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An examination of mobile banking and mobile payments: building adoption as experience goods?

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  • Julia S. Cheney

Abstract

This paper examines consumer adoption of mobile banking and mobile payments using the experience goods and learning by doing constructs as a framework to better understand adoption patterns in the United States and how these may differ in other world markets. Consumer experience and familiarity with mobile devices is considered along with three relatively new communication technologies ? SMS text messaging, wireless Internet access, and near field communication (NFC) ? that are making important contributions to mobile financial services. Online banking and contactless payments ? and consumers? experience with them ? are also studied as ?building blocks? to mobile financial services. Furthermore, this analysis considers other factors that are affecting adoption patterns, including financial inclusion opportunities, data security problems, and coordination issues. Together, the building blocks and these other factors will influence how markets for mobile financial services develop.

Suggested Citation

  • Julia S. Cheney, 2008. "An examination of mobile banking and mobile payments: building adoption as experience goods?," Consumer Finance Institute discussion papers 08-06, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpdp:08-06
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/consumer-finance/discussion-papers/D2008MobileBanking.pdf
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    Cited by:

    1. Kumbhar, Vijay, 2011. "Financial Inclusion Through M-Banking Services: Scope and Problems in India," MPRA Paper 28724, University Library of Munich, Germany.
    2. Md. Humayun Kabir & S.S.M. Sadrul Huda & Omar Faruq, 2020. "Mobile Financial Services In The Context Of Bangladesh," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 9(3), pages 83-98.
    3. 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.
    4. Marc Rysman & Marianne Crowe & Joanna Stavins, 2010. "Mobile Payments in the United States at Retail Point of Sale: Current Market and Future Prospects," Boston University - Department of Economics - Working Papers Series WP2010-055, Boston University - Department of Economics.

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