The direct and indirect impacts of factors on the use of QR code payment during the Covid-19 pandemic: Empirical research in Ho Chi Minh City, Vietnam

Abstract

The QR code payment is a service that allows customers to use their smartphone’s camera and mobile banking application to scan the QR code to quickly pay for many transactions by money being transferred from the account of the customer to the account of the point of sale. The objective paper is to identify factors influencing customers’ use of QR code payment in Ho Chi Minh (HCM) City, Vietnam, during the Covid-19 pandemic. Our proposed model extended based on combining the TAM and UTAUT2. We had an online survey with the participation of 567 customers who used the QR code payment in HCM City from June 2020 to January 2021 and applied Structural Equation Modeling (SEM) to test hypotheses. The results were analyzed by SPSS 25 and AMOS 24 software, indicating that the total effect of perceived Covid-19 on the use of QR code payment was the strongest, with the second rank on the direct impact and the first rank on the indirect impact. Intention to use plays the strongest role in the direct effects of the use of QR code payment, while the effects of attitude, facilitating conditions, personal innovativeness, security, trust, and perceived ease of use on the use of QR code payment were indirect and positive. These results will help providers of QR code payment have some recommendations to increase the use of customers about the QR code payment to develop and exploit their potential market for this service.