Perceived Risks towards Mobile Banking Adoption in Thailand: The Moderating Role of the Reference Groups
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Abstract
This research aims (1) to study the relationship between perceived risk and mobile banking adoption, and (2) to examine the moderating effects of the reference groups on the relationship between perceived risk and mobile banking adoption. A total sample was 610 bank customers who were currently using mobile banking applications. The research instrument used in this study was self-administered questionnaires. Data for this study were collected by using survey questionnaire with purposive sampling. MANOVA and structural equation modeling (SEM) were used to analyzed the data. The results demonstrate that (1) perceived risk has a negative influence on the adoption of mobile banking, and (2) reference groups (both private and public groups) moderate the relationship between perceived risk and mobile banking adoption, while private groups reduce the negative effects of risk perception on mobile banking adoption more than public groups. The research results will allow banks and other financial institutions to use reference groups, especially private groups as communication strategies to minimize the negative effects of perceived risk and encourage customers to adopt mobile banking applications.
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References
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