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Source: Author’s analysis from SPSS
Conclusion of hypotheses testing:
H1: Perceived Usefulness has a positive effect on consumers’ intention to use digital
payment in Hanoi. (Accepted)
H2: Perceived Ease of Use has a positive effect on consumers’ intention to use
digital payment in Hanoi. (Accepted)
H3: Security and Privacy have a positive effect on consumers’ intention to use digital
payment in Hanoi. (Accepted)
H4: Social Influence has a positive effect on consumers’ intention to use digital
payment in Hanoi. (Accepted)
H5: Trust in Service Provider has a positive effect on consumers’ intention to use
digital payment in Hanoi. (Accepted)
H6: Perceived Value has a positive effect on consumers’ intention to use digital
payment in Hanoi. (Accepted)
5. Conclusion and managerial implications
This study aims to examine the factors influencing consumers’ intention to use
digital payments in Hanoi. The empirical results indicate that perceived usefulness,
perceived ease of use, perceived security, social influence, trust, and perceived value all
have a positive and statistically significant impact on behavioral intention. With an R²
value of 0.518, the model explains a substantial proportion of the variance in users’
intention, confirming the robustness of the proposed framework.
These findings are consistent with the extended Unified Theory of Acceptance and
Use of Technology (UTAUT2), which highlights performance expectancy, effort
expectancy, and social influence as key predictors of behavioral intention (Venkatesh et
al., 2012). In addition, the significant effects of trust and perceived security reinforce prior
studies in digital payment and fintech adoption, particularly in emerging markets, where
perceived risk and trust act as critical determinants of user behavior (Oliveira et al., 2016;
Slade et al., 2015).
Importantly, this study provides context-specific insights for Hanoi. As a major
economic and financial hub of Vietnam, Hanoi is characterized by high smartphone
penetration, a rapidly growing fintech ecosystem, and increasingly digitalized
consumption patterns. These contextual factors amplify the role of perceived usefulness
and ease of use, as consumers are more likely to adopt payment technologies that offer
convenience and efficiency in daily transactions. Compared to smaller cities or less
urbanized areas in Vietnam, where cash usage remains prevalent, the adoption of digital
payments in Hanoi is more strongly driven by technological readiness and urban
consumption behavior.
Based on these findings, several managerial implications can be drawn.
First, enhancing perceived usefulness is essential to increase user adoption. Given
that perceived usefulness shows a significant positive effect on intention, service
providers should focus on expanding the functional value of digital payment platforms. In
the context of Hanoi, where consumers frequently engage in e-commerce, transportation,
and online services, integrating multiple services such as utility payments, retail
transactions, public services, and financial management tools into a single platform can
significantly improve user experience and perceived benefits. This aligns with prior
findings that performance expectancy is a key driver of mobile payment adoption
(Oliveira et al., 2016).

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