Factors Influencing the Adoption of Mobile Banking in India

Abstract

The advancement of mobile communication and wireless technologies has made a rapid development in the sector of banking services using their mobile phones. A fine system with great potential has the capacity to attract a huge block of customers to opt for banking services through their mobile phones. The dynamism in the present era of technology, where many other channels are available, this mobile banking system stands alone to attract more customers to come in the net of using mobile banking services. This paper meticulously aims to investigate the factors influencing the intention of the customer to use mobile banking. It suggests an integrated model that incorporates the five antecedents namely, perceived ease of use, compatibility, social influence, security, and perceived cost on its influence on customers' decision to use mobile banking. The study results revealed that compatibility, social influence, and security in their order of influence significantly affect the customers' decision to use mobile banking. The theoretical model is empirically validated and explained 62 percent of the variance in intention to use mobile banking. The implications of this study's findings for the future research and practice are described.