A survey of consumer adoption of mobile Phone banking in Kenya

Abstract

The study aimed at shedding light on adoption Mobile phone banking a relatively new concept in the Kenyan banking sector. The objectives of the study were to specifically establish what are the main factors affecting consumer adoption of mobile phone banking in Kenya. Secondly, based an adopted model from Fishbein and Ajzens model of theory of planned behaviour establish the extent to which intention affects adoption of Mobile phone banking in Kenya. The findings of a sample of 67 respondents (32 respondents were users of mobile phone banking and 35 were non-users of mobile phone banking.) indicated that a number of factors are important for consumer adoption of mobile phone banking services. The factor included Keypad user friendliness, Cost of the service, security of the service, degree of service security cost of using the service, Importance of confidence, chance to try the service before use, amount of influence ease of use of the service, and importance of the support to use the service. Confirmatory factor analysis established that attitude, subjective norm, perceived behavioral control and intention were among the most influencing factors of adoption of the mobile phone banking. The first three factors attitude, subjective norm and perceived behavioral control had high factor loadings and the fact that they stem from intention (figure 2.7). This confirms that, the intention does influence adoption of mobile phone banking in Kenya to a great extent.