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Introduction
The application of internet technologies to businesses for improvements in their performances is not something new. As stated by [43] Saffu et al. (2008), there is an increase in applications of e-commerce in businesses in the past ten years. The benefits of e-commerce include reduction in cost, increasing business opportunities, reducing lead time and providing a more personalized service to the consumers ([48] Turban et al. , 2008).
One e-commerce tool that is being adopted by the banking industry is online banking or e-banking. IT tools such as online banking have provided an improvement in services among the banking industry ([9] Dawes and Rowley, 1998). There are currently more than thousands of e-banking web sites all over the world ([16] Gurau, 2002). Although online banking has been implemented in many developed countries such as the United States and those in Europe ([40] Pikkarainen et al. , 2004), there is a growing trend in the adoption of online banking by banks in developing countries too ([16] Gurau, 2002). One developing country, which has been growing rapidly in recent years is Vietnam ([38] PhanCuNhan, 2005).
E-commerce is still very much at the beginning stage in Vietnam ([22] Huy and Filiatrault, 2006). Although Vietnam is currently attracting foreign investors due to its low cost advantage when compared to other countries, a low cost strategy will not guarantee businesses to compete effectively in the long run ([6] Chong and Ooi, 2008). In order for the companies to stay competitive, they can implement e-commerce to enable them to be more productive and efficient. The importance of e-commerce in Vietnam is highlighted by the fact that the Vietnamese government is aiming to have more firms conducting e-commerce by 2010 under their Overall Plan on Developing E-commerce ([37] People's Daily , 2006). Given the importance of online banking, it has become part of the overall e-commerce strategic plan in Vietnam.
However, in order for online banking to be successful in Vietnam, users should be willing to adopt the technology ([38] PhanCuNhan, 2005). Although the Vietnamese government is willing to spend money to invest on e-commerce infrastructure, the ultimate success of e-commerce such as online banking is still depending on consumers' perceptions and whether they are willing to use online banking.
Although...