The Impact of Social Influence, Perceived Risk, and Trust on Mobile Payment Usage Intention and Behavior among Vietnamese Consumers: The Moderating Role of Generation and Usage Experience

Mobile payment is now integral to daily life in Vietnam, yet rising fraud concerns heighten the importance of perceived risk and trust. This study examines how social influence, perceived risk, and provider trust shape usage intention and actual usage behavior, and whether these relationships vary by generation and usage experience. Survey data from 156 Vietnamese mobile payment users were analyzed using bootstrapped mediation and multi-group moderation tests. Trust is the strongest determinant of intention (β = 0.54) and substantially reduces perceived risk (β = −0.75). Perceived risk retains an independent negative effect on intention (β = −0.29), and intention strongly predicts usage behavior (β = 0.56). Social influence has no significant direct effect on intention, but its total effect is substantial (B = 0.90), fully mediated by trust. Moderating effects of usage experience and generation were not supported. Given the convenience sample, cross-sectional design, and possible common method bias, findings are preliminary.