Factors Affecting Adoption and Use of Mobile Banking Services in Zambia Based on TAM Model

Abstract

The aim of the study was to identify the factors that affect the adoption and use of mobile banking services in Zambia based on the Technology Acceptance Model. Mobile banking a product offered under electronic banking services was the focus of the study. A quantitative research design was used, with a sample size of 384 respondents who held retail savings and current accounts that were eligible for mobile banking services in three commercial banks. A survey questionnaire was used as the primary data collection tool and the data collected was analysed using the IBM SPSS statistics. The results of study were that there is a significant positive relationship between perceived ease of use, perceived usefulness, user attitude, external variables, user intention and system use. The regression results further showed that, the independent variables in the TAM model, perceived ease of use, perceived usefulness, external factors, user attitude and user intention account for 47% of the variance in the factors that determine the use of electronic banking technologies such as mobile banking. The study recommends that commercial banks and the providers of mobile banking services need to improve the perceived ease of use, perceived usefulness, external factors; and promote positive user attitude and user intention. This would result in improved adoption and use of mobile banking services. They should also provide information on how to access and use these services.