Digital economy and the electronic payment behavior: An empirical analysis

Abstract

This study aims to investigate the factors that affect the electronic payment behavior of Vietnamese consumers. The primary focus is on identifying the challenges that consumers encounter when using e-payment methods.

The research employed multivariate regression models and conducted various data reliability tests, such as exploratory factor analysis, Cronbach's alpha coefficient, analysis of variance, rotation matrix, and correlation coefficient tests. A total of 318 respondents completed a self-report questionnaire after disqualifying 10 invalid responses. Subsequently, the collected data were subjected to further statistical analysis.

The study's findings revealed a strong correlation between various factors and electronic payment behavior, with correlation percentages at a 1% significance level of 74.3%, 56.9%, 47.2%, 54.6%, and 82.4%. The data showed high reliability, with a Cronbach's alpha of 0.893.

The practical results of this research will assist micro- and macro-managers in comprehending e-payment behavior and devising effective strategies to entice customers.