Internet banking adoption under Technology Acceptance Model—Evidence from Cambodian users

Abstract

The Cambodian banking sector has experienced significant growth in recent years due to macroeconomic stability and an investment-friendly policy. Similarly, using internet banking (IB) to access financial services without being physically present was extremely convenient and advantageous during the COVID-19 outbreak. Therefore, identifying the factors influencing mobile banking adoption is crucial to maximizing its use. Hence, consumer behavior intentions to adopt IB were explored in this study. It aimed to use a questionnaire-based approach to collect and analyze quantitative data (n = 391) on customer adaptation to IB to test the hypotheses underlying the Technology Acceptance Model (TAM) by adding a subjective norm (SN) construct to the model and empirically testing it with a sample of Cambodians. Equally, the data was analyzed using PLS-SEM. The results confirmed that perceptions of trust and usefulness are the critical determinants of attitude toward IB and intention to adopt IB. However, perceived ease of use was found to be non-significant. Significantly, it provides a valuable insight into the potential effects of socially pressured behaviors, so-called SN, on TAM. Accordingly, the SN is oriented toward AT, which ultimately impacts the adoption of IB. Hence, the findings of this study can be applied to theoretically and empirically adopt IB.