FACTORS INFLUENCING THE ADOPTION OF MOBILE BANKING IN INDIA

Abstract

Mobile banking is a service which helps customers to do banking on their cell phones anywhere, anytime with the help of a bank and a mobile service. It helps in carrying out activities such as checking account balances, account statements, and transfer of money from one account to another account and thus removing the space and time constraints.

Information technology has been used to develop the banking services that can be used on mobile handset and has fundamentally been used under communication & connectivity and business process. During the past decade, the advancement in technology has remoulded the way in which the banking was done. With the coming of new technologies and increased disposable income in India, number of people using internet on mobile handset has been incredibly increased. The population of India is 125 crore and the internet penetration in the country is only 20-25% (Wikipedia.com). Thus, increasing the scope of using mobile banking in the country. The study focusses on many factors such as perceived usefulness, perceived credibility, speed, influence on society, perceived ease of use and consumer awareness.

A questionnaire has been constructed, and data has been collected from 254 respondents by using convenient sampling method. Based on the data collected, hypothesis testing has been done and regression analysis has been done and the correlation of various factors has been identified.