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“Barriers in Internet and Mobile Banking Adoption

In India”

INTRODUCTION

The purpose of this research is to compare the perceptions of Internet banking and

Mobile phone banking adoption in India. India is a middle-income developing

country. This context offers a different perspective to that of the mainstream

literature, which often assumes a developed country context. In a globalized

environment, however, these multiple perspectives need all be accorded dueattention. The banking business has always been in the forefront of harnessing

technology to improve its services and efficiency. Banks have been quick to adopt

rapidly evolving electronic and telecommunication technologies to deliver an

extensive line of value added products and services to their customers. By the early

1990s, direct dial-up connections, personal computers, Mobile banking and

automated teller machines (ATMs) became common in most developed nations.

NEED FOR THE STUDY

The phenomenon has been undertaken keeping in view that internet and mobile

banking is the next version to wireless banking. As internet and mobile banking

has emerged in India.

The banking industry is an extremely information intensive industry

and remains at the forefront of advanced use of information technology. Most

banks are continually looking for alternative ways of relating to customers, reduce

costs, improve efficiencies, and differentiate products and services.

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The future growth of Internet and Mobile Banking depends to large

extent on whether or not consumers accept and use them. Thus, much research

attention has been focused on examining consumer perceptions of new information

technology, and whether they intend to use it. These studies identify levers that can

be used to enhance the adoption rate. The theoretical basis for much of this work

has been the technology acceptance model (TAM), and the perceived

characteristics of innovation (PCI) model.

OBJECTIVES OF THE STUDY

To research the changing in electronic banking services technology

environment in the 21st century.

To understand the concept of electronic banking with relation to internet and

mobile .

To identify the various barriers like Access problems, Dissatisfaction and

inability of service providers in the adoption of Internet and Mobile Banking

Service.

To suggest way to improve the performance of models at different electronic

banking services technology .

To analyze E- banking practices and its potential in India.

To study the perceived utility of various Mobile banking services.

To study the influence of demographic variables on Mobile banking usage.

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SCOPE OF THE STUDY

The survey will be conducted on the low income markets, which are mainly based

in townships, informal settlement and rural areas. The research will cover the

following main constructs: adoption of mobile banking, perceived usefulness,

perceived ease of use, perceived cost, customer’s trust and perceived risk. This

research will be based on the technology acceptance model (TAM) (Davis, 1989)

as a research model.

DATA COLLECTION

The data have been grouped into two main categories –

primary data

secondary data

The secondary data have been compiled from newspaper, journals, magazines, and

web links and also research papers.

The primary data have been collected through an exploratory research –

Questionnaire with user and non-user of internet and mobile banking basically

Businessmen, servicemen, professionals, students etc.

TOOLS FOR COLLECTING DATA

Survey

Questionnaire

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METHODS FOR DATA ANALYSIS

Cronbach’s Coefficient Alpha and Factor Analysis.

Chi Square Test.

Kolmogorov-Smirnov test.

Product moment

Correlation and Frequency analysis.

EXPECTED FINDINGS OF THE STUDY

Findings suggest that customers ’security concern is the major barrier in adopting

mobile banking services. As far as preferred services are concern balance check

tops, as customers prefer information based services rather than financial services

provided by the bank.

Findings suggest that customers’ security concern is the major barrier in

adopting mobile banking services. As far as preferred services are concern balance

check tops, as customers prefer information based services rather than financial

services provided by the bank.

The results show that people at the BOP will adopt mobile banking services

when the mobile banking service providers (both the banks and mobile network

provider) are perceived to be trustworthy. Customer’s trust of mobile banking

Service providers has a direct effect on the customer’s loyalty. Trust has a negative

significant correlation with perceived risk, and trust can play a role in mitigation of

risk. The results show perceived risk had no effect on the adoption of mobile

banking services by the BOP.

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LIMITATIONS

E-commerce businesses searching for methods to engage its target market or

expand its reach to a new market segment should look into mobile

commerce, or M-commerce. Businesses that engage in mobile commerce

sell goods or services through mobile devices.

Speed of Delivery: Mobile phones are more limited in terms of speed than

computers; therefore, mobile websites must be optimized to ensure customer

satisfaction. This means removing all images that are not vital, plus

eliminating flash, scripts and plug-ins.

Small Screen Size: While businesses are used to formatting information for

monitors, the average mobile phone screen is only 2 by 3 inches. This means

that the business should reduce the amount of information presented, number

of steps for checking out and ensure a maximum amount of background and

text contrast.

Security: Cell phones are more commonly lost or stolen than laptops, so

companies must ensure that the security of its customers are not

compromised in case this occurs. This includes not storing sensitive

information on their mobile devices, as well as making it fast and simple for

them to change passwords.

In addition, there are concerns about data encryption, protecting the wireless

connection from unauthorized access, hackers and viruses.

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