Mobile Banking Adoption for Digital Financial Inclusion

This study aims to determine the challenges customers face during mobile banking adoption. Mobile banking usage is increasing in India, yet not at that pace, especially in rural areas where smartphones’ penetration also increases. It is pertinent to address the issues that encounter the diffusion of mobile banking at the mass label. This research determines customers’ various risks and their impact on mobile banking adoption. This research is a descriptive study that collected data through a structured questionnaire from 250 respondents from a small district of India, Gwalior. The study concluded that the three risks of perceived privacy, perceived security, and convenience risk significantly influence mobile banking adoption. This research will be useful for banking and financial organizations, and policymakers to address these challenges at the grassroots level to further diffuse this advanced banking channel.