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This paper aims to assess the direct effects of antecedents of initial trust, the mediating effect of trust and the moderating effect of demographic variables on non-adopters’ behavioral intention to use mobile banking.

The study tested the models of theory of reasoned action and theory of planned behavior to evaluate potential antecedents of trust (diffusion of trust, infrastructure quality, perceived costs, privacy and security) moderators (demographic variables) and mediators (initial trust) that will influence behavioral intention to use mobile banking. The Hayes’ Process Macro developed by Andrew F. Hayes (2013) was used as a statistical analysis in SPSS to estimates the path coefficients using multiple regression. The tool provides insights on the direct and indirect effect of the independent variable on the dependent variable through the existence of moderating variables and mediation variables.

The results show that the non-adopters of mobile banking asserted that the antecedents of initial trust played a significant influence on behavioral intention to use online banking services.

There is a dearth of literature addressing mobile banking in the Philippines. The first initial trust formation in internet banking using computer workstations and laptops in the Philippines was conducted by Chiu et al. (2016). This research fills in the gap by expanding and formulating a deeper understanding of the antecedents of initial trust that influence consumer behavioral intention that might be responsible for the slow diffusion of mobile banking services in the country. The results from this study will help financial institutions create a beneficial connection with consumers while alleviating the fears of non-adopters and enhancing their understanding of the benefits of mobile banking.