The aim of this paper is to examine the awareness of mobile banking services from University students’ prospective. Besides that, the study also intent to find out what kind of mobile banking transactions would be use in daily life and the reasons for adopting mobile banking will be discover.
With the evolutions of information technology, the banking industry also has been effected. This can be seen where the banks and financial institutions have some out with creating and providing of other fundamental or services and one of it is mobile banking. Mobile Banking (M-Banking) or in other words, is what they call doing any of banking affairs or transactions related to your bank account using mobile phone or a mobile handheld device, that is with the advancement in devices technology, is by using
tablets and smartphones. According to Gurme ; Meshram (2017), cashless banking including Mobile Banking is in one which all transactions are done using debit cards or credit cards, or electronic payments methods rather than the use of cash which also involving internet banking. It facilitates an effective payment and accounting system which enhancing the speed of delivery of banking services considerably.
Background of the Study
There have been a lot of studies with the similar topic that have been conducted by the previous researchers from all over the world which mostly conducted in under developed countries such as India and Bangladesh. Nevertheless, studies on mobile banking services in Malaysia also have been conducted by previous scholars. In fact, there are a lot of them, thus there are variety of definitions that can be review in this chapter.
Based on the previous study titled “Barriers to Adoption of Mobile Banking: Evidence from Ghana” done by Faisal (2013) stated that Mobile Banking (M-Banking) is one of the emerging Information and Communication Technologies (ICT) element that transformed the banking sector operations and that banks are eagerly introducing various forms of SMS services for communication and transaction purposes. According to Faisal (2013), “the wider acceptance and usage of M-Banking can result in increase in business and economic growth through mobile commerce promotion, while enhancing individual, business and national productivity as a whole”. The researcher also stated in his study that “the simplicity of mobile of using mobile phones to send and receive money and make payments anywhere has the potential in helping in an effort in making Ghana’s economy a cashless one” also throughout the world.
The other previous study by Vinod, Renu and Neha (2013) titled “Mobile Banking Services as Adoption and Challenges: A Case of M-Banking in India (Positive and Negative Impacts, Mobile Growth in India, Adoption Models and Mobile Technology)” defined that M-Banking is a mobile computing application which provides the customers with the help needed in order to be able to bank anywhere, anytime using a mobile handheld device and a mobile service such as Short Message Service (SMS). “Mobile banking facility removes the space and time limitations from banking activities such as checking account balances or transferring money from one account to another and time saving when we go to bank and doing some banking activities” (Vinod, Renu ; Neha, 2013).
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“A Study on Mobile Banking Awareness of Customers Perspective with Reference to Kothrud, Pune Area” by Gurme and Meshram (2017) defined mobile banking as a service which helps the customer in handling the transactions and operations of financials with the assistant of mobile devices (includes smartphone, tables, etc.). The service that has been provided by bank or financial institutions is said to allow its customers to make financial or banking transactions by the use of smartphone or tablets. Smartphone or other devices have been introduced as one of the platform for the use of Mobile banking in order to perform any of online banking transactions such as transfer money from one account to another account, electricity bill payments, gas bill payments, recharge mobile, online shopping, etc. whenever the user are far from their computers, laptops or any device.” (Gurme & Meshram, 2017).
To conclude, M-Banking is a service which provided by banks or financial institutions in order to help customers to carry out any transactions anywhere, anytime they want using a mobile handheld device such as smartphone and tablets when the customers are far from their computer, laptop or other devices.
There have been a lot of studies involving awareness and reasons for adopting mobile banking services conducted by early researchers in other countries and even in Malaysia but then the sample for the studies were all customers which had a job or have finished their studies. Thus, this paper intent to conduct a study on awareness and the reasons for adopting MBS in an environment consists of students in high education level or university level.
Even though there are variation of technological solutions have been assertively launched in mobile banking applications, it is said that the consumptions of mobile banking transactions is still in the level of infancy (Bank Negara Malaysia, 2009). Not just that, there has been “a slight increase of 35.01 percent of mobile banking subscribers in year 2010 (8,487,000 subscribers) with penetration rate of 3.0 percent among the entire populations and 2.5 percent among the mobile subscribers respectively, reported Bank Negara Malaysia” (Ching Mun Cheah et al., 2011). According to Bank Negara Malaysia (2009), the transactions that conducted at the time mostly business-to-business payments by corporate subscribers, amounted to RM78.2 million (56% of mobile banking transaction value).
Besides that, based on the past studies regarding awareness and factors influencing in adopting mobile banking services, there are some kind of models of technology adoption that relevant with the studies have been discussed which will also be discuss more details of the models in the next chapter of this paper. The model that has been used in previous studies by past researchers mostly on Technology Acceptance Model (TAM), an extended model of TRA. Other models that are relevant with this paper are, Theory of Reasoned Action (TRA), Theory of Planned Behaviour (TPB) also an extended model of TRA and lastly, Information Adoption Model (IAM). All of the models mentioned are included under models of technology adoption. Nevertheless, in this study, mainly will be discuss on students’ awareness and the source of awareness, the transactions used and the reasons for university students to adopt mobile banking services.
To know if there is awareness of mobile banking services among university students.
To identify the usage or transaction used in mobile banking services by the students when using the services.
To determine the reasons for adopting mobile banking services from students’ perspectives.
To examine the relationship between students’ awareness and the transactions used in MBS.
To examine the relationship between students’ awareness and the reasons for adopting MBS.
The research question for this paper is to find out the awareness of mobile banking services among students in high education level and the transactions used from user and non-user opinion. Besides that, the researcher wants to find out what are the reasons to adopt mobile banking services also the relationship between variables. The primary questions for the research are:
Is there an awareness of mobile banking services among university students?
What type of transactions used by the students when using the services?
What are the reasons for adopting the mobile banking services from students’ perspectives?
Is there any relationship between students’ awareness and the transactions used in MBS?
Is there any relationship between students’ awareness and the reasons for adopting MBS?
Research hypothesis (H1) is a statement constructed by researchers to speculate the result of a study. Thus, there are a few hypothesis have been created for this study. The hypothesis are;
H01: There is no significant relationship between awareness and type of transaction used
H02: There is significant relationship between awareness and reasons for adopting MBS.
1.7 Conceptual Framework
According to Regoniel (2015), conceptual framework indicates to a researcher’s compound of literature in explaining a phenomenon. Conceptual framework also in other words, reflects on the researcher’s view to the connection between of his or her specific variables, next determines the required variables in research inspection, stated Regoniel (2015).
Source of Awareness
Type of Transactions
Reasons to Adopt MBS
Source of Awareness
Type of Transactions
Reasons to Adopt MBS
224853514859000106680257175Mobile Banking Services Adoption
00Mobile Banking Services Adoption
Figure 1.1: Proposed Conceptual Framework
Figure 1 shows that the right square (Awareness, Type of Transactions, Source of Awareness and Reasons to Adopt MBS) is the dependent variables while the left square (Mobile Banking Services Adoption) indicates the research independent variable. This framework would be discussed in the next chapter.
The study is restricted to only a group of respondents from Sultan Idris Education University. There are only 52 students that have responded to the research instrument, questionnaire that has been emailed to the students. The questionnaire has been emailed to all of UPSI students through students’ official emails but then, only 52 of the students responded to the email.
1.9 Operational Definition
1.9.1 Mobile Banking (M-Banking)
For this study, M-Banking is refer to as a service which provided by banks or financial institutions in order to help customers to carry out any transactions anywhere, anytime they want using a mobile handheld device such as smartphone and tablets and a mobile service, SMS.
To conclude, there have been studies on definitions for mobile banking services based on the past studies from previous researchers in this chapter. After the problem statement has been identified, this study aimed to find out the awareness of MBS and the reasons why the services have been adopted by the respondents that can be a help to other researchers and bankers also financial institutions. In the next chapter, there would be relevant literature review provided.
This chapter is about literature review taken and reviewed from past studies, journals, online sources, books and articles. The resources obtained are all related to the study conducted by previous researchers on MBS in order to support the content of this paper.
2.2 Overview of MBS in Malaysia
Malaysia, as one of the developing countries, mobile banking has just been embraced by the banking industry (Noorzaidi, Noorly, Wan Seri & Mona, 2011). Nonetheless, according to Peter (2014), there are almost 4 million users as on March 2014, an increase in the number of users from just over 1.5 million in 2011 (data published by Bank Negara Malaysia). This proves that mobile banking in Malaysia is gaining its
popularity rapidly, though Hanudin, Ricardo and Zulkifli stated in their study that it is still in infancy level and considered as alien to Malaysians. Nevertheless, it is said that there are 13 banks which offer MBS in Malaysia (Peter, 2014).
Based on previous study by Ching Mun Cheah et al. (2011) titled “Factors Affecting Malaysian Mobile Banking Adoption: An Empirical Analysis”, in order to embrace their MBS, it is not surprising that Malaysian banking institutions are competing each other since technological innovation was found as one of the ways to attain competitive benefits. Even though there are variation of technological solutions have been assertively launched in mobile banking applications, it is said that the consumptions of mobile banking transactions is still in the level of infancy (Bank Negara Malaysia, 2009). Not just that, there has been “a slight increase of 35.01 percent of mobile banking subscribers in year 2010 (8,487,000 subscribers) with penetration rate of 3.0 percent among the entire populations and 2.5 percent among the mobile subscribers respectively, reported Bank Negara Malaysia” (Ching Mun Cheah et al., 2011). According to Bank Negara Malaysia (2009), the transactions that conducted at the time mostly business-to-business payments by corporate subscribers, amounted to RM78.2 million (56% of mobile banking transaction value).
“The banking industry in Malaysia is important because a strong banking industry support economic developments significantly through its efficient services. Banks will need to introduce changes (both at the procedural level and at the informational level) such as moving from traditional distribution channel to electronic distribution channel” (Noorzaidi, Noorly, Wan Seri & Mona, 2011). According to Mohamad, Nora’ayu and Irni (2012), as of January 2012, the banks that offer mobile banking in Malaysia, reported by Central Bank of Malaysia (2012) are Al Rajhi Banking & Investment Corporation (Malaysia) Berhad, AmBank (M) Berhad, Bank Islam Malaysia Berhad, Bank Simpanan Nasional, CIMB Bank Berhad, Citibank Berhad, Hong Leong Bank Berhad, Malayan Banking Berhad, OCBC Bank (Malaysia) Berhad, Public Bank Berhad, RHB Bank Berhad and Standard Chartered Bank Malaysia Berhad.
Table 2.1 shows the list of 17 banks in Malaysia based on the list found on Bank Negara Malaysia’s website that are providing MBS as one of their services. There has been an increasing of banks’ numbers offering MBS according to Norzaidi, Noorly Ezalim, Wan Seri Rahayu & Mona Maria (2011) that stated there were 11 banks listed which offered the service based on Bank Negara Malaysia’s website.
Table 2.1: List of Banks Providing MBS in Malaysia
Al Rajhi Banking & Investment Corporation (Malaysia) BerhadAlliance Bank Malaysia BerhadAmBank (M) BerhadBank Islam Malaysia BerhadBank Muamalat Malaysia Berhad
Bank of China (M) BerhadBank Simpanan NasionalCIMB Bank BerhadCitibank BerhadHong Leong Bank BerhadHSBC Bank Malaysia BerhadMalayan Banking BerhadOCBC Bank (Malaysia) BerhadPublic Bank BerhadRHB Bank BerhadStandard Chartered Bank Malaysia BerhadUnited Overseas Bank (Malaysia) BerhadSource: Bank Negara Malaysia (2018)
As for the numbers of m-banking subscribers, there is an increase in the numbers from 2016 to 2018 as shown at APPENDIX C, from 7,818.2 subscribers by the end of March 2016 to 12,627 subscribers by April 2018.
2.3 Mobile Banking
2.3.1 Consumer Behavioural towards M-Banking
Consumer behaviour can be categorised widely as the purchasing behaviour of a consumer affected by his or her decisions and actions. There has been question that often explored and examined by the marketers on the factors affected consumers in choosing their certain products regarding to others’ respects. It is said that the study of customer behaviour conducted is not only stands as a guidance in understanding the past but also forecast the future. The importance in having fairly great understanding of the purchasing model of consumers, the researcher found that there are five common factors underlined below concerning the likelihood, behaviour and priority must be given. In this study, these typical factors are suit to describe the attitude of users and non-users toward mobile banking. The factors are, purchasing power, group influence, personal preferences, economic conditions and marketing campaigns (Iresearch, 2018).
Purchasing power, according to Iresearch (2018), is an important role in affecting consumer behaviour that also can be relate to mobile banking users. Usually, the consumers will analyse their purchasing ability before making any decision in buying products or services, same goes to mobile banking users where they will analyse the MBS whether they are able to adopt it or not. Nonetheless, even if the products produced are excellent, but fails to meet the customers purchasing power, its sales will highly affects. To attain better results, dividing consumers based on their buying capacity would be a great help to identify worthy consumers. Next, group influence explain that the decisions made by consumer has been seen to be affected by group influence (Iresearch, 2018). There are two types of influential group, primary and secondary. Primary influential group mainly consists of people near the consumers such as, their family members, friends from the same class in schools or colleges and immediate relatives. Meanwhile, the secondary influential group consists of neighbours and acquaintances. Both groups have larger effect on a consumer’s purchasing decisions. This can be relate the question from the research instrument that asked respondents, “How do you know about Mobile Banking?” which one of the choices to pick is family (Iresearch, 2018).
This study also found that based on Iresearch (2018), personal preferences is about the factor based on individual level, there are various shades of likes, dislikes, preferences, morals and values that effected the consumer behaviour especially, in incontestable dynamic industries such as fashion, food and personal care. The dominant influencing factor can be derived from the consumer peculiar view and judgement who concerning more into style and fun. In the end, the purchases made by a consumer will be influenced by his or her own personal likes and dislikes which had deployed bigger effect even with any advertisement made in other to help in influencing the consumers. Fourth, also according to Iresearch (2018), consumer spending decisions are known to be greatly influenced by the economic situation prevailing in the market. This holds true especially for purchases made of vehicles, houses and other household appliances. A positive economic environment is known to make consumers more confident and willing to indulge in purchases irrespective of their personal financial liabilities (Iresearch, 2018).
Last but not least, found on Iresearch (2018), marketing campaigns – advertisement plays a greater role in influencing the purchasing decisions made by consumers. They are even known to bring about a great shift in market shares of competitive industries by influencing the purchasing decisions of consumers. The Marketing campaigns done on regular basis can influence the consumer purchasing decision to such an extent that they may opt for one brand over another or indulge in indulgent or frivolous shopping. Marketing campaigns if undertaken at regular intervals even help to remind consumers to shop for not so exciting products such as health products or insurance policies (Iresearch, 2018).
According to Christopher and Yu (2005), based on the conclusions drawn in a study conducted by Giese and Cote (2000) who have reviewed the satisfaction literature from 1969 to 1997 suggested that there are three basic elements can be highlighted the satisfaction construct, namely: i. Response; ii. Focus; and iii. Time. The response component is said to be cognitive or affective while the focus was the product or service provided, and the time component was generally during consumption. The three elements then have been used to analyse the data of interview from 135 interviewees to identify whether their findings were consistent with the literature. The results concluded that consumers tended to view satisfaction as an affective construct, prompting the authors to infer that satisfaction was an “affective summary response” towards the consumptions of products or services.
2.3.2 Importance of Mobile Banking
There are several importance in using mobile banking. According to Gurme & Meshram (2017), firstly is from aspect of security, mobile banking is said to be safe and secure which is free-risk with the reference of mobile pin (m-pin) and the customer will be guide effectively by the mobile banking security to monitor their bank account balance on their own and the history of the occurred transactions. This prove that mobile banking the access by unauthorized users did not provided. Secondly, speed. The customers are able to do their banking transaction using mobile only in the fragment of second because of the help of 4G technology in this 21st century (Gurme & Meshram, 2017).
Continue, commodious is also one of the m-banking importance, which can be seen through the flexibility of mobile banking which provides the customers its service wherever they are and whenever they want (Gurme & Meshram, 2017). Further, the service is very swift, favourable and easy to each of the smartphone or any mobile users. Less costly. According to Gurme & Meshram (2017), M-banking indeed cost effective and low-cost and even in some region, it could be zero-cost services that have been provided by the banks for their customers. Lastly, of course there will be increase in economic growth especially in under developed countries. The population in India for example, that does even not having any bank account, but by the guidance through the awareness of mobile banking mainly among youth generation, the bank account will be opened at any bank thus help to improve the economic development in their country (Gurme & Meshram, 2017).
2.3.3 Advantages of Mobile Banking
According to Gurme & Meshram (2017) in their study, “mobile banking introduce the use smartphone or other devices to operate online banking transactions while far away from your computer, laptop or any other device, such as transferring money from one account to another account, electricity bill payments, gas bill payments, recharge mobile, online shopping and so on”. The banks or financial institutions have added MBS that allow its customers to do any of the financial or banking transactions by using their own smartphone or tablets. The accessibility of mobile banking is 24/7 (Gurme & Meshram, 2017), every 24 hours, seven days a week for the customers to perform their banking transactions, unlike ATM machines that have its own time that limited which starting from 12 at midnight, the customers could not do any transaction and the doors to the ATM also will be automatically locked when the clock turned to 12 midnight in certain region.
Besides, the financial transactions through mobile banking are substantially the same as doing the transactions using ATM machines such as obtaining bank balance, requesting for the list of the latest transactions, transferring money from customer one account to another account, etc. The only differ is that by using mobile banking, through the customer mobile phone, they can perform any of the banking transactions whenever, wherever they want. Based on the previous study conducted by Amit and Shamrao (2013), some of other advantages adopting mobile banking are, the banks will also receive the benefits through mobile banking since the service is said to be more economical, mobile banking helps the banks to always keep in touch with their customers and lastly, the risk of fraud can be reduced through mobile banking. Further, the m-banking helps banks in promoting and selling their products and services to a certain group of customers, such as credit cards, loans etc. (Amit & Shamrao, 2013).
2.3.4 Offered Services in Mobile Banking
According to Amit & Shamrao (2013) in their study, there are various services that have been offered by banks or financial institutions which are mainly supporting all kind of transactions such as, Account Balance Enquiry, Account Statement Enquiries, Cheque Status Enquiry, Cheque Book Requests, Fund Transfer between Accounts, Credit/Debit Alerts, Minimum Balance Alerts, Bill Payment Alerts, Bill Payment, Recent Transaction History and Information Requests like Interest Rates/Exchange Rates.
2.3.5 Technologies behind Mobile Banking
Mobile Banking is said has been established using mobile applications developed on one of the following four channels (Amit & Shamrao, 2013) such as, IVR (Interactive Voice Response), SMS (Short Messaging Service), WAP (Wireless Access Protocol) and Standalone Mobile Application Clients.
Briefly by Vinod, Renu & Neha (2013), Interactive Voice Response (IVR) is a service that operates through pre-specified numbers which banks had advertised to their customers. “Customer’s make a call at the IVR number and are usually greeted by a stored electronic message followed by a menu of different and multiple options. Customers can choose any options by pressing the corresponding number in their keypads, and then read the regarding information, mostly using a text to speech program”, (Vinod, Renu & Neha, 2013). Nevertheless, there are still some limitations when using M-banking based on IVR which, they can be used only for Enquiry based services. SMS (Short Messaging Service) is an initiative which permits customers in accessing their bank accounts and various banking transactions and services can be make. The SMS facility can be used to conduct operations using the messaging services such as Balance Enquiry, Cheque Paid Status, etc.
To bridge the gap between the mobile network and Internet. WAP is a global standard produced by WAP forum founded in 1997 with the help of Nokia, Ericsson, Motorola and Unwired Planet. There are two different editions: WAP 1.x and WAP 2.x Banks maintain a WAP site which is similar is internet banking. Which customer’s access using a WAP compatible browser on their mobile phones. WAP sites provide the familiar form based interface and can also implement security quite effectively”. Meanwhile, “standalone mobile applications are the ones that hold out the most promise as they are most suitable to implement complex banking transactions like trading in securities. They can be easily customized according to the user interface complexity supported by the mobile. In addition, mobile applications enable the implementation of a very secure and reliable channel of communication (Vinod, Renu ; Neha, 2013).
2.4 Awareness and the Source
Consumer awareness is said to be one of the marketing term which means that consumers are knowledgeable on products or services, the characteristics of the products and the other marketing P’s (place to buy, price, and promotion). Usually the consumer awareness grows through commercials they have been listen to and ads, including “word of mouth” (the view on the products and services from people the consumer knows). Based on the previous study on consumer awareness by Lokhande, M., (2006) conducted in Jalna City, the consumer are to be aware towards his / her right and that the legal meets against utilization. It is said that level of consumer awareness can be identify through the contentment levels and standard of the consumers’ living. “Consumer awareness may be defined as clearly understanding the need and priority of purchasing, conditions warranties of purchase agreement and rights and duties of consumers”, according to Lokhande, M. (2006).
Further, a source of m-banking awareness is that the foundation of how a respondent got to know or has been introduced to mobile banking. Based on the research instrument, the sources listed for students to choose are, through advertisement, bank (personal), bank (brochure), internet or family. Thus, in this part there will be detail explanation for each of the sources listed.
According to Catherine (2018), “Advertising is the lure that draws new customers to a business or product. The trick is to find a form of advertising that fits the business, the budget and the target clientele. There are plenty of options to choose from, as traditional media such as print and new media such as social networks both have their advantages”. This is one of the way that banks or financial institutions have used in order to bring awareness to their customers. There are eight different ways that can be used in advertising products and services according to Catherine (2018).
The eight ways are, through Purchased Online Ads that is by posting ads on websites or social networking sites such as Facebook pages which provided with the advertising programs; Social Medias such as Instagram and again Facebook pages; Newspapers; through Radio’s Ads by using appealing jingle and quick tagline; Television Ads; Public Speaking; Door Hangers and Flyers, by putting the flyers in neighbours’ mailboxes for example; and lastly is through Event Sponsorship (Catherine, 2018).
2.4.2 Bank (Personal and Brochure)
Next, the respondents might aware of MBS through bank by personal and brochure. By personal or in other words, personal selling according to The Economic Times, is a face-to-face selling between two persons that are salesman that is trying to persuade his or her customer to buy a product or service. This kind of promotional requires the salesman to use his or her communication skills in order to convince the customer. Here, the salesman could be refer as a bank worker which persuade his or her customer to adopt MBS provided by the person’s bank.
Meanwhile, brochure is one of other promotional strategy using a form of printed paper using graphic arts in creative ways (Walsall, 2014). According to Walsall (2014), the attention of potential customers can be captured through brochures. Thus, this could be related to brochures provided by banks or financial institutions that have captured their customers’ attention.
Internet or internet promotion or promoting through internet is one of an electronic media that needs an electronic device in order to access its content taken from Info Entrepreneurs. In this study, the electronic device is related to mobile devices. This way of promotion also known as website marketing or website promotion or sometimes by using email that implemented by an organization, a business or an individual in promoting their product or service according to Info Entrepreneurs. Hence, in this case, the banks or financial institutions might have used the website promotion to promote MBS such as at Maybank2u.com website page. There, the respondents might have seen an advertisement of MBS showed on the webpage whenever they enter the webpage to do an online transaction using their laptop or computer.
To be aware of some products or services in market, can not only through internet or advertisement for example but also through family which could be one of the other way of awareness to be developed in people or a person. According to Gil, Andres and Salinas (2007), in consumer behaviour, family has been counted as a powerful dominator. Thus, in this study, the respondents it could be say that they found out about MBS through their families those who have been the users of the service.
2.5 Type of Transactions
Usage of MBS for this study is also known as type of transactions conducted by a user when using MBS. For this study, there are five transactions been used based on are checking account balance as in allowing a user to know his or her account balance before or after doing any transaction; obtaining financial information; next is paying bills in which MBS allows a user to pay his or her bills such as utility bills and credit card bills. Fourth, transferring money as in transfer money to 3rd party for example and lastly is for requesting for issue of cheque book (Amit ; Shamron, 2013).
2.6 Reasons to Adopt MBS
In past studies such as “Factors Influencing Adoption and Usage of Mobile Banking: Bangladesh Experience” conducted by Noor Khan, Akter ; Akter (2017), there have been found that the factors influenced the adoption and usage of MBS in Bangladesh are, perception to security, cost and convenience, and complexity. Meanwhile, from the study titled “Factors Affecting Jordanian Consumer’s Adoption of Mobile Banking Services” by Salim Khraim, Ellyan AL Shoubaki ; Salim Khraim (2011) found that the factors are self-efficacy, trailability, complexity, compatibility, risk and relative advantage. Further, a study titled “A Study on Customer Awareness, Opinion, Reasons for Opting Mobile Banking” by Devi, Sebastina ; Kanchana (2011), the reasons for adopting MBS are time-saving, doesn’t need to go to bank, customer friendly, convenience and security. The finding of the study based on the mean ranks used to analysis the reasons is that customer friendly is said to be the top priority for respondents to adopt MBS while security was at the lowest mean rank (Devi, Sebastina & Kanchana, 2011).
As for this paper, the reasons for adopting MBS have been adapted from Iddris (2013) and already been modified from “Rejection Factors” into suitable items according to the need of study as shown at APPENDIX A, the research instrument.
In this chapter, the review of the past researches that related to this study have been provided and the proposed conceptual framework have been explained. In next chapter, the overview of research methodology would be provided.
The purpose of this chapter is to explain the research design, data collection methods, population, research sample, research instrument used in collecting the data, data analysis and also pilot test that has been conducted towards research instrument.
3.2 Research design
The design of the research will be discuss in this chapter based on the research question the researcher mentioned earlier in the first chapter. For this paper, quantitative method has been used. Further, research design is said to be an iterative process. In order to make sure that a suitable instrument being used, the researcher will returns to the steps
of topic, dissertation, types of analysis, review of literature, objectives and conceptualization after the instrument has been constructed.
3.3 Data collection
For this paper, there are two types of data collection method have been used, primary data and secondary data.
3.3.1 Primary data
Primary data is where the data collected using research instrument, questionnaire that consists of three parts. Part 1: the demography of respondents, Part 2: awareness and the usage of mobile banking. Lastly, Part 3: factor influencing respondents to adopt mobile banking services. Table below shows the number of items for each variables which have been computed into three groups, awareness, usage and factors affected.
Table 3.1: The Number of Questionnaire Items
Source of Awareness 6
Type of Transactions 5
Reasons for Adopting MBS 10
3.3.2 Secondary data
This research paper has been sourced from articles and journals dealing with current issues on mobile banking awareness and factors effecting to adopt mobile banking beside to study the transactions used by the respondents’ in the service, while research methodology have been a major secondary source for the extraction of the expert’s opinion. Any reference books and Internet related to mobile banking have been a major secondary source as the expert’s view extraction.
Generally, the population of a research is a sizeable collection of personals or objects as a scientific query main focus. It is also familiar as a well-defined collection of personals or objects that have characteristics alike. There are two types of research population, target population and accessible population. Target population, also known as theoretical population is refers to the whole group of individuals that researchers are said to be interested in generalizing the conclusions and generally has differ characteristics. Meanwhile, accessible population is the research population where the researchers’ conclusions can be apply. This population is said to be the subset of target population which also known as the study population.
The targeted populations for this study are the students from Sultan Idris Education University from all semester, level of education based on their information using the collected data.
3.5 Research sample
A sample of research is plainly a subset of the population where the notion of sample emerge from the incompetence of the researchers to check all the individuals in a given population. This allows the researcher in conducting the study from the population to individuals so that the result of their study can be used in obtaining conclusions that will be apply to the entire population. The sample of the respondents have been set to minimum 50 individuals for this study which soon there are 52 respondents who participated in the survey carried out by researcher.
3.6 Research instrument
Research instrument or in other words, choice of methodology is where the researcher has chosen what kind of data collection tool she wants to use which it can be survey or questionnaire, experiment, etc. in order to accomplish the research objective built in Chapter 1 and need to make sure that the objectives can be met.
Thus, for this study, the questionnaire as the research instrument consisted of four parts that has been modified from the adapted questionnaire from previous studies conducted by the researchers such as, Gurme & Meshram (2017) titled “A Study on Mobile Banking Awareness of Customers Perspective with Reference to Kothrud, Pune Area”, Iddris (2013) for “Barriers to Adoption of Mobile Banking: Evidence from Ghana; Table 3 M-Banking Rejection Factors” and Amit & Shamrao (2013), titled “To Study Consumer Awareness & Perception towards Usage of Mobile Banking; Table 3: Respondents Learning2”.
The questionnaire consisted of, Part I: Respondents’ Demographic; Part II (A): Respondents’ Awareness; Part II (B): Source of Awareness; Part III: Type of Transaction Used and lastly Part IV: Reasons for Adopting MBS. For Part I, the respondents were asked for their gender, age, level of education, semester and if they are MBS user or not or maybe. Part II (A) was structured using “yes” or “no” or “maybe” scale to find out the awareness of the respondents towards MBS while Part II (B) is about the source, from where the respondents received the information on MBS. Part III and Part IV built using five points Likert Scale.
Table 3.2: The Indicator for Five Points Likert Scale used for Part III and Part IV
Likert Scale Indicator
1 Strongly Disagree (SD)
2 Disagree (D)
3 Undecided (U)
4 Agree (A)
5 Strongly Agree (SA)
3.7 Pilot test
The pilot test has been carried out by the researcher before distribute the final questionnaire to find out if the questionnaire is appropriate to use for the study. The pilot test conducted is analysed using Cronbach’s Alpha to determine the reliability of the questionnaire built before it can be distribute to the main respondents, so that the researcher can correct it if there are some sort of mistakes or the respondents could not understand what are the questionnaire about.
Pilot testing is important that it needs to be conducted before the researcher starts to distribute the questionnaire officially. This is to avoid from any of mislead to occur such as respondents can’t understand the purpose of questionnaire, even the researcher might need to spend more time to analyse the research design than the actual results if the pilot test didn’t carried out. Thus, one of the benefits in conducting pilot test is that, it can give an advance warning to the study in case the actual study could fail, the point where protocols may not be followed, or the planned methods or instruments might be unfitting or too complex (Edwin ; Vanora, 2001).
Thus, the pilot test need to be conduct before distribute the research instrument for real. Below is the table describing the value and level of the value for reliability test using Cronbach’s Alpha which the measurement as shown below:
Table 3.3: Cronbach’s Alpha Measurement
Lower than 0.6 Poor
0.6 to 0.7 Questionable
0.7 to 0.8 Acceptable
More than 0.8 Good Consistency
3.7.1 Result of pilot test
Table 3.4: Reliability Test Using Cronbach’s Alpha
Parts Cronbach’s Alpha N of Items
Awareness and Source 0.622 11
Type of Transactions 0.881 5
Reasons for Adopting MBS 0.948 10
Total 0.759 26
Table 3.6 shows that the result of reliability test that conducted for this research using Cronbach’s Alpha is 0.759 that is greater than 0.7 for most of the variables of the study except for awareness and the source with 0.622 which is at questionable level based on Table 3.5. Nevertheless, with the total more than 0.7, the questionnaire is at acceptable level which shows that the questionnaire is reliable.
3.8 Data analysis
The data for this paper has been analysed using statistical package for social sciences (SPSS) package. The researcher used descriptive analysis and inferential analysis to attain the findings of the data collected. For the descriptive statistics, a measure of central tendency and dispersion have been used to analyse the data based on the research objectives stated in Chapter 1. Mean is used as to measure the central tendency, while standard deviation and variance were used as the measure of dispersion.
Meanwhile, the inferential analysis is used to test the hypothesis stated in Chapter 1 whether they can be rejected or fail to reject through Pearson’s correlation coefficient analysis. The social demographic background of the respondents also been analysed and the data were presented in percentages along the frequencies that will be shown in tables and figures.
3.8.1 Descriptive Analysis
As stated earlier, the descriptive analysis will be use to analyse the data to meet the objectives stated in Chapter 1. The details on value of mean is just like the table shown.
Table 3.5: Measurement of Value for Mean Score
1.00 – 1.99 Low
2.00 – 2.99 Moderate
3.00 – 3.99 Moderate High
4.00 – 4.99 High
Source: Norain Othman (2013)
3.8.2 Inferential Analysis
Inferential analysis is conducted to generalize characteristics from a sample to a population (Zikmund et al., 2010, p. 413). According to Zikmund et al. (2010, p. 559), “Pearson’s correlation analysis is used to measure the strength of the relationships between two variables”. The following table shows the level of correlation:
Table 3.6: Relationship between Coefficient Value and Correlation
Coefficient (r) Correlation
r= 0.10 to 0.29 or 0.10 to -0.29 Weak
r= 0.30 to 0.49 or 0.30 to -0.49 Medium
r= 0.50 to 1.0 to 0.50 to -1.0 Strong
Source: Wong ; Hiew (2005)
The study employed a structured questionnaire to collect primary data from the sampled respondents. The researcher performed a pilot test to the research instrument before it was distributed to the sampled respondents in the main study in order to test the reliability and also to determine the validity of the instrument. The questionnaire utilised “yes” or “no” or “maybe” and five-point Likert scale to measure the variables. The scales to measure each variables have been developed based on prior studies for example as much as possible. The questionnaire included four parts. Responses to each statement in part III and IV of the questionnaire were on a five-point Likert scale ranging from strongly disagree to strongly agree.
The research paper is based on both primary and secondary data. In this research paper the Primary data was collected by emailing the questionnaire to the respondents. In this research paper, discussions, limitations and recommendations also conclusions are based on primary data. For the secondary data, this research paper has been sourced from articles and journals dealing with current issues in mobile banking awareness and reasons to adopt mobile banking services from university students.
ANALYSIS AND INTERPRETATION DATA
Analysis and interpretation are said to be the process which perception and sense made by the data that have been gathered from qualitative research, and by which the emergent knowledge is applied to clients’ problems. This data often takes the form of records of group discussions and interviews, but is not limited to this.
This chapter presents the analysis and findings of the study as set out in the research methodology. The research data was gathered exclusively through questionnaires as the primary research instrument. The questionnaire was designed in line with the research objectives of the study. To enhance the quality of the obtained data, Likert type questions were used whereby respondents indicated the extent to which
the variables were practiced in a five-point Likerts scale. The data has then been presented in form of quantitative, qualitative form followed by discussions of the data results. The chapter concludes with a critical analysis of the findings. The researcher will discuss about how the data are being analysed. The researcher used the descriptive analysis to determine the frequencies of respondents’ demography. Besides that, the hypothesis built in Chapter 1 will be define by the researcher.
4.2 Descriptive Analysis for Respondents’ Background
In this chapter, the analysed data of respondents’ background will be shown by the researcher. The data has been analysed using frequencies and will be discuss all the items of a respondents’ demographic one by one. The respondents have been asked about their genders, the range of their ages, level of education whether they are Diploma student or Bachelor’s Degree or Master’s Degree or even PhD. Besides that, the respondents were also been asked about what semester they are in and whether they are user or non-user or potential user of mobile banking.
4.2.1 Respondents’ Gender
Below is the table for the distribution of respondents’ gender.
Table 4.1: The Distribution of Respondents Gender
Gender Frequency Percentage (%)
Male 16 30.8
Female 36 69.2
Total 52 100
It is inferred from the table for the distribution of respondents’ gender, most of the respondents are female students with 69.2% and the other 30.8% are male students.
4.2.2 Respondents’ Age
The findings are shown in table 4.2 below.
Table 4.2: Distribution of Respondents Age
Range of Age (years) Frequency Percentage (%)
19-22 31 59.6
23-26 13 25.0
27-30 3 5.8
31-34 1 1.9
35-38 4 7.7
Total 52 100
Based on the range of respondents’ ages, it has been shown that the questionnaire have been participated mostly by the respondents with 19-22 years old with 31 (59.6%) which it can be say that most of the respondents consists of teenager or in other words, in their early 20’s. Secondly, with the range of 23-26 years old, there are 13 respondents (25%) in their middle 20’s, while there are only 3 respondents (5.8%) in their late 20’s. With the percentage of 1.9% and 7.7% for respondents aged 31-34 years and 35-38 years shows that mobile banking services are greatly enhanced among young users aged between 19-22 years.
4.2.3 Level of Education
The finding for the level of education have been shown in table 4.3.
Table 4.3: Respondents’ Level of Education
Level of education Frequency Percentage (%)
Diploma 5 9.6
Bachelor degree 39 75.0
Master degree 5 9.6
PhD 3 5.8
Total 52 100
Based on the table, it can be say that majority of the respondents who participate the survey are from bachelor’s degree with the percentage of 75% while the minority are from the PhD students with 5.8%.
4.2.4 Respondents’ Background Based on Semester
The findings of respondents’ semester can be seen in table below.
Table 4.4: Distribution of Respondents Semester
Semester Frequency Percentage (%)
1 8 15.4
2 9 17.3
3 6 11.5
4 9 17.3
6 8 15.4
7 1 1.9
8 11 21.2
Total 52 100
Based on the table above, the majority of respondent is students from semester 8 with 21.2% while students in semester 2 and 4 both have the same percentage with 17.3% because of the same frequency. The same goes between students in semester 1 and 6 with 15.4% while there is only one student in his or her semester 7 with 1.9%.
4.2.5 Determination of M-Banking User
The study sought to find out whether the respondents are a user or non-user or potential user.
Table 4.5: Mobile Banking User
Frequency Percentage (%)
Yes 37 71.2
No 11 21.2
Maybe 4 7.7
Total 52 100
Based on the table 4.5, it can conclude that most of the respondents are mobile banking user, who use the mobile banking services with 71.2% and 21.2% is for those who are non-user. Despites that, the other last 7.7% shows that the respondents might be some potential users which it can be say that they actually use the mobile banking services but then they are not sure about that.
4.3 Descriptive Analysis
Descriptive analysis in this study used to analyse the objectives of the research that have been stated in Chapter 1 by the researcher. Below is the result of analysed data. All the variables have been grouped into main construct, awareness, usage and factors affecting mobile banking adoption.
4.3.1 To know if there is awareness of mobile banking services among university students
Research question: Is there an awareness of mobile banking services among university students?
Table 4.6: Students’ Awareness towards Mobile Banking Services
No. Items (Frequency)
Yes No Maybe
1 Have you heard about mobile banking in Malaysia? (50)
2 Have you interested to enrol mobile banking service? (41)
3 Have you think about usage of mobile banking is more in daily life? (36)
4 Do you think that mobile banking is secure for operating? (29)
5 Do you think that mobile banking service is a convenience? (44)
6 Do you think that mobile banking service is important to customer? (44)
Table 4.6 shows that most of the students are aware of MBS with 96.2% of them heard about the MBS. 32.7% of the students does not sure whether the service is secure and 15.4% of them didn’t think of the usage of MBS in their daily lives.
Table 4.7: Source of Awareness
No. Items (Frequency)
1 Through advertisement (19)
2 Through bank (personal) (24)
3 Through bank (brochure) (11)
4 Through internet (39)
5 Through family (23)
Based on the table shown, it concludes that most of the respondent receive the information of mobile banking services through internet with 75%, followed by bank in personal, through family, next through advertisement and the least is through banks’ brochure with 21.2%.
4.3.2 To identify the usage or transaction used in mobile banking services by the students.
Research question: What type of transactions used by the students when using the services?
Below are the findings based on the analysed data using descriptive analysis to see the mean and standard deviation for the data.
Table 4.8: Type of Transactions Performed
No. Transactions Percentage (%) Mean Std. Deviation
SD D U A SA 1 checking my account balance 5.8 1.9 9.6 30.8 51.9 4.21 1.091
2 obtaining financial information 5.8 5.8 11.5 32.7 44.2 4.04 1.154
3 paying bills 5.8 7.7 15.4 32.7 38.5 3.90 1.176
4 doing money transfer 7.7 7.7 3.8 30.8 50.0 4.08 1.250
5 sending request for issue of cheque book
Average 19.2 7.7 36.5 19.2 17.3 3.08
Based on the findings shown in the table above, it can be say that majority of respondents used mobile banking services to check their account balances with value of mean 4.21, high and the transaction with the lowest mean is for sending request for issue of cheque book (3.08). The average mean for all of the transactions is high with 3.8615.
To determine the reasons for adopting MBS from students’ perspectives.
Research question: What are the reasons for adopting the mobile banking services from students’ perspectives?
The researcher decided to analyse the related data using descriptive analysis to see the mean and standard deviation. The findings are as shown below.
Table 4.9: Reasons for Adopting MBS
No. Reasons Percentage (%) Mean Std. Deviation
SD D U A SA 1 No need to go to bank branches 5.8 23.1 15.4 30.8 25.0 3.46 1.260
2 Aware of M-Banking information 7.7 21.2 17.3 32.7 21.2 3.38 1.255
3 M-banking is easy to use 1.9 5.8 17.3 36.5 38.5 4.04 0.989
4 Lots of my friends is using mobile phone for banking transactions 1.9 5.8 7.7 46.2 38.5 4.17 0.929
5 My bank offer M-Banking 1.9 3.8 17.3 38.5 38.5 4.08 0.947
6 Cost of using mobile banking services is not a burden. – 11.5 25.0 34.6 28.8 3.81 0.991
7 It is convenient to use mobile banking. – 5.8 25.0 38.5 30.8 3.94 0.895
8 Mobile banking services are quick to use. – 7.7 32.7 28.8 30.8 3.83 0.964
9 Progress in mobile banking services is clear. – 13.5 26.9 30.8 28.8 3.75 1.027
10 The mobile banking account PIN is secure during transmission. 3.8 13.5 36.5 21.2 25.0 3.50 1.129
Average 3.80 Based on the table shown, the mean score for the reasons to adopt MBS is in moderate high level with value 3.80 that can be acquired by total up all 10 items’ means then divide by 10 to get the average number. For detail, it can be seen that lots of friends using MBS got the fore most priority with the mean score of 4.17, followed by service is offered by banks they acquainted to, easy to use, convenience, speed in using the services, the cost is not a burden, m-banking progress is clear, security of PIN, no need to go to bank branches and the least is awareness towards MBS with 3.38 score of mean.
4.4 Inferential Analysis
The researcher used the inferential analysis to analyse the hypothesis through Pearson’s correlation coefficient.
4.4.1 To examine the relationship between students’ awareness and the transactions used in MBS.
Research question: Is there any relationship between students’ awareness and the transactions used in MBS?
H01: There is no significant relationship between awareness and type of transaction used
Table 4.10: Pearson’s Correlation between Awareness and Transactions Used
Variables Transaction Used Sig.
Awareness -0.244 0.081
Note: * Correlation is significant at the 0.01 level, N=52
Table 4.10 shows the result for correlation coefficient between awareness and transactions used by the respondents when adopting MBS is r= -0.244 which is weak. The significant level is 0.081>0.01 or p>0.01 which indicates that there is no significant relationship between awareness and type of transaction used. Thus, the hypothesis is failed to reject.
4.4.2 To examine the relationship between students’ awareness and the reasons for adopting MBS.
Research question: Is there any relationship between students’ awareness and the reasons for adopting MBS?
H02: There is significant relationship between awareness and reasons for adopting MBS.
Table 4.11: Pearson’s Correlation Analysis between Students’ Awareness and Reasons for Adopting MBS
Variables Reasons Sig.
Awareness -0.375** 0.006
Note: ** Correlation is significant at the 0.01 level, N=52
The findings presented in the table is r=-0.375 which indicates that the correlation is medium. The significant value is 0.006 which is p<0.01. This shows that there is positive relationship between awareness and reasons for adopting MBS. Thus, the hypothesis is failed to reject.
Based on the results for the analysed data, it is proven that through reliability test, the questionnaire built for the study is reliable. From the Pearson’s correlation analysis, it shows that both hypothesis constructed are failed to reject because of the significant values formed
DISCUSSIONS, IMPLICATIONS AND CONCLUSIONS
In this chapter, a summary of demographic profile of target respondents and the results for the analysed data has been pointed out. Further, this chapter also provides major findings, implications and recommendations for future use.
5.2 Summary of Descriptive Analysis on Respondent’s Background
A set of modified questionnaire has been distributed through email to students from Sultan Idris Education University but only 52 sets were responded. Based on the
respondents who have took part in responding the questionnaire, majority of them are female. Most of the respondents are in age ranged 19-22, bachelor’s degree students. However, majority of the respondents are in their 8th semester which from the ranged of age between 23 years to 26 years old.
Based on the study, it is found that most of the respondents are mobile banking users by 71.2% equal to 37 of the respondents, 21.2% are not and other 7.7% are potential users. This can be conclude that mobile banking services are secure to use, with the awareness of the services, it drawn people to adopt it based on the reasons why the respondents are adopting and using the mobile banking services in their daily life.
5.3 Discussion of Descriptive Analysis
5.3.1 Respondents’ Awareness and Source
From the analysed data, it has been found that 50 respondents from 52 are aware of mobile banking services based on their responds to mobile banking in Malaysia. The number shows that majority of the students are aware with mobile banking services. Further, based on the source of awareness, it has been found that most of the respondents knew about the services through internet with 75% of them and the least is through banks’ brochure. It is normal in society to find out about something through internet with the advanced technology these days where society can reach anything they want know with only by the tip of fingers.
5.3.2 Type of Transactions Used
Based on the data analysis, majority of respondents strongly agree with the use to check their account balance with 4.21 mean that indicates high average than other types of transaction which can be say it is the main activity occurred among mobile banking users followed by money transferring as the second most occurred transaction. Meanwhile, requesting for issue of cheque book is the least transaction that would be made by the respondents since majority of them are still young that they does not have any requirement to use the cheque book.
5.3.3 Reasons for Adopting MBS
Based on the table shown, the mean score for the reasons to adopt MBS is in moderate high level with value 3.80 that can be acquired by total up all 10 items’ means then divide by 10 to get the average number. For detail, it can be seen that lots of friends using MBS got the fore most priority with the mean score of 4.17, followed by service is offered by banks they acquainted to, easy to use, convenience, speed in using the services, the cost is not a burden, m-banking progress is clear, security of PIN, no need to go to bank branches and the least is awareness towards MBS with 3.38 score of mean.
With the highest mean score at 4.17, it shows that the students are adopting M-Banking because of their friends who also using the service. This can be also inferred that the students followed their friends who might have recommend them to adopt mobile banking service to ease them in times such as when they need to transfer money of when they want to purchase something from online shops.. Next reason is that because the services are offered by banks or financial institutions the students acquainted to such as if the students have opened account at Maybank, they can use mobile banking services that have been provided by the bank using application called Maybank2u mobile. Mobile banking being easy to use also one of the reason why the students adopted this service since it can be access wherever students are and whenever they have the need to use the service.
Further, the service is convenient as one of the reason has been agreed upon since in this century it is important adopt this kind of service. The speed in using the services is also one of the reasons that influenced the students to make any transactions in mobile banking services, followed by the cost that is not a burden to the students. Next, students are agree that m-banking progress is clear and security of PIN seems to be another reason that influenced students to use mobile banking service which it can be say that the service provided is trustworthy. MBS is very useful there is no need for them to go to bank branches especially when they are in rural areas that are far to go to the branches just to check their bank account or to transfer money. Thus, that intrigued them to use the services.
5.4 Discussions on Inferential Analysis
Inferential analysis has been conducted in order to test the hypothesis constructed for the study that are, H01 and H02 using Pearson’s Coefficient Correlation. Both hypothesis have been analysed and are all failed to reject. The results have been shown in Table 4.10 for H01, proved that there is no significant relationship between awareness and transactions used. Meanwhile, Table 4.11 presented H02 which resulted that there is significant relationship between awareness and reasons for adopting MBS.
The results obtained from this study can be used to provide suggestions to banks and financial institutions for a better improvement in MBS (Lim et al., 2013). Plus, it is proven that university students do aware of mobile banking services which had led them to use the service. This can be seen through the analysed data which have affected the students to adopt MBS.
As mentioned earlier in this paper, the adoption of mobile banking in Malaysia is said to be at infant level, but then based on the findings, it can be said that there have been an increasing in the number of mobile banking users. Nevertheless, there is still the need for banks and financial institutions to improve the service by providing multiple services into the mobile banking system to attract more customer to be a part of mobile banking services’ users (Shi, 2009).
5.6 Recommendations for Future Research
Since this study has been conducted limited to only students of Sultan Idris Education University, therefore the result found might be not similar with the study performed in other parts of Malaysia especially in other countries. As according to Laforet and Li (2005), because of the differences between culture, there also will be differences in demographic characteristic and behavioural towards online or mobile banking services. Thus, future studies are recommended to be conducted in other countries especially in other academic institutions to determine the reasons for the adoption of mobile banking services.
For this chapter, as stated there have been discussions, implications and recommendations presented based on the findings. Besides that, all of the objectives and questions developed for the study have been required.
From the findings, it is proven that there is awareness among university students based on the result found and it can be concluded that the main reason MBS was adopted is because of the students’ awareness toward the service based on the mean ranks as shown in table 4.9, the reasons for adopting MBS. This concludes that when someone is aware of something, such as a product or a service, it is a proof that he or she will buy the product or use the service even if it is only an intention to do so.
For this study, the students are aware of the MBS which led them to adopt the service caused them to adopt it, equivalence to the significance of the relationship between awareness and the reasons for adopting MBS.
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