Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam
This research adopted Multinomial Logit Regression to investigate factors that influence users’ choice of e-wallets and how these elements affect the probability of current e-wallet usage, suggesting that each service is preferred by different user groups based on demographic and behavioural traits....
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| Format: | Article |
| Language: | English |
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HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE
2024-05-01
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| Series: | Ho Chi Minh City Open University Journal of Science - Economics and Business Administration |
| Subjects: | |
| Online Access: | https://journalofscience.ou.edu.vn/index.php/econ-en/article/view/2945 |
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| _version_ | 1850190298437648384 |
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| author | Ngan Thi Thuy Nguyen Khe Son Tran |
| author_facet | Ngan Thi Thuy Nguyen Khe Son Tran |
| author_sort | Ngan Thi Thuy Nguyen |
| collection | DOAJ |
| description | This research adopted Multinomial Logit Regression to investigate factors that influence users’ choice of e-wallets and how these elements affect the probability of current e-wallet usage, suggesting that each service is preferred by different user groups based on demographic and behavioural traits. This paper employed a quantitative approach using a face-to-face survey of 140 respondents using e-wallets in Can Tho City, Vietnam. This study has identified the user characteristics of the top three e-wallet services in Can Tho City, Vietnam, suggesting that each service has unique features that attract different user groups. People with lower incomes, who frequently use e-wallets and engage in smaller transactions, prefer the MoMo e-wallet, which has emerged as the market leader. On the other hand, ZaloPay attracted men with higher incomes, while older individuals with higher spending patterns who used Agribank or MBBank preferred Other e-wallets. E-wallet service providers could identify their target audience through the research findings and then work on developing both existing and new features that align with the needs of those potential users, all aimed at boosting loyalty and expanding user density. However, a more extensive and diverse sample is required to provide a more reliable and comprehensive understanding. |
| format | Article |
| id | doaj-art-4ed0a3e80cf04cc1847b1e8be094ecfb |
| institution | OA Journals |
| issn | 2734-9314 2734-9586 |
| language | English |
| publishDate | 2024-05-01 |
| publisher | HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE |
| record_format | Article |
| series | Ho Chi Minh City Open University Journal of Science - Economics and Business Administration |
| spelling | doaj-art-4ed0a3e80cf04cc1847b1e8be094ecfb2025-08-20T02:15:19ZengHO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCEHo Chi Minh City Open University Journal of Science - Economics and Business Administration2734-93142734-95862024-05-0115217018410.46223/HCMCOUJS.econ.en.15.2.2945.20252082Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, VietnamNgan Thi Thuy Nguyen0Khe Son Tran1Can Tho University, Can ThoCan Tho University, Can ThoThis research adopted Multinomial Logit Regression to investigate factors that influence users’ choice of e-wallets and how these elements affect the probability of current e-wallet usage, suggesting that each service is preferred by different user groups based on demographic and behavioural traits. This paper employed a quantitative approach using a face-to-face survey of 140 respondents using e-wallets in Can Tho City, Vietnam. This study has identified the user characteristics of the top three e-wallet services in Can Tho City, Vietnam, suggesting that each service has unique features that attract different user groups. People with lower incomes, who frequently use e-wallets and engage in smaller transactions, prefer the MoMo e-wallet, which has emerged as the market leader. On the other hand, ZaloPay attracted men with higher incomes, while older individuals with higher spending patterns who used Agribank or MBBank preferred Other e-wallets. E-wallet service providers could identify their target audience through the research findings and then work on developing both existing and new features that align with the needs of those potential users, all aimed at boosting loyalty and expanding user density. However, a more extensive and diverse sample is required to provide a more reliable and comprehensive understanding.https://journalofscience.ou.edu.vn/index.php/econ-en/article/view/2945can tho citye-walletmultinomial logit regressionnon-cash paymentprimary preference |
| spellingShingle | Ngan Thi Thuy Nguyen Khe Son Tran Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam Ho Chi Minh City Open University Journal of Science - Economics and Business Administration can tho city e-wallet multinomial logit regression non-cash payment primary preference |
| title | Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam |
| title_full | Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam |
| title_fullStr | Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam |
| title_full_unstemmed | Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam |
| title_short | Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam |
| title_sort | multinomial logit regression adoption identifying user characteristics of e wallets in can tho city vietnam |
| topic | can tho city e-wallet multinomial logit regression non-cash payment primary preference |
| url | https://journalofscience.ou.edu.vn/index.php/econ-en/article/view/2945 |
| work_keys_str_mv | AT nganthithuynguyen multinomiallogitregressionadoptionidentifyingusercharacteristicsofewalletsincanthocityvietnam AT khesontran multinomiallogitregressionadoptionidentifyingusercharacteristicsofewalletsincanthocityvietnam |