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Multinomial logit regression adoption: Identifying user characteristics of e-wallets in Can Tho City, Vietnam

Author

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  • Ngan Thi Thuy Nguyen

    (Can Tho University, Can Tho, Vietnam)

  • Khe Son Tran

    (Can Tho University, Can Tho, Vietnam)

Abstract

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.

Suggested Citation

  • Ngan Thi Thuy Nguyen & Khe Son Tran, 2025. "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, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 15(2), pages 170-184.
    • Handle: RePEc:bjw:econen:v:15:y:2025:i:2:p:170-184
    DOI: 10.46223/HCMCOUJS.econ.en.15.2.2945.2025
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    References listed on IDEAS

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    1. Murphy, Geraldine & Hynes, Stephen & Murphy, Eithne & O'Donoghue, Cathal & Green, Stuart, 2011. "Assessing the compatibility of farmland biodiversity and habitats to the specifications of agri-environmental schemes using a multinomial logit approach," Ecological Economics, Elsevier, vol. 71(C), pages 111-121.
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    3. Akinbile, L.A. & Akwiwu, U.N. & Alade, O.O., 2014. "Determinants of farmers' willingness to utilise e-wallet for accessing agricultural information in Osun State, Nigeria," Nigerian Journal of Rural Sociology, Rural Sociological Association of Nigeria, vol. 15(01), December.
    4. Eveline van Leeuwen & Piet Rietveld, 2011. "Spatial Consumer Behaviour in Small and Medium-sized Towns," Regional Studies, Taylor & Francis Journals, vol. 45(8), pages 1107-1119.
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    More about this item

    Keywords

    Can Tho City; e-wallet; multinomial logit regression; non-cash payment; primary preference;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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