Unified Theory of Acceptance and Use of Technology (UTAUT) Model: Factors Influencing Mobile Banking Services’ Adoption in China

Abstract

This study uses a modified UTAUT model to examine behavioral factors influencing mobile banking services’ (MBS) adoption in China. Despite the abundance of smart mobile phones, the uptake of mobile banking among the population remains low. To address this issue, this study integrates four variables—perceived financial cost, awareness, technology infrastructure support, and government regulations—into the UTAUT framework to explore their impact on driving the adoption of MBS. Based on convenient sampling techniques, it uses 567 valid responses collected through a self-administered questionnaire and applies multiple regression analysis methods for data analysis using SPSS-26 software. Results indicate that performance expectancy, effort expectancy, perceived financial cost, and awareness are significant drivers of behavioral intention to use MBS in China. Technological infrastructure support positively influences performance expectancy, and individuals’ intent to use and adopt MBS in China. Government support significantly drives the individual’s behavioral intention to use and adopt MBS. Furthermore, behavioral intention to use MBS significantly predicts its adoption in China. The practical and academic ramifications of MBS on the growth and development of sustainable mobile banking systems are presented.