Analysis of Barriers in Mobile Banking Services which Affects Consumer Utility and Bank Channel Cost

Mobile banking is growing with a good pace in India but it has issues and threats the major problem of mobile banking is its non-adoption by the customers. Over the years, banks are following traditional brick-and mortar model of customers queuing for services in the banks. In the era of web2.0 banks can be reached at any point for their services. In today's business, technology has been on the predominant indicators of growth and competitiveness. The banking industry adopting new strategies to serve best services to their customers it may call as revolution. Information technology has basically been used under two different avenues in banking. One is communication and connectivity and other is business process. Today, banks have welcomed wireless and mobile technology into their operation to offer their customers the freedom to pay bills, planning payments while stuck in traffic jams, to receive updates on the various marketing efforts while present at a party to provide more personal and intimate relationships. This paper examines consumer adoption of a new electronic payment service as mobile banking and the factors influencing the adoption of mobile banking in India. This research focuses on the barriers in adoption of mobile banking. It further focuses on preferred services by the mobile banking customers and influence of demographic variable on mobile banking service adoption.