Determinants of Mobile Banking Adoption in the Ghanaian Banking Industry: A Case of Access Bank Ghana Limited

Abstract

The study examined the determinant of mobile banking adoption among bank customers in Ghana, with specific emphasis on Access Bank. In line with literature, the study applies theoretical frameworks which have been developed from existing literatures on innovation and adoption to collect responses from one hundred and fifty (150) sampled customers of Access Bank in order to investigate the determinants of mobile banking adoption in the Ghanaian banking industry. The results from the study revealed that, each factor measured had some level of significant effect on consumer intention to adopt and use mobile banking services provided by Access Bank. Additionally, the study unveiled that, perceived credibility and perceived financial cost were the major setback with regards to customers adoption of mobile banking services provided by Access Bank, and as a result of this, Ghanaians have formed a negative behavioural pattern towards mobile banking. In addition, the findings showed that, perceived credibility and perceived financial cost have a stronger effect on consumer intention to adopt and use mobile banking service than perceived usefulness and perceived ease of use. It was, therefore, recommended that banks in Ghana should create more awareness through personal interaction with customers, develop quality initiatives in order to build customer's confidence. Equally, banks should also review the cost of their mobile banking service.

Banking Access for the Poor: Adoption and Strategies in Rural Areas of Bangladesh

“…Applications of mobile banking in Bahrain has been growing up rapidly and expected to increase in the coming year; most of the banks of Bahrain now operate mobile banking due to the popularity of this service (AlSoufi & Ali, 2014). However, the economy where banking access is comparatively higher, adoption of mobile banking seems to lower (Cudjoe, Anim, & Nyanyofio, 2015).…”

“…Findings of the researchers on the mobile banking adoption have been summarized in Table 1. (2014) violence, intention Afghanistan (Nayak, Nath, & Goel, 2014) awareness, perceived usefulness, perceived ease of use, trust India K. S. Lee et al (2015) perceived risk, trust, and perceived usefulness South Korea (Cudjoe et al, 2015) perceived credibility, perceived financial cost, perceived usefulness and perceived ease of use Ghana 3.0 Theoretical framework and hypotheses development…”

Conditional Determinants of Mobile Phones Penetration and Mobile Banking in Sub-Saharan Africa

“…They conclude that cross-country variations in mobile banking adoption are explained by several parameters: pace of uptake, ease-of-use, usage frequency, services adopted and household type. Cudjoe et al (2015) have recently investigated factors motivating mobile banking adoption in Ghana from 150 sampled Access Bank customers to establish that perceived financial cost and credibility are the main setbacks to the adoption of mobile banking practices offered by the underlying bank. These two factors also outweigh perceived usefulness and ease-of-use in adoption intentions.…”

“…(ii) The mobile banking literature has been based on survey data for the most part and focused on mobile banking adoption intensions (Gu et al, 2009 ;Medhi et al, 2009;Daud et al, 2011;Akturan & Tezcan, 2012 ;Kazi & Mannan, 2013;Alsheikh &Bojei, 2014 ;Cudjoe et al, 2015). We also complement this strand by using macroeconomic determinants classified into six main categories, consisting of 25 variables.…”

Comparative Human Development Thresholds for Absolute and Relative Pro-Poor Mobile Banking in Developing Countries

“…mainstream survey-based, country-specific and microeconomic studies (Kazi & Mannan, 2013;Alsheikh & Bojei, 2014;Cudjoe et al, 2015).…”