Factors affecting the behavioral intention to adopt mobile banking: An international comparison

• Published in: Technology in society 2020-11, Vol.63, p.101360, Article 101360
• Main Authors: Ho, Jonathan C., Wu, Chorng-Guang, Lee, Chung-Shing, Pham, Thanh-Thao T.
• Format: Article
• Language: English
• Subjects: Adoption of innovations; Banking; Business competition; Consumers; Decomposed theory of planned behavior; Diffusion; Diffusion of innovation; Financial institutions; Indirect effects; Innovations; International comparison; International comparisons; Locus of control; Mobile banking; Mobile commerce; Norms; Online banking; Perceived control; Risk perception; Self-efficacy; Technological change; Technology; Technology Acceptance Model; Technology utilization; Theory of planned behavior; Usefulness
• ISSN: 0160-791X; 1879-3274
• DOI: 10.1016/j.techsoc.2020.101360

Over the past decade, the markets for mobile and wireless services have been among the world's fastest-growing, especially in Asian countries, presenting financial institutions with significant opportunities to offer value-added services. Mobile banking has since emerged as a new channel enabling the banks to react strategically to changes in competitive forces and to enhance customer convenience. Based on Diffusion of Innovations (DOI) theory, the Technology Acceptance Model (TAM), the Decomposed Theory of Planned Behavior (DTPB) model, this study develops an integrated model to provide a fuller understanding of factors facilitating or impeding the adoption of mobile banking, focusing on consumers in Taiwan and Vietnam. While subjective norms had a significant effect on the intention to adopt, three attributes of mobile banking (compatibility, perceived usefulness, and perceived risk) were found to have indirect effects on intention to adopt mobile banking through attitude toward adoption for consumers in both Taiwan and Vietnam. Intention to adopt mobile banking was indirectly influenced by self-efficacy and facilitating conditions, and directly affected by perceived behavioral control in both nations. Some differences in intention to adopt mobile banking between Taiwanese and Vietnamese are also discussed. Based on the research findings, managerial implications for financial institutions and mobile service providers are discussed. •Mobile banking has not well adopted in consumer markets.•An integrated model was applied to mobile banking adoption in Taiwan and Vietnam.•The theory of innovation diffusion is sustained except the perceived ease of use.•The theory of perceived behavioral control is sustained except the subjective norms.•Differences between the two nations are in trialability and innovativeness.