Mobile Banking
Yu: Factors Affecting Individuals to Adopt Mobile Banking
FACTORS AFFECTING INDIVIDUALS TO ADOPT MOBILE BANKING: EMPIRICAL EVIDENCE FROM THE UTAUT MODEL
Chian-Son Yu Department of Information Technology and Management Shih Chien University # 70, DaZhi Street, Taipei, Taiwan csyu@mail.usc.edu.tw
ABSTRACT Fast advances in the wireless technology and the intensive penetration of cell phones have motivated banks to spend large budget on building mobile banking systems, but the adoption rate of mobile banking is still underused than expected. Therefore, research to enrich current knowledge about what affects individuals to use mobile banking is required. Consequently, this study employs the Unified Theory of Acceptance and Use of Technology (UTAUT) to investigate what impacts people to adopt mobile banking. Through sampling 441 respondents, this study empirically concluded that individual intention to adopt mobile banking was significantly influenced by social influence, perceived financial cost, performance expectancy, and perceived credibility, in their order of influencing strength. The behavior was considerably affected by individual intention and facilitating conditions. As for moderating effects of gender and age, this study discovered that gender significantly moderated the effects of performance expectancy and perceived financial cost on behavioral intention, and the age considerably moderated the effects of facilitating conditions and perceived self-efficacy on actual adoption behavior. Keywords: mobile banking, UTAUT, wireless commerce, technology adoption 1. Introduction With the recently quick growth in the market of 3G smart mobile phones, the wireless service delivery channel becomes a promising alternative for firms to create commercial opportunities. However, despite many wireless commercial services increase quickly, the use of mobile banking service is much lower than expected [Cruz et al. 2010] and still underused [Huili & Chunfang 2011], and the
FACTORS AFFECTING INDIVIDUALS TO ADOPT MOBILE BANKING: EMPIRICAL EVIDENCE FROM THE UTAUT MODEL
Chian-Son Yu Department of Information Technology and Management Shih Chien University # 70, DaZhi Street, Taipei, Taiwan csyu@mail.usc.edu.tw
ABSTRACT Fast advances in the wireless technology and the intensive penetration of cell phones have motivated banks to spend large budget on building mobile banking systems, but the adoption rate of mobile banking is still underused than expected. Therefore, research to enrich current knowledge about what affects individuals to use mobile banking is required. Consequently, this study employs the Unified Theory of Acceptance and Use of Technology (UTAUT) to investigate what impacts people to adopt mobile banking. Through sampling 441 respondents, this study empirically concluded that individual intention to adopt mobile banking was significantly influenced by social influence, perceived financial cost, performance expectancy, and perceived credibility, in their order of influencing strength. The behavior was considerably affected by individual intention and facilitating conditions. As for moderating effects of gender and age, this study discovered that gender significantly moderated the effects of performance expectancy and perceived financial cost on behavioral intention, and the age considerably moderated the effects of facilitating conditions and perceived self-efficacy on actual adoption behavior. Keywords: mobile banking, UTAUT, wireless commerce, technology adoption 1. Introduction With the recently quick growth in the market of 3G smart mobile phones, the wireless service delivery channel becomes a promising alternative for firms to create commercial opportunities. However, despite many wireless commercial services increase quickly, the use of mobile banking service is much lower than expected [Cruz et al. 2010] and still underused [Huili & Chunfang 2011], and the
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