ASSESSMENT OF FACTORS CONTRIBUTING TO ADOPTION OF MOBILE FINANCIAL SERVICES: A PERSPECTIVE OF BANGLADESH

Abstract

Due to the unimaginable advancement and transformation in the mode of
communications, traditional payment methods are becoming obsolete and
going to be replaced by mobile payment apps as a smart medium of choice for
financial transactions among the people. The aim of this study is to assess the
impact of drivers and inhibitors of adoption confirmation of mobile financial
services (MFS) and its continuance intentions with positive brand attitude.
The study was conducted taking of participants from different occupations
and divisions of the country using Stratified Sampling method. Moreover, the
study also examined the moderating role of income, rural-urban resident status,
and use frequency of MFS to observe significant differences of the impacts in
adoption confirmation and continuance intentions. Further, the relationship
was tested with the mediated moderating effect of perceived risk of MFS. The
study results revealed that MFS users’ value perception, ease of use and reduced
risk of MFS lead to customer satisfaction. However, users’ risk perception
negatively affects adoption confirmation of MFS. The results also show that the
relationships are significantly different among respondent with different income
group, rural-urban residence status, and low use frequency of MFS. However,
the relationships are nullified with the mediated moderating effect of perceived
risk of MFS. Future research can be done considering other dimensions of
MFS such as - convenience, knowledge ability, compatibility, etc. alongside the
framework under this study.