The current issue and full text archive of this journal is available on Emerald Insight at:

www.emeraldinsight.com/0265-2323.htm

IJBM
38,2 An analysis of factors affecting
mobile banking adoption
Samer Elhajjar
Department of Marketing, Faculty of Business and Management,
352 University of Balamand, Koura, Lebanon, and
Received 12 February 2019 Fadila Ouaida
Revised 10 May 2019 Universite Paris 13, Paris, France
13 May 2019
31 May 2019
Accepted 4 June 2019
Abstract
Purpose – The purpose of this paper is to develop a conceptual model that explains the most important
factors affecting mobile banking adoption for Lebanese banking customers.
Design/methodology/approach – Based on the data collected through a survey, structural equations
modeling and path analysis were utilized to test the hypotheses. In total, 320 questionnaires were collected
from Lebanese customers.
Findings – The results show that digital literacy, resistance to change, perceived risk, perceived ease of use,
and perceived usefulness were found to be the main variables affecting users’ attitudes toward adoption of
mobile banking, whereas awareness and compatibility showed no significant impact on adoption. In addition,
both subjective norms and personal innovativeness influenced users’ adoption moderated the relationships
between usefulness attitude and ease of use attitude.
Originality/value – The study fills a gap in the literature by exploring e-readiness influence on adoption
through testing the variable “digital literacy” and by examining the effect of the frequency of branch visits on
the intention to adopt mobile banking. Social and individual variables, such as social influence and personal
innovativeness, which were rarely examined in past studies, are employed in this research. All of our
respondents were actual bank account holders.
Keywords Mobile banking, Resistance to change, Consumer behaviour, Internet marketing
Paper type Research paper

Introduction
Life in the twenty-first century is so different from the years before – everything has become
so easy, practical and fast-paced. Some might believe that this is a good kind of different,
while others do not accept such changes very easily. However, all manmade technologies
have been influential on human life. Recent technological advancements, including the
introduction of the smartphone, have significantly altered the way individuals communicate
and interact with other people and organizations (Burucuoglu and Erdogan, 2016).
The surge in digital innovations has rendered mobile users considerably more dependent on
their devices. Mobile phones lead to a plethora of benefits that facilitate daily activities, since
they enable users to easily connect with others, access useful applications, and enjoy
entertaining content on the go. However, the integration of technology in people’s daily lives
has increased consumer demands for superior quality and fast-paced services (Burucuoglu
and Erdogan, 2016). In order to keep up with the current trends and satisfy users’ need for
efficiency, a multitude of industries are offering innovative developments that aim to
enhance users’ experience through mobile technology. The banking industry is among the
most advanced and innovative industries out there, and everyday, there is some new
introduction to the banking world which makes banking experience easier and more
beneficial for millions of clients in the world. The global banking industry has actually
International Journal of Bank
Marketing modified its service offerings through the use of technology by integrating banking services
Vol. 38 No. 2, 2020
pp. 352-367
with the internet, to enable users to engage in online purchases and e-commerce.
© Emerald Publishing Limited
0265-2323
Therefore, the banking sector has introduced mobile banking to enable users to efficiently
DOI 10.1108/IJBM-02-2019-0055 conduct financial transactions on mobile devices (Zhou, 2011). Laforet and Li (2005) explain that
mobile banking has added the pure mobility element to service consumption and helped Mobile
customers gain adequate access to banking services everywhere, even in developing or under- banking
developed countries with low incomes. Mobile banking is becoming more common everyday to a adoption
point where it has proved to be an integral constituent of how businesses run today and
inseparable from businesses worldwide (Laforet and Li, 2005). In 2017, the digital banking
system adoption rate of bank account holders was 54 percent, a fair increase from 2016’s level of
38 percent. Nevertheless, mobile banking faces many challenges as some scholars note that it is 353
still in its early stages and still has to gain the trust of potential customers (Zhang et al., 2012).
In Lebanon, the banking system is a very dynamic industry and is one of the strongest in
the Arab world; its international rank in terms of soundness of rankings is 23rd (Audi, 2015).
Banks in Lebanon are continuously competing on market share and thus mobile banking
would play a vital role as a key competitive advantage for those banks in the lead when it
comes to using this technology. With Lebanese banks opting for innovations, great
opportunities are being introduced for cooperation with fintech firms. Similar to the majority
of developing countries characterized with the progressive use of technologies and mobile
devices (Malaquias and Hwang, 2016), Lebanon has seen mobile banking start to gain a
significant share within the banking industry.
The results of this study are expected to enrich current knowledge by analyzing the
dynamics of mobile banking adoption in Lebanon and exploring factors that affect the
adoption of mobile banking among Lebanese customers. The study fills the research gap by
providing a richer and more encompassing model, and a more representative sample in
comparison to the only research conducted in the country. Moreover, we aim to provide
insights into how individual traits and social stimuli such as personal innovativeness and
subjective norms affect mobile banking adoption. Thus, our research is valuable because
past literature focused on environmental aspects and did not study social and personal
variables. Also, considering that previous studies in Lebanon failed to include
representative samples, and mostly consisted of samples of university students, our
research can be considered as the first attempt to address this subject in Lebanon in a
systematic way and encompassing more representative respondents. Finally, in our
questionnaire, we introduce for the first time to our knowledge the “number of branch visits”
question. Our aim is to explore whether any link exists between the number of visits to the
branch and a customer’s transactions frequency and his intention to adopt mobile banking.
We believe that the results of our study will enable banks, which are constantly in
competition over market share, gain a deeper understanding of the limitations blocking
this adoption process, enabling them to set their strategies accordingly to cope with the
actual situation.

Literature review
Zhou (2012) states that mobile banking is the use of a mobile device for the conduction of
banking tasks without the need to physically visit the bank (Zhou, 2012). Audi et al. add to the
existing definition by stating that mobile banking acts as a banking channel that allows users
to engage in various financial transactions, such as writing cheques, transferring money, and
paying bills, using the internet on mobile devices. Account holders can interact with their
banks without the need to be physically present in the branch to conduct financing activities.
Mobile banking is available through an application, created by each individual bank, which
allows users to access their own personal accounts and choose the type of transaction they
wish to implement through mobile phones. This technology was developed to enhance banking
efficiency and enable customers to conduct their banking activities on the go, while reducing
the burden caused by waiting queues in banks. Akturan and Tezcan (2012) mention that
mobile banking yields numerous benefits to users, including instant connectivity, interactivity,
time optimization and convenience (Malaquias and Hwang, 2016). Laforet and Li (2005) add
IJBM that this innovation in the financial services sector highlights the element of pure mobility to
38,2 service consumption.
Farah et al. (2018) report that mobile banking was used by almost 1bn people in 2017.
The number of individuals using this technology is forecasted to significantly grow during
the next few years. According to Zhou (2012), the surge in the use of mobile banking can be
partially attributed to the global increase in the use of smartphones as over 356 m people in
354 China alone own a smartphone device. Another element that is influencing the growth of
mobile technology is its ability to grant users a high degree of flexibility and mobility. This
helps eliminate international borders since users can conduct transactions at any time and
any day to any part of the world, regardless of the bank’s operating hours or time zone
differences (Zhou, 2012). For instance, in order to improve customers’ banking experiences,
Lebanese banks recently launched a series of programs and services, including mobile
banking. However, the reception was not very favorable since the scholars note that a large
portion of the Lebanese public is reluctant to adopt this technology. Based on market
research, it was noted that there is a deficiency in the awareness and understanding of the
benefits of this technology. The Lebanese public is, thus, unaware of the usability,
compatibility and flexibility of mobile banking services. This explains why the prevalent
customer attitude ranges between neutral or unfavorable.
Burucuoglu and Erdogan (2016) state that one of the main hindrances to the advancement
and growth of mobile banking services pertains to users’ unwillingness to try mobile banking
because of a lack of trust. Zhou (2012) adds that this often occurs with new disruptive
technologies that have never been tried by consumers. The most prevalently studies variables
by scholars, pertaining to mobile banking adoption models include trust and value. Laforet
and Li (2005) report that trust significantly influences customers’ behaviors and their
willingness to adopt a new technology. They add that trust is one of the most important
factors sought out by companies since it often acts as the basis of professional interactions and
directly contributes to long-term relations. Malaquias and Hwang (2016) state that the
particular technology of mobile banking can be difficult to trust since consumers who are not
aware of its privacy and security processes worry about information and identity theft, as well
as faulty transactions. Another factor that negatively influences perceived trust and adoption
is the fact that it offers a narrow display, restricted online information, and a slower processing
pace depending on the speed of the internet (Zhou, 2012). According to Makongoro (2014), the
level of trust of an individual is linked to the perceived degree of goodwill and integrity
whereas the level of risk of a certain process is associated with the notions of security and
privacy. In most cases, an increase in perceived risk is negatively linked to trust since risk is
often regarded as a limitation to safety and confidence (Malaquias and Hwang, 2016). In the
field of mobile banking, the perceived risk pertains to the risk associated with losing data,
failing to obtain proper access as well as other security threats that the consumer must accept
prior to engaging in mobile banking (Makongoro, 2014).
Zhou (2012) claims that numerous academic theories have emerged that try to identify the
factors that impact user adoption and examine how an innovative technology can be positively
perceived by prospective users. The theory of technology acceptance model (TAM) has proven
to be very interesting and has been paid significant academic attention. The TAM was
developed by Davis et al. (1992) and is the most prevalently used technology adoption theory
as it explores the factors that influence people’s trial and usage of a new technology. The
model suggests that individuals go through a 4-step sequential process, starting from belief
and ending at behavior. The model takes into account the degree of perceived usefulness of a
system as this can play an important role in prospective users’ readiness to adopt a
technology. However, a major limitation of the TAM is that it does not take into account
demographic or economic differences, which, as Burucuoglu and Erdogan (2016) noted, can
affect the user’s readiness to adopt a new technology. Furthermore, this model does not take
into account the restrictions and constraints some users may be subjected to when choosing Mobile
which technology they should adopt. TAM is depicted in Figure 1. banking
In this study, our intention is to explore customer’s intention to use mobile banking adoption
(dependent variable) with respondents who live in Lebanon. In our model, we consider nine
relevant factors affecting consumer’s intention directly or indirectly that other researchers
already have studied, of which five are barriers: perceived risk, resistance to change, awareness,
compatibility, perceived usefulness, perceived ease of use; two are moderators: subjective norms 355
and personal innovativeness; another independent variable, consumer attitude; and we also
added a new variable that was not covered before (digital literacy) aiming to capture a potential
added value in perception from people that previously studied this area of technology.

Digital literacy
Shaikh and Karjaluoto (2015) claim that there is no study that has directly examined the
conduct of smartphone and tablet users in relation to mobile banking. Likewise, several
researchers recommended that any new research regarding adoption of mobile banking
should take into consideration the factor of e-readiness, an aspect that has been neglected in
previous studies (Servon and Kaestner, 2008; Medhi et al., 2009). In 2013, The American
Library Association defined digital literacy as “the ability to use information and
communication technologies to find, evaluate, create, and communicate information, requiring
both cognitive and technical skills.” People with higher e-skills are able to better navigate the
internet. Additionally, banks offer mobile banking services via digital platforms like
smartphones and tablets or Website pages. Therefore, we suggest that the greater the digital
literacy skills one possesses, the more his or her possibility to adopt mobile banking. In this
study, however, its effect is examined through perceived ease of use and perceived usefulness:
H1. Digital literacy has a negative effect on the perceived ease of use of mobile banking.
H2. Digital literacy has a negative effect on the perceived usefulness of mobile banking.

Resistance to change
The adoption of innovation often involves some kind of change in a consumer’s life; their
habits are being molded to fit new trends. Understandably, this usually means consumers
will normally resist innovation, and the greater the change, the greater the resistance
(Claudy et al., 2013). This also applies to adapting to new technologies. Al-Somalli et al.
(2009) state that in order for a consumer to accept a change in technology and show less
resistance, particularly with mobile banking, it has to somehow satisfy their needs/
demands. Therefore, a consumer’s negative attitude toward the usage of mobile banking is
dependent on the level of resistance:
H3. Consumer resistance negatively affects the perceived ease of use negatively of
mobile banking.
H4. Consumer resistance negatively affects the perceived usefulness negatively of
mobile banking.

Perceived
Usefulness
Intention to Usage
Use Behavior
Perceived Figure 1.
Ease of Use Technology
acceptance model
Source: Davis et al.
IJBM Risk
38,2 Afshan and Sharif (2016) found that trust in the use of mobile banking is the main factor
affecting customers’ attitude toward the adoption of mobile banking. Risk is also affecting
consumers’ behaviors toward customers’ intention to use mobile banking (Zhou, 2011).
Furthermore, risk has also been found to affect consumers’ behaviors through perceived
ease of use and perceived usefulness (Yang, 2009). Hanafizadeh et al. (2014), in a study on the
356 adoption of mobile banking, conclude that mobile banking contains more risk than other
devices because of “distant connection.” They conclude that the provision of secure financial
transactions was key. In fact, perceived risk is classified into six main categories of risk:
functional, physical, financial, time, psychological and social risk.
According to Liao et al. (2010), individuals are more inclined to avoid mistakes rather
than to increase utility when engaging in risky decision making. In addition, people are
generally apprehensive when they cannot be certain that purchases will allow them to
realize their goals. Perceived risk can, therefore, be considered a function of the uncertainty
about the potential outcomes of a behavior (Forsythe and Shi, 2003). Ultimately, the more
the risk involved, the more resistant people will be. Thus, when there is a high level of
perceived risk in mobile banking, there will be a more negative attitude toward it:
H5. Perceived risk has a negative effect on the perceived ease of use of mobile banking.
H6. Possible risk negatively affects the perceived usefulness of mobile banking.

Compatibility
Compatibility has also been brought up as a determining factor for the adoption of mobile
banking in terms of whether it complements the way consumers think and act (Verrecchia,
2016). Several scholars have carried out studies to identify the factors that affect mobile
banking adoption and have found that compatibility has a strong impact (Verrecchia, 2016).
It has also been seen as adding familiarity to the way consumers perceive innovation, and so
the chances of adoption increase (Hanafizadeh et al., 2014). It does not only affect adoption but
also the perceived ease of use and perceived usefulness (Hanafizadeh et al., 2014). Therefore,
the more compatible mobile banking is, the more positive consumer attitudes will be:
H7. Compatibility positively affects the perceived ease of use of mobile banking.
H8. Compatibility positively affects the perceived usefulness of mobile banking.

Awareness
Mobile banking as an innovation is new by definition. So, awareness can be seen as a barrier
toward accepting it and adopting it (Al-Somalli et al., 2009). In their study on awareness of
internet banking, Hanafizadeh and Khedmetgozar conclude that awareness reduces perceived
risk. They have also considered awareness as an important factor affecting the adoption
and attitude toward mobile banking. Sharafi et al. (2017) also claim that the awareness of
online/mobile banking affects perceived ease of use as well as perceived usefulness. Hence, the
greater the awareness, the more positive the attitude:
H9. Awareness positively affects the perceived ease of use of mobile banking.
H10. Awareness positively affects the perceived usefulness of mobile banking.

Perceived ease of use

The perceived ease of use refers to the level to which a person believes that using a
technological system would be effort-free (Davis, 1989). Davis (1989) claims that perceived
ease of use drives the acceptance of these new systems. Customers resort to mobile banking Mobile
devices mostly to execute simple and quick banking transactions like checking their account banking
balance (Hoehle et al., 2012). In a study by Alalwan et al. (2016), it is noted that ease of use adoption
affects the use of mobile banking positively. Similarly, they add that the perceived ease of
use has an effect on a consumer’s attitude, but through perceived usefulness. Thus, it can be
noted that the perceived ease of use indirectly affects consumers’ attitudes:
H11. Perceived ease of use positively affects consumers’ attitudes of mobile banking. 357
H12. Perceived ease of use positively affects the perceived usefulness of mobile banking.

Perceived usefulness
Perceived usefulness is also a factor contributing to consumer attitudes (Davis, 1989). This,
thus, motivates consumers to adopt innovative and user-friendly systems that allow them
freedom in regards to transactions, payments and more (Zhou, 2011). Customers find mobile
banking time and cost saving since it allows users to perform several transactions like
transferring money, checking account balances and paying bills without resorting to costly
phone calls or branch visiting (Kim et al., 2009). Several scholars have found that perceived
usefulness can have a positive effect on the usage of mobile banking, among which is
Verrecchia (2016). A consumer’s perception of use can greatly contribute to their willingness
to use a certain system (Hanafizadeh et al., 2014); therefore, the greater the perceived
usefulness, the more usage and positive attitudes toward it:
H13. Perceived usefulness positively affects consumers’ attitudes toward mobile banking.
H14. Perceived usefulness positively affects consumers’ intentions to use mobile
banking services continuously.

Attitude and continuance intention

Intention is the dependent variable found in studies done based on the TAM. It is the
likelihood that a consumer will use a system. Several researchers have studied the
correlation between attitude and user intention (Shaikh and Karjaluoto, 2015). All studies
find positive correlations between the two. Attitude is a large predicting tool to determine a
consumer’s intention to continuously use mobile banking:
H15. Consumer attitude positively affects the intention to use mobile banking continuously.

Subjective norms
Subjective norms refer to a person’s perception that people think they should perform a
behavior (Ajzen, 1991). Several studies examined the importance of subjective norm in
regard to mobile applications (Afshan and Sharif, 2016). In this essence, it is predicted that
people have a motive that pushes them into accepting options and recommendations offered
by individuals who are important to them (Malaquias and Hwang, 2016). Subjective norms
have been found to affect consumers’ attitudes, which in turn would have an effect on
perceived usefulness as well as intention. This research intends to test the effect of
subjective norms as a moderator in light of usefulness and attitudes:
H16. Subjective norm affects consumers’ attitudes toward mobile banking.
H17. Subjective norm moderates how perceived usefulness affects consumers’ attitudes
toward mobile banking.

Personal innovativeness
Personal innovativeness has a significant effect on mobile banking adoption (Malaquias and
Hwang, 2016). When a consumer is innovative, he or she sees less risk in using a
IJBM new technology. Among the studies that have shown that the greater the consumer
38,2 innovativeness, the higher the level of acceptance is that of Malaquias and Hwang (2016).
Because of a lack of ability to use different technologies among consumers, personal
innovativeness becomes more important (Kim and Mirusmonov, 2010). This study will test
the effect of personal innovativeness on attitude as a moderator, like a subjective norm,
between the ease of use and consumer attitudes:
358 H18. Personal innovativeness affects consumers’ attitudes toward mobile banking.
H19. Personal innovativeness moderates how perceived ease of use affects consumers’
attitudes toward mobile banking.
Figure 2 illustrates the conceptual model.

Methodology
Quantitative research is conducted to test hypotheses linked to the conceptual framework
and the literature review of mobile banking adoption. We believe that basing the research
strategy on a deductive approach where we study existing theories and literature, and then
test hypotheses that emerge from those theories, is the most appropriate methodology of
research to test the relationships between variables (Bryman and Bell, 2015). Quinlan (2011)
claims that surveys are often used in quantitative research studies. Collection of data from a
large population is standardized and economic when using surveys that use questionnaires.
Since the objective of this research is to examine the degree of mobile banking adoption
in Lebanon, the target population pertained to all adults residing in Lebanon who possess
private bank accounts. The convenience sampling method was used in this research.
Convenience sampling, which was defined by Quinlan in 2011 as a type of non-probability
sampling that enables researchers to easily access a part of the overall population,
facilitated the conduction of this study. To reduce bias and errors when generalizing the
overall population, 380 questionnaires were distributed in the banking halls of four banks
chosen in four different cities, to try to reflect a mix of socio-economic backgrounds. The
actual number of collected questionnaires was 320.
With respect to the measurements of the research, our questionnaire employed the work
of previous studies’ inventories of questionnaire items. Table I lists the sources of the
variables’ scales.
Since some Lebanese prefer the use of the Arabic language, the questionnaire was
translated into Arabic using the back translation model, enabling a bigger number of

Subjective
Digital Literacy H1 Norms
H2
H17
H3 H16
Resistance H14
H4 Perceived
Usefulness
H13
Perception H5
H15
of Risk H12 Attitude Intention
H6
H11
H7
Perceived
Ease of Use
Compatibility
H8
H19
H18
H9

Figure 2. Awareness H10

Personal
Research model Innovativeness
Construct Source Definition
Mobile
banking
Perceived ease of Kim and The degree to which a person believes that using a particular adoption
use (4 items) Mirusmonov (2010) system would be free of effort (Davis, 1989)
Perceived Kim and The degree to which a person believes that using a particular
usefulness Mirusmonov (2010) system would enhance his or her job performance (Davis, 1989)
(4 items)
Digital literacy Van Deursen and The ability to use information and communication technologies to 359
(3 items) van Dijk (2014) find, evaluate, create, and communicate information, requiring
both cognitive and technical skills (American Library Association)
Compatibility Schierz et al. (2010) The degree to which people perceive that an innovation is
(3 items) compatible with the way they think, act and lead their lives
(Hernandez and Mazzon, 2006)
Awareness (3 Al-Somalli et al. The degree to which a consumers is aware of electronic banking
items) (2009) channel (Lee et al., 2007)
Perception of risk Cheng et al. (2006) Certain types of financial, product, performance, social,
(4 items) psychological, physical or time risks when consumers make
transactions online (Wu and Wang, 2005)
Resistance to Al-Somalli et al. Resistance to change is the action taken by people when they
change (4 items) (2009) perceive that a change that is occurring as a threat to them
Attitude (4 items) Schierz et al. (2010) The degree of evaluative effect that an individual associates with
using the target system (Davis, 1989)
Intention (3 items) Schierz et al. (2010) Key likelihood that an individual will use a technology
(Schierz et al., 2010)
Subjective norms Schierz et al. (2010) A person’s perception that most people who are important to him
(4 items) think he should or should not perform the behavior (Fishbein and
Ajzen, 1975)
Innovativeness Kim and Degree of person adoption is earlier in innovation ideas than other Table I.
(4 items) Mirusmonov (2010) members of a social system Variable scale

participants to fill in the questionnaire easily (Brislin, 1976). Furthermore, a pilot study was
conducted to examine the questions’ clarity. In this essence, fifteen questionnaires were
handed to a sample of customers in the banking halls of two banks and were asked to give
their comments and feedback after filling in the questionnaire. The results of the pilot study
show that no changes are needed to our questionnaire. The questionnaire was divided into
two different categories: the first incorporated conceptual framework constructs, whereas
the second included the demographic characters of the respondent’s characteristics like age
and gender.
Furthermore, we looked into the Cronbach’s α values to see whether the scale items have
a level of reliability that was acceptable. Cronbach’s alpha is useful in our research in order
to measure the internal consistency, that is, how closely related a set of items are as a group.
The values of Cronbach’s coefficient α were found to be as low as (0.871) and as high as
(0.975). Therefore, all values were higher than 0.70 as suggested by Nunally (1978).
In total, 55 percent of surveyed participants were male, and 45 percent of the participants
were female. In total, 14 percent of the participants were between the age 18 and 25, 55 percent
were in the age group between 26 and 40, 24.6 percent were aged between 41 and 55, and
the remainder, 5.9 percent, were 55 years old or more. As for the educational level of the
surveyed people, only 4.7 percent of the surveyed people had no degree whatsoever,
followed by 25.5 percent with a high school diploma, and the majority, 55 percent practically,
had a bachelor’s degree and 12.5 percent were Master’s graduates; as for the few elites,
2.2 percent had a PhD.
Moving away from demographic factors, and more into practical analysis, we measured the
frequency of those participants’ visits to the branches of their banks. In total, 10.9 percent of
IJBM them visited the bank everyday, 18.4 percent visited at least once per week, 62 percent went to
38,2 the bank at least once per month, 7.5 percent were the ones who go at least once per year, and
only 4 participants of the total surveyed, that is 1.2 percent did not visit the bank at all.

Results
The data collected from the questionnaire were analyzed using structural equation modeling
360 (SEM). The dependent variable of this study pertained to customers’ behavioral intentions
toward adoption of mobile banking. By examining the values of Mahalanobis d2 squared
distance, Amos output file showed the existence of nine outlier cases all of which had a
p-value o0.001 (see Table II). The multivariate analysis could be enhanced by removing
these outlier cases but then the generalizability would be affected in a negative way doing so
(Hair et al., 2006). Furthermore, with a big sample size, such a small number of outliers
would do no harm to the study (Kline, 2005). Therefore, we decided to keep the outliers as a
part of the data sets.
In order to examine model validity and reliability, an exploratory analysis can be
examined by studying convergent and discriminant validities, and scale reliability
(Hair et al., 2006). Convergent validity studies whether items are correctly reflected by their
corresponding factors, whereas discriminant validity examines if two factors are empirically
different (Anderson and Gerbing, 1988). Table III displays the average variance extracted
(AVE), composite reliability (CR). The values were as proposed by Anderson and Gerbing
(1988): almost all AVEs are larger than 0.5, all CRs, the extent to which items are random
error-free, and therefore trigger consistent results, exceed 0.7 indicating the minimally
accepted construct reliability and validity (Hair et al., 2006).

Observation number Mahalanobis d2 p1 p2

48 66.794 0.000 0.000

81 55.012 0.000 0.000
88 52.230 0.000 0.000
30 50.440 0.000 0.000
Table II. 308 50.440 0.000 0.000
Observations farthest 13 47.433 0.000 0.000
from the 26 43.282 0.000 0.000
centroid (Mahalanobis 75 43.115 0.000 0.00
distance) 31 42.320 0.000 0.000

AVE CR

Perceived ease of use 0.688 0.898

Perceived usefulness 0.706 0.904
Digital literacy 0.619 0.866
Compatibility 0.731 0.916
Awareness 0.651 0.881
Perceived risk 0.618 0.858
Resistance to change 0.729 0.914
Attitude 0.811 0.945
Intention 0.857 0.960
Table III. Subjective norms 0.798 0.940
AVE and CR Personal innovativeness 0.753 0.924
In order to do an examination of the discriminant validity, a comparison of the squared roots Mobile
of the AVE with the factor correlation coefficients is done. Table IV indicates that for each banking
variable, the value of the square root of AVE is bigger than its correlation coefficient with adoption
other variables stipulating good discriminant validity (Podsakoff et al., 2003).
In order to estimate the structural model, we conducted SEM. SEM can be defined as a
regression-based multivariable system that is combined with path analysis. SEM data
analysis helps determine the validity of the research and analyze the linkage of different sets 361
of factors to explain the cause and effect relationship of these factors. In order to study the
potential relationship between the statistical variables in the SEM, path coefficients, the
standardized versions of linear regression weights, are utilized. To reach standardization,
the regular regression coefficient is multiplied by the standard deviations of the matching
explanatory variable. The results can then be compared to evaluate how much the variables
have relative effects in the regression model (Stage et al., 2004). The findings of the
regression path of the SEM are displayed in Table V.
We found that among the variables affecting perceived ease of use, resistance to change
( y ¼ −0.754, p o0.001) showed the biggest effect with a negative path. Digital literacy
( y ¼ 0.367, p o0.001) and awareness ( y ¼ 0.158, po 0.001) all had significant paths.

PI SN RTC PR Awar. Compat. DL PEOU PU Att. Int.

PI 0.867
SN 0.747 0.893
RTC 0.551 0.427 0.853
PR 0.582 0.517 0.411 0.786
Awar. 0.654 0.642 0.478 0.721 0.806
Compat. 0.551 0.559 0.517 0.458 0.668 0.854
DL 0.405 0.416 0.403 0.521 0.431 0.682 0.786
PEOU 0.685 0.724 0.412 0.733 0.695 0.737 0.609 0.829 Table IV.
PU 0.654 0.676 0.526 0.478 0.764 0.751 0.525 0.656 0.840 The square
Att. 0.694 0.554 0.734 0.525 0.671 0.563 0.451 0.409 0.724 0.900 root of AVE and
Int. 0.624 0.698 0.732 0.515 0.400 0.480 0.652 0.507 0.717 0.652 0.925 correlation coefficients

Hypothesis Estimate p-value Supported or not

H1 DigLiteracy→PEOU 0.367 *** Yes

H2 DigLiteracy→PU 0.290 *** Yes
H3 ResToChange→PEOU −0.754 *** Yes
H4 ResToChange→PU −0.272 *** Yes
H5 PercRisk→PEOU −0.344 *** yes
H6 PercRisk→PU −0.295 *** Yes
H7 Compatibility→PEOU 0.029 0.397 No
H8 Compatibility→PU 0.221 *** Yes
H9 Awreness→PEOU 0.158 *** Yes
H10 Awreness→PU 0.023 0.243 No
H11 PEO→Attitude 0.337 *** Yes
H12 PEO→PU 0.675 *** Yes
H13 PU→Attitude 0.481 0.005 Yes
H14 PU→Intention 0.435 *** Yes
H15 Attitude→Intention 0.859 *** Yes
H16 SubNorms→Attitude 0.645 *** Yes Table V.
H18 PersInnov→Attitude 0.322 *** Yes The outcome of
Note: ***p o0.001 path analysis
IJBM However, compatibility ( y ¼ 0.029, p ¼ 0.397) was found insignificant to influence to
38,2 perceived ease of use.
As per perceived usefulness, it was mostly influenced by perceived ease of use ( y ¼ 0.675,
p o0.001). Likewise, digital literacy ( y ¼ 0.290, p o0.001) and compatibility ( y ¼ 0.221,
p o0.001) both showed significant paths. Perceived risk ( y ¼ −0.295, p o0.001) and
resistance to change ( y ¼ −0.272, p o0.001) both had a significant influence on perceived
362 usefulness but their effects were negative. However, awareness ( y ¼ 0.023, p ¼ 0.243) was
found to have no significance on perceived usefulness. This leads us to confirm H2, H4, H6,
H8, H12, and to reject H10.
Perceived ease of use ( y ¼ 0.337, p o0.001) and perceived usefulness ( y ¼ 0.481, po0.05)
both showed significant positive paths toward attitude, and perceived usefulness ( y ¼ 0.435,
p o0.001) had a significant positive effect on the intention to use mobile banking. This leads
us to confirm H11, H13 and H14.
Furthermore, subjective norm ( y ¼ 0.645, po0.001) and personal innovativeness
( y ¼ 0.322, po0.001) appeared to have significant paths toward users’ attitudes. This leads
us to confirm H16 and H18.
Finally, attitude ( y ¼ 0.859, p o0.001) showed a significant positive path toward the
intention to use mobile banking. Therefore, all paths except H7 and H10 are supported.
Path coefficients significances are listed in Table V. This leads us to confirm H15.
To test H18 and H19, or the effect of the two moderators, subjective norms and personal
innovativeness, Cohen F2 formula is employed. Our calculations were made by Smart PLS.
First, we calculated attitudes R2 by testing the model including moderators, and then we
made two tests whereby each time we eliminated one moderator. Hence, the F2 formula is:
F 2 ¼ R2 includeR2 exclude=1R2 include:

Table VI displays the values of F2 showing both variables have a moderating influence
in the relationship between perceived usefulness to attitude and perceived ease of use to
attitude respectively. This leads us to confirm H17 and H19.

Discussion
Conclusions from these results are credible since there are no significant outliers obtained; in
addition to that, the variables are valid and reliable. This enabled us to test our hypotheses
adequately, and find which factor(s) is truly significant or not, thus which hypothesis is
accepted or not. The only two paths that were not supported were those linking compatibility
to perceived ease of use and awareness to perceived usefulness. Audi et al. found that
communicability or “awareness” as used in our study did not have an impact in his model,
whereas in our model it affected the ease of use but did not affect perceived usefulness.
So, people who have a higher degree of awareness of mobile banking, they will use the services
that mobile banking can provide. Thus, banks should pay more attention to customers’
awareness of mobile banking service. In addition, while marketing the services, banks should
emphasize their security options. Banks can provide a free demonstration to bank clients to
perform different bank transactions using mobile applications.
There are several reasons behind obtaining our results. Resistance to change negatively
affects perceived ease of use the most since the older the bank client is, the more resistant to

Hypothesis Moderator R2 ex R2 in F2 Strength

Table VI. H17 Sub. Norms 0.379 0.513 0.2751 Middle

F2 results H19 Pers. Innov. 0.379 0.481 0.1965 Middle
change he or she could be (Claudy et al., 2013). If people are used to doing something so Mobile
routinely like going to the bank, this factor will make the bank customer reject such a drastic banking
change to something he/she has been doing the same his/her whole life. People will resist adoption
using mobile banking if it is prone to potential risk. Trust in banks will compensate for
probable risk concerns that may arise when using mobile banking. When banks put client’s
interest in mind, they will perceive mobile banking to be less risky and they will intend to
use mobile banking services. On the contrary, consumers will resist using mobile banking if 363
they do not trust it. Trust may emanate from previous experience in interacting with the
bank or assurances such as guarantees against security breaches or invasion of privacy.
Furthermore, when it comes to the perceived ease of use variable and the first set of
hypotheses, digital literacy and awareness deal with education as mentioned previously, so
the more educated and aware people are, the easier they might find it to switch to mobile
banking hence they are positively linked to perceived ease of use. Here, our expectations
that digital literacy will have a significant influence on the intention to adopt mobile
banking were right. Previous scholars have studied the effect of digital literacy on
navigating the internet (Yu et al., 2018) but to our knowledge, this is the first paper tackling
the factor of digital literacy on mobile banking adoption. This implies that the level of
knowledge needed to operate a mobile device plays a major role in the use of mobile
banking. This is because the people who can use financial information over mobile devices
can easily utilize mobile phones and follow all the procedures involved in mobile banking
without difficulties.
Moving on to the second set of hypotheses and second variable studied, perceived
usefulness was positively affected by compatibility unlike perceived usefulness because
the more compatible a person is with mobile banking, the more useful the application
could be (Hanafizadeh et al., 2014). Nevertheless, awareness, in this case, had no
significant effect on perceived usefulness even though it did have a positive effect
on perceived ease of use. Again, we should mention that Audi et al. also found that
communicability or awareness to have no impact. As per our study, an explanation to this
result could be as simple as that a customer may be aware of the existence of mobile
banking but still refuse to accept its usefulness on his banking experience. The significant
but negative effect of resistance to change and perceived risk have on perceived
usefulness, similarly to what was also shown by previous scholars (Hanafizadeh et al.,
2014; Claudy et al., 2013), are justified since it is assumed that the higher the risk
associated with introducing mobile banking. This takes us back to the literature that
supported this hypothesis and justifies that mobile banking could be riskier than regular
banking the reason why some people do not use it, in order to avoid this kind of distant
connection (Hanafizadeh et al., 2014).
The remaining hypotheses and paths were all significant. Starting with the attitude
variable set of hypotheses, the literature is consistent with our results since perceived ease
of use had significance on consumers’ attitudes and on perceived usefulness as suggested
by Schierz et al. (2010). Existing literature shows that perceived usefulness and perceived
ease of use constructs need to be valid in order to comprehend the user’s objectives in regard
to the acceptance of the use of information systems in the banking sector. Moreover, the
more likely a consumer is to use the new system, the more intention he/she has toward it
(Davis, 1989), and that is affected by the consumer attitude since the latter helps predict
people’s perception toward things, and intention to use mobile banking or any new
technology proposed is one of them. That is also linked to Lin (2011) who explicitly
correlates the two factors.
As for subjective norms – or “social influence as used by other scholars like Malaquias
and Hwang (2016) – it was no surprise that Lebanese customers would be influenced
by people who are important to them especially when it comes to innovations and trends
IJBM like mobile banking. Baptista and Oliveira (2015) state that subjective norms describe
38,2 the extent to which an individual perceives that his friends and family or the circle he
belongs to believe that is it important to adopt a new system. This means those around us
who affect our decisions will improve our perception of ease of use. Hence, Lebanese
banking customers were found to be highly affected by other people’s attitudes. Literature
has also supported the last two hypotheses, where personal innovativeness is found to be
364 significant as well; that is justifiable because the more the consumers are passionate
about innovation, the more positive their attitudes would be toward mobile banking
(Chitungo and Munongo, 2013). This finding is expected because it makes sense that
individuals who like to experiment with new technologies are more likely to use online and
mobile banking services.

Conclusion
This study provides an integrative model to supply knowledge concerning factors that
affect the adoption of mobile banking among Lebanese customers. Banks also could look
into our results to attract more clients. This technology can help increase the rate of bank
penetration in Lebanon, which is still low at 46.9 percent. Our study reveals that besides the
factors discussed above, the main topics in need of extra efforts to enhance Lebanese mobile
banking adoption are more communication with older people and women to reduce the
unease and stress when using new technology. In addition, more communication is needed
with current mobile banking users urging them to inform their friends and family about the
benefits and security of mobile banking. Banks need to provide more incentives and
encourage low-income people and less educated people to acknowledge that mobile banking
apps are becoming more user-friendly and that bank employees are available in the
branches to offer help with problems associated to usage. In this context, the marketing
campaigns should stimulate the users’ curiosity to discover mobile banking and to approach
the audience cleverly, by telling them how up to date they will become when adopting
mobile banking or they would lag behind their peers.
The paper outcomes suggest that our structural model is well integrated and empirically
significant. This study is different from how many previous scholars have based their
research. Actually, no previous research studied the importance of digital literacy to
approach mobile banking adoption (Shaikh and Karjaluoto, 2015). Our research proves that
a customer who knows how to use digital platforms will be more likely to adopt mobile
banking applications. In addition, our study did not focus only on environmental aspects
like (Afshan and Sharif, 2016) but employs social and individual variables such as social
influence and personal innovativeness. Furthermore, another gap addressed by our study is
that of Malaquias and Hwang, whose respondents were all university students, so we made
sure that our participants were bank clients from different backgrounds. Finally, in our
questionnaire we introduced for the first time the “number of branch visits” question. Our
aim was to explore whether any link exists between the number of visits to the branch and
thus a customer’s transactions frequency and his intention to adopt mobile banking.
Contrary to what we expected, we found that people visiting their branches more frequently
were the ones who used and intended to use mobile banking the most. The fact that more
branches are available and access to them is easy does not make the customer refrain to use
mobile banking. The latter, by contrast, becomes the one in need of such a platform due to
high transactions frequency and therefore having an application on their phone will help
them significantly.
Just like any study, this research includes several limitations: the first is the fact that the
sample population of the study included only Lebanese clients. A future area of research
could include a more representative sample of respondents, a sample that includes more
diversified respondents. Furthermore, to offer new insights to the mobile banking adoption Mobile
phenomenon, more variables that were not given enough room in the previous literature, banking
such as financial limitations and user’s lifestyle, could be studied. adoption

References
Afshan, S. and Sharif, A. (2016), “Acceptance of mobile banking framework in Pakistan”, Telematics 365
and Informatics, Vol. 33 No. 2, pp. 370-387.
Ajzen, I. (1991), “The theory of planned behavior”, Organizational Behavior and Human Decision
Processes, Vol. 50 No. 2, pp. 179-211.
Akturan, U. and Tezcan, N. (2012), “Mobile banking adoption of the youth market: perceptions and
intentions”, Marketing Intelligence & Planning, Vol. 30 No. 4, pp. 444-459.
Alalwan, A.A., Dwivedi, Y.K., Rana, N.P. and Williams, M.D. (2016), “Consumer adoption of
mobile banking in Jordan: examining the role of usefulness, ease of use, perceived risk and
self-efficacy”, Journal of Enterprise Information Management, Vol. 29 No. 1, pp. 118-139.
Al-Somalli, S., Gholami, R. and Clegg, B. (2009), “An investigation into the acceptance of online banking
in Saudi Arabia”, Journal of Technovation, Vol. 29 No. 2, pp. 130-141.
Anderson, J.C. and Gerbing, D.W. (1988), “Structural equation modeling in practice: a review and
recommended two-step approach”, Psychological Bulletin, Vol. 103 No. 3, pp. 411-423.
Audi, M.F. (2015), “Adoption of mobile banking applications in Lebanon”, The Journal of Internet
Banking and Commerce, Vol. 21 No. 1 pp. 11-21.
Baptista, G. and Oliveira, T. (2015), “Understanding mobile banking: the unified theory of acceptance
and use of technology combined with cultural moderators”, Computers in Human Behavior,
Vol. 50 No. 1, pp. 418-430.
Brislin, R.W. (1976), “Comparative research methodology: cross-cultural studies”, International Journal
of Psychology, Vol. 11 No. 3, pp. 215-229.
Bryman, A. and Bell, E. (2015), Business Research Methods, Oxford University Press, Oxford.
Burucuoglu, M. and Erdogan, E. (2016), “An empirical examination of the relation between
consumption values, mobil trust and mobile banking adoption”, International Business Research,
Vol. 9 No. 12, pp. 131-142.
Cheng, T.C., Lam, D. and Yeung, A. (2006), “Adoption of internet banking: an empirical study in Hong
Kong”, Decision Support Systems, Vol. 42 No. 3, pp. 1558-1572.
Chitungo, S.K. and Munongo, S. (2013), “Extending the technology acceptance model to mobile banking
adoption in rural Zimbabwe”, Journal of Business Administration and Education, Vol. 3 No. 1,
pp. 51-79.
Claudy, M.C., Peterson, M. and O’Driscoll, A. (2013), “Understanding the attitude-behavior gap for
renewable energy systems using behavioral reasoning theory”, Journal of Macromarketing,
Vol. 33 No. 4, pp. 273-287.
Davis, F.D. (1989), “Perceived usefulness, perceived ease of use, and user acceptance of information
technology”, MIS Quarterly, Vol. 13 No. 3, pp. 319-339.
Davis, F.D., Bagozzi, R.P. and Warshaw, P.R. (1992), “Extrinsic and intrinsic motivation to use
computers in the workplace”, Journal of Applied Social Psychology, Vol. 22 No. 14, pp. 1111-1132.
Farah, M.F., Hasni, M.J.S. and Abbas, A.K. (2018), “Mobile-banking adoption: empirical evidence from
the banking sector in Pakistan”, International Journal of Bank Marketing, Vol. 36 No. 7,
pp. 1386-1413.
Fishbein, M. and Ajzen, I. (1975), “Attitude-behaviour relations: a theoretical analysis and review of
empirical research”, Psychological Bulletin, Vol. 84 No. 5, pp. 888-918.
Forsythe, S.M. and Shi, B. (2003), “Consumer patronage and risk perceptions in internet shopping”,
Journal of Business Research, Vol. 56 No. 11, pp. 867-875.
IJBM Hair, J.F. Jr, Black, W., Babin, B., Anderson, R.E. and Tatham, R. (2006), Multivariate Data Analysis,
38,2 6th ed., Prentice Hall, Upper Saddle River, NJ.
Hanafizadeh, P., Byron, W.K. and Khedmatgozar, H.R. (2014), “A systematic review of internet banking
adoption”, Telematics and Informatics, Vol. 31 No. 3, pp. 492-510.
Hernandez, J.M. and Mazzon, J.A. (2006), “Adoption of internet banking: proposition and
implementation of an integrated methodology approach”, International Journal of Bank
Marketing, Vol. 25 No. 2, pp. 72-88.
366
Hoehle, H., Scornavacca, E. and Huff, S. (2012), “Three decades of research on consumer adoption and
utilization of electronic banking channels: a literature analysis”, Decision Support Systems,
Vol. 54 No. 1, pp. 122-132, available at: https://doi.org/10.1016/j.tele.2015.09.005
Kim, C. and Mirusmonov, M. (2010), “An empirical examination of factors influencing the intention to
use mobile payment”, Computers in Human Behavior, Vol. 26 No. 3, pp. 310-322.
Kim, G., Shin, B. and Lee, H.G. (2009), “Understanding dynamics between initial trust and usage
intentions of mobile banking”, Information Systems Journal, Vol. 19 No. 3, pp. 283-311.
Kline, R.B. (2005), Principles and Practice of Structural Equation Modelling, The Guilford Press,
New York, NY.
Laforet, S. and Li, X. (2005), “Consumers’ attitudes towards online and mobile banking in China”,
International Journal of Bank Marketing, Vol. 23 No. 5, pp. 362-380.
Lee, I., Choi, B., Kim, J. and Hong, S.J. (2007), “Culture-technology fit: effects of cultural characteristics
on the post-adoption beliefs of mobile internet users”, International Journal of Electronic
Commerce, Vol. 11 No. 4, pp. 11-51.
Liao, C., Lin, H.N. and Liu, Y.P. (2010), “Predicting the use of pirated software: a contingency model
integrating perceived risk with the theory of planned behavior”, Journal of Business Ethics,
Vol. 91 No. 2, pp. 237-252.
Lin, H.F. (2011), “An empirical investigation of mobile banking adoption: the effect of innovation
attributes and knowledge-based trust”, International Journal of Information Management,
Vol. 31 No. 3, pp. 252-260.
Makongoro, G. (2014), “Factors influencing customer adoption of mobile banking services in
Tanzania”, doctoral dissertation, The Open University of Tanzania.
Malaquias, R.F. and Hwang, Y. (2016), “An empirical study on trust in mobile banking: a developing
country perspective”, Computers in Human Behavior, Vol. 54 No. 1, pp. 453-461.
Medhi, I., Gautama, S.N. and Toyama, K. (2009), “A comparison of mobile money-transfer UIs for
non-literate and semi-literate users”, Proceedings of the SIGCHI Conference on Human Factors in
Computing Systems, ACM, pp. 1741-1750.
Nunally, J. (1978), Psychometric, McGraw Hill, New York, NY.
Podsakoff, P.M., MacKenzie, S.B., Lee, J.Y. and Podsakoff, N.P. (2003), “Common method biases in
behavioral research: a critical review of the literature and recommended remedies”, Journal of
Applied Psychology, Vol. 88 No. 5, pp. 879-903.
Quinlan, C. (2011), Business Research Methods, South-Western Cengage Learning, Andover.
Schierz, P.G., Schilke, O. and Wirtz, B.W. (2010), “Understanding consumer acceptance of mobile
payment services: an empirical analysis”, Electronic Commerce Research and Applications, Vol. 9
No. 3, pp. 209-216.
Servon, L.J. and Kaestner, R. (2008), “Consumer financial literacy and the impact of online banking on
the financial behavior of lower‐income bank customers”, Journal of Consumer Affairs, Vol. 42
No. 2, pp. 271-305.
Shaikh, A.A. and Karjaluoto, H. (2015), “Mobile banking adoption: a literature review”, Telematics and
Informatics, Vol. 32 No. 1, pp. 129-142.
Sharafi, M.A., Arshah, R.A., Herzallah, F.A. and Alajmi, Q. (2017), “The effect of perceived ease of use
and usefulness on customers intention to use online banking services: the mediating role of
perceived trust”, International Journal of Innovative Computing, Vol. 7 No. 1, pp. 9-14.
Stage, F., Carter, H.C. and Nora, A. (2004), “Path analysis: an introduction and analysis of a decade of Mobile
research”, Journal of Educational Research, Vol. 98 No. 1, pp. 5-13. banking
Van Deursen, A.J. and van Dijk, J.A. (2014), “Modeling traditional literacy, internet skills and internet adoption
usage: an empirical study”, Interacting with Computers, Vol. 28 No. 1, pp. 13-26.
Verrecchia, M. (2016), “Mobile banking adoption: an exploration of the behavioral intention of
consumers in Ireland”, master’s thesis, National College of Ireland, Dublin.
Wu, J.H. and Wang, S.C. (2005), “What drives mobile commerce? An empirical evaluation of the revised 367
technology acceptance model”, Information & Management, Vol. 42 No. 5, pp. 719-729.
Yang, A.S. (2009), “Exploring adoption difficulties in mobile banking services”, Canadian Journal of
Administrative Sciences, Vol. 26 No. 2, pp. 136-149.
Yu, L., Recker, M., Chen, S., Zhao, N. and Yang, Q. (2018), “The moderating effect of geographic area on
the relationship between age, gender, and information and communication technology literacy
and problematic internet use”, Cyberpsychology, Behavior and Social Networking, Vol. 21 No. 6,
pp. 367-373.
Zhang, L., Zhu, J. and Liu, Q. (2012), “A meta-analysis of mobile commerce adoption and the moderating
effect of culture”, Computers in Human Behavior, Vol. 28 No. 5, pp. 1902-1911.
Zhou, T. (2011), “An empirical examination of initial trust in mobile banking”, Internet Research, Vol. 21
No. 5, pp. 527-540.
Zhou, T. (2012), “Understanding users’ initial trust in mobile banking: an elaboration likelihood
perspective”, Computers in Human Behavior, Vol. 28 No. 4, pp. 1518-1525.

Further reading
ABA Banking Journal Website (2017), “ABA survey: two-thirds of Americans use digital banking
channels most often”, available at: https://bankingjournal.aba.com/2017/09/aba-survey-two-
thirds-of-americans-use-digital-banking-channels-most-often/ (accessed July 8, 2019).
Audi, M., Wahbi, M., Abdallah, S., Kassem, L., Jaber, N. and Makkawi, I.R. (2015), “Adoption of mobile
banking applications in Lebanon”, The Journal of Internet Banking and Commerce, Vol. 21 No. 1,
available at: www.icommercecentral.com/open-access/adoption-of-mobile-banking-applications-
in-lebanon.php?aid=67473
Callaghan, O., Kaufmann, R. and Konsynski, P. (1992), “Adoption correlates and share effects of electronic
data interchange systems in marketing channels”, Journal of Marketing, Vol. 56 No. 2, p. 4556.
Neuman, W.L. (2013), Social Research Methods: Qualitative and Quantitative Approaches,
Pearson Education.
Nice, K. and Irvine, A. (2010), “Living on a low income and using banks to pay bills”, The Journal of
Poverty and Social Justice, Vol. 18 No. 1, pp. 53-67.
Rodgers, E.M. (1995), Diffusion of Innovations, 5th ed., The Free Press, New York, NY.
Saadeh, L. (2016), “Financial inclusion: the case of Lebanon”, available at: http://blog.blominvestbank.
com/wp-content/uploads/2015/11/Financial-Inclusion-The-Case-of-Lebanon1.pdf (accessed
July 8, 2019).
Sheth, J.N., Newman, B.I. and Gross, B.L. (1991), “Why we buy what we buy: a theory of consumption
values”, Journal of Business Research, Vol. 22 No. 2, pp. 159-170.

Corresponding author
Samer Elhajjar can be contacted at: [email protected]

For instructions on how to order reprints of this article, please visit our website:
www.emeraldgrouppublishing.com/licensing/reprints.htm
Or contact us for further details: [email protected]