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Mobile Banking Adoption in Russia: What Incentives Matter?

Author

Listed:
  • Veronika Belousova

    () (National Research University Higher School of Economics)

  • Nikolay Chichkanov

    () (National Research University Higher School of Economics)

Abstract

Mobile banking has followed the appearance of high tech mobile devices. However, rates of payments made through mobile banking apps are still much lower than through other channels. This paper observes the main incentives to use mobile banking in Russia by users of smartphones and tablets. The empirical model modifies authors’ previous one [Belousova & Chichkanov, 2015] to find the relationship between the intention to use mobile banking and new factors, such as the perceived financial costs and social influence and the indirect influences of self-efficacy and compatibility with lifestyle. Following the baseline study, Partial Least Squares Structural Equation Modelling (PLS-SEM) is used to check the existence of such relations. The paper finds that the most powerful chain of incentives is “self-efficacy”-“perceived efforts”-“perceived usefulness”-“intention to use”. The influence of perceived financial costs are also meaningful. However, the perceived risks, compatibility with lifestyle and social influence do not have any significant relationship with the intention to use mobile banking. The lack of generalizability may be driven by the chosen focus groups. In addition, the distinction between the dependent variable “intention to use” and real usage might also be considered as a limitation of the study. However, these results can be used by financial institutions that develop a strategy for improving mobile banking services

Suggested Citation

  • Veronika Belousova & Nikolay Chichkanov, 2015. "Mobile Banking Adoption in Russia: What Incentives Matter?," HSE Working papers WP BRP 48/STI/2015, National Research University Higher School of Economics.
  • Handle: RePEc:hig:wpaper:48sti2015
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    File URL: http://www.hse.ru/data/2015/11/05/1078876695/48STI2015.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    remote banking services; innovations; mobile banking; PLS-SEM; acceptance of technology; user adoption and behavioural intention; perceived usefulness.;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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