Internet Banking: Enablers and Inhibitors for Developing Economies - A Study of Potential Users in Jamaica

With advances in information technology, internet banking in developing countries is increasing in popularity, giving individuals more choices in how they do their banking. However, the uptake by individuals especially for developing countries has been slow, despite increased access to enabling technologies. While much has been done to determine what encourages adoption, little is known of what hinders internet banking in developing countries. As technology advances an understanding of these hindrances will be critical for these innovations to be successful. Drawing on Diffusion of Innovation Theory and prior research a combined model of perceived risk, perceived security, switching costs, and other technology attributes, and social influence, is examined to determine what may deter individuals from doing their banking online. Data from 92 potential users of internet banking is used to explore the research model. The findings are reported and implications for practice and future research discussed.