Abstract
The purpose of the present study is to investigate the major factors that influence the intention to adopt mobile banking. It explores the adoption factors using technology acceptance (TAM) and diffusion of innovation (DIT) theory. Major focus of the study is on the young consumer group that is more likely to adopt mobile banking. Analysis of the study is based on responses from college students in the national capital territory (NCT) of Delhi. Data is analysed using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Results indicate that constructs viz., perceived usefulness (PU), perceived ease of use (PEOU), compatibility; trust and attitude are significant factors to be considered for determination of intention to adoption mobile banking. The study includes implications for researchers and practitioners in terms of identifying the key indicators of adoption of emerging technologies pertaining to mobile banking. It forms a base for future research to predict technology adoption in the context of developing countries.
Highlights
Mobile banking is an advanced form of internet banking (Akturan and Tezcan, 2012) that employs mobile phones to provide financial services to consumers electronically
The new model proposes that the behavioural intention of the users for the adoption of mobile banking can be derived from perceived usefulness (PU), perceived ease of use (PEOU), compatibility, trust and attitude
The model was tested on 200 Indian mobile banking users
Summary
Mobile banking is an advanced form of internet banking (Akturan and Tezcan, 2012) that employs mobile phones to provide financial services to consumers electronically. It is articulated as an innovative marketing and customer relationship management (CRM) tool for financial firms. Mobile banking fabricates stronger associations between financial institutions and the customers (Riquelme and Rios, 2010). Reserve bank of India (RBI) data cited by Business Today (2013) depicts that mobile transactions worth 3.7 crores took place in 2012 (from February and November) growing up to approximately 1.7 times in volumes, which is almost a three-fold increase in its value (Business Today, 2013). The credit of money going straight into the user’s account and money transfer online have increased from 14 percent in 2009 to 22 per cent
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