Mobile banking adoption: a rural Zimbabwean marketing perspective

Abstract

The purpose of this paper is to explore and discuss the determinants that inhibit mobile banking adoption by the rural unbanked in Zimbabwe. The researchers conducted an extensive literature search. The references consulted were categorically analysed and articles were considered to compile the findings of this paper. The study provides a contribution to practice by providing a better understanding of issues associated with mobile banking diffusion mechanisms that aid the adoption of mobile banking systems. The main findings of the research indicate that there is a slow and often annoying adoption of mobile banking within Zimbabwe by the rural unbanked due to a considerable number of inhibitive factors. This research reveals the nature of adoption that may reliably inform service providers about strategies to consider when appealing to this market segment. The study also shows that mobile banking adoption cannot ignore the use of marketing oriented factors in order to avoid the assumption of being myopic by considering only the product based variables to assess behavioural intention to adopt mobile banking services as identified in Technology Acceptance Model. However, the literature review also reveals that there are virtually no substantive theoretical researches which adequately extend the TAM using all the marketing mix elements. Therefore Technology Acceptance Model is extended using the marketing mix elements to better predict the behavioural intention to adopt mobile banking by the rural unbanked. This research, having studied the behaviour of the rural unbanked, argues that mobile banking service providers are likely to develop tailor-made integrated marketing mix strategies in order to financially include this market segment. The paper recommends for future research to use the additional marketing mix elements of physical evidence, processes and people in the adoption of mobile banking services by the rural unbanked.

The Intention in Online Submission of Micro Credit

“…Previous studies proved that the marketing mix influenced attitude toward behavior and attitude toward behavior affected intention were conducted by Ferdous (2010), Mosavi et al (2012), Dolatabadi et al (2012), Mbengo and Phiri (2015) as well as by Dahiya and Gayatri (2017).…”

“…This model will illustrate that there are a number of factors that influence user decisions in using elearning: Perceived Usefulness (PU) and Perceived Ease of Use (PEU). Mbengo and Phiri's (2015) review literature on mobile banking concludes that all elements of the marketing mix influence attitudes. Advertising (promotion) besides influencing attitudes also directly influences intention.…”

“…However, in relation to the application of online technology, intention theory has been commonly applied as in the study by Aboelmaged (2009) on e-procurement adoption, Lu et al (2010) on online tax filings, Hsiao and Tang (2013) on etextbooks. The addition of marketing variable in the study of intention was previously conducted by Lin et al (2010) and Mbengo and Phiri (2015) about marketing mix and Dolatabadi et al (2012) about Social Marketing Mix (SCM). Based on reviews from previous studies, the conceptual model of research on the intention of online businesses in applying for microcredit was proposed.…”

“…Previous research which also proved no significant effect of marketing on attitudes was carried out by Lin et al (2010) and Ye and Zhang (2014). However the results of the study of online shopping (Mbengo and Phiri 2015) and online banking (Mosavi et al 2012) proved marketing mix affected the intentions indirectly through attitude.…”

Determinants of Mobile Learning Systems Adoption in Zimbabwe Rural Secondary Schools

“…PEOU was also found to have a direct effect on the intention to adopt MLSs in rural secondary schools in South Africa. Zanzibar, and Zimbabwe (see respectively (Mbengo, Maxwell, & Phiri, 2015)).…”