Barriers to Adoption of Mobile banking: Evidence from Ghana

The purpose of this research is to investigate the perceived barriers to adoption of mobile banking among consumers, and to assess whether the usage of M-Banking is constraint on the basis of different demographic characteristics such as age, income level, mobile phone usage “experience” and marital status. Data were collected using convenient sampling via self-administered questionnaire in a large university in the Ashanti region of Ghana. A total of usable 189 responses were collected from non-users of mobile banking and retained for analysis using SPSS version 16. The main reasons for rejecting M-Banking were explored using simple descriptive analysis, while chi-square tests were used to assess differences between socio-demographic variables and the rejection factors. The result indicates that majority of respondents do not use any kind of mobile banking service. The four main reasons for rejecting M-Banking were: M-banking requires knowledge and learning; M-banking attract additional banking charges; poor telecommunication network; consumer preference for traditional means of banking instead of mobile enabled banking services. The practical implications of this research is the revealing of the main barriers to Mobile banking adoption and suggesting of appropriate marketing strategies to overcome the obstacles to mobile banking adoption.