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Consumer perspectives about mobile banking adoption in India – a cluster analysis

Deepak Chawla (Department of Management, International Management Institute, New Delhi, India)
Himanshu Joshi (Department of Management, International Management Institute, New Delhi, India)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 5 June 2017




The purpose of this paper is to identify which factors influence mobile banking adoption and examine those factors for segmentation, using a sample of Indian consumers.


In total, 59 statements were identified based on a literature review, focus group discussions and personal interviews. Exploratory factor analysis was conducted to identify the relevant factors. An online survey of 367 mobile phone users in India was conducted. Confirmatory factor analysis was conducted using structural equation modeling. Appropriate statistical techniques (hierarchical cluster analysis, k-means cluster analysis) were used to segment the users. A profile of each segment was developed based on demographics, mobile banking services used, and attitude and intentions toward mobile banking. Further, a post hoc test was used to test the variation between the obtained clusters and user attitudes and intentions toward mobile banking. The demographic characteristics of users within each cluster were also examined.


Mobile users were segmented into three clusters based on their perceptions of various factors influencing mobile banking. These segments were labeled as technology adoption (TA) leaders, TA followers and TA laggards. The results show that both attitude and intentions toward mobile banking significantly differs across the three segments. In terms of relative positioning, TA leaders have the most favorable attitudes and intentions followed by TA followers, and TA laggards. Age was found to significantly influence TA and usage.

Research limitations/implications

The findings of the study are based on responses from young, educated and salaried Indian consumers from large metro cities. Therefore, it is important to include respondents from smaller cities and towns to be able to generalize the findings. The sample is skewed toward users having accounts with private banks and hence, a balanced representation of respondents from public and private sector banks would help in identifying gaps pertaining to each sector. In future research, attempting to compare the results with other developing and developed countries may be beneficial.

Practical implications

The results offer service providers better knowledge about typical mobile banking user segments, providing banks with ideas for customizing their services to meet customer expectations.


This paper provides insights into factors that influence mobile banking adoption in India, which has not been investigated. In contrast to earlier studies conducted on internet banking, this study attempts to examine the perceptions, attitudes and intentions of mobile users. Although traditional TA models and theories of technology diffusion have been used, this study attempts to tailor the model specifically for mobile banking.



Chawla, D. and Joshi, H. (2017), "Consumer perspectives about mobile banking adoption in India – a cluster analysis", International Journal of Bank Marketing, Vol. 35 No. 4, pp. 616-636.



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