Conceptual Framework of Factors Influencing Customers’ Usage of Mobile Banking Services in Tertiary Institutions in Oyo State, Nigeria
Ayoade, Olusola Bamidele & Gbadegesin, Adegboyega Uthman
Department of Computer Science
Emmanuel Alayande College of Education, Oyo, Nigeria
Email: ayoadebamidele2014@yahoo.com
ABSTRACT
This study examined factors influencing consumers’ usage of mobile banking services in tertiary institutions in Oyo State, Nigeria. A descriptive survey design was employed and a conceptual model was constructed
using extended TAM theoretical model with the inclusions of relative advantage, perceived compatibility, perceived risk, perceived credibility, social influence, perceived self-efficacy, perceived trust and perceived
awareness. The items for each construct were adapted from the previous validated constructs in literatures with little modification to suit the objectives of the study. The study employed the use of incidental random
sampling technique to select three hundred and twenty respondents from each institution making a total of one thousand, six hundred. Ten hypotheses were formulated for the study and data collected were analyzed
using stepwise regression analysis at 0.05 level of significant. The results of the study showed that ten independent variables; perceived risk (PR), relative advantage (RA), perceived trust (PT), perceived ease of use (PEOU), perceived usefulness (PU), social influence (SI), perceived compatibility (PCOM), perceived credibility (PC), perceived self-efficacy (PSE and perceived awareness (PAW) significantly influence consumers’ intention to use mobile banking services in tertiary institutions in Oyo State, Nigeria. Relative advantage is the strongest predictor of consumers’ intention to use mobile banking services in tertiary institutions in Oyo State, Nigeria followed by perceived usefulness, perceived credibility, perceived
compatibility and perceived awareness. Therefore, the providers of the service should pay much attention on relative advantage by making sure that the mobile banking services has advantage over branch banking in
accessing accounts from any location and at any time, and provides greater control and flexibility in managing the customers’ accounts. Also, banks and service providers should project higher security when providing mobile banking services and also developed a trustworthy system so as to yield higher consumer’s acceptance and usage.
Keywords: Mobile Banking, PDA, Relative Advantage, Perceived Risk, Perceived Trust, Perceived Usefulness
