Issue: Số 8 tháng 4 năm 2026Tài chính - Ngân hàng - Bảo hiểm
Impact of digital payments on Vietnamese students’ online purchase decisions: The moderating role of the Pain of Payment
Published: August 2, 2026
doi:10.62831/202608056
Abstract
This study investigates the influence of digital payment adoption on Vietnamese students’ online purchase decisions using a partial least squares structural equation modeling (PLS-SEM) approach. A quantitative research design was employed, based on survey data collected from 503 students. The results indicate that performance expectancy (PE), effort expectancy (EE), facilitating conditions (FC), perceived benefits (PB), subjective norms (SN), and trust (T) exert significant positive effects on the adoption of digital payment (ADP), whereas perceived obstacles to payment (POP) have a negative impact. At the behavioral stage, ADP, perceived behavioral control (PBC), and POP directly influence online purchase decisions (OPD), with ADP and PBC enhancing, and POP diminishing, purchase likelihood. Perceived value (PV) and the interaction term (POP EFFECT) are not statistically significant. All indirect effects mediated through ADP are significant for EE, FC, PB, PE, POP, SN, and T, underscoring the central role of digital payment adoption in shaping online purchasing behavior among students.
Keywords
digital paymentonline shoppingstudentspurchase decisionPLS-SEM
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