Enablers and Barriers for Mobile Commerce and Banking Services Among the Elderly in Developing Countries: A Systematic Review

Abstract

The rollout of mobile banking has taken over the traditional banking space in both developed and developing countries. Banking institutions are continuously seeking innovative digital solutions to stay ahead of competitors and be the first preference to consumers. Scholars have also shown some interest in investigating mobile commerce and banking implementation and adoption. However, research studies focusing on the elderly and mobile banking are scant. This paper seeks to understand the current state of knowledge regarding the enablers and barriers of mobile banking and commerce among the elderly by providing a systematic review of the existing literature on the phenomenon. The literature review showed that there is minimal research to date that has been conducted on this topic of interest. Consequently, issues of investigating enablers and barriers of mobile banking among the elderly have been fairly neglected. The main barriers noted in the literature include: security concerns, trust and privacy, a lack of personalization and limited technical knowledge of the elderly. Significant enablers that may be considered are: perceived ease of use of mobile banking applications, perceived value, convenience and consumer attitudes. Future directions for research and practice on mobile banking for the elderly are suggested.