CONSUMER ACCEPTANCE OF ONLINE BANKING: APPLICATION OF TECHNOLOGY ACCEPTANCE MODEL
Download| Volume 14 Issue 2 2018 | |
|---|---|
| Author(s): |
Sobia Zaman
Hamza Bhatti
Mian Asif Khurshid
|
| Abstract | This research reports the findings of a study concerning the acceptance of online banking in Pakistan. It investigates customer adoption within the context of Pakistan online banking services whereby the research framework is based on the extension of the Technology Acceptance Model. The research model included factors that would influence the acceptance of online banking. The framework dimensions include online banking usage, quality of internet connection, perceived enjoyment, perceived usefulness, perceived ease of use, and security & privacy. A survey was conducted to gather the data for the study. Reliability, correlation, and factor analysis were used to analyze the data. Results showed that quality of internet connection, amount of information on online banking, and security and privacy have a positive influence on online banking usage. Theoretical contributions and practical implications of the findings are discussed in the paper and suggestions for future research are proposed. |
| Keywords | Online Banking, Attitude, TAM, Perceived Enjoyment, Security & Privacy |
| Year | 2018 |
| Volume | 14 |
| Issue | 2 |
| Type | Short Report |
| Recognized by | Higher Education Commission of Pakistan, HEC | Category | "Y" | Journal Name | IBT Journal of Business Studies | Publisher Name | ILMA University | Jel Classification | D18, N75 | DOI | http://dx.doi.org/10.46745/ilma.jbs.2018.14.02.04 | ISSN no (E, Electronic) | 2409-6520 | ISSN no (P, Print) | 2416-8393 | Country | Pakistan | City | Karachi | Institution Type | University | Journal Type | Open Access | Type of Review | Double Blind Peer Reviewed | Format | Paper Link | http://ibtjbs.ilmauniversity.edu.pk/journal/jbs/14.2/4.pdf | Page | 41-52 | References | Adams, D., Nelson, R. & Todd, P. (1992). ‘Perceived usefulness, ease of use, and usage of information technology: a replication.’ MIS Quarterly, Vol.16, pp.227-247. Agarwal, R. & Prasad, J. (1999). ‘Are individual differences germane to the acceptance of new information technologies?’ Decision sciences, Vol.30, pp.361-391. Ajzen, I. & Fishbein, M. (1980). ‘Understanding attitudes and predicting social behavior,Englewood Cliffs,’ N.J., Prentice-Hall. Alalwan, A. A., Dwivedi, Y. K., Rana, N. P., Lal, B., & Williams, M. D. (2015). Consumer adoption of Internet banking in Jordan: Examining the role of hedonic motivation, habit, self-efficacy and trust. Journal of Financial Services Marketing, 20(2), 145- 157. Bankole, F. O., Bankole, O. O., Brown, I., 2011. Mobile banking adoption in Nigeria. The Electronic Journal on Information Systems in Developing Countries 47(2), 1 – 23. Black, P. J.; Harrison, C.; Lee, C.; Marshall, B. & Wiliam, D (2002). ‘Working inside the black box: Assessment for learning in the classroom’. London, UK: nferNelson Chang, H. (2008). ‘Intelligent agent's technology characteristics applied to online auctions’task: A combined model of TTF and TAM.’ Technovation,Vol. 28, pp.564- 577. Chau, Y.K. Hu, J.H (2000), Information technology acceptance by individual professionals: a model comparison approach, Decision Science, Vol.34, No.4 pp.699-719. Chen, K. and Yen, D. (2004). Improving the Quality of Online Presence Through Interactivity, Information and Management, 42(1), pp. 217-226. Davis, F.D. (1989). Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology. MIS Quarterly, Vol. 13, No 3, pp. 318-339. Fishbein, M. & Ajzen, I. (1975). ‘Belief, attitude, intention and behavior: An introduction to theory and research. Reading,’ MA:Addison-Wesley. Gentry, L., and Calantone, R. (2002). “A comparison of the three models to explain Shop- bot use on the web”. Psychology & Marketing, Vol.19 No.11, pp. 945-956. Goodhue, D. & Thompson, R. (1995). ‘Task-technology fit and individual performance.’ MIS Quarterly. 19, 213-236. Hardgrave, B. & Johnson, R. (2003). ‘Toward an information systems development acceptance model: the case of object-oriented systems development.’ IEEE Transactions on Engineering Management, Vol.50, pp.322-336. Hong, W., Thong, J., Wong, W. & Tam, K. (2002). ‘Determinants of user acceptance of digital libraries: an empirical examination of individual differences and system characteristics.’ Journal of Management Information Systems, Vol.18, pp.97-124. Howcroft, B., Hamilton, R., and Hewer, P. (2002). ‘Consumer attitude and the usage and adoption of home-based banking in the United Kingdom.’ International Journal of Bank Marketing, Vol. 20 No. 3, pp. 111-21. Hu, P.J.H., Ma, P.C. and Chau, P.Y.K. (1999b).’Evaluation of user interface designs for information retrieval systems: a computer-based experiment.’ Decision Support Systems, Vol.27, pp.125–143. Hwang, Y. (2005). ‘Investigating enterprise systems adoption: uncertainty avoidance, intrinsic motivation, and the technology acceptance model.’ European Journal of information Systems, 14, 150-161. Jackson, C., Chow, S. & Leitch, R. (1997). ‘Toward an understanding of the behavioral intention to use an information system.’ Decision sciences, Vol.28, pp.357-389. Jahangir, N. and N. Begum (2008), “The role of perceived usefulness, perceived ease of use, security and privacy, and customer attitude to engender customer adaptation in the context of electronic banking,” African Journal of Business Management, 2(1), 32-40. Jayawardhena, C. and Foley, P., (2000). Changes in the banking sector: the case of internet banking in the UK. Internet Research: Electronic Networking Applications and Policy, 10 (1), pp.19 – 30. Johansson, A. (2016). Security and internet banking: How satisfied are users with internet banking security? Jun, M. and Cai, S., (2001). The key determinants of internet banking service quality: a content analysis. International Journal of Banking Marketing, 19(7), pp. 276 – 291. Kim, J.K., T.Y. Moon and I.B. Yoon (2001) Systematics of Vespine Wasps from Korea, I. Genus Vespa Linnaeus (Vespidae: Hymenoptera). Korean J. Entomol. 24(2):107- 115. Lederer, A., Maupin, D. Sena, M. & Zhuang, Y. (1998). The role of ease of use, usefulness and attitude in the predicting of World Wide Web usage. In proceeding of the 1998 Association for Computing Machinery Special Interest Group on Computer Personal Research Conference, 195-204. Lee, K. W., Tsai, M. T., & Lanting, M. C. L. (2011). From marketplace to marketspace: Investigating the consumer switch to online banking. Electronic Commerce Research and Applications, 10(1), 115–125. Legris, P., Ingham, J., Collerette, P., (2003), “Why do people use information technology? A critical review of the technology acceptance model”, Information & Management, Vol. 40, No.3, pp.191-204. Mansor, N. and Abidin, F (2010). ‘The application of E- Commerce Among Malaysian Small Medium Enterprises’, European Journal of Scientific Research, Vol 41, Issue 4, pp 591 – 605. Mathieson, K. (1991). ‘Predicting user intentions: comparing the technology acceptance model with the theory of planned behavior’. Information System Research, Vol.2, No.3, pp.173-191. Md Nor, K., Pearson, J. M., & Ahmad, A. (2010). Adoption of internet banking theory of the diffusion of innovation. International Journal of Management Studies (IJMS), 17(1), 69-85. Nehmzow, C. (1997). ‘The internet will shake Banking Mediveal Fondations,’ Journal of Internet Banking and Commerce, Vol. 2, No.2. Nor, K. M., & Pearson, J. M. (2015). The influence of trust on internet banking acceptance. The Journal of Internet Banking and Commerce, 2007. Orr, B. (2001), “E-banking: what next?”, ABA Banking Journal, pp. 40-6. Pikkarainen, T., Pikkarainen, K., Karjaluoto, H., Pahnila,S., (2004), ‘Consumer Acceptance of online banking: an extension of the technology acceptance model’. Internet Research, Volume 14 No. 13, pp,224-235. Polatoglu, V.N. and Ekin, S. (2001), “An empirical investigation of the Turkish consumers’ acceptance of Internet banking services”, International Journal of Bank Marketing, Vol. 19 No. 4, pp. 156-65. Pyun, C.S, Les, S., & Kiseok, N. (2002). ‘Internet banking in the U.S., Japan and Europe.’ Multinational Business Review, 10(2), 73. Roboff, G. and Charles, C. (1998), “Privacy of financial information in cyberspace: banks addressing what consumers want”, Journal of Retail Banking Services, Vol. XX No. 3, pp. 51-6. Sathye, M. (1999). ‘Adoption of internet banking by Austrailian consumer: an empirical investigation’. International of Bank Marketing, Vol.17, No. 7, pp.324-334. Schneider, I. (2001), “Is time running out for Internet-only banks?”, Bank Systems & Technology, September, p. 8. Sheshunoff, A. (2000). Internet banking--An update from the frontlines. American Bankers Association. ABA Banking Journal, 92(1), 51. Sherry, J.L., (2004). Flow and Media Enjoyment. Communication Theory, vol. 14, no. 4, pp. 328–347. Sheshunoff, A. (2000), “Internet banking – an update from the frontlines”, ABA Banking Journal, January, pp. 51-3. Straub, D., Keil, M. & Brenner, W. (1997). ‘Testing the technology acceptance model across cultures: A three country study.’ Information & Management, Vol. 33, pp.1-11. Succi, M.J. and Walter, Z.D. (1999), “Theory of user acceptance of information technologies: an examination of health care professionals”, Proceedings of the 32nd Hawaii Conference on System Sciences (HICSS), pp. 1-7. Swanson, E. (1988). ‘Information System Implementation: Bridging the gap between design and utilization.’ Irwin. Homewood. IL. Szajna, B. (1996). ‘Empirical evaluation of the revised technology acceptance model’. Management Sciences Vol. 42 No.1 pp.85-92. Szopiński, T. S. (2016). Factors affecting the adoption of online banking in Poland. Journal of Business Research, 69(11), 4763-4768. Tarhini, A., Mgbemena, C., Trab, M. S. A., & Masa’deh, R. (2015). User adoption of online banking in Nigeria: A qualitative study. The Journal of Internet Banking and Commerce, 20(3). Taylor, S., Todd, P.A., (1995). ‘Understanding information technology usage: a test of competing models. Information System Research, Vol.6, No. 2, pp.144-176. Venkatesh, V. (2000). ‘Determinants of perceived ease of use: Integrating control, intrinsic motivation, and emotion into the technology acceptance model.’ Information systems research, Vol.11, pp.342-365. Venkatesh, V. and Davis, F.D. (1996). ‘A model of the Perceived Ease of Use: Development and Test’, Decision Sciences, Vol.27, No. 3 pp.451-481. Westin, A.F. and Maurici, D. (1998), “E-commerce & privacy: what the net users want”, Privacy & American Business, and PricewaterhouseCoopers LLP, New York, NY. |