Prospects and challenges ofmobile banking in India

Abstract

Objective: The present study is aimed to assess the prospects and challenges of mobile banking in India.

Method:Descriptive method has been adopted for the research. Through the structured questionnaire using Likert scale, the data has been collected through online survey where research found 120 respondents as a sample size and regression analysis has been used in order to prove the significance of outcomes.

Findings:

From the consumer's point of view, mobile security/protection, customer support, accessibility deficiency, compatibility deficiency and service standardization are critical problems. Most clients were indifferent to the use of mobile banking compared to retail and online banking.

Practical Implication: Special advantages for mobile banking will increase the awareness of existing customers and increase uses. When the customer relies on the technology, the use of mobile banking in mass automatically increases.

Conclusion:Paper aims to explore customers' chosen mobile banking problems and to recommend mobile banking to various parties, banks, mobile operators, content providers, regulators on matters that may be challenging them to provide effective mobile banking services throughout the country.