Students towards a Cashless Society through Mobile Banking: Evidence from an Emerging Country
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This study has been carried out to examine key factors influencing students' engagement in a cashless society through mobile banking apps in Bangladesh. To attain the objectives of the research, this study implements an extended Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) framework integrating two additional constructs: perceived risk and trust. The study analyzed data from 274 valid responses from private university students in Bangladesh. The proposed framework was analyzed via Structural Equation Modeling (SEM) with SmartPLS. The outcomes reflect that facilitating conditions, hedonic motivation, performance expectancy, price value, and trust are major enablers of students’ behavioral intentions towards mobile banking apps. Perceived risk was found to be a significant inhibitor of their intention to use mobile banking. The findings further revealed that effort expectancy, habit, and social influence did not significantly predict students’ behavioral intention to use mobile banking apps. A moderate explanatory power has been projected by the model, which explains 52.8% of the variance in behavioral intention. Findings of the research provide practical insights for banks, fintech service providers, and policymakers in designing strategies to promote mobile banking usage and expedite the shift towards a cashless society in emerging countries.
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