Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 1 www.globalbizresearch.org An Analysis of Factors Affecting the Intention to UseMobile Payment Services in Vietnam

Pham Tan Tai, Department of Information and Management, Lunghwa University of Science and Technology, Taiwan. E-mail: genjitantai89@gmail.com Gia-Shie Liu, Department of Information and Management, Lunghwa University of Science and Technology, Taiwan. E-mail: liugtw@yahoo.com.tw ___________________________________________________________________________________ Abstract Thegoalofthispaperistospotoutfactorsaffectingtheintentiontousemobilepayment serviceplaninVietnam.Thisstudyattemptstoanalyzetheimpactofvariousvariables extractedfromMobility,Convenience,Compatibility,M-paymentknowledge,Easetouse, Usefulness,Risk,Trust,SafetouseonIntentiontousemobilepayment.Quantitative questionnaireisusetomeasureresponsesofparticipants.Thestatisticalanalysismethod employed in this study is to apply Structural Equation Modeling (SEM) to test all hypotheses. The results indicate that the strong predictors of the intention to use m-payment are perceived ease of use and perceived usefulness. All respondents showed that they do not care about risk whentheyhaveintentiontousemobilepaymentservices.Mobility,Convenience, Compatibility,and Mobile payment knowledgehaveimpactsonEasetouse andUsefulness. Among of them, Compatibility has the most significant impact on Ease to use and Usefulness in the opinion of those surveyed.At the end of this paper, a set of suggestions is outline to be investigated in the subsequent research works. ___________________________________________________________________________ Keyword:Mobilepayment,Mobility,Convenience,Compatibility,M-paymentknowledge, Ease to use, Usefulness, Risk, Trust, Safe to use, Intention to use, Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 2 www.globalbizresearch.org 1. Introduction Theexplosivegrowthofelectronicpaymentrequirements,especiallytomentionthe contributionsoftheinternetasakeytradechannelsandextremelyexcitingpotentialpower buthasnotyetbeenfullyexploited.Consumerspreviouslyareunfamiliarwiththeinternet andonlytreatitasameansofgatheringinformation.But,nowconsumersaregradually acceptthischannelforpurchasingdecisionsandtheirtransactions.Theincreasingof customers needs in mobility when payment for transaction has created requirement for a new paymenttoolallowingthetransactionsmorefeasibleandconvenient(OndrusandPigneur, 2006).Thecurrentpaymentmethodgivesconsumerssolvencythatisbeneficialindealing withmediumandlargeamountofmoney. Itisinconvenientforcustomersinsmall denominationsofcoinsorpennieswhenmakingmicropayments. Moreover,consumersmustpayhighcostsformicropaymentswhenusingexistingpayment services(Mallatetal.,2004).Somobilepaymentshasbeenproposedasanewservicetool provided for micropaymentsin e-commerce and mobile phone creates a certain advantage to customerswhentheyhaveaneedforsmalltransactions(MenkeanddeLussanet,2006; Ondrus and Pigneur, 2006). Mobile phone was found to be the means of payment that opens new development opportunities for the mobile payment parties and participants.Mobile payment is defined as a transaction method which money is transferred from one persontoanotherthroughamobiledevicewithoutintermediate.Themostcommonwayto conduct transactions by mobile phone service is to send messages with predefined structure to theobjecttobetraded(Menke&deLussanet,2006).Paymentsforgoodsandservicesare thenchargeto thecustomersmobilephonebillor deducted fromprepaidairtimeofprepay subscribers.Insteadofusingamessagetothetransactionwhenusingtheoldtechnologyof cell phone, the advent of smart phones provide a payment method by mobile phonethrough internet connection of smart phone.Researchaboutfactorsaffectingusersintentiontousemobilepaymentisconsidered interesting to researchers and practitioners, because financial institutions, trusted third parties, payment service providers, and system software and supporting service providers can benefit greatlyfromenhancedunderstandingofthekeyfactorsunderlyingmobileusersintention (Dahlbergetal,2003a;Dahlbergetal,2003b;Lim,2007;Ondrus&Pigneur,2006). Moreover,differentusergroupsmayperceivem-paymentadvantagesdifferentlyandadopt newpaymenttechnologiesaccordingly.Thereisaneedtounderstandtheuser-grouplevel behavior, but there is little attempt to fill a gap in the user-group level research. In light of the currentstateoftheexistingresearchonm-payment,theobjectiveofthisstudyisto empirically access the determinants of the intention to use m-payment. In order to achieve this objective,weproposearesearchmodelthatconsistsof6independentvariables(Mobility, Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 3 www.globalbizresearch.org Compatibility, Mobile payment knowledge, Convenience, Trust, Risk), three belief variables (Easetouse,Usefulness,Safetouse),andoneuseracceptancevariable.Wealsouse6 controlvariables(gender,maritalstatus,occupation,location,income,age)toanalyzethe impact on the dependent variable. With the above rationale, this study targets at the following question: What factors affect a users intention to use mobile payment?2. Literature Review and Hypotheses Proposal 2.1 TAM model Many models have been used in previous studies about consumers behavior in using new technologies.Amongofthem,heTAM(TechnologyAcceptanceTheories)emergedasthe most influential model than the remaining models such as (TRA, TPB, UTAUT) (Davis et al. 1989).TAMmodelproposedtwovariablesinfluencingconsumersintentiontoapplynew tools; they are perceived ease of using and perceived usefulness. The two variables that TAM modelproposedarealsotheleadingfactorstomeasureconsumersattitudetowardnew technologies;therefore,TAMshouldbeconsideredasausefulmodeltostudyconsumers reactions and behaviors when a new product is launched.2.2 Mobility Mobilityisdeterminantusedtomeasurethedegreetowhichanindividualperceives receivedbenefitsinthecontextoftime,space,andservicesaccess.Oneoftheimportant elements of mobile technology is portability. It is a big advantage of mobile payment services toprovideconsumerstheabilitytousetheserviceswherevertheywantandtheycan comparingtotraditionalpaymentmethods(Ambergetal.2004).Thenewmobilepayment method is flexible to use regardless of time and space and has a great fit in today mobile and active lifestyle. It allows customers to access into the services through a wireless network and a range of mobile devices including smart phones (Au & Kauffman, 2008). By using the new payment tool, customers can actually buy a product without the need of traveling to the store; all they need are to be in an internet-covered region and a cell phone (Ding et al. 2004). In the conventional electronic commerce, in which transactions are conducted regularly via wireless internet,mobilepaymentistheservicetoallowuserstoaccessinformationaccuratelyand effectivelyatanylocation,regardlesscountingtime(Anckar&D'Incau,2002;May,2001). Therefore,weproposemobilityaffectsperceivedeaseofuseandusefulnessofmobile payment services. H1a: Mobility positively affects ease to use of mobile payment in Vietnam. H1b: Mobility positively affects usefulness of mobile payment in Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 4 www.globalbizresearch.org 2.3. Convenience Convenienceistheeaseandthecomfortofuseaswellastheattainmentofconcrete benefitsthroughtheusedrivenfromportabilityandimmediateaccessibility(Sharma& Gutirrez,2010).Perceivedconveniencecanbedefineasagility,accessibility,and availability of a service, which is flexible in time and location. Convenience has been pointed outtobeabenefitofusingmobilecomputing;itisoneofdeterminantsofthesuccessof mobilepaymentservices(Xu&Gutierrez,2006).Theconvenienceofthenewtooloffers users space, time and access speed; it helps consumers use the service more easily, and it also improves the performance of payments (Clarke, 2001). In addition, mobile payment services offerconsumerstheabilitytointegratethemoderntechnologywiththetraditionalpayment methodsviamobiledevice.Consumerscanutilizetheavailabilityofthemethodinall situationstoreducethepressureoftime(Mallatetal.2006).Inthecontextofsmall transactions,mobilepaymentserviceshelpconsumersreducetransactioncost;italsohelps them eliminate the inconvenience of coins and currency. For the reasons above, we, therefore, proposethatconvenienceaffectsperceivedeaseofuseandusefulnessofmobilepayment services. H2a: Convenience positively affects ease to use of mobile payment in Vietnam H2b: Convenience positively affects usefulness of mobile payment in Vietnam 2.4 Compatibility Foranewserviceasmobilepayment,consumersabilitytointegrateitintotheir shopping habits and daily lifestyle is an important element; it is one of the determinants of the success of mobile payment services (Teo & Pok, 2003). Compatibility isthe combination of thevaluesofinnovation,thepotentialandavailablevalues;itisalsotheintegrationand effectiveoperationofnewtechnologiestoenhancejobperformance(Leeetal.2003). Compatibilityisafactorrelatingtoinnovationadoptedformobilepaymentservices, interoperability of mobileservices with user needs and lifestyle,andability to try out a new service; it raises the awareness of usefulness to customers when using the service (Ding et al, 2004 ; Mallat, 2004). In addition, customers expectations about the possibility of completing the work easier make compatibility a considerable factor that affects the perceived ease of use (Tornatzky & Klein, 1982). Thus, we propose that compatibility affects perceived ease of use and usefulness of mobile payment services. H3a: Compatibility positively affects ease to use of mobile payment in Vietnam H3b: Compatibility positively affects usefulness of mobile payment in Vietnam 2.5 Mobile payment knowledge Customerknowledgerelatestotheirunderstandings,needs,desiresandgoalswhenthey usemobilepayments.SchreierandPrgl(2008)foundthatuserswithhighlevelof Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 5 www.globalbizresearch.org knowledge in an innovation tend to be ahead of its market trend and expect high benefits from innovation,andthoseuserswouldadoptnewcommercialproductsfasterandmore intensively than ordinary ones. Marcketti and Shelley (2009) also pointed out that consumers knowledgeofproductshasasignificantlypositiveeffectontheirperceivedeasetouse. Customer knowledge can help them identify what mobile payment can do for them, and why the products/services are important to them.Furthermore,customerswill consider what they willgainfromthetoolscomparingwithwhattheyarehavingatthetimeregardingthe services quality, prices, insurance of privacy, etc. Customers will use mobile payments easily and efficiently if customers have a high level of knowledge about the tool they are conducting formobilepayments.Thus,weproposethatmobilepaymentknowledgeaffectsperceived ease of use of mobile payment services. H4: MP knowledge positively affects ease to use of mobile payment in Vietnam 2.6 Trust Customertrustisasubstantiallyimportantfactorforthesuccessofnewservicesas mobile payment services. Trust is the willingness of individuals to take risks with desire that theirneedswillbemet.Itisthepossibilitythatonepartywillperformtheirdutiesinan honestmannerconsistentwiththeexpectationsofthepartytrust(Kimetal,2009).The transactionsconductedthroughamobilenetworkarevulnerableandmoreuncertainthan traditionalsettings,thusentailgreaterpotentialrisk.Trustinthepaymentsystemwillhelp reduce the need to understand, control, and monitor activities, thereby allowing customers to use services easily and efficiently without much effort in translation of online service (Mu et al., 2010). Customers have a high confidence level for the mobile payment services will feel the honesty and reliability of the service providers; it will make customers increase the intent touseservice(Gefenetal.2003).Besides,whilemakingatransaction,theconsumeris paying for the services they want. During that process, they expect their personal information must be guaranteed and not shared with any inappropriate parties (Zhou, 2011). Therefore, we propose that trust affects the safety of using mobile payment services. H5: Trust positively affects safe to use of mobile payment in Vietnam 2.7 Risk Formobile payment systems,theresearch materials beforehavestressed the importance ofriskperception;thisistheconcernofconsumerswhenusinganewservice,andisan obstacle for the development of mobile payment services, (Dan & Jing, 2011). Risk is defined asthelackofsecurityduringpayingprocessduetounexpectederrorsortransactionsmade without honesty between the buyer and the seller (Havlena and DeSarbo, 1991). Risk is also regardedasthelossofinformationleadingtofinanciallossesduetothedisturbinghacker (Ganesan,1994);theriskistheunexpected,unintended,andundesiredloss(Pavlou,2003). Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 6 www.globalbizresearch.org Theevaluationofriskleveliscalculatedbythelevelatwhichanindividualexpectsa possiblenegativeresultsorerrorswhenatransactionisbeingproceeded(Peter&Tarpey, 1975).Inthecontextofmobiletechnology,riskisexpectedandacceptable;itiswhat customers have to take at a certain level of danger when trying a new service (Sweeney et al. 1999).Mobilepaymentisaformofonlinetransactions.Itwillincludethosetransactions occurringbetweenindividualsunknowntoeachotherwhichincreasetheriskoffinancial loss,andtheuncertaintyabouttheidentityorthequalityofproducts.Withoutappropriate measures,thefaultytransactionthatispossiblyoccurredmayresultinunwantedlossfor customersandpotentiallargercostsforproviders(Neumann,1997).Thus,weproposethat risk affects safe to use of mobile payment services. H6: Risk positively affects safe to use of mobile payment in Vietnam 2.8 Ease to use For the contemporary service as mobile payment, one thing that customers will certainly question is whether or not it is easy to use; this is a significantly important factor affecting the intention to use mobilepayment services of customers (Moore& Benbasat, 1991).Theease to use is defined as the level at which users would believe that using a new service is simple, easy, and effortless (Davis, 1989). Perceived ease to use refers to the clear and understandable interactionthatusersexperiencewiththenewsystem,anditisalsoabouthowcomfortable theyfeelwhenusingthesystemtodowhattheywant(Ndubisietal.,2003).Theoretically, theeaseofuseisperceivedwhenacustomerfeelthenewinventionisnotdifficultto understand, to learn and to use (Rogers, 1962). For this reason, ease of use is considered to be oneoftheimportantfactorsaffectingtheacceptanceanduseofthenewtechnologiesby users.Inaddition,perceivedeaseofuseisproposedtobeanantecedentoftheperceived usefulness(Davisetal.,1989).Consumerseasilyusingtheservicewillgeneratethehigh-performedresults,andtheycansimplyintegratemanynewapplicationsofnewservicesin their daily life activities. Thus, we propose two hypotheses: H7a: Ease to use positively affects intention to use mobile payment in Vietnam H7b: Ease to use positively affects usefulness of mobile payment in Vietnam 2.9 Usefulness Besidetheeaseofuse,customerswillbeconcernedabouttheusefulnessofthenew serviceswhichisalsoa crucialfactor in determining thecustomers adaption to thechange, thususefulnessisoneofthedeterminantsoftheintentiontousenewservicesasmobile paymentservicesbycustomers(VenkateshandDavis,2000).Usefulnessisdefinedas customerfeelingaboutthepotentialityofanewservicetoprovidemanybenefitsforthem and to help improve their job performance when using the service (Mathwick et al., 2001). It willmeasurethewillingnesstoadaptsomethingnewcomparedtotraditionalvaluesofthe Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 7 www.globalbizresearch.org customers (Tan and Teo, 2000). Likewise, the behavior of the users will be determined by the perception of a higher level of benefits achieved when using the service (Adams et al. 1992). AwamiehR.&Fernandes,C(2006)addedthatusefulnessmakestheuserfeelmore advantages from new services. Therefore, we propose that usefulness affects intention to use mobile payment services. H8: Usefulness positively affects intention to use mobile payment in Vietnam 2.10 Safe to use Besides ease of use and perceived usefulness, with new services such as mobile payment services,customerswilldefinitelybeconcernedaboutthesafetyissueswhentheyhave intentiontousetheservice;itbecomesanindispensableelementforthesuccessofmobile payment services (Gefen et al. 2003). According to Egger (2001), perceived safe to use is the trustinanypaymentsystemthatensuresusersinformationtobeconfidentialandsecured with high levels. It is also about the amount of control that users have and the reliable level of providers.Customershaveto believethat the transaction will becompletedas expectedand anydatawillnotbesharedwithpartiesnotfit(ChellappaandPavlou,2002).Safetyof customers information is very important for all businesses to serve clients; customers need to feel safe when making a purchase and wait for the completion of transactions with no worry. Thesignificanceofcustomersafetyingeneralagainste-commerceande-bankingin particularandisthecriticalfactorwhentherisklevelofeconomictransactionsinavirtual environmentishigherthaninthetraditionalenvironment(Grabner-Kr.auteraandKaluscha, 2003).Safetousenotonlyhasbeenfoundtobeaprerequisitefore-bankingenvironment (KassimandAbdulla,2006),italsoaffectstheintentiontousemobilepaymentservicesof customers(SuhandHan,2002).Therefore,theperceivedsecuritycanincreasenumberof customers to maketransactions in anonline environment. When userstrust thesafety of the service,theywillcomfortablyenjoythebenefitsthatservicesprovide.Thus,safetouse significantlyaffectscustomerwhenusingelectronicbankingservices(AlsajjanandDennis, 2006). Therefore, we propose two hypotheses: H9: Safe to use positively affects usefulness of mobile payment in Vietnam H10: Safe to use positively affects intention to use mobile payment in Vietnam 3. Research Method 3.1 Data Afterreviewingpreviousliterature,researcherselected9factorsthatwerefoundto significantlyaffectintentiontousemobilepayment.Thesurveyisconstitutedby34item statementsthatrepresent10variables;6controlvariablequestionsaredesignedfor demographicalprofilesofrespondents.Thesurveywasconductedoverthecourseof16 weeks throughschools, universities, companies, my friends and my family as well as e-mail Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 8 www.globalbizresearch.org surveys from December, 2014 to April, 2015.Quantitative measure, in conjunction with five-point Likert scale (1= total disagree to 5= total agree), is used to measure responses/ rating of participants to all survey items. The sample size is 604 respondents. StatisticalPackagesforSocialSciences(SPSS)andAmossoftwareisusedforthedata analysis.Setofstatisticaldataanalysismethodsincludedescriptiveanalysis,reliability analysis,EFA(ExploratoryFactorAnalysis),CFA(ConfirmatoryFactorAnalysis) ,SEM(Structural equation modeling)and Anova. 3.2 Research model and hypothesis After test the model was proposed with 90 samples and 4 rounds EFA (Exploratory factor analysis),theresulthasshowedthatMobilityandConveniencecanbecombinedintoone factor, Safe and Trust also can be combined into one factor, Risk factor were deleted. So the proposalmodelofthisstudywillmoveintotheresearchmodelwith7factor (Mobi_Convenience,Compatibility,Mobilepaymentknowledge,Trust_Safetouse,Easeto use, Usefulness and Intention to use). Figure 1:The research model with hypotheses Modifyingthehypothesisproposedintheaboveliteraturereview,thereare10new research hypothesis of the research model. H1: Mobile-Convenience positively affects Ease to use of mobile payment in Vietnam. H2: Mobile-Convenience positively affects Usefulness of mobile payment in Vietnam. H3: Compatibility positively affects Ease to use of mobile payment in Vietnam. H4: Compatibility positively affects Usefulness of mobile payment in Vietnam. H5: MP-Knowledge positively affects Ease to use of mobile payment in Vietnam. H6: Trust-Safe to use positively affects Intention to use mobile payment in Vietnam. H7: Trust-Safe to use positively affects Usefulness of mobile payment in Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 9 www.globalbizresearch.org H8: Ease to use positively affects Usefulness of mobile payment in Vietnam. H9: Ease to use positively affects Intention to use mobile payment in Vietnam. H10: Usefulness positively affects Intention to use mobile payment in Vietnam. 4. Results and Discussion 4.1 Descriptive Statistics for demographics Atotalnumberof604responseswereusedintheanalysis.Aboutgender,males(55%) dominated over females (45%). About marital, 52.2% is single and 47.8% is married. In terms ofage,20to30yearsoldconstitutethemajority,at40.9%,whereas30to40yearsold constitute34.8%oftherespondents.Concerningprofession,therespondentsareroughly evenly distributed. With income, 37.9% of respondents earn about 8 millions of VND, 29.6% earnabout5to8millionsofVNDand32.5%earnabout3to5millionsofVND. Respondentsresidingincityconstituteapproximately56.1%,whereasthoselivingin countryside constitute 43.9% of the total respondents. 4.2 Reliability measures ThedescriptivestatisticsandCronbachscoefficientofthissurveywereshowedin Table1below. The Cronbachswas calculated to test thereliability of thequestionnaires. Thereliabilityofthissurveywastestedfor7factorbasedonframeworkstructureofthis study. Table 1: The Cronbachs Coefficient VariableCronbachs AlphaN of Item Mobile-Convenience.9637 Compatibility.9233 Mobile payment knowledge.8823 Trust-Safe to use.8986 Ease to use.9164 Usefulness.9553 Intention to use.8994 All variables.93530 Firstofall,thereliabilityofbrandequitydimensionswillbetested.Hair et al. (1998)presentedtheCronbachsshouldbehigherthan0.7;thismeansthatithashigh reliability (Cronbach, 1971; Nunnally, 1978).According to results of Table 1, the reliability ofallvariablesinthisstudyis.935,whichissohigh,thusitcanbeconcludesthatthe questionnairehasahighinternalconsistency.Moreover,CronbachsofMobilepayment knowledge,Trust-Safetouse,Intentiontouseare0.882,0.898,and0.899.Thatmeansthe measurements of these 3 factors are slightly high in reliability and the questionnaire has high internal consistency. Finally, Cronbachs of Mobi-Convenience, Compatibility, Ease to use, and Usefulness are especially high reliability of 0.963, 0.923, 0.916, and 0.955, respectively. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 10 www.globalbizresearch.org 4.3 The results of factor analysis In this research,EFAisappliedtotestthemodelwithKaiser-Meyer-Olkin(KMO) andBartlettstestbyusingthePrincipalAxisFactoringwithPromaxrotation.KMOisan index used to examine the appropriateness of factor analysis. High valuesof KMO (between 0.5and1.0)andBartlettstestwithstatisticalsignificancelevellessthan0.05indicatethe factor analysis is appropriate. In other words, values below 0.5 imply that factor analysis may notbeappropriate(Gerbing&Anderson,1988;Rietveld&VanHout1993;Field,2000). Gerbing&Anderson(1988)insiststhatPrincipal-AxisFactoringisrelativelyequalintheir capacitiestoextractthecorrectmodelandismorecommonlyreportedinsocialand behavioralscienceresearchreportsthanPrincipalcomponentswithVarimaxrotation.To ensurethepracticalsignificanceofEFA,FactorLoadingshouldbeequal orhigherthan0.5 (Hair et al., 1998), and Total Variance Explainedmust be over 50% (Gerbing & Andension, 1998). In this research, the factor analysis process with KMO is about .921 (>0.5), Bartletts test with statistical significance level of .000, which are showed in Table 2. Furthermore, Table 3 shows that Total Variance Explained is over 74% (>50%), which prove the appropriateness of factor analysis. Table 2: KMO and Bartlett's Test of Sphericity Kaiser-Meyer-Olkin Measure of Sampling Adequacy..921 Bartlett's Test of SphericityApprox. Chi-Square16128.428 Df435 Sig..000 Table 3: Total Variance Explained Factor Initial EigenvaluesExtraction Sums of Squared Loadings Rotation Sums of Squared Loadingsa Total% of VarianceCumulative %Total% of VarianceCumulative %Total 110.80236.00836.00810.56835.22835.2287.426 23.87612.91948.9273.66412.21347.4414.987 33.25910.86459.7912.9259.75157.1926.509 42.0136.71066.5021.7695.89663.0886.199 51.5975.32271.8231.3614.53767.6256.166 61.3144.38076.2041.1283.76171.3865.985 71.1123.70579.909.8922.97374.3595.460 8.5211.73881.647 9.5091.69583.342 10.4691.56484.906 11.4461.48786.393 12.3751.25187.644 13.3701.23488.878 Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 11 www.globalbizresearch.org Table 4: Pattern matrix of variables Factor 1234567 Mobi_Conven6.941Mobi_Conven3.921Mobi_Conven7.920Mobi_Conven5.906Mobi_Conven4.883Mobi_Conven2.859Mobi_Conven1.793Trust_Safe5 .901 Trust_Safe6 .857 Trust_Safe2 .741 Trust_Safe1 .721 Trust_Safe3 .716 Trust_Safe4 .677 Easetouse2.924Easetouse4.881Easetouse3.861Easetouse1.689Intention4 1.020 Intention3 .780 Intention2 .768 Intention1 .720 Usefulness2.945Usefulness1.943Usefulness3.900Compatibility2 .937 Compatibility1 .878 Compatibility3 .846 Knowledge1.919 Knowledge2.793 14.3391.13190.008 15.294.98190.989 16.290.96591.954 17.255.85192.805 18.249.82893.634 19.240.79894.432 20.232.77395.205 21.203.67695.881 22.180.59896.480 23.170.56897.047 24.155.51797.564 25.141.46898.033 26.135.45198.484 27.133.44298.927 28.122.40699.332 29.107.35899.690 30.093.310100.000 Extraction Method: Principal Axis Factoring. a. When factors are correlated, sums of squared loadings cannot be added to obtain a total variance. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference) ISBN: 978-1-63415-833-6 Danang-Vietnam, 10-12 July, 2015 Paper ID: V574 12 www.globalbizresearch.org Knowledge3.776 Extraction Method: Principal Axis Factoring.Rotation Method: Promax with Kaiser Normalization Rotation converged in 6 iterations. According to Table 4, the factor analysis has pulled out 7 major factors from 30 variables whereasthenumberoffactorsintheinitialresearchmodelis10.Twofactorsincluding MobilityandConvenience aregroupintoacomponentand thenewcomponentisnamedas Mobi_ConveniencewhichincludesMobi_Conven1,Mobi_Conven2,Mobi_Conven3, Mobi_Conven4, Mobi_Conven5, Mobi_Conven6 and Mobi_Conven7. Two factors including TrustandSafetousearegroupintoacomponentandthenewcomponentisnamedas Trust_SafetousethatincludesTrust_Safe1,Trust_Safe2,Trust_Safe3,Trust_Safe4, Trust_Safe5 and Trust_Safe6. Table4alsoshowsthatitemsof5remainingfactorswhicharealternatively Compatibility (Compatibility1, Compatibility2, Compatibility3),Mobile payment knowledge (Knowledge1, Knowledge2, Knowledge3), Ease to use (Easetouse1, Easetouse2, Easetouse3, Easetouse4),Usefulness(Usefulness1,Usefulness2,Usefulness3),Intentiontouse (Intention1,Intention2,Intention3,Intention4)areinitiallykeptasafinalformatofthe questionnaire. 4.4 Confirmatory Factory Analysis (CFA) Confirmatory Factory Analysis is a better method to assess the validity and reliability of measures (Bagozzi & Foxall, 1996). The goodness-of-fit of CFA is used to further assess the unidimensionality and convergent validity among the constructs. CFA is applied with following indexes: Chi-square, Chi-square/df, Comparative Fit Index (CFI), Tucker & Lewis Index (TLI), Root Mean Square Error Approximation (RMSEA).All factors are reliability for the next analyzing steps if GFI, TLI, and CFI are equal or above 0.9 (Bentler&Bonett,1980),Chi-square/dfisequaltoorlessthan2(Chisquare/df3canbe acceptedinsomecases)(Carmines&McIver,1981),andRMSEAisequaltoorlessthan 0.08 (RMSEA 0.05 is excellent) (Steiger, 1990).Therefore, these evidences, which are GFI = 0.904, TLI = 0.959, CFI = 0.964 (>0.9), Chi-square/df=2.518(