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methods, including QR code payments, e-wallets, and digital banking services (Tan & Tran,
2025).
Despite these favorable infrastructural and policy conditions, the level of adoption
and usage of digital payments among consumers remains uneven. Barriers such as
concerns over security and privacy, perceived technological risks, and the persistence of
cash usage habits continue to influence users’ behavioral intentions (Lang et al., 2021).
This indicates the need for more in-depth studies to better understand the factors
influencing consumers’ intention to use digital payments in specific contexts.
From an academic perspective, numerous international studies have demonstrated
that technology adoption intention is influenced by factors such as perceived usefulness,
ease of use, and social influence, as explained by the UTAUT2 model (Venkatesh et al.,
2012). In addition, in the context of digital payments, trust and perceived risk have been
identified as critical determinants of user behavior (Oliveira et al., 2016; Slade et al., 2015).
However, most of these studies have been conducted in developed countries or in
markets with high levels of technological maturity. In contrast, in Vietnam in general and
Hanoi in particular, empirical research on digital payment adoption remains limited and
fragmented, failing to fully capture the characteristics of a rapidly digitizing emerging
economy where consumer behavior is still in transition.
Therefore, the urgency of this study arises from both practical needs and existing
research gaps. Practically, understanding the factors influencing consumers’ intention to
use digital payments will assist fintech firms, commercial banks, and policymakers in
designing appropriate strategies to enhance adoption and actual usage. Academically, this
study contributes to validating and extending technology acceptance models in the
context of a developing economy. In particular, selecting Hanoi—one of the country’s
major economic, financial, and technological centers—as the research setting ensures
both representativeness and practical significance for proposing policies to promote
cashless payments in the ongoing digital transformation era.
2. Literature review and theoretical background
2.1. Literature review
In recent years, research on the intention to use digital payments has primarily
been developed based on technology acceptance theories, particularly the Unified Theory
of Acceptance and Use of Technology (UTAUT2) and the Theory of Planned Behavior (TPB).
These studies generally agree that the adoption of digital payments is influenced by
multiple groups of factors, including technology-related perceptions, psychological factors
(such as trust and perceived risk), and social contextual factors.
First, from the perspective of technology acceptance models, numerous studies
have confirmed the crucial role of factors such as perceived usefulness, perceived ease of
use, and social influence in shaping the intention to use digital payments. A study by Vo
Thi Le Uyen et al. (2023) in Vietnam found that UTAUT2-related variables, including
performance expectancy, ease of use, facilitating conditions, and perceived cost,
significantly influence digital payment adoption. Similarly, studies by Luong Quoc Vu et al.
(2024) and Dang Thi Minh Nguyet et al. (2021) indicate that perceived usefulness,
perceived ease of use, and social influence are key determinants driving both intention
and actual usage of e-wallets in the Vietnamese context. These findings are consistent
with international studies that emphasize the robustness of technology-related
perceptions across different contexts (Dwivedi et al., 2019; Venkatesh et al., 2012).

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