Digital Payments and Communication Strategies: Shaping Financial Behavior among Young Consumers in Vietnam

Abstract

This study investigates the influence of digital payment ecosystems on the financial behavior of Vietnamese youth through a three-tier analytical framework comprising technological behavior, the perceived usefulness construct, and smart financial behavior. Utilizing survey data from 300 respondents aged 18–35 and estimated via Structural Equation Modeling (SEM) combined with OLS regressions, the findings reveal that technological behavior is the principal driver of digital payment usage, whereas financial literacy and demographic characteristics exhibit no statistically significant effects. The model further demonstrates that perceived usefulness exerts a substantial impact on spending-tracking practices and facilitates more disciplined financial planning. The study elucidates both the determinants of digital payment adoption among young users and the subsequent financial behaviors that arise thereafter. Moreover, the results underscore the need for tiered smart-financial-education interventions that align with distinct behavioral levels and are embedded directly within digital payment applications to enhance relevance and effectiveness for young consumers.