Abstract:
The extant literature highlights that mobile banking offers various benefits for consumers. However,
there is only a limited number of studies that investigate mobile banking adoption by the elderly. This
study investigates the factors influencing the adoption of mobile banking by the elderly in a developing
country context. The authors explore the enablers, barriers and perceptions of the elderly towards
mobile banking adoption. Data were collected through interviews and focus group sessions with
respondents from KwaZulu Natal Province in South Africa. The study relies on the Actor-Network
Theory as a lens through which to understand the interrelated factors that influence the elderly’s
perception and adoption of mobile banking. The results reveal a low adoption of mobile banking by
the elderly. In addition, it was evident that the barriers that influence the adoption of mobile banking
by the elderly include a lack of information and understanding, security and trust issues, demographic
factors, language, the complexity of mobile banking applications, and resistance to change. The
identified important enablers towards the adoption of mobile banking include convenience, unlimited
access, cost-effectiveness. The study proposes a mobile banking adoption model for the elderly and
highlights the interrelated technical and non-technical factors influencing mobile banking adoption.
Additionally, it offers design guiding principles aligned to the elderly’s needs and perceptions of
mobile banking.
