Tài liệu The adoption of tradecard payment in Vietnam

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Luong Tung Bao Thesis The Adoption of TradeCard payment in Vietnam Supervisor: Prof. Nguyen Dong Phong November 2013 Acknowledgement The process of writing this thesis is a challenging task and an insightful research. Without the love, the care, the full support and guidance from my professors and my friends, I may not reach the target and complete the journey successfully. First and foremost, I would like to express great gratitude to my thesis advisor, Dr. Nguyen Dong Phong for his help and guidance in conducting this research and thanks for his generous as well as his support during the time I study here. Special thanks to Dr. Dinh The Hoang for his dedicated guidelines in data analysis section. And further thanks go to the members of my thesis committee for their feedback, comments and encouragement. The thesis would not have achieved this quality without their assistance. Great thanks to my special friends in for their assistance in my life and my study. Special thanks to responders for their enthusiasm to help me collect the data and thanks to ISB friends for happy moments we spent together. Finally, I would like to give my deepest and greatest thanks to my family for their love and their encouragement. Thank to my Dad who always trust me, teach me to be more patient to achieve success in study and life; thank to my sweet Mom who always gives me tender cares and encourages my dreams and aspirations. Page i Abstract “Vietnam continues to be one of the world’s fastest growing sourcing locales, particularly for footwear and apparel,” said Drew Dempsey, Vice President of Global Services, TradeCard Asia-Pacific in celebration of opening new offices in Vietnam in 2012. TradeCard is one of among electronics payment methods applied for over eight years in Vietnam, marking a significant development for society in general and in banking particularly. Besides that, more and more Vietnamese companies have started using TradeCard to support its business but it is still an unpopular concept for many Vietnamese people. It has not caught on with the banks customer in Vietnam. Thus, the main purpose of this study is to identify the adoption of TradeCard in Vietnam. The study starts with the bases on some theory models such as Technology Acceptance Model (TAM), and computer anxiety in performing TradeCard payment as a moderator to employ for the analysis TradeCard payment adoption, specifically for TradeCard in Vietnam. Data of the quantitative survey is gathered from Vietnamese users in two biggest cities Ha Noi and Ho Chi Minh, who have been using this payment method with a snow ball sampling method was used to sample the subjects. The results are expected to support the proposed hypotheses. They are expected to provide trading companies, bankers, and government with more information about the adoption of TradeCard in Vietnam. Limitations, discussions and suggestions will be explained the results in research and practice. Page ii Table of Contents Acknowledgement .................................................................................................................... i Abstract ..................................................................................................................................... ii Table of Contents ..................................................................................................................... iii List of tables ............................................................................................................................. vi List of figures .......................................................................................................................... vii Chapter I: Introduction ...............................................................................................................1 1.1 Background ...........................................................................................................1 1.2 Research Purpose, Objectives, and Research Questions ........................................2 1.2.1 Research Structure ....................................................................................2 1.2 Scope and Limitations ............................................................................................2 Chapter II Literature Review .....................................................................................................4 2.1 Definitions of Terms ..............................................................................................4 2.1.1 Electronics Banking ..................................................................................4 2.1.2 Electronics Money ....................................................................................4 2.1.3 Electronics Payment..................................................................................4 2.1.4 TradeCard payment ...................................................................................4 2.1.5 Electronics Payment Mean .......................................................................4 2.2 Electronics Commerce Market and Electronics Payment Market in Vietnam .......5 2.3 Theoretical Background of Technology Acceptance Model ..................................6 2.3.1 Technology Acceptance Model (TAM) ....................................................6 2.4 Factors influencing the use of TradeCard and its relationship between Model Constructs .....................................................................................................................8 2.4.1 Perceived Ease of Use (PEU) ...................................................................8 2.4.2 Perceived Usefulness (PU) .......................................................................8 2.4.3 Perceived Risk (perceived risk in the context of online transaction (PRT) and perceived risk with product/service (PRP)) ................................................9 2.4.4 Information on TradeCard payment (IF) ................................................10 Page iii 2.4.5 Computer Anxiety (CA) .........................................................................10 2.4.6 TradeCard payment Use (TPU) ..............................................................11 2.4.7 The Relationship among Perceived Usefulness (PU), Perceived Ease of Use (PEU) and TradeCard payment Use (TPU) ..............................................12 2.4.8 Perceived Risk (PR) and TradeCard payment Use (TPU) ......................12 2.4.9 Information on TradeCard payment (IF) and Perceived Risk (PR) ........13 2.4.10 Information on TradeCard payment (IF) and Trade Card payment Use (TPU) ...............................................................................................................14 2.4.11 Computer Anxiety (CA) on Trade Card payment Use (TPU) ..............14 2.5 Research Model ....................................................................................................15 Chapter III Research Design ....................................................................................................16 3.1 Research Questions and Associated Hypotheses ....................................................16 3.2 Subjects and Sampling ............................................................................................16 3.3 Instrument design ....................................................................................................16 3.4 Expert Validity ........................................................................................................19 3.5 Pilot Test and Face Validity ....................................................................................19 3.6 Quantitative Research .............................................................................................19 3.7 Data Analysis ..........................................................................................................20 Chapter IV Data Analysis ........................................................................................................21 4.1 Data Collection ........................................................................................................23 4.2 Descriptive Analysis................................................................................................23 4.2.1 Respondents’ Demographics ................................................................................24 4.2.2 Descriptive Statistics ............................................................................................25 4.3. The Validity and Reliability ...................................................................................28 4.4 Explanatory Factor Analysis ...................................................................................28 4.5 Regression Analysis ................................................................................................30 4.5.1 Information on TradeCard payment Predicting Perceived Risk with Product/Service ................................................................................................31 Page iv 4.5.2 Information on TradeCard payment Predicting Perceived Risk in The Context of Online Transaction .........................................................................32 4.5.3 Variables Predicting TradeCard Payment Use .......................................33 4.5.4 Comparisons between Two City Groups in Regression Analysis ..........35 4.6 Path Analysis ...........................................................................................................36 4.6.1 Effective Estimation of Perceived of Use on TradeCard payment Use ..37 4.6.2 Effective Estimation of Perceived Usefulness on TradeCard payment Use ...................................................................................................................38 4.6.3 Effective Estimation of Computer Anxiety on TradeCard payment Use38 4.6.4 Effective Estimation of Perceived Risk with Product/ Service on TradeCard payment Use ..................................................................................38 4.6.5 Effective Estimation of Information on TradeCard payment Use ..........38 Chapter V Results ....................................................................................................................41 5.1 Findings and Conclusions .......................................................................................41 5.1.1 What Significant Factors Affecting the Use of TradeCard payment in Vietnam ............................................................................................................41 5.1.2 How Significant Factors Affect the Use of TradeCard payment in Vietnam ............................................................................................................42 5.3 Managerial Implication ...........................................................................................43 5.3.1 Perceived Ease of Use .............................................................................43 5.3.2 Perceived Usefulness ..............................................................................43 5.3.3 Perceived Risk with Product/Service ......................................................44 5.3.4 Information on TradeCard Use ...............................................................44 5.3.5 Computer Anxiety...................................................................................45 5.4 Limitations and suggestion ......................................................................................46 References ................................................................................................................................47 APPENDIX A – QUESTIONARE (ENGLISH/VIETNAMESE) ..........................................49 APPENDIX B – PILOT TEST ANALYSIS ...........................................................................54 APPENDIX C – TEST OF ASSUMSION OF REGRESSION ..................................................... 56 Page v List of Tables Table 3-1 Measure of research variables for designing questionnaire………………………...17 Table 4-1 Response rate in Questionnaire Survey ...................................................................23 Table 4-2 Response rate in Questionnaire Survey among professional groups ......................23 Table 4-3 Demographic Statistics with Frequency and Percentage .......................................24 Table 4-4 Demographic Statistics with Frequency and Percentage .......................................26 Table 4-5 Reliability of the Developed Questionnaire ............................................................28 Table 4-6 Principal Component Analysis of the Developed Questionnaire ............................29 Table 4-7 Correlation Coefficients among Independent Variables under Study .....................30 Table 4-8 Regression Analysis for Information on TradeCard payment Variables Predicting Perceived Risk in the Context of Online Transaction ..............................................................31 Table 4-9 Regression Analysis for Information on TradeCard payment Variables Predicting Perceived risk with product/service .........................................................................................32 Table 4-10 Regression Analysis for Variables Predicting TradeCard payment use ...............33 Table 4-11 Hypothesis Test Summary of the Predictors Effect on Criteria ............................35 Table 4-12 Summary of the Regression Analysis for Separate City, Ha Noi and Ho Chi Minh ..................................................................................................................................................36 Table 4-13 Summary of Estimating Direct and Indirect ..........................................................38 Table 5-1 Summary of Hypothesis ...........................................................................................42 Page vi List of Figures Figure 2-1 Research Model .....................................................................................................15 Figure 3-1. Research Flowchart ..............................................................................................21 Figure 3-2. The Structure of the Method approach for this Research.....................................22 Figure 4-1 Association of the Factors in Regression Analysis Model.....................................34 Figure 4-2 Relationships in Path Analysis Model ...................................................................37 Page vii Chapter I: Introduction 1.1 Background The Internet has grown at a remarkable pace over years, while e-commerce has become important issues nowadays, especially for international trade, TradeCard payment has been becoming an indispensable payment trend in a modern society. However, the development banking system has largely been impacted by the dominance of cash in Vietnam. For many years, cash is still the “king” in Vietnam and most transactions are dominated by cash since the considerable personal consumption is done through the medium of cash up to now. For corporations in particular, this has resulted to problems of cost and delay, arising from the counting, bundling, transporting and depositing of large volumes of cash which has to be handled manually, as well as the risk and inconvenience in transactions with their fellow trader. The State Bank of Vietnam (SBV) made efforts in reducing the volume of cash payment transactions in the year 2006 by issuing non-cash-transaction project launched in 2006, and expect to finish this project on 2020 (SBV, 2008). The result is total liquidity composition in Vietnam changed significantly in a positive manner when the ratio of cash in total liquidity continued reducing to 14,6% in the year 2008 (as compared to that of 16,36% and 17,21% in 2007 and 2006 respectively) (SBV, 2008). Soon after joining WTO in the year 2004, many opportunities and threats for Vietnam economic in general and banking industry are brought up for enterprises. Vietnam has to change payment transaction behaviors to adapt the inevitable trend in the world. Recent years, many new models of business have been appeared such as e-commerce, e-business, thus, IT has to be equipped in banking system to enhance their quality of services in satisfying customer’s expectation. Since almost banks offer same services, the application of new technology in bank becomes the determinant factors deciding the success of bank in compete customer’s belief in long term resulted to many kinds of modern banking applications are now applied in Vietnamese bank. The State Bank of Vietnam has made efforts in reducing the volume of cash payment transactions by issuing non-cash-transaction project in 2006 throughout 2020. Besides, banks alliances are formed and developed quickly, TradeCard payment forms are more diversified as a standard payment term for international trading. Thereby it is time to enhance customer awareness and disseminate the TradeCard payment system in society. Page 1 There have been some previous research on e-commerce and e-banking before, but they only focus on developed countries with the advantage in IT technology. For example, researches on the adoption internet banking in European, North America, and Finland the leading countries in online banking technology and usage. Later other researchers extent in other regions including a mix of developed and developing countries are Singapore (Tan &Teo, 2000), Hong Kong (Chan & Lu, 2004; Ho & Ng, 1994). Despite a few works are done to address the electronics payment (Ho & Ng, 1994; Plouffe, Hulland & Vandenbosch, 2001), however, authors just focus on developed countries with advantage in IT knowledge. Therefore, this research will analyze the TradeCard payment in Vietnam, which is known as a developing country. Differently, this study focuses on TradeCard payment which is a typical TradeCard payment of e-commerce and e-transactions in a developing country in which IT and e-banking systems are still young. 1.2 Research Purpose, Objectives, and Research Questions The main purpose of this study is to identify adoption of TradeCard payment in Vietnam through factors influencing directly to its payment process for a developing country case as well as how the factors influencing the adoption of TradeCard payment in Vietnam. The study hopes to bring general knowledge about electronics payment transaction to Vietnamese customers by clarifying which factors are essential and critical for TradeCard payment use. Factors influencing the adoption of TradeCard payment may be the foundation of related organizations that can help them can propose programs in order to approach and serve the customers effectively. This study aims to examine the factors influencing the adoption of TradeCard payment with the these specific objectives identified as following 1. To identify significant factors that influence customer’s adoption of TradeCard payment. The corresponding research question developed was: Q1 What are main factors influencing adoption of TradeCard in Vietnam? 2. To explore how the factors affect customer’s adoption of TradeCard payment in Vietnam. The corresponding research question developed was: Q2 How do the factors influencing adoption of TradeCard in Vietnam? 1.2.1 Research Structure This research is organized into 5 chapters (ch.1) Introduction is to provide general introduction of the research, (ch.2) Literature review is a brief review of the literature on Page 2 technology acceptance model (TAM) and relevant theories, (ch.3) Research design is presented with the research model and set of research hypotheses based on the theories in the preceding section and methods used to test proposal model, (ch.4) Analysis is to discuss of data collection and analysis to support validation of relationships between variables and (ch.5) Results is the final chapter to present results of study and discussion of the implication of study followed by presenting limitations and future research recommendation. 1.3 Scope and Limitations This study aims to research the adoption of TradeCard payment in Vietnam by examining factors affecting to the tendency use of TradeCard in Vietnam. Electronics payment is a broad field but according to the specific of the context of this study, questionnaires of this study will only collected among people who have experience in using TradeCard payment over years in two big cities of Vietnam for necessary analysis. Page 3 Chapter II Literature Review According to the objectives of this study, the research tries to review and explore the TradeCard payment subject, its user acceptance in the developing country - Vietnam with technology acceptance of TradeCard payment. They include (1) Electronics commerce market and electronics payment market in Vietnam, (2) Technology Acceptance Model with details in the original model (TAM) as a factor moderator which might have significant influence on the use of TradeCard in Vietnam. In the meantime, the research questions or further hypotheses are formulated, proposed, and discussed. 1.3 Definitions of Terms The three key terms (i) Electronics banking, (ii) Electronics money, (iii) electronics payment, (iv) TradeCard payment (v) electronics payment means are identified according to several previous related studies as followings: 1.3.1 Electronics Banking Electronics banking (e-banking) technology is one of these technologies. E-banking represent technology a variety of different services, ranging from the common automatic teller machine (ATM) services and deposit direct to automatic payment bill (ABP), transfer electronics of funds (EFT), and home banking (HB) often referred to as internet banking (IB). Phone banking (PB), credit cards (CCs) and sale point-of- terminals (POS) are the other e-banking technologies. Similarly, five basic associated services with e-banking are identified by Chou and Chou (2000). These are: account view balances and transaction histories, paying bills, funds transferring between requesting card accounts, credit advances, ordering checks. 1.3.2 Electronics Money In 1993, whenever the technological development of the new payment schemes was only just beginning, EU central banks analyzed one form of what is now called electronics money, namely electronics money stored on chip cards (electronics purses). Electronics money is defined broadly as an electronics store of monetary value on a technical device that may be widely used for making payments to undertakings other than the issuer without necessarily involving bank in accounts the transaction, but acting as a prepaid bearer instrument. Electronics money might diffeence from other existing forms of money in various ways. In comparison with cash, which uses only security physical features, electronics money products Page 4 use cryptography to authenticate transactions and to protect the confidentiality and the integrity of data. Electronics money is no longer needs to be physically exchanged like banknotes and coins, and thus can be more easily used for remote payments. In addition, unlike cash, in most schemes currently available, electronics money received by the beneficiary cannot be used again. 1.3.3 Electronics Payment The payment and settlement system is an infrastructure important of the economy. A wellpayment functioning system is necessary not only to facilitate the smooth operation and stability of the payment system, but also to ensure the effectiveness of monetary policy. TradeCard payment is a subset of structure of the the overall payment system. There are several definitions about e-payment in which TradeCard payment is defined as payments made via the clearing automated house (ACH), commercial card systems (p-card, T&E cards and fleet cards) are wire transfers as electronics. The difference between a cash transaction and an electronics payment is that a TradeCard payment transaction often involves a payment channel and multi-parties, which includes payment intermediaries. Payments intermediaries are those involved in authorized payment settlement, clearing payment, and settlements (Department of Communications, Australian Government 2006). TradeCard payment services are used in Vietnam not only ATM/credit/debit cards, but also credit, transfer/direct debit, internet banking, mobile banking, phone banking, e-money and prepaid card. 1.3.4 TradeCard payment TradeCard Inc. (www.tradecard.com) developed TradeCard as a financial supply chain service. The TradeCard platform aligned the documentary and financial requirements of a domestic or international trade transaction with the physical movement of goods, eliminating time-consuming and error-prone manual processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provided a cost-effective, practical and patented service for financial supply chain management (Farhoomand, 2005). Trade payment process through TradeCard is similar other TradeCard payment services substantially besides additional services regarding to supply chain services. 1.3.5 Electronics Payment Mean Page 5 Seng (2008) defines electronics payment means of payment by an electronics method such as electronic funds transfer, electronics debit payment, electronics prepayment, electronics money, credit card, electronics bond, etc. 2.1 Electronics Commerce Market and Electronics Payment Market in Vietnam From 2002 until now, Ministry of Science and Technology with missions of state agencies management in formulating e-commerce standards has formulated, promulgated and popularized many set of standards related to e-commerce sector, including standards related to trade data interchange, electronic data interchange for administration, commerce and transport (EDIFACT), data elements and interchange formats, XML schema definition, information processing, etc… Electronic commerce in developed Vietnam was borne the hallmark of the completely legal development in the year 2007. Electronics transaction law, modified by commerce law, ecommerce decree and three newly promulgated decrees including digital signature decree and confirmation service of digital signature, e-commerce transaction decree of activities financial and e-commerce transaction decree of banking activities. All of the above decrees are legal for the e-commerce operation. However, according to Vietnam Ecommerce and Information technology agency (VECITA) in the year 2008, although ministries, industries have actively deployed technology standard establishment and popularization to serve e-commerce application establishment for State management agencies and businesses, the awareness of e-commerce common standards are still low. 43.5% of 50 surveyed agencies and businesses knew those standards, 56.5% did not. Especially, the expert percentage who knows thoroughly ecommerce standard definition on electronic data interchange only accounts for 5-6% of respondents. VECITA (2008) also show that only 10.1% of businesses apply standards to online payment according to the common development tendency of payment system via Internet. Moreover, information technology with e-commerce have been developed and applied successfully in business production activity many years. Especially, with the internet development, e-commerce trade of Vietnam businesses increased fiercely, changed information develops more and more. However, violation of personal information increases more and more, which makes individuals organization and s hesitate to use e-commerce trade. TradeCard, Inc., the supply chain collaboration and global trade platform used by more than 10,000 retailers, brands, manufacturers and service providers, has opened an office in Ho Chi Minh City to support growing trade flows in Vietnam. More than 418,000 orders, valued at Page 6 $2.7 billion, moved through Vietnam on the TradeCard Platform from January 1 through October 31, 2012, a 92% increase in order volume versus full year 2011. Using TradeCard, more than hundreds of suppliers in Vietnam processed 639 million items and 494 million cartons during this time period. (Bryan, 2012) 2.2 Theoretical Background of Technology Acceptance Model As per the technology acceptance model is a mature model that has been validated in different context (Lai & Li, 2005). This model has been applied widely to predict the acceptance of information technology and the validity has been demonstrated across a wide variety of information technology systems (Plouffe et al., 2001). Firstly, the establish model which of usage computer often used to test computer applications as computer adoption, and word processors (Davis et al.,1989), and then expanding to internet, e-mail, intranet, ecommerce, m-commerce, e-learning, adoption and Hospital Information Systems (Al-Gahtani & King, 1999; Davis, 2007; Horton et al., 2001; Kim & Han, 2008; Song, Koo, & Kim, 2007) under different situations of (e.g. time and culture) with different control factors (e.g., gender, organizational type and size). With the successful development of TAM is with the development of IT in the world and in any case, this proves model that it is the most influential and commonly theory employed for explaining and the predicting the 12 determinants of individual behavior toward a system, manifest throughout the system utilization (Chau & Hu, 2001; Thatcher & Perrewé, 2002). 2.2.1 Technology Acceptance Model (TAM) The technology acceptance model (TAM) that has been applied in different contexts to investigate a wide range of information technologies (Lai & Li, 2005). The Technology Acceptance Model (TAM) developed by Davis (1986) to explain computer usage behavior. The theoretical basis of the model was Fishbein & Ajzen’s (1975) Theory of Reasoned Action (TRA) - a widely studied model from social psychology, which is concerned with the determinants of consciously intended behaviors. This common behavior model has model widely used to predict the acceptance of information technology and the validity has been populated wide variety of information technology systems (Plouffe et al., 2001). This established model of computer usage often used initiatory to test computer model applications as computer adoption, word processors (Davis et al., 1989), and then expanding to internet, e-mail, WWW, GSS, intranet, ecommerce, m-commerce, e-learning, Cyworld adoption and adoption Hospital Information Systems (Al-Gahtani & King, 1999; Davis, Page 7 2007) under different situations (e.g. time and culture) with different control factors (e.g., gender, organizational type and size). 2.3 Factors influencing the use of TradeCard and its relationship between Model Constructs According to the theories and models in the previous research and based on objectives, scope of the research as well as the current situation in Vietnam, the study will apply the above TAM model into this research model. As well, personal innovativeness in technology is proposed to moderate the relationships between some constructs. 2.3.1 Perceived Ease of Use. (PEU) Davis (1986) affirmed that Perceived ease of use has a causal effect on Perceived useful. Perceived ease of use is defined as “the degree to which a person believes that using a particular system would be free of effort” (Davis et al., 1989). Innovative technology systems that are perceived to be easier to use and less complex will have a higher likelihood of being accepted, and used by potential user (Davis et al., 1989). Because this construct focus on an individual’s perception about the level of efforts needed to use a system, perceived ease of use can be regarded as process expectancy (Davis, 2007). 2.3.2 Perceived Usefulness (PU) With a new product or service that does not help people perform their jobs, life or it is abstract with the fact will be easily eliminated (Liao et al., 2002). There are thorough many aspects in able to evaluate the usefulness of a system. Venkatesh et al (2003) affirmed that perceived usefulness is a factor which has a strong determinant of usage intentions. Perceived usefulness (PU) is also well known as performance expectation when people think that based on advantages of innovation is necessary, IT can help them to utilize productivity and aid work performance (Davis et al, 1989; Davis, 2007). In the broad context of TradeCard payment, perceived usefulness means that the system can be available and helpful for customer at any time and any place. Thus, perceived usefulness can be considered as the comprehensive ability of customers in integrating TradeCard payment into their daily activities. In a different viewpoint, this can be explained specifically as the attention of potential adopters’ views about the innovation when different choices offered in the same abilities performance (Agarwal & Parasad, 1999). It means that, an innovative system is Page 8 believed to be high usefulness when it adapts the need of people and connects closely the use, productivity, performance, effectiveness and satisfaction (Lu, Yu, Liu & Yao, 2003). Although there are many concepts of perceived usefulness but the concept of Davis et al (1989) seems to be most applied “perceived usefulness is the degree to which mostly considered that use a system would improve his or her performance” is mostly applied in many research. 2.3.3 Perceived Risk (perceived risk in the context of online transaction (PRT) and perceived risk with product/service (PRP)). Although there are many definitions different of perceived risk in the previous study, with this definition, risk perceived is with a dimensional multiple constructed risk overall which is into seperated psychological, financial know and performance (Ho & Ng, 1994; Lu et al., 2005) or risk of personal losing control (money, data and times), risk of losing face and failure system (Zhao, Hanmer-Lloyd, 2008). Besides, risky normally rises from individual subjective perspective (Pavlou, 2003), he strongly agree that risky is too difficult to be captured objectively. No anyone can refuse the role of risk in the decision to adopt new technology system. Especially, can help them risky perspective can easily escalate in ebanking services in which clients process transaction with no face to face personal contact, no cash in hand. However, customers want generally to master their acts own and know or see directly the cause and the consequences of their own and others (Chan & Lu, 2004). Advantages of electronics payment can help them reduce stages distance of payment transaction, but customers are still not willing to accept that they do not have full control over their own behaviors and system process (Pikkarainen et al., 2004). The perceived risk regarding TradeCard payment use can be considered involved in two concerns: information and customer’s money transmitted via the system is safe, and the system is enough trustworthy in handling customer information and managing their financial assets (Lee et al., 2005). Whenever using relative system, customers always face up with personal information being stolen, manipulated or misused without their knowledge perception (Featherman et al., 2006). If these are happened, it is believed that they will lose control of personal data, and more importantly, consumers fear that their details may be used inappropriately. As a result, issues of security and privacy are definitely important items of perceived risk in context of online transaction (Jaruwachirathanakul & Fink, 2005; Mukherjee & Nath, 2003; Polatogu & Ekin, 2001; Wang et al., 2003). Page 9 In the scope of this research, the adoption concept of Park and his assistants, in which perceived risk consists of perceived risk in the context of online transaction (PRT) and perceived risk with product/service (PRP) which is to explain TradeCard payment adoption by Vietnamese people wholly. They define perceived risk in the context of online transaction (PRT) as a possible transaction risk that consumers can face when exposed to electronics means of doing commerce. Four types of PRT are clearly identified as follows: privacy, security (authentication), nonrepudiation, and overall perceived risk on online transaction. They also define perceived risk with product/service (PRP) as the overall amount of uncertainty or anxiety perceived by a consumer in a particular product/service when the consumer purchase online. Five types of PRP are defined as follows: functional loss, financial loss, time loss, opportunity loss, and overall perceived risk with product/service. 2.3.4 Information of TradeCard payment (IF) The information which customers have about its products improved likely as one of the key factor which is influencing directly to the new product adoption, services especially for information of new applied technology system in banking services (Pikkarainen et al., 2004), the finding information is the process in which consumers gather information about goods or services before purchase or use it. When start using a new system, customer maybe at an early stage in learning and processing, hence, customer often looks for information involved in it (Pikkarainen et al., 2004). Information about new products or services can be the information about the bank which supplies TradeCard payment forms, the disadvantages advantages of TradeCard payment, information about the feature, benefits or operation of the systems, and even information involved in the amount of customers trust in using this system and so on. TradeCard payment is a special service because it offers a virtual and sensitive service involved in customer’s finance and involved in applying high and new technology. The concept information also refers to information technology of the product. So information can be defined as TradeCard payment experiences, which are the consumer’s skills or ability obtained by using the services/products or study from any resources including the knowledge transfer (Nysveen & Pedersen, 2004). 2.3.5 Computer Anxiety (CA) Page 10 Anxiety has been defined and described in several previous studies. These studies suggest that general anxiety can cause an individual to be reluctant to undertake specific activities, or to not perform to their capabilities. Computer anxiety commonly refers to the feeling of unease or apprehension about the consequences of using computers, or other related information technology. Howard & Smith (1988) defined computer anxiety as the tendency of a person who experiences a level of difficulty to his or her impending use of a computer while Igbaria (1990) defined computer anxiety as the comprehensive tendency of individuals who is to be uneasy, apprehensive or fearful about current or future use of computer. In another research, computer anxiety is defined as a feeling of being fearful or apprehensive when using or considering the use of a computer by Leso and Peck (1992). Previous studies related to computer anxiety have investigated the effect this trait can have on topics such as perceived ease of use, computer usage, computer self-efficacy and the development or utilization of computing skills. Typically, these studies have found that computer anxiety has a negative relationship on these outcomes; i.e. higher levels of computer anxiety leads to lower levels of usage, lower computer self-efficacy, slower development of computing skills, and the perception that software is difficult to use. During this research a particular focus is placed on the role of an individual’s expectations of success and the influences of these expectations on their approach to computer use in TradeCard payment use. 2.3.6 TradeCard payment Use TradeCard payment is a subset of structure of the overall payment system. TradeCard payment is thus defined by BIS (2004) as “payments that are initiated, processed and received electronicsally.” E-payment services can be retail, corporate and wholesale TradeCard payments (Tan 2004). The difference between a cash transaction and an electronics payment is that a TradeCard payment transaction often involves a payment channel and multi-parties, which includes payment intermediaries. Payment intermediaries are those involved in payment authorization, payment clearing and settlements (Department of Communications, Australian Government 2006). Usage of electronic payment is indicated as attitude toward, which is referred to the feeling of person’s toward a particular behavior being influenced by individual beliefs in using appropriate services (Shih & Fang, 2004). Based on the level development of the country and the state of the banking system, the degree to which e-payment use is differ (O'mahony et al., 2001). When mention to electronics payment, many Vietnamese customers immediately think about ATM, credit or debit cards. Page 11 But TradeCard payment services are used in Vietnam are credit, transfer/direct debit, internet banking. Attitude is individual’s feeling or emotion about using (Al-Gahtani & King,1999), so people seems more believe in habit than machines, visible action than invisible method. This study applies the definition of Shin and Fang (2004) as the main concept of TradeCard payment use. 2.3.7 The Relationship among Perceived Usefulness (PU), Perceived Ease of Use (PEU) and TradeCard payment Use (TPU) According to the Technology Acceptance Model (TAM), perceived ease of use (PEU) is related to perceived usefulness (PU). Two factors have been studied as key determinants of technology acceptance and usage (Davis, 2000), which have been generally linked to the usage of technologies both in directly and indirectly. With the new developed technologies it is easier to use, more sufficient and to be interested by customers because they can satisfy standard life, education, and age. Most of previous researches also demonstrated the influence of each other of education, life and age constructs. Davis defined PU as the degree to which a person believes that using a particular system would enhance his or her job performance (Davis, 1989). Prior researches indicated that PU is an important indicator for technology acceptance (Davis, Bagozzi & Warshaw 1989). In another research also showed that PU has the greatest impact on new system use. PEU is defined as the degree to which a person believes that using a particular system would be free of effort (Davis, 1989). Several prior studies proved that PEU has a direct and equal or even strong effect than PU on the acceptance toward a new technology system. Hence an application perceived to be easier to use than another is more likely to be accepted by users than others. By applying these prior researches, the following hypotheses were proposed: H1: Perceived ease of use (PEU) has a positive effect on TradeCard use (EPU) in Vietnam. H2: Perceived usefulness (PU) has a positive effect on TradeCard use (EPU) in Vietnam. 2.3.8 Perceived Risk (PR) and TradeCard payment Use (TPU) Costello (2001) in his study reflected that when customers who are uncertain of the systems and the services of banking, they may worry about an intangible payment in which provides a service of non-face-to-face-contact and physical service payment with potential financial risk and perceived threats to privacy and security. In the research, the invisibility nature of Page 12