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Factors Impacting Mobile Banking in India: Empirical Approach Extending UTAUT2 with Perceived Value and Trust

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  • Raja Sankaran
  • Shibashish Chakraborty

Abstract

The aim of this research is to study the factors impacting usage of mobile banking (mBanking) by consumers in India. The study adopts the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) with Social Value (SV), Monetary Value (MV), Emotional Value (EV), Quality Value (QV), Trust and the moderation effect of gender. Online and offline survey methods were used to collect primary data from 457 Indian consumers using mBanking. SPSS AMOS was utilized to empirically validate the conceptual model, test research hypothesis and moderation effect. The factors effort expectancy (EE), monetary value (MV), emotional value (EV), quality value (QV) and trust (TR) were found to be significant on behavioural intent (BI), whereas performance expectancy (PE) and social value (SV) were not found to be significant. Banking organizations can formulate strategies to attract new consumers and continue to engage in retaining consumers in using these influencing factors to adopt mBanking and other related mobile financial services (MFS). The study integrates perceived value components and trust with UTAUT2 to form a comprehensive model for examining mBanking adoption.

Suggested Citation

  • Raja Sankaran & Shibashish Chakraborty, 2021. "Factors Impacting Mobile Banking in India: Empirical Approach Extending UTAUT2 with Perceived Value and Trust," IIM Kozhikode Society & Management Review, , vol. 11(1), pages 7-24, January.
    • Handle: RePEc:sae:iimkoz:v:11:y:2021:i:1:p:7-24
    DOI: 10.1177/2277975220975219
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    2. Issam AlHadid & Evon Abu-Taieh & Rami S. Alkhawaldeh & Sufian Khwaldeh & Ra’ed Masa’deh & Khalid Kaabneh & Ala’Aldin Alrowwad, 2022. "Predictors for E-Government Adoption of SANAD App Services Integrating UTAUT, TPB, TAM, Trust, and Perceived Risk," IJERPH, MDPI, vol. 19(14), pages 1-26, July.
    3. Vikram Choudhary & Rajesh K Aithal, 2023. "Low-cost Technologies for Kirana (Small) Retail: A Game Changer?," IIM Kozhikode Society & Management Review, , vol. 12(2), pages 250-258, July.
    4. (corresponding author) Afnaan Ahmed & S.M. Raihan Uddin & S.M. Rifat Hassan, 2022. "Factors Affecting Consumer Behaviour In Mobile Financial Services In Bangladesh," Asia-Pacific Sustainable Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 29(1), pages 143-167, May.
    5. de Blanes Sebastián, María García & Antonovica, Arta & Sarmiento Guede, José Ramón, 2023. "What are the leading factors for using Spanish peer-to-peer mobile payment platform Bizum? The applied analysis of the UTAUT2 model," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    6. Abdulrahman Andijani & Kyeong Kang, 2022. "Social Commerce Acceptance after Post COVID-19 Pandemic in Saudi Women Customers: A Multi-Group Analysis of Customer Age," Sustainability, MDPI, vol. 14(16), pages 1-19, August.

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    Keywords

    Mobile banking; UTAUT2; perceived value; trust; moderator; gender;
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