The future of non-contact commerce: the role of voice payments

Abstract

Voice payment systems have emerged as a revolutionary mode of transaction, transforming the way individuals interact with financial services. By incorporating two additional factors (trust and perceived security) into the Unified Theory of Acceptance and Use of Technology (UTAUT) framework, this study was conducted to address existing research gaps, specifically the dearth of studies on emerging payment methods in Vietnam. The purpose of this study is to investigate and analyze the factors influencing people’s intention to use voice payment, shedding light on the determinants shaping individuals' attitudes and behaviors in adopting this innovative payment method. A survey utilizing self-administered questionnaires was conducted, gathering data from 435 users experienced in using mobile payment services in Vietnam. The collected data underwent partial least square structural equation modeling (PLS-SEM). The findings indicate that performance expectancy (PE), social influence (SI), and trust (TR) positively impact both behavioral intention (BI) and voice payment adoption (VPA). This study contributes academically by introducing novel constructs to assess users' likelihood of embracing financial technology. In addition, the findings inform business executives and service providers regarding the expansion prospects that voice payment presents and aid them in comprehending the adoption of this technology. By offering recommendations, this research aids voice payment providers in enhancing the quality of their services and increasing customer satisfaction considering the findings.