Determinants of Consumers’ Intention to Use Mobile Banking in Malaysia: The Moderating Role of Education

Johan Ariff Jafri, Syajarul Imna Mohd Amin, Aisyah Abdul Rahman, Shifa Mohd Nor, Khaira Amalia Fachrudin
Faculty of Economics and Management, Universiti Kebangsaan Malaysia
Institute of Islam Hadhari, Universiti Kebangsaan Malaysia
Faculty of Economics and Business, Universitas Sumatera Utara



Despite its plausible proliferation, Fintech entails increasing cybersecurity and trust issues. Thus, education is vital in moderating factors related to technology acceptance in using Fintech. This research aims to investigate the factors that influence Malaysian consumers to utilise mobile banking services. It integrates the UTAUT (Unified Theory of Acceptance and Use of Technology) model with perceived security and trust and uses education as a moderator. It used the convenience and quota sampling technique, with 399 responses collected through a survey. PLS-SEM analysis discovered that social influence and performance expectancy positively impacted the willingness of individuals to adopt mobile banking. Meanwhile, effort expectancy, system quality, trust, and perceived security are insignificant. Education moderates the relationship between intention and one factor (social influence). This research enlightens banks and policymakers in understanding consumer behaviour in promoting Fintech applications in banking.

Keywords:  UTAUT; trust; perceived security; education; mobile banking