FACTORS AFFECTING ADOPTION OF MOBILE BANKING IN INDIA: AN EMPIRICAL STUDY
Keywords:
Abstract
The rapid pace of technological development has changed the way people communicate and interact with each other within their social circle. This has created opportunities for financial services companies to meet customer expectations through various alternative channels. Mobile banking is one of the channels which offer various multiple services to the customers in order to bypass the traditional branch-based retail banking. This study aims at identifying the factors affecting the adoption of mobile banking innovations by existing individual banking customers. Seven adoption factors viz. Perceived Usefulness, Perceived Credibility, Attitude, Social Influence, Facilitating Condition, Compatibility and Perceived Ease of Use are identified based on principal component method of exploratory factor analysis. The empirical findings not only prioritize different parameters of mobile banking adoption but also provide guidelines to banks for focusing on important factors that affect perception of individual mobile banking users related to adoption of mobile banking.
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