Factors Impacting Mobile Banking in India: Empirical Approach Extending UTAUT2 with Perceived Value and Trust

The aim of this research is to study the factors impacting usage of mobile banking (mBanking) by consumers in India. The study adopts the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) with Social Value (SV), Monetary Value (MV), Emotional Value (EV), Quality Value (QV), Trust and the moderation effect of gender. Online and offline survey methods were used to collect primary data from 457 Indian consumers using mBanking. SPSS AMOS was utilized to empirically validate the conceptual model, test research hypothesis and moderation effect. The factors effort expectancy (EE), monetary value (MV), emotional value (EV), quality value (QV) and trust (TR) were found to be significant on behavioural intent (BI), whereas performance expectancy (PE) and social value (SV) were not found to be significant. Banking organizations can formulate strategies to attract new consumers and continue to engage in retaining consumers in using these influencing factors to adopt mBanking and other related mobile financial services (MFS). The study integrates perceived value components and trust with UTAUT2 to form a comprehensive model for examining mBanking adoption.