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Influence of Demographic Variables on Determinants of Internet Banking Adoption

The proliferation of internet technology and financial innovations has globally revolutionized the delivery of banking services. Internet banking offers substantial benefits, such as reduced transaction cost, convenience, and flexibility to the customers as well as to the banks. Despite the apparent advantages, prevalence of internet banking services is at its nascent stage. The study aims at determining the consumer psychology and user’s perception towards internet banking. Extensive study on prior research and available literature has been made and variables are identified to study the customer perception on internet banking adoption. Descriptive research was undertaken and primary data were collected through self-administered questionnaires, which yielded 602 valid responses. Influence of demographic variables and psychographic variables on the determinant was analyzed. The results revealed that demographic variables significantly influence consumer perception on internet banking adoption. Implications would help bank managers and policy formulators to build customer specific strategies to escalate usage of internet banking services.