Factors affecting the postponement in using mobile money services among Vung Tau city residents

Abstract

The use of telecommunications accounts for payment, without the need for cash - known as mobile money, has been successfully implemented in numerous countries across the globe. This method holds particular significance for residents in remote and rural areas, as well as the elderly population. However, this service has not gained widespread popularity in Vietnam. The research aims to examine the factors that contribute to the delay in adopting mobile money among residents of Vung Tau city, Vietnam, employing the Innovation Resistance Theory (IRT) model developed by Ram & Sheth (1989). Data was gathered through a survey with 388 available respondents. Analysis of the Structural Equation Model (SEM) revealed that there are 5 factors that influence the postponement in using mobile money services among residents, including Usage Barrier, Value Barrier, Risk Barrier, Tradition Barrier, and Image Barrier. Based on the research findings, the study proposes several managerial implications to reduce barriers, stimulate usage intention, and introduce mobile money services to the general population, especially in Vung Tau city.