Determinants of consumers’ intention to adopt mobile banking services in Zimbabwe

Abstract

Purpose The purpose of this paper is to investigate the determinants of consumers’ intention to adopt mobile banking services in Zimbabwe. Design/methodology/approach A survey of 232 bank customers was conducted in Chinhoyi, Zimbabwe, using a structured questionnaire with Likert-type questions. Customers were randomly intercepted as they walked out of five major banks. Structural equation modelling, independent-samples t-test and one-way ANOVA were used to test research hypotheses. Findings The study found that perceived usefulness, perceived self-efficacy, social influence, relative advantage and perceived compatibility all have a positive effect, whilst perceived risk has a negative effect on behavioural intention to adopt mobile banking services in Zimbabwe. Perceived ease of use, facilitating conditions, perceived complexity, perceived trialability, awareness-knowledge and demographic factors (gender, age, education and income) did not significantly influence behavioural intention to adopt mobile banking. Perceived ease of use was found to positively influence perceived usefulness, while perceived self-efficacy was found to have a positive effect on perceived ease of use. Behavioural intention was found to positively influence usage of mobile banking services in Zimbabwe. Research limitations/implications Data were collected from bank customers in Chinhoyi, one of the emerging towns in Zimbabwe. Future research should be expanded to include other major cities in Zimbabwe and other countries. More similar studies should be conducted to test the factors identified in literature in different contexts and markets and on other innovations. Practical implications The study advises banks to pay particular attention to perceived usefulness, perceived self-efficacy, social influence, relative advantage, perceived compatibility and perceived risk when designing new mobile banking services. Originality/value There is not a unified position regarding factors influencing mobile banking adoption. Factors vary with contexts, markets, time and types of innovations. The study tested some major factors identified in literature in the context of Zimbabwe.

Generating and Assessing Consumer’s Innovation Adoption through Consumer Innovativeness, Innovation Characteristics and Perceived Brand Innovativeness

“…The last impacting factor among innovation characteristics was perceived risk. This finding was also in line with the previous studies that found the negative impact of it (Laforet & Li, 2005;Makanyeza, 2017;Tan & Teo, 2000). Since this study included only users of mobile banking, perceived risk was not an important barrier to adoption, however, its' effect was significant.…”

“…The innovation adoption generally relies on the analysis of consumer characteristics whose already having purchased the innovation rather than the ones that have not purchased yet; in order to separate adoption intention (Gupta & Arora, 2017;Makanyeza, 2017;Zhou, 2012) and actual behavior (Greer & Murtaza, 2003;Im et al, 2003;Szopiński, 2016).…”

“…As the theory of consumers' perceived risk suggests, consumers will perceive risk when there is an uncertainty or potential threat that will cause a loss for the consumer as a result of purchase (Dowling & Staelin, 1994). It is commonly emphasized in the literature that perceived risk significantly effects innovation adoption (Akturan & Tezcan, 2012;Arif et al, 2016;Bagadia & Bansal, 2016;Brown et al, 2003;Koenig-Lewis et al, 2010;Makanyeza, 2017;Rogers, 1995). With these in mind, previous researches have shown that perceived risk can result in negative attitude for mobile banking adoption (Akturan & Tezcan, 2012;Arif et al, 2016;Bagadia & Bansal, 2016).…”

Mobile Banking Adoption and its Determinants in Malaysia

“…Correspondingly, those who consider mobile banking useless are not expected to accept it. The study findings confirmed the existing studies that perception of usefulness heightens the adoption of latest technologies [12], [13], [24], [31]. In addition, the findings indicate that mobile banking users think operating mobile banking is effortless and is easy to learn it.…”

“…Mobile banking services can be grouped that is transaction-based; which include transferring funds, payments of utility bills, prepaid reload and online shopping while non-transaction based including balance check, transaction history and verification of transaction [13].…”