FACTORS INFLUENCING THE DECISION TO USE CASHLESS PAYMENTS ON SELECTED E-COMMERCE PLATFORMS: A STUDY IN HANOI

E-commerce activities, particularly transactions conducted on digital platforms, are experiencing significant growth both globally and in Vietnam. In this context, cashless payments are increasingly seen as an inevitable trend that enhances transaction efficiency and is widely promoted for adoption. This study aims to assess the current situation and identify the key factors influencing consumers' decisions to adopt cashless payment methods on e-commerce platforms, with Hanoi selected as the research site. Data were collected through a random sampling method using a structured questionnaire distributed to 300 individuals in Hanoi. The collected data were processed and analyzed using SmartPLS software, employing exploratory factor analysis (EFA), reliability testing, and structural equation modeling (SEM) to evaluate the impact of various factors on the adoption of cashless payments. The SEM analysis results reveal two major groups of factors that significantly influence consumers’ decisions to accept cashless payments on e-commerce platforms in Hanoi. Based on these findings, the study proposes several practical solutions to assist e-commerce businesses in promoting the acceptance of cashless payments in Hanoi in the near future.