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In the context of digital payments, TAM is particularly relevant because digital
payment represents a form of financial technological innovation. When consumers in
Hanoi perceive that digital payments save time, offer greater convenience than cash, and
facilitate more effective expense management, perceived usefulness is likely to
strengthen their intention to use such services. Simultaneously, if the payment process is
designed to be simple and user-friendly, perceived ease of use will further enhance
acceptance. Therefore, TAM provides a critical theoretical foundation for explaining the
mechanism through which digital payment usage intention is formed.
2.2.4. Unified theory of acceptance and use of technology (UTAUT)
The Unified Theory of Acceptance and Use of Technology (UTAUT) was developed
by Venkatesh et al. (2003) to integrate and extend prior theoretical frameworks, including
TAM, the Theory of Reasoned Action (TRA), and the Theory of Planned Behavior (TPB).
The model identifies four key determinants influencing technology usage intention and
behavior: performance expectancy, effort expectancy, social influence, and facilitating
conditions.
Performance expectancy is conceptually similar to perceived usefulness in TAM and
reflects the degree to which an individual believes that using a technology will help
achieve gains in performance. Effort expectancy corresponds to perceived ease of use and
represents the degree of ease associated with system use. Social influence refers to the
extent to which individuals perceive that important others believe they should use the
technology. Facilitating conditions denote the degree to which individuals believe that
adequate technical infrastructure and support are available to enable system use.
The original study demonstrated that UTAUT could explain up to 70% of the
variance in usage intention, significantly outperforming earlier models (Venkatesh et al.,
2003). This strong explanatory power has positioned UTAUT as a highly valuable
theoretical framework in technology adoption research. Subsequently, the authors
extended the model to UTAUT2 by incorporating additional constructs such as hedonic
motivation, price value, and habit to better suit consumer contexts (Venkatesh et al.,
2012). In digital payment research, UTAUT2 is particularly relevant because digital
payment services are consumer-oriented fintech innovations, and the model accounts for
social and behavioral consumption factors.
In the context of Hanoi—characterized by high population density, rapid
technological diffusion, and a dynamic digital economy—social influence and facilitating
conditions (such as internet infrastructure, smartphone penetration, and digital banking
systems) may play significant roles in shaping digital payment usage intention. Therefore,
integrating TAM and UTAUT enables this study to construct a theoretical framework that
both builds upon classical foundations and reflects the distinctive characteristics of the
contemporary digital economy.
2.4. Hypothesis development
H1: Perceived usefulness has a positive effect on consumers’ intention to use digital
payments in Hanoi.
H2: Perceived ease of use has a positive effect on consumers’ intention to use
digital payments in Hanoi.
H3: Perceived security has a positive effect on consumers’ intention to use digital
payments in Hanoi.
H4: Social influence has a positive effect on consumers’ intention to use digital
payments in Hanoi.

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