Investigating resistance factors that affect mobile banking usage

Abstract

An overlooked component of innovative service adoption is consumers’ resistance factors. Mobile banking is no exception and the present study focuses on these barriers, especially those pertaining to usage, time and risk, privacy and trialability. Moreover, this study further investigates the extent to which financial literacy may offset these barriers as financially literate users might be persuaded to overlook resistance barriers. The findings of the survey study, based on 405 respondents, confirm this conjecture in terms of financial activeness. The more financially active a user, the increased likelihood that he or she might be able to overcome resistance barriers and decide to adopt mobile banking. This conclusion was reached after analyzing the results of original research consisted of questionnaires which determined the participants’ levels of mobile banking usage as well as the level of their financial literacy. The results of this study will be of considerable interest to financial service providers and managers as it delivers vital information pertaining to potential and existing users of mobile banking.