Assessing the Determinants of Adoption of M-Banking by Students: A Study Using an Extended TAM Model

Introduction

Technology has become important part in almost everyone’s lives. The innovations in technology have modernized our society as well as the way business is done. The Banking Industry is the one which is most significant in terms of information technology and various other innovations in transactions processing. These innovations have altered the way customers conduct their day to day operations. Among all the revolutions, Mobile Banking (m-banking) is the latest development in electronic bank services, allowing customers to access banking facilities 24*7, while allowing banks to cut their costs and at the same time increase their revenues by attracting customers. Today mobile banking applications are considered as an emergent activity and one of the future payment tools (Ondrus & Pigneur, 2006). The term mobile banking (m-banking) has been widely used to describe a division of electronic banking and refers to the system that allows customers to conduct financial transactions via mobile devices. It is an open Internet technology which is not dependent on any specific service provider or mobile company. These mobile based services have made an immense effect on the banking sector, generating flexible payments methods and user-friendly banking services. It has led to an intense revolution because of its economic and social influence (Ghezzi et al., 2010).According to Cellular Operators Association of India, GSM telecom subscribers added 4.49 million in August 2015 (0.62% increased from previous month), taking all- India GSM subscriber base to 726.10 million. The Table 1 shows the increment/decrement of mobile subscribers in India in last 12 months.

According to a report published by Juniper Research (KPMG analysis), the number of global mobile subscribers is set to continue rising very rapidly from 0.8 billion in 2014 to 1.8 billion by 2019.