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Consumer intention and credit card adoption in Vietnam

Oanh Dinh Yen Nguyen (College of Economics, Can Tho University, Can Tho, Vietnam)
John F. Cassidy (Department of Management, College of Business and Law, University College Dublin, Dublin, Ireland)

Asia Pacific Journal of Marketing and Logistics

ISSN: 1355-5855

Article publication date: 17 October 2018

Issue publication date: 5 November 2018




There is limited research on consumer intention and credit card adoption in the transitional economies of Southeast Asia. The purpose of this paper is to investigate the key elements that influence an individual’s intention of adopting credit cards in the transitional economy Vietnam.


A questionnaire was developed based on the technology adoption literature. After data cleaning, 595 responses were deemed valid. Factor analysis (EFA and CFA) was utilized on split samples, and a structural equation model developed to identify the influential technology adoption factors.


The analysis found strong support for the hypotheses theoretically developed. In the transitional economy of Vietnam, consumer’s intention to adopt credit cards was influenced by “Perceived usefulness (PU),” “Perceived ease of use (PEOU),” “subjective norm (SN),” “perceived self-efficacy (PSE)” and “Anxiety”. However, “perceived financial cost (PFC)” was not a significant factor.

Research limitations/implications

The use of cross-sectional data does not enable the analysis of time sequence of the determinants of consumer intention.

Practical implications

This research provides a body of knowledge on modern banking payment systems and credit card utilization factors in the transitional economy of Vietnam which has relevance for other transitional as well as developing economies of Southeast Asia, and is a good reference source for foreign investors, banks and card service companies.


To date, there are no studies that explore the interaction between “PU,” “PEOU,” “PFC,” “SN,” “PSE,” “Anxiety” and “Behavioral Intention” in the context of the Vietnamese credit card market, nor other transitional markets in Southeast Asia.



Nguyen, O.D.Y. and Cassidy, J.F. (2018), "Consumer intention and credit card adoption in Vietnam", Asia Pacific Journal of Marketing and Logistics, Vol. 30 No. 4, pp. 779-796.



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