Examining the satisfaction of purchase process with electronic wallet on e commerce platform

ABSTRACT The goal of this research is to test the level of humor in customers during the payment process using e-wallets on e-commerce platforms.. Therefore, our team decided to research

Art

UNIVERSITY OF ECONOMICS & FINANCE T RAIN IN G

HCMC UNIVERSITY OF ECONOMICS AND FINANCE FACULTY OF INFORMATION TECHNOLOGY

Students : Nguyen Thi Thu Huyen — 205121368

Phan Thanh Huy — 205024049

Dinh Le Cat Tuong — 215061774

Phan Thi Tu Uyen — 205051901 Nguyen Huy Hoang - 205121420

MINISTRY OF EDUCATION AND TRAINING HCMC UNIVERSITY OF ECONOMICS AND FINANCE FACULTY OF INFORMATION TECHNOLOGY

Students : Nguyen Thi Thu Huyen — 205121368

Phan Thanh Huy — 205024049 Dinh Le Cat Tuong — 215061774 Phan Thi Tu Uyen — 205051901 Nguyen Huy Hoang - 205121420

Ho Chi Minh City, 03/2024

205121368 Nguyen Thi Thu Huyen

Word design, content of}

chapter 3 (Research methods), survey table creation, Powerpoint design

Contents of chapter 1 (Introduction), chapter 4 (Results), Powerpoint design

Contents of chapter 1 (Introduction), chapter 4 (SPSS data analysis), data statistical description, Powerpoint design

ABSTRACT

The goal of this research is to test the level of humor in customers during the payment process using e-wallets on e-commerce platforms The rapid development of e- commerce and e-wallets still leaves many concerns about the security of the purchasing process using e-wallets on e-commerce platforms Security issues, potential product quality doubts, and customer satisfaction remain hot spots that need to be carefully considered Therefore, our team decided to research "Testing the satisfaction of the purchasing process using e-wallets on e-commerce platforms" based on MOMO e-wallet - an e-wallet with high popularity in Vietnam This study will examine factors that influence Vietnamese customers’ intention to use MOMO e-wallet, focusing on perceived usefulness, ease of use, social influence, portability, and accessibility convenient The research was conducted on

100 MOMO users, using data collection method through online survey, collected data was entered into statistical software such as SPSS for analysis Appropriate statistical methods are used to evaluate the relationship between variables and research objectives The results

of data analysis are interpreted to draw conclusions and observations about the level of assurance of the purchasing process using e-wallets on e-commerce platforms Based on the research results, draw conclusions and make recommendations for improvement These findings bring practical significance for intermediary service providers and regulatory agencies to promote the digital payment trend in Vietnam, promoting the development of the electronic payment sector

TABLE OF CONTENT

I cao Sàn in ng ằằ.ằốœ -ăố 11

2.1 Concept of customer satisfaction level 12

4.5 2.3 The relationship between service quality and customer satisfaction 12 4.6 2.4 Factors affecting customer satisfaction with MOMO e-wallet 13

2.6.1 Benefits Of researCH cà LH HH TH Hà nà HH HH TH TH TH Tà HH ĐH Hà Tà kh 13 P.1 (on on ộó, a 14

4.12 3.5 The survey & the data colleCtÏOin - - nọ ng gi mm sơ 16

3.5.1 Data Collection Ố óốUỤŨốẽ 3.5.2 Survey questions collected

4.3.1 Theoretical IMplication 41 38 LÝ» cái ÔÔÔ ố ố.ố.ố.ố.ố 38

LIST OF FIGURES Figure 1 Research Background

Figure 2 Describes 5 levels of the Liker† SCal@ - - - 11121 SHH TH HH HH kh Figure 3 Research Process model

Figure 4 Gender Pie Chart

Table 4 Occupational s†afiSỈÍCS nà HH TH Họ HH KH KH TH TH TT TH TT

Table 5 Statistics on MOMO e-wallet usage

Table 6 Statistics on MOMO e-wallet usage

Table 7 Statistics on usage of MOMO e-wallet utilities

Table 8 Statistics on satisfaction level with incentives of MOMO wallet utilities -<<<+ 23 Table 9 Statistics on easy payment factors of MOIMO wall©f . - nh nh Tn HH HH KH He 24 Table 10 Statistics on factors affecting customer satisfaction veers ee eeseeeaeseseeeeeeeeeeesenaaseeaees 25 Table 11 Statistics on customer preference for MOMO wallet ” we Table 12 Statistical table on the level of customer introduction to MOMO wallet LH KH KH tt nh 28

Table 14 Customer feedback statistics table on whether the problem has been resolved or not 30 Table 15 Customer feedback statistics tale© - cà nh nh HH TH TH HH TH HH Xrp 32

Is a free computer program for

statistical analysis, was created fc the purpose of Applied scientific data analysis in the field of social

PEU Perceived Ease of Use

Refers to the degree to which a person believes that using a

particular system would be free o effort

Sl Social Influence

Refer to the process by which an individual’s attitudes, beliefs, or behavior are modified by the

presence or actions of others

MOB Mobility Mobility refers to the ability to

move freely or be easily moved

Consumer trust is the confidence and belief that customers have in brand, product, or service

TAM Technology Acceptance Model

Is a theoretical model of technology behavior that explains how users evaluate and use new technology

Use of Technology

Examines the acceptance of

technology, determined by the

effects of performance expectanc effort expectancy, social influence and facilitating conditions

Al Artificial intelligence

The theory and development of computer systems capable of performing tasks that historically required human intelligence

RSA Rivest-Shamir-Adleman A public-key cryptosystem, one of

the oldest widely used for secure data transmission

CHAPTER 1 INTRODUCTION 1.1 Research Background

Figure 1 Research Background

The chart show E-wallet brands that users used the most often in Vietnam in the 2nd

quarter of 2023 (Statista 2023) According to a survey on e-wallet usage in Vietnam in the second quarter of 2023 by Decision Lab, MOMO was the most used e-wallet by Vietnamese respondents, as stated by 47 percent of them Meanwhile, the same survey revealed that ShopeePay was used the most by 10 percent of the respondents

With the popularity and utility that MOMO brings, millions of Vietnamese have shifted from using traditional payment methods to using MOMO wallets for daily transactions, from bill payments and ticket purchases to online shopping From there, the topic chosen

by our team for the study and testing of the security of the e-wallet shopping process on an e-commerce platform is not only necessary but also the first step to better understand the status and factors affecting consumer confidence when using e-wallets, especially MOMO wallets, in Vietnam

4.1 1.2 Objectives of the research

The purpose of this research paper is to contribute to a better understanding of how customer satisfaction levels are impacted by MOMO e-wallet use during the purchasing process on e-commerce platforms By doing so, companies can enhance their services and the online purchasing experience for clients by getting a better understanding of their requirements and expectations

The importance of this study is to provide detailed information on how e-wallets affect customer satisfaction when shopping online Understanding what factors influence customer satisfaction can help optimize their services and products, thereby enhancing their shopping experience and generating business benefits

4.3 1.4 Object and scope of the research

1.4.1 Object of the research

The research will focus on consumer satisfaction with the payment process using MOMO e-wallet on e-commerce platforms

1.4.2 Surveyed Subjects

Table 1 Describe the survey object

Demographic) Age: 16-35

« Gender: Male, Female, Other

« Occupation: Students, College Students, Officers

Geographic | Ho Chi Minh City

Behavioral « Use MoMo for online payments

e Frequently shop online

e Look for offers and promotions when paying online

e Usage rate: Regularly, occasionally

e« Need: Quick payment without using cash

Psychologica] Life style:

e Active lifestyle, busy with work and study Interested in fast convenient payment services that save time

Value:

e Reasonable incentives and flexible payment experiences

Interests:

e Trend of not using cash or paying after receiving goods

e Passionate about electronic payment applications and rea experience it

1.4.3 Scope of the research

The scope of the research is Ho Chi Minh City University of Economics and

Finance and the areas of Binh Thanh, Go Vap, and District 2

1.4.4 Research time

Research testing the level of satisfaction when shopping through MOMO e-wallet

on the e-commerce platform will last for a certain period of time: The study will take approximately three months from January to March 2024

« Analyze data from e-commerce platforms and e-wallets: Collect data from purchase transactions and customer reviews on e-commerce platforms, analyze data from payment transactions via wallets electronically to better understand customer purchasing behavior

CHAPTER 2 THEORETICAL REVIEWS

2.1 Concept of customer satisfaction level

There are as many different definitions of customer humor as there are debates about this definition Many researchers believe that satisfaction is the difference between customer expectations and the actual perception received According to Philip Kotler, customer satisfaction (Customer satisfaction) is the level of status One's feelings are derived from comparing the results obtained from consumer products/services over time

2.2 Satisfaction measurement models

« CSAT (Customer Satisfaction Score): CSAT is often measured by asking customers to rate a product or service on a specific scale, usually from 1 to 5 or from 1 to 10 For example, MOMO may ask users to rate their service experience from 1 to 5

« NPS (Net Promoter Score): NPS measures a customer's ability to recommend a product or service to others For example, Customers are often asked to rate "On a scale of 0 to 10, would you recommend MOMO to your friends or colleagues 2"

« CES (Customer Effort Score): CES measures the amount of effort a customer has

to expend to use a product or service MOMO can conduct a survey after each transaction to evaluate the customer's level of effort, for example by asking "Do you find it easy to transact with MOMO?" and rated on a scale from 1 to 7

e Likert scale: This psychometric scale is frequently used by researchers to get insight into people's attitudes regarding a brand, product, or target market The Likert scale posits a linear relationship between the strength and intensity of the experience Assuming attitudes can be measured, it ranges from total agreement to complete disagreement

2.3 The relationship between service quality and customer satisfaction

The service quality of the MOMO e-wallet significantly influences customer satisfaction, with factors such as security, convenience, and trading experience determining its quality High-quality services increase customer satisfaction and retention, with a cause-

and-effect relationship between service quality and satisfaction When MOMO e-wallet provides customers with high-quality services, the likelihood that customers will be satisfied and continue to use this service will increase significantly There is a cause-and- effect relationship between service quality and clear satisfaction when the service quality

of the MOMO e-wallet is the decisive starting point for customer satisfaction The importance of customer feedback cannot be denied Collecting and evaluating this feedback is vital to ensuring service quality is maintained and improved Feedback from customers will provide the necessary information to adjust and optimize MOMO e-wallet services, thereby creating the highest level of user satisfaction

2.4 Factors affecting customer satisfaction with MOMO e-wallet

Here we have surveyed the market and consulted a number of related documents and concluded some influences that can affect the payment process using Momo e-wallet

of customers on the exchange's transactions ecommerce

« Convenience: The MOMO app's ease of use and convenience in the payment and money transfer process can affect customer satisfaction This includes an intuitive user interface, speed of transactions, and cross-platform usability

« Security: Customers care about the security of their personal information and accounts MOMO needs to ensure that its services have strong security measures such as two-factor authentication and data encryption

e« User experience: A positive user experience while using the MOMO app, including its response speed, flexibility, and performance, can increase satisfaction e« Customer service quality: MOMO's ability to resolve customer problems and requests is also an important factor Fast, professional and efficient customer

service can create satisfaction

e Diversity of features and services: MOMO provides diverse features and services such as bill payment, ticket purchasing, money transfer, etc This diversity can meet diverse customer needs and increase satisfaction levels

By identifying these factors, research can help better understand how e-wallets affect the shopping experience and customer satisfaction on e-commerce platforms

2.6 Benefits and risks of research

2.6.1 Benefits of research

Enhance customer experience: Understanding customer satisfaction levels increases your chances of improving the purchasing experience This can lead to higher satisfaction, increased e-commerce shopping opportunities, and brand loyalty

Identify strengths and weaknesses: Research will help identify the strengths and weaknesses of the shopping process using MOMO e-wallet, thereby improving imperfect aspects and strengthening factors that are attracting customers satisfied services

Building a marketing strategy: Understanding customers' wants and needs through satisfaction levels will help businesses develop more effective marketing strategies, focusing on factors that are important to customers to create compelling marketing messages

2.6.2 Risks of research

Cost and time: Process research requires significant cost and time to collect data, analyze it, and draw conclusions If not done effectively, it can be costly and not produce the expected results

Customer Responsiveness: Customers may not want or have the time to participate in providing feedback, leading to insufficient or unreliable data collection Market volatility: Markets and customer needs can change rapidly, making collected data quickly outdated

In summary, although research on the satisfaction level of the purchasing process using the MOMO e-wallet on the e-commerce platform brings many benefits, it is also necessary to consider the risks to do so effectively and reliably trust

CHAPTER 3 RESEARCH METHODOLOGY

Step 3: Conduct quantitative research

Step 4: Create a questionnaire

Step 5: Surveying Research issue: Surveying customer

satlsfaction in Ho Chi Minh City during the

payment process using MOMO e-wallet on

the e-commerce platform

Step 7: Analyze

results and draw conclusion and recommendation

Step 6: Survey of

‘ 100 customers Collect Data Descriptive Statistic

Primary data: data collected directly through a Google Form questionnaire sent to each relevant customer unit using payment services on the e-commerce floor including factors affecting customer satisfaction, information about customer perceptions and some demographic information of the surveyed subjects

4.6 3.3 Research approach

Within the scope of this study, quantitative methods will be employed to ascertain the answers to the research questions provided as well as the elements that have the most impact on customer intentions Used for the MOMO e-wallet Study quantitative numbers

by examining values, applying analysis or statistics to the values, and solving for the collected values with graphical representations such as graphs, tables, or diagrams This strategy saves money and time by allowing us to collect data in multiple dimensions and facets Does not have any effect on survey participants because it does not collect any personal information from them

To begin the survey, we included a quick explanation at the start of the questionnaire This introduction will clarify the research aims, the nature of the problems, and the security considerations involved The questionnaire consists of three parts

- In the first section, we collect demographic information such as age, gender, educational level, employment status, and mobile wallet experience

- In the second section, respondents will be asked screening questions to determine if they utilize the MOMO digital wallet or not

- The survey's third section included multiple-choice questions to get feedback

on satisfaction with MOMO e-wallet payments on e-commerce platforms

4.8 3.5 The survey & the data collection

3.5.1 Data collection

The survey was conducted for each of the 100 customers who completed the survey questionnaire We divided into 5 survey groups, with each survey location estimated at about 20 users using a non-probability sampling method

3.5.2 Survey questions collected

Question 1 Your gender

1 Giới tính của bạn là:

100 câu trả lời

Figure 4 Gender Pie Chart

Table 2 Gender statistics

Question 2 Your age

Figure 5 Age analysis pie chart

Table 3 Age statistics

Figure 6 Career statistics pie chart

Table 4 Occupational statistics

Students, College Students | 64%

of GenZ has access to technology faster than most

Question 4 Have you or have you ever used a MOMO e-wallet for payments on e- commerce platforms (Shopee, TikTok Shop, Lazada, )?

4 Bạn có đang hoặc đã từng sử dụng ví điện tử Momo cho việc thanh toán trên các

sàn TMĐT (Shopee, TikTok Shop, Lazada, Tiki, Grab, ) chưa?

Figure 7 Pie chart of MOMO e-wallet users

Table 5 Statistics on MOMO e-wallet usage

wallet for pay payments on e-commerce P4LOFTT Dsed to platform 16%

(Shopee, TikTok Shop, Lazada )?

Never before 3%

Surveying the level of customer usage of the service shows that the number of users

is quite high with 81% and only 3% have never used payment services on e-commerce platforms