MOBILE BANKING ADOPTION AMONG CUSTOMERS WITHIN PRIVATE COMMERCIAL BANKING SECTOR IN YANGON, MYANMAR

Abstract

Obviously, there are two sectors of the industry that are balanced for phenomenal development in Myanmar: telecommunications and financial services. One can just envision how energizing the prospects may be for the cover between the two: mobile financial services. Due to the liberalization of the telecommunication market in Myanmar, the private banking sector is trying to introduce mobile banking system. The rise of electronic money is becoming popular. Paying for groceries with a wave of an SMS, sending some money to a relative in another region or receiving one’s Government pension per mobile bank account may additionally soon become a part of every-day lifestyles in Myanmar. In Myanmar, booming of mobile technology has had many impacts on individuals, enterprises and government employees at a different level. The different researchers found out the several factors as contributing either positively or negatively to the adoption of Mobile banking technology. Due to its ubiquitous nature and to deduct the cost of setting up new branches in their areas of operations. For this effort to be felt and for the technology to be implemented successfully, there is a need to realize the factors contributing to its adoption by the customers. This study was carried out to explore the effects of important factors that affect that adoption of mobile banking technology by customers of Private Commercial Banking Sector in Yangon, Myanmar.  A sample of 200 users was selected randomly and researcher extended the Technology Acceptance Model (TAM) framework. The study found that both perceived usefulness and perceived ease of use positively and affects the adoption of mobile banking technology positively. On the other hand, Perceived Risk and Perceived transaction costs were found to have a negative correlation with the adoption of mobile banking technology.