITY WHEN USING THE MOMO E-WALLET Group name: Class: Students’ name and ID: HCMC, October/2024 Table of Contents ABSTRACCT. TH HH Họ TH TH.00 1 CHAPTER 1: INTRODUCTTIƠNN. cọ HH HH HH HH TH HH 00 2 1.2 Research Pr0oÌl©rm. --- --- << + họ HH Họ.
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«co cc sc < 2 3052 13. Future Research and Limitations 5.4 Conclusion REFERENCES: APPENDIX ABSTRACT This study explores key factors influencing Generation Z’s satisfaction with the MoMo e- wallet in Vietnam, focusing on convenience, service integration, reliability, security, and user interface design. Findings reveal that while convenience impacts satisfaction, unmet expectations in this area can lead to dissatisfaction. Security and user interface demonstrate strong positive effects, reflecting Generation Z’s high emphasis on secure, intuitive digital experiences.
Reliability also has a significant positive effect, while service integration does not show a notable influence. Theoretically, this research adapts the SERVQUAL model for digital payment services, emphasizing the importance of user interface and security in e- wallet satisfaction. Practically, the findings provide actionable insights for MoMo and similar providers to enhance features like real-time security alerts and seamless, personalized interfaces. This study contributes to understanding digital payment satisfaction in emerging markets, offering strategic guidance for boosting user satisfaction and loyalty among Generation Z in a competitive digital landscape.
Keywords: Generation Z, E-Wallet, MoMo, Convenience, Service Integration, Reliability, Security, User Interface Design, SERVQUAL model CHAPTER 1: INTRODUCTION 1.1 Study Background E-wallets have become an essential part of the modern payment system, especially in the context of rapid digital transformation in Vietnam. MoMo, one of the most popular e- wallet platforms in Vietnam, has stood out thanks to its combination of advanced technology and diverse customer service. Launched in 2010, MoMo has built a large user base thanks to its ability to provide payment services, money transfers, shopping, and other incentives quickly and conveniently. Gen Z, including those born from the mid-1997s to the early 2012s (Thuvienphapluat.), is the main customer group of technology services today.
They are characterized by their technology savvy and habit of using online services. This makes it important to study Gen Z's satisfaction with MoMo. Understanding the factors that influence the satisfaction of this group can help MoMo adjust and optimize its services to better meet the needs of customers.2 Research Problem Although MoMo has achieved many successes in attracting users, understanding the factors that influence the satisfaction of Gen Z has not been fully researched. User satisfaction can be influenced by many different factors such as product features, user interface, security, and customer service.
However, no research has provided insight into Gen Z's satisfaction with MoMo and which specific factors are most important to this group.1 Reasons Research on Gen Z's satisfaction when using MoMo is necessary because this generation represents the future of the e-wallet market. Understanding the factors that influence their satisfaction will help MoMo optimize its services, improve user experience, and retain customers in an increasingly competitive environment. Furthermore, the data from this study can provide valuable information for future marketing and product development strategies.2 Previous studies Previous studies on user satisfaction with e-wallets often focus on factors such as convenience, security, service fees, and customer support. For example, (Nguyen, 2022) found that convenience is the most important factor influencing the intention to use Momo wallet.
However, this study mainly focused on general user groups and did not delve into the satisfaction analysis of Gen Z, a group with different habits and expectations. Therefore, this study will fill the existing gap in the literature by focusing on Gen Z’s satisfaction with MoMo.3 Research Question To understand the factors that influence Gen Z’s satisfaction with MoMo e-wallet, this study will analyze important variables related to the use of e-payment services. In the context of the Vietnamese market, studying these factors is essential to provide insights into users’ needs and behaviors. Although many studies have examined the factors that influence satisfaction and intention to use e-wallet services, there is still a gap in studying the specific factors that influence Gen Z, the main user group of MoMo.
This study aims to analyze the factors influencing the mtention to use MoMo e-wallet among Gen Z in Vietnam, explore the demand for using this service, and identify the key factors and their impacts on the intention to use of each customer group. In particular, the study will provide a platform for e-wallet service providers, including Online Mobile Services Jomt Stock Company (the developer of the MoMo application), to better understand the e-wallet market and propose appropriate solutions to support the long- term development of the e-payment sector in Vietnam. This report will study the following main RQ: Which key factors influencing Gen Z's overall satisfaction with MoMo E-Wallet? To be able to study this question in depth, the report will have 5 additional sub-questions: e Sub Research Question 1: In what way does the convenience of MoMo E-Wallet for different payment services influence Generation Z's satisfaction with the platform? Sub Research Question 2: How does the integration of MoMo E-Wallet with external systems like bank accounts, utility services, and e-commerce platforms influence Generation Z’s satisfaction with the service? Sub Research Question 3: How does Generation Z’s satisfaction with MoMo E- Wallet relate to its perceived reliability in terms of transaction consistency and accuracy? Sub Research Question 4: How do the security features of MoMo E-Wallet, such as data protection and transaction safety, affect Generation Z's satisfaction with the service? Sub Research Question 5: To what extent does the design and ease of use of MoMo E-Wallet’s interface impact Generation Z's satisfaction with the application? This study will provide valuable information to help e-wallet service providers adjust their strategies to better meet the needs of Gen Z, while contributing to the development of the e-payment market in Vietnam. Research Objective The study aims to understand the key factors that Gen Z appreciates in e-wallet services, including convenience and service integration, reliability and security, as well as user interface design.
By identifying and analyzing these factors, the study will have the main objective of this report is to investigate these factors affecting Generation Z's satisfaction when using the MoMo e-wallet. Based on the research sub-questions, the study will outline five research objectives that will contribute to clarifying the main objective of the report. Sub Research Objective 1: The convenience of various payment options within MoMo E- Wallet influences how satisfied Gen Z users are with the platform. Sub Research Objective 2: The integration of diverse payment services in MoMo E- Wallet impacts the overall satisfaction of Gen Z users with the platform.
Sub Research Objective 3: Gen Z's satisfaction with MoMo E-Wallet is affected by the reliability they perceive the service to be. e Sub Research Objective 4: The perceived security of MoMo E-Wallet plays a role in shaping Gen Z’s satisfaction with the service. e Sub Research Objective 5: The user interface of MoMo E-Wallet's interface influences Gen Z’s satisfaction with the app.1 Theoretical Contribution This research will significantly advance theoretical knowledge in the field of electronic payment systems by offering a detailed analysis of user satisfaction factors specific to Generation Z. By integrating variables such as convenience, service integration, reliability, security, and user interface into the SERVQUAL model, the study will refine and extend this model to better capture the nuances of e-wallet adoption and satisfaction.
Additionally, the research will fill gaps in the current literature by focusing on an emerging market, Vietnam, which has been underrepresented in prior studies. This will provide valuable insights into how cultural and economic contexts influence user behavior and acceptance of digital payment systems, contributing to a more comprehensive understanding of e-wallet use in diverse environments.2 Practical Contribution From a practical perspective, this research will provide actionable insights for MoMo and other e-wallet service providers aiming to enhance their offerings and market presence. The findings will inform strategies to improve user satisfaction by highlighting the key features that are most valued by Generation Z, such as enhanced convenience, robust security measures, and intuitive user interfaces. This knowledge will enable MoMo to refine its application, tailor its marketing strategies, and enhance customer support to better meet the needs of this demographic.
Furthermore, the research will offer strategic recommendations that can help e-wallet providers stay ahead of market trends, adapt to evolve user expectations, and strengthen their competitive positioning in the digital payment landscape. By leveraging these insights, MoMo can drive user engagement, 5 boost retention rates, and achieve sustained growth in the rapidly expanding e-wallet market. Structure Chapter 1: Introduction Chapter 2: Literature Review Chapter 3: Methodology Chapter 4: Result Chapter 5: Conclusion and discussion CHAPTER 2: LITERATURE REVIEW 2. Theory background Satisfaction theory generally refers to the study of how individuals or consumers evaluate their experiences or interactions with products, services, or situations based on their expectations and the actual outcomes.
Satisfaction is typically seen as a key indicator of success in customer relationships, personal experiences, or goal achievement (Parasuraman et al. In business and psychology contexts, satisfaction theory often encompasses the following: 1. Expectancy-Disconfirmation Theory: This is one of the most widely accepted theories of satisfaction. It suggests that satisfaction arises from the comparison between a person’s expectations and the actual performance or outcome.
If the experience meets or exceeds expectations (positive disconfirmation), satisfaction is high. If it falls short (negative disconfirmation), dissatisfaction occurs (Oliver, 1980). Equity Theory: According to Adams (1965), satisfaction 1s also influenced by the perception of faimess in an exchange or interaction. In this theory, individuals compare what they receive to what they feel they deserve or what others receive.
Satisfaction increases when individuals perceive that they have been treated fairly. SERVQUAL Model: The SERVQUAL model is closely related to customer satisfaction because satisfaction often depends on whether the service meets or exceeds their expectations. This is a model for measuring service quality based on the comparison between customer expectations and their actual perceptions of the service. The model is built on five components: reliability, responsiveness, assurance, empathy, and tangibles.
It helps businesses identify gaps between what customers expect and their actual experiences, enabling improvements to better meet customer needs (Parasuraman et al. The SERVQUAL model is the best and most suitable choice for this study to measure the factors affecting Gen Z's satisfaction when using the MoMo e-wallet, as it 1s an effective and widely used model for evaluating service quality.