Mobile Banking Adoption in Thailand: The Moderating Role of Hedonic and Utilitarian Consumer Types

Mobile banking in Thailand faces challenges in attracting customers that demonstrate different behaviors based on consumer values. This study aimed to understand the adoption of mobile banking in Thailand with the moderating effect of hedonic and utilitarian consumers on the relationship between the determinants and the intention to adopt mobile banking A survey questionnaire collected data from 1088 Thai mobile banking users and was analyzed with structural equation modeling. The results indicate that perceived usefulness (beta = .58, p= .01), perceived ease of use (beta = .33, p = .01), mobile banking service quality (beta = .54, p =. 01), and reference groups (beta = .11, p = .0) significantly affected mobile banking adoption. Moreover, the impact of perceived usefulness was significantly greater among utilitarians (beta = .16, p= .00) than hedonists (beta = .08, p= .01). Perceived ease of use was also significantly higher among utilitarians (beta =.14, p =.01) than among hedonists (beta =.01, p =.00). However, the influence of mobile service quality on mobile banking adoption was significantly stronger among hedonists (beta = .70, p = .01) than utilitarians (beta = .45, p = .01). Reference groups were significant for hedonists (beta = .20, p =.01), but not for utilitarians (beta = .6, p = .08). This study contributes to behavioral science by first investigating the moderating effects of hedonic and utilitarian consumers on mobile banking adoption. The findings have practical implications for marketers to develop appropriate marketing strategies to fit two distinct types of consumer needs. Future research should be replicated in other countries to increase generalization.