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An Empirical Investigation on Consumer Acceptance of Mobile Banking Services

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  • Bong Keun Jeong
  • Tom E Yoon

Abstract

This study explores factors influencing adoption of mobile banking. Based on extended Technology Acceptance Model (TAM), we identified five factors which influence consumers¡¯ behavioral intention to adopt mobile banking- perceived usefulness, perceived ease of use, perceived credibility, perceived self-efficacy, and perceived financial cost. Data was collected from 165 respondents through a survey questionnaire, and the regression was used to analyze the relationships. Our results indicate that all factors except for perceived financial cost have a significant impact on behavioral intention towards mobile banking usage. Perceived usefulness is the most influential factor explaining the adoption intention. We also found that consumers¡¯ perceptions are different between mobile banking users and non-users. For users, perceived ease of use is the important factor while perceived self-efficacy significantly influence non-users¡¯ adoption intention. Implications from these findings help banking institutions to strategically frame their service model for broader mobile banking adoption.

Suggested Citation

  • Bong Keun Jeong & Tom E Yoon, 2013. "An Empirical Investigation on Consumer Acceptance of Mobile Banking Services," Business and Management Research, Business and Management Research, Sciedu Press, vol. 2(1), pages 31-40, March.
    • Handle: RePEc:jfr:bmr111:v:2:y:2013:i:1:p:31-40
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    References listed on IDEAS

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    1. Sindhu Singh & R. K. Srivastava, 2020. "Understanding the intention to use mobile banking by existing online banking customers: an empirical study," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 25(3), pages 86-96, December.
    2. Jebarajakirthy, Charles & Shankar, Amit, 2021. "Impact of online convenience on mobile banking adoption intention: A moderated mediation approach," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    3. Miroslav D. Vujičić & James Kennell & Alastair Morrison & Viachaslau Filimonau & Ivana Štajner Papuga & Uglješa Stankov & Djordjije A. Vasiljević, 2020. "Fuzzy Modelling of Tourist Motivation: An Age-Related Model for Sustainable, Multi-Attraction, Urban Destinations," Sustainability, MDPI, vol. 12(20), pages 1-19, October.
    4. Shankar, Amit & Rishi, Bikramjit, 2020. "Convenience matter in mobile banking adoption intention?," Australasian marketing journal, Elsevier, vol. 28(4), pages 273-285.
    5. S. V. Krishna Kishore & Aloysius Henry Sequeira, 2016. "An Empirical Investigation on Mobile Banking Service Adoption in Rural Karnataka," SAGE Open, , vol. 6(1), pages 21582440166, March.
    6. Qaisar Ali & Shazia Parveen & Hakimah Yaacob & Zaki Zaini, 2021. "Cardless Banking System in Malaysia: An Extended TAM," Risks, MDPI, vol. 9(2), pages 1-16, February.
    7. Avornyo, Philip & Fang, Jiaming & Antwi, Collins Opoku & Aboagye, Michael Osei & Boadi, Evans Asante, 2019. "Are customers still with us? The influence of optimum stimulation level and IT-specific traits on mobile banking discontinuous usage intentions," Journal of Retailing and Consumer Services, Elsevier, vol. 47(C), pages 348-360.
    8. T. G. Saji & Deepa Paul, 2018. "Behavioural Intention to the Use of Mobile Banking in Kerala: An Application of Extended Classical Technology Acceptance Model," Metamorphosis: A Journal of Management Research, , vol. 17(2), pages 111-119, December.
    9. Malgorzata Solarz & Jacek Adamek, 2021. "Factors Affecting Mobile Banking Adoption in Poland: An Empirical Study," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 1018-1046.
    10. Nenad Tomić & Zoran Kalinić & Violeta Todorović, 2023. "Using the UTAUT model to analyze user intention to accept electronic payment systems in Serbia," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(2), pages 251-270, May.
    11. Kamal Abubker Abrahim Sleiman & Lan Juanli & Hongzhen Lei & Ru Liu & Yuanxin Ouyang & Wenge Rong, 2021. "User Trust levels and Adoption of Mobile Payment Systems in China: An Empirical Analysis," SAGE Open, , vol. 11(4), pages 21582440211, November.
    12. Saeed Pahlevan Sharif & Ashraf Sadat Ahadzadeh & Khong Kok Wei, 2015. "A Moderated Mediation Model of Internet Use for Health Information," Journal of Social Sciences (COES&RJ-JSS), , vol. 4(1), pages 611-625, January.
    13. Dlodlo N, 2017. "Re-Thinking a Structural Model for M-Phone Paying among South African Consumers," Journal of Economics and Behavioral Studies, AMH International, vol. 9(2), pages 114-130.
    14. Rishi Manrai & Kriti Priya Gupta, 2023. "Investor’s perceptions on artificial intelligence (AI) technology adoption in investment services in India," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(1), pages 1-14, March.
    15. Tinashe Madzinga & Vusumuzi Sibanda & Shakerod Munuhwa, 2020. "E-Procurement as a Strategic Sourcing Tool in the Beverage Industry in Zimbabwe," Business and Management Studies, Redfame publishing, vol. 6(2), pages 4049-4049, December.
    16. S. Ananda & Sonal Devesh & Anis Moosa Al Lawati, 2020. "What factors drive the adoption of digital banking? An empirical study from the perspective of Omani retail banking," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 25(1), pages 14-24, June.
    17. Alalwan, Ali Abdallah & Dwivedi, Yogesh K. & Rana, Nripendra P., 2017. "Factors influencing adoption of mobile banking by Jordanian bank customers: Extending UTAUT2 with trust," International Journal of Information Management, Elsevier, vol. 37(3), pages 99-110.

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    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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