Introduction
Information and communication technologies, such as the Internet and wireless technologies, have revolutionised the world. Specifically, the mobile sector in both developed and developing countries is growing enormously. According to a report by the Telecom Regulatory Authority of India (TRAI, 2016), there are 936 million wireless subscribers in India. Moreover, the number of mobile Internet users in India is expected to grow to more than 300 million by the end of 2017 (KPMG, Google, 2016). To meet customers’ expectations, banks now offer a wide range of services delivered through mobile technologies. Mobile banking, which was introduced in India in the late 1990s and early 2000s, is defined as “a channel whereby the customer interacts with a bank via a mobile device, such as a mobile phone or personal digital assistant” (Barnes & Corbitt, 2003). It has considerable potential in developing countries, where customers primarily connect to the Internet through mobile phones. The major advantage of mobile banking is that financial transactions can be conducted anytime and anywhere (Kleijnen et al., 2004; Herzberg, 2003; Rivari, 2006; Laukkanen, 2007). Customers can check account balances, transfer funds between accounts, and make electronic bill payments without traveling to a traditional bank. Mobile banking thus reduces the physical distance between the bank and the customer, helping customers achieve financial inclusion.
