Adoption Triggers and Barriers of Mobile Banking Services In Nigeria

International Review of Social Sciences, Vol. 2, Issue 9 (September 2014)

13 Pages Posted: 23 Feb 2018

See all articles by Professor Edwin Agwu

Professor Edwin Agwu

London - United Kingdom

Atuma Okpara

National Open University of Nigeria - School of Management Sciences

Ikpefan Oche Ailemen

Covenant University - Department of Banking and Finance

Francis Odianonsen Iyoha

Covenant University

Date Written: 2014

Abstract

There has been tremendous growth in mobile banking penetration in many countries in the developed and developing economies and most interestingly in a number of developing countries such as Nigeria. Yet there are numbers of opportunities and threats in the mobile banking systems. However the major threat of mobile banking is its non-adoption by the banking customers. This research focuses on the perceived barriers to mobile banking adoption in Nigeria as a developing economy. The study adopted an exploratory qualitative method and this was conducted among banking customers spread across three regions of North, West and East of Nigeria. The basis of participants’ selection was being active customers of the Nigerian banks. Findings indicate that there is intention to adopt the mobile banking services; unfortunately, the intentions cannot be translated into action due mainly to lack of trust on issues such as the delivery channels/technology, communication infrastructures, government policies, etc. Findings further revealed that majority of respondents do not use internet and mobile banking services, due to several identified barriers. There is however a preference for the traditional banking approaches as opposed to the mobile banking services. The study recommends that banks and other financial institutions embark on massive awareness campaign.

Keywords: Mobile Banking, Customers, Mobile Phones, Marketing, Nigeria

Suggested Citation

Agwu, Professor Edwin and Okpara, Atuma and Ailemen, Ikpefan Oche and Iyoha, Francis Odianonsen, Adoption Triggers and Barriers of Mobile Banking Services In Nigeria (2014). International Review of Social Sciences, Vol. 2, Issue 9 (September 2014), Available at SSRN: https://ssrn.com/abstract=3122383

Professor Edwin Agwu (Contact Author)

London - United Kingdom ( email )

United Kingdom
London, 7500
United Kingdom

Atuma Okpara

National Open University of Nigeria - School of Management Sciences ( email )

14/16 Ahmadu Bello Way
Victoria Island Lagos
Lagos Island, Lagos
Nigeria

Ikpefan Oche Ailemen

Covenant University - Department of Banking and Finance

P.M.B. 1023
Ota, Ogun State
Nigeria

Francis Odianonsen Iyoha

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

Do you want regular updates from SSRN on Twitter?

Paper statistics

Downloads
100
Abstract Views
472
rank
355,275
PlumX Metrics