Exploring the Factors that Influence the Adoption of Internet Banking in Ghana

The purpose of this study is to investigate the key determinates of the adoption of internet banking in Ghana through the theoretical lens of an extended Unified Theory of Acceptance and Use of Technology (UTAUT) model. A questionnaire was developed based on previous works in the area of technology acceptance and internet banking. Questionnaires were distributed through two banks in Ghana to customers as they enter each bank’s main office. Data relating to constructs were collected from 273 customers and subjected to structural equation modelling (SEM) analysis. Confirmatory factor analysis was performed to examine the reliability, construct validity convergent validity and goodness of fit of the structural and measurement model. The result of the study found support for the influence of performance expectancy, effort expectancy, social influence, perceived credibility on behavioural intention and it positively supported the relationship between behavioural intention and usage behaviour. However, the relationship between facilitating conditions was not supported. This study is one of the first internet banking studies to have culled an additional construct (perceived credibility) from internet banking research into the UTAUT model to investigate the adoption of internet banking in a Sub-Saharan Africa context of Ghana.