Consumer decision making in mobile-banking service selection

This paper reports on the findings of a study of 267 consumers on the first order selection criteria within a decision making model that utilizes the Analytic Hierarchy Process (AHP) to evaluate mobile banking service selection. The AHP analysis of the first order selection criteria for the full data sample identified ‘Time Saving’ as the highest ranked factor followed by ‘Control’ then ‘Any Place’ and lastly ‘Cost’. The survey also reports on consumer usage patterns for internet and mobile services as well as exploring their experiences with mobile banking services

Towards successful e-Payment systems: An empirical identification and analysis of critical factors

This research aims to explore the factors relating to e-payment system to be implemented where electronic processes enable the facilitation of online transactions. A secondary analysis revealed six factors which are argued to be ‘critical’ for customer adoption of these systems. The findings were further augmented by an online survey of 155 respondents where the perceived importance of the critical factors were correlated through: security, trust, perceived advantage, assurance seals, perceived risk and usability. The results demonstrate that three of the critical factors were necessary (security, advantage, web assurance seals) and three were relatively sufficient (perceived risk, trust and usability) through customer intentions to adopt an e-payment system. The study provides a valid overall awareness that these critical factors are important in designing a successful e-payment system

A Meta Analysis on Adoption of Mobile Financial Services

During the last decade, there has been tremendous growth in mobile penetration in many countries across the globe including a number of developing countries. The total number of mobile subscription 5 billion by the end of 2010 and is further expected to grow multi-folds. On the other hand, around 2.5 billion adults worldwide do not have a savings or credit account with either a regulated bank or alternative financial institution (such as a microfinance institution). Around one billion people in emerging markets have a mobile phone but no access to banking services. This scenario has opened immense opportunities for organizations including banks, insurance companies and telecom operators to strengthen their customer base and increase revenue by providing various financial services to the consumers through mobile technology. Hence, it becomes very important to understand the factors that would act as drivers or inhibitors towards the adoption of mobile financial services (MFS). Quite a few studies have been conducted across the globe to determine the factors affecting adoption of MFS. This paper provides a Meta analysis of the existing academic literature on MFS and determines the strength of the factors and their linkages through a scoring model based on the type of publication. The findings of the study would be beneficial for further research in understanding the dimensions to be considered for developing adoption model for MFS. The findings can also be used by the practitioners involved in MFS in understanding the factors affecting demand for such services.

Extending UTAUT2 To Explore Consumer Adoption Of Mobile Payments

There is a growing interest in studying the adoption of m-payments but literature on the subject is still in its infancy and no empirical research relating to this has been conducted in the context of the UK to date. The aim of this study is to unveil the current situation in m-payment adoption research and provide future research direction through the development of a research model for the examination of factors affecting m-payment adoption in the UK context. Following an extensive search of the literature, this study finds that 179 relationships between independent and dependent variables have been analysed by 30 existing empirical m-payment and m-banking adoption studies. From analysis of these relationships the most significant factors found to influence adoption are uncovered and an extension of UTAUT2 with the addition of perceived risk and trust is proposed to increase the applicability of UTAUT2 to the m-payment use context

Understanding the usage of Mobile Payment Systems- the impact of personality on the continuance usage

Payment convenience has benefited from the revolution in mobile technologies. M-payment users, however, seem inconsistent in their payment activity, resisting change from traditional payment methods. Ensuring consumer continuance of m-payment technology usage is critical to ensuring the ubiquity of m-payment solutions. Although research has examined the influence of individual difference on the acceptance of m-payment, most studies fail to consider whether ongoing acceptance is maintained by the user, or whether a change in perception occurs as a result of use. Moreover, current studies consider user demographic profiles to segment mobile users, yet this dismisses the impact of individual difference, e.g. personality or cognitive style. This paper proposes a model that can be used to investigate the impact of individual difference on user perception of m-payment systems. The Expectation Confirmation Model (ECM) and Unified Theory of Acceptance and Use of Technology (UTAUT2) model factors (i.e. effort expectancy, performance expectancy, social influence, facilitating condition, habit, hedonic motivation, price value, trust and perceived risk) allow capture of data relating to two use perceptions; pre- and post-usage perception. The proposed model allows capture and comparison of pre-usage expectation and post-usage beliefs, allowing consideration of perception variance as a result of technology use. This model will be applied to gain a deeper insight into how to address users’ satisfaction, acceptance, and continuance usage of Near Field Communication m-payment technologies

Adoption of Mobile Financial Services among Rural Under-Banked

During the last decade, there has been tremendous growth in mobile penetration in many countries across the globe and most interestingly in a number of developing countries. On the other hand around, half of the world’s population is deprived of banking and financial services. This paper is based on a study that was aimed to identify drivers and inhibitors for adoption of MFS among the rural under-banked population and to compare the same with that of the existing studies. During the study, an extensive review of literature was conducted to identify the factors that were studied and found significantly affecting the adoption of mobile financial services. This was followed by an exploratory qualitative research conducted among the rural under-banked population of three distinct states in India. The findings of the study indicate that the demand for banking and financial services and the amount of hardships faced in availing these services through the existing channels of delivery can act as strong drivers for MFS adoption among the rural under-banked. On the other hand, factors like lack of trust on technology and lack of technology readiness were found to act as barriers to the adoption of MFS.

CRACKING THE CODE: WHAT MAKES MALAYSIAN MILLENNIALS EMBRACE MOBILE TECHNOLOGY?

The rapid growth of mobile shopping and the increasing use of smartphones and tablets for e-commerce transactions make understanding consumer acceptance crucial for businesses and app developers. This study investigates the factors influencing mobile technology acceptance among millennials in Malaysia, focusing on security, perceived ease of use, perceived usefulness, and the cost of operations. This research highlights the importance of addressing these dimensions for businesses and application developers to maintain millennials' interest in mobile technologies and remain competitive. A sample size of 384 millennial participants, selected using purposive sampling, contributed to the analysis of this study, which was collected using self-administered questionnaires. The data were analysed using SPSS version 28. The findings reveal that security and perceived usefulness significantly influence millennials' engagement with mobile technology. However, two dimensions, the perceived ease of use and the perceived cost of operations do not significantly impact mobile technology adoption. Therefore, this study offers valuable insights for organisations to develop effective mobile technology strategies and enhance millennial consumers' engagement with mobile technologies.  Article visualizations

The Factors of Consumer Intension of Using Mobile Payment in Vietnam

Purpose: Within the context of emerging mobile technologies, Mobile payment or M-payment has been introduced as the new trend for payment methods bringing more value and convenience to consumers. However, the development of M-payment services is still quite timid in some Southeast Asia countries including Vietnam. This is also the reason and motivation for the author to do this research.   Theoretical framework: The goal of this study is to spot some factors that affect the use behavior (UB) of M-payment consumers in five major metropolises that were most influential on the economy in Vietnam.   Design/methodology/approach: A quantitative questionnaire was used to measure the responses of participants and Partial Least Squares (PLS) method was employed to analyze the collection data as well as test all hypotheses.   Findings: The results indicated that SI has been the important factor leading to the BI to use M-payment followed by SV and SC issues and BI also had a strong influence on the UB of consumers. Since M-payment is still in the infancy stage and is one of the most exciting mobile applications for the next few years in Vietnam, the identification of important factors concerning M-payments.   Research, Practical & Social Implications: To investigate the factors affecting UB of Vietnamese M-payment consumers, the researcher proposed a research model which analyzes the impact of various variables extracted from system quality (ST), service quality (SV), security (SC), social influence (SI) on behavioral intention (BI) to use and BI on M-payment UB.   Originality/value: This study will assist merchants and software developers to design and improve the systems and services to ensure the full acceptance and continuous use of the systems. Finally, a set of suggestions for the subsequent research works also was listed at the end of this study