M-banking technology has brought in a paradigm shift in banking operations (Palani & Yasodha, 2012). The literature shows that scholars used numerous theories and conceptual framework to study m-banking adoption in various countries. Lee and Chung (2009) used Hofstede's cultural dimensions and the bass diffusion model to examine cultural differences of mobile phone adoption in South Korea and the United States. They concluded that in individualistic cultures such as the United States, people sought information on their own from direct and formal sources, whereas in collectivistic cultures such as South Korea, people relied on other-like-minded individuals who previously used the technology to decide on the adoption. Dinev et al. (2006) used the privacy calculus theory to conduct a cross-cultural study between the United States and Italy. They found that compared to Americans, Italians had a lower propensity to trust, lower institutional trust, and a higher perceived risk (Dinev et al., 2006).