Abstract
The main objective of this study is to analyse consumers’ behavioural intentions to use cardless banking technology in Malaysia. The intentions to use this technology are evaluated through an extended Technology Acceptance Model (TAM) framework. The data were collected from 447 Maybank and Hong Leong Bank customers in Selangor and Kuala Lumpur. The results show that self-efficacy (SE) had a positive impact on the perceived ease of use (PEOU), while perceived risk (PR) had a negative impact on perceived usefulness (PU) and intention to use (IU) cardless banking. Next, the perceived ease of use (PEOU) had a positive impact on perceived usefulness (PU). The results further support the idea that perceived usefulness (PU) and perceived ease of use (PEOU) had the strongest impacts on intention to use (IU). The practical implications of this study suggest that developers of cardless banking technology should introduce secure, less complicated, and easily accessible technology to improve consumers’ intentions to use. The perceived usefulness of this technology can be improved through promotional strategies and consumer training. Theoretically, this study has successfully extended TAM in the context of cardless banking technology in Malaysia. Moreover, this study will assist bankers in designing effective marketing strategies to attract more customers, which will add significant value to the overall business of the banking industry.
Highlights
Over the past decade, cardless banking (CB) has emerged as an important tool in the reduction of financial crime and the protection of consumers’ sensitive information leakage to identity thefts
Based on the preceding discussion, the present study aims to develop and test a comprehensive conceptual framework to analyse the acceptance of a CB system in Malaysia
This study investigates the impact of perceived ease of use and perceived usefulness on the intention to use CB through the following hypotheses: Hypotheses 5 (H5)
Summary
Cardless banking (CB) has emerged as an important tool in the reduction of financial crime and the protection of consumers’ sensitive information leakage to identity thefts. Financial crime is described as financial loss through unlawful activities such as fraud, tax evasion, and money laundering (Ofori-Dwumfuo and Gyimah 2013). During the last 40 years, financial crime, described as a white-collar crime, has become an issue of global, governmental, and industrial concern. It is defined as a nonviolent offence committed by or against an individual or corporation resulting in financial loss (Frunza 2016; Reuters 2018). In Malaysia, financial crime refers to cases involving cheque cloning, Automated Teller Machines (ATM) and credit card fraud,. “Fly by Night” scams, Internet fraud such as spoofing, love scams, parcel scams, email hacking as well, as money laundering (PWC 2018).
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