Applying the technology acceptance model to the online retailing of financial services

Abstract

Purpose -Extant research has examined consumer acceptance of the internet in various contexts mainly as a dichotomy (adoption/non-adoption), thus ignoring the process underlying adoption. This paper aims to provide insights into factors determining the extent to which an innovation is adopted. Design/methodology/approach -The paper reviews the literature on the technology acceptance model (TAM), and justifies the use of this model to explore the factors contributing to the extent to which consumers use the internet as a distribution channel for financial services (FS). Data are collected through telephone interviews with 300 UK consumers responding to a questionnaire. Findings -The application of the TAM model is helpful but additional links need to be included.The key drivers of extent of use are past experience with the internet as a purchasing channel (for non-FS) and attitudinal aspects, i.e. positive emotions towards the internet as a distribution channel for FS. Insecurity about this channel does not appear to be an obstacle and perceived usefulness is not directly linked to extent of use but fully mediated via attitude towards the channel. Consumers with computer access from home, those with an active interest in FS, as well as consumers who have general online purchasing experience tend to find this channel easy to use, which, jointly with perceived usefulness, leads to a positive attitude toward this distribution channel.Research limitations/implications -The findings are limited to the FS online retail context and may not be generalisable beyond this context. Future research should be considered using a longitudinal approach. Practical implications -FS retail providers should consider prior experience with the internet as a distribution channel and product category involvement as segmentation bases, and also provide more opportunities for consumers to try and observe the internet as a distribution channel. Originality/value -This research explores the determinants of consumer acceptance of online retailing from a process-based rather than a binary view of adoption of an innovation.

Perceived Risk, Perceived Technology, Online Trust for the Online Purchase Intention in Malaysia

“…Perceived usefulness is defined as the degree to which an individual believes that using a particular system would enhance his or her job performance (Davis, 1989;Lee, et al, 2006, Erikson, et al, 2004Henderson and Divett, 2003;McKechnie et al 2006, Doll et al, 1998. According to Gefen et al (2003), perceived usefulness is a measure of the individual's subjective assessment of the utility offered by the new information technology in a specific task-related context.…”

“…The perceived ease of use is defined as the degree to which a person believes that using a particular system would be free of effort (Davis, 1989;Doll, Hendrickson and Deng, 1998;Henderson and Divett, 2003;Erikson, Kerem and Nilsson, 2004;Lee, Fiore and Kim, 2006;McKechnie, Winklhofer and Ennew, 2006). Perceived ease of use is also defined as an indicator of the cognitive effort needed to learn and to utilize new Information Technology (Gefen, 2000).…”

A Study of Users and Non-Users of Internet Banking in Malaysia

“…According to [12], Internet banking customers service quality, online information system quality, banking service product quality, overall internet banking service quality and customer satisfaction were found to be significant factors affecting adoption of internet banking. According to [42] consumers with Internet access from home, active interest in Financial Services, consumers having general online purchasing experience tend to find this Internet banking easy to use. [43] highlighted that customer private data management is a major concern in adoption of Internet banking.…”

Comparing drivers of social media marketing adoption by salespeople in Australia and the USA: a pilot study

“…For example, TAM has been widely applied and empirically supported to predict the adoption of information technology (Taylor and Todd, 1995), computers , and technology-based self-service (Dabholkar and Bagozzi, 2002). The adoption of such diverse technologies as mobile commerce (Wu and Wang, 2005), financial services (McKechnie et al, 2006), multimedia instruction (Saadé et al, 2007), and online games (Hsu and Lu, 2004) has been successfully predicted by TAM. TAM has also been applied to such personal communication technologies as e-mail (Straub et al, 1997), cellular phones (Kwon and Chidambaram, 2000), and instant messaging (Lu et al, 2009).…”