Literature study

Barnes and Corbett (2003)48; Scornavacca and Barnes (2004)49 suggests that recent
telecommunications innovations have enabled the launch of new access methods for
banking services, one of which is mobile banking, in which a customer interacts with a
bank using a mobile device such as a mobile phone or personal digital assistant. Clark
(2008)50 suggests that the mobile phone, as a channel, can increase the number of channels
available to consumers, providing them with more low-cost self-service options for
accessing funds, banking information, and making payments. Mobile channel provides
consumers with ease, nearness, and alternative. Mobile banking has been dubbed "the
delivery channel of the future." This is due to the fact that it provides the user with the
benefits of portability and convenience. It is just like having a bank in the pocket
Chakrabarty K.C., (2010)51. Branchless banking channels utilizing cell phones may be
significantly more appealing to impoverished people than existing options such as traveling
to and queuing at distant branches, foregoing their daily remuneration, resulting in
cheaper delivery costs to banks. Developing countries are focusing their efforts on
providing MB access to unbanked mobile users as a tool for financial inclusion, dubbed
"Transformational MB." MartinaRaniK., (2010)54. Understand the diffusion of M-banking
among young people, to measure the satisfaction, Tardivo (2016). Problems related to
mobile banking services such as poor network coverage, lack of knowledge of m-banking
users, high mobile money transaction fees, irregular standards of mobile money payments,
ATM breakdown and theft, lack of trust of mobile money agents, and poor security of
mobile networks Rumanyika (2015). A Comparative Study of M-Banking Transactions of
Public and Private Sector Banks was focused on the volume of M-banking transactions and
value M-banking payments Veena.K.P&Shilpa.D (2016). Frequency of availing banking
transactions through mobile Bagoria (2014). Demographic (Gender, Age, Income,) Study
of Mobile banking users of public and private sector bank customers in Indore Dr. Geeta
Sharma & Surendra Malviya (2012). Correlation in between volume of M-banking
transactions of selected public and private sector banks SagarDua(2017). M-banking is
available 365 days in a year or 24*7 for customers to initiate the banking transactions via
smartphones or other electronic devices to operate one to one personal accounts, bill
payments, mobile recharge, shopping and investments Vijayashri Gurme., Pradnya
Meshram(2017) Buvaneswari et al.(2014), & Jones(2015). New mobile technology
likely one touch mechanism, OTP, QR code, and bar code facilitate customers to access
boundary less banking transactions Praiseye, T., & Florence John. (2018). Mobile wallet
or M-wallet allows users to avail banking services from any ware any time and linked one
to one bank, one to many banks and bank wallet to any non-banking financial institutions
Vaishnavi, S., Shreyas, Sumesh.Menon., Vishnu Priya, B., Dhanalakshmi, C.(2019) &
BridSagar, AgrahariKajal, Chandra Mrs.Priya. (2017). The recent COVID-19 crisis has
states that the usage of m-banking has increased tremendously compared to pre COVID,
mobile technology played a dual role of safeguard the life of the people to maintain the
social distancing and contact less banking and other side it has increased the customer
awareness, usage and reliability of digital banking transactions V & Manu, (2020).
Literature study

Mobile banking in Pub vs Pri banks

Tardivo (2016), this study was conducted on Young Customers’ Perception of the Quality of
M-banking Services. These articles focus their attention on perceived services and they
aren’t directed towards their main users. The main aim of this study is to understand the
diffusion of Mbanking among young people, to measure their satisfaction. Finally, the paper
provides new directions to researchers of M-banking service quality and young people’s
towards M-banking services that prevalently comes from reliability and the possibility of
saving time offered by these services.

Rumanyika (2015), this study was focused on obstacles towards adoption of mobile
banking in Tanzania: A review. This paper focused on problems related to mobile banking
services such aspoor network coverage, lack of knowledge of m-banking users, high mobile
money transaction fees, irregular standards of mobile money payments, ATM breakdown
and theft, lack of trust of mobile money agents, and poor security of mobile networks. The
findings reveal that poor network coverage, lack of knowledge of m-banking users, lack of
enough float of mobile money agents and ATM breakdown and theft are major obstacles on
the way to the adoption of m-banking in Tanzania.

Nayak (2014), this study was conducted on a study of adoption behavior of mobile banking
services by Indian consumers. The purpose of this review paper is to explore the factors
that influence the adoption behavior of mobile banking services by Indian consumers. And
also understand the factors which contribute to user’s intention to use the mobile banking
services. This paper also discusses the various steps that mobile banking providers should
take to increase their mobile banking services user’s in India.

Dr. Veena.K.P&Shilpa.D (2016) titled with a Comparative Study of Mobile Banking

Transactions of Select Public and Private Sector Banks in India was focused on the volume
of mobile banking transactions and value of mobile banking payments of selected public
and private sector banks. It is highlighted that the performance of private sector banks
mobile banking services are high or more compared to the public sector banks, therefore
public sector banks are need to leveragemore in relation to up-gradation of their mobile
banking technology to offer better services to the customers to reach desired objectives
strategically.(Edited from article – no need to change)

Bagoria (2014) made a comparative study of mobile banking in public and private banks
with reference to four cities stated that frequency of availing banking transactions through
mobile is more in nationalized banks such as State Bank of India and State Bank of Bikaner
and Jaipur while in case of private banks ICICI is giving a cutthroat competition to the
nationalized banks. It is worth mentioned that ICICI is the next biggest player but presently
the mobile transactions (on an average) are executed in public banks higher than the later.

Dr. Geeta Sharma &SurendraMalviya (2012) a Demographic Study of Mobile banking users
of Public and Private sector Banks in Indore, the survey of 478 mobile banking users of
various public and private sector banks of Indore reveled that both banks need to made
strategies to encourage the female, middle and senior citizen users for prefer mobile
banking,and also the study highlighted that public sector banks need to target more
customers of higher income group for utilization of mobile banking. Both public and private
sector needs to encourage business and other occupation users for using mobile banking as
it help them in their occupation. Hence both the sector banks need to focus on customer
friendly mobile applications and services via mobile banking for customer satisfaction and
they keep on using mobile banking for long time and frequently. (Edited from article - no
need to change)

Sharma (2013) revealed that there is a significant variance in perception of customers in

which they are not satisfied with the public banks in terms of quality of servicesoffered and
with private banks in terms of cost of the services offered. So the former need to pull up
their socks in order to improve their technology and offer variety of M-banking products
the high quality service as per the customer fit and the latter needs to lower their cost,
additionally they need to instruct and update their customers while offering new product
or service.

SagarDua (2017)a comparative study on M-banking services in selected public and

private sector banks has concluded that SBI is the leading player of the town. Only two
banks in public sector SBI and Canara Bank have made a predominate place in the m-
applications corner of the M-Banking users. From the selected group of private sector
banks, ICICI Bank is the dominant player in M-Banking. Comparing the selected group of
public sector banks with the private sector banks, all private banks have shown a
correlation in volume of transactions than in the bracket of public sector banks where the
SBI and Canara Banks are leading the rally and other players are not matching their
existing state of market share.(Edited from article - no need to change)

VijayashriGurme.,&PradnyaMeshram. (2017) observed that mobile banking initiate the

utilize smartphones or other electronic devices to operate net banking transactions on
note, computer, laptop or any other device, to transfer money from one personal account to
another person account, electricity & gas bill payments, recharge mobile, net banking
shopping, etc. Mobile banking is available 24*7 for customers for financial transactions in
the current era of technology to help the banking industry rise at an advanced speed. The
majority use is the growth of the economy in India.

Praiseye, T., & Florence John. (2018) said that mobile phones are used everywhere in
this current era. The new technological progress has been made all likely less than one
touch. By using the apps installed in the smartphone, if users can pay any bills or transact
their money to anyone at their convenience for a one-time password or bar code. The
variables are factors that affect consumers’ preferences towards the mobile wallet.

Vaishnavi, S., Shreyas, Sumesh.Menon., Vishnu Priya, B., &Dhanalakshmi, C. (2019).

Said that banking systems are measured as the bank bone ofany implementations or
developing our economy. Banks are the financial institution which recognizes deposits
from people with additional funds and through them to the personalities who need money.
Traditional banking refers to available banks to deposit funds, withdraw funds, or relate for
loans. Mobile wallet, also known as m-wallet, allows the user to make transactions from
any place are any ware. These mobile wallets will be linked to several banks anywhere the
customer holds an account.

Mobile banking applications

BridSagar, AgrahariKajal, Chandra Mrs.Priya. (2017) the research mainly focuses on

the study of various mobile banking applications which is used by different sectors of
society as it described well the usage of mobile banking applications. The results display
maximum users of Paytm in comparison to Freecharge. Hence it can be observed that
digital wallets and mobile banking are the future.

Sharma Nisha and KaurRupinder deep. (2016) as per this paper have extensive analysis
of the M-services in India under which the awareness towards technology will show
positive results for the new innovations in mobile banking and their application towards
users in India. As mobile banking websites are more preferable rather than traditional
banking method by the customers in today’s environment.

Bamoriya, D., & Singh, P. (2013) in this paper titled “mobile banking in India: barriers in
adoption and preferences” mentioned that, mobile banking is considered a new era of
banking sector but still due to some security reasons these services have not been used by
customers, hence they are avoiding mobile banking.

Factors effecting the adoption of M-banking

Mobile banking means that users adopt mobile terminals to conduct transactions such as
balance enquiry, transference and bill payment anytime from anywhere (Mallat, 2007;
Shih, 2010; Shih et al., 2010). The amount of information consumers have about mobile
banking is also identified as an important factor influencing the adoption (Alter, 2002).
Among the various factors determining adoption are levels of perceived risk (Chung and
Kwon, 2009; Donner and Tellez, 2008), security, interaction (Yu and Fang, 2009),
perceived uncertainty (Laukkanen, 2007), perceived usefulness, ease of use, credibility,
self-efficacy, perceived system quality (Kleijnen et al., 2004; Luarn and Lin, 2005),
experience (Chung and Kwon, 2009), financial cost (Yang, 2005) and time saving (Yang,
2005; Laukkanen, 2007).

(V & Manu, 2020) We briefly review the body of related work that is available on the
“Impact of COVID-19 on Mobile Banking services”, this study finds that in India there is
huge demand for Google-Pay and due to this pandemic, it has shown a significant rise in its
usability and reliability. COVID has disrupted the lives, social reach and also have affected
the economy in the short term. People in India are facing many problems due to immediate
shutdown, necessities were needed to meet and transactions were done through mobile
apps with modernized services. Their study says thistechnology tool also helped to
maintain social distance in order to safeguard their life. Their primary analysis clearly
states that usage has increase due to COVID-19.

(Sundar, 2020) Their research was in specific geographic location of India i.e., Telangana
during demonetisation. Retail sector has been into many changes post demonetisation with
the help of mobile banking and digital payment modes. It has all retailer to cut down the
operating cost. According to his empirical study e-Billing, e-Transfer, and e-Banking
services has guaranteed customer services delivery without delay. This has improved the
credibility, safety and security among the customers and incline them to use mobile
banking services like Paytm&GooglePay. Due to problems of less withdrawal from ATM,
liquidity crunch the usage of cards, rupay, smart cards and electronic fund transfer has
declined whereas on the other hand the mobile banking sector has shown 3% increase
after demonetisation policy. SpeciallyPaytm got a 70% usage increment
afterdemonetisation.

(Naskar, 2019) This paper gave us an overview of digital economy of India. India is a
developing country where people are more eager to adopt new things easily. Digital India
was good step for the economic welfare and prosperity of nation by removing, money
laundering, black money and fake currency. In India the biggest challenge for these m-
banking companies is that to maintain high security, privacy of customer data, cyber frauds
and built the internet infrastructure in India with the help of new IOT devices.

(Gujrati, 2017) in her study she has focused on Digital India programme being the root
cause of Paperless Economy. She also stated that government took steps to increase the
transparency of transactions happening on daily basis. To promote this objective
government took steps like demonetization and started promoting online payment system
which also helped small retailer to get into the system. India took time at initial stages as
small retailer didn’t had enough funds to establish resources to establish the digital
payment systems but now it has grown to a very large extent.

Barnes and Corbett ; Scornavacca and Barnes (2004) suggest that recent innovations in
telecommunications have enabled the launch of new access methods for banking services,
one of these is mobile banking; whereby a customer interacts with a bank via a mobile
device such as a mobile phone or personal digital assistant. Karjaluoto et al; Rugimbana
(1995) found that there is vast market potential for mobile banking due to its always-on
functionality and the option to do banking virtually any time and anywhere. Unnithan and
Swatman studied the drivers for change in the evolution of the banking sector, and the
move towards electronic banking including mobile banking by focusing on two economies,
Australia & India and suggested strong growth potential of new banking channel in India.
Clark (2008) suggests that as a Channel the mobile phone can augment the number of
channels available to consumers, thereby giving consumers more low-cost selfservice
options by which to access funds, banking information and make payments. Mobile as a
channel delivers convenience, immediacy and choice to consumers. According to
Vyas(2009) Banks will target non-online banking users who may lack regular access to
desktop Internet but are very likely to own a mobile device.

Buvaneswari et al. (2014) [2] Today, mobile banking services enable consumers [e.g. to
check the balance and transactions of their accounts, pay invoices and transfer funds
between accounts, monitor the use of credit cards, check when invoices fall due, make buy
and sell orders for the stock exchange and receive portfolio and price information]. It’s
always-on functionality and the option to bank virtually any time and anywhere
characterize mobile banking services. However, mobile banking has not yet completely
convinced bank customers of its usefulness and added value that it offers and its use is yet
in an initial stage.

Barnes and Corbett (2003)48; Scornavacca and Barnes (2004)49 suggests that recent
telecommunications innovations have enabled the launch of new access methods for
banking services, one of which is mobile banking, in which a customer interacts with a
bank using a mobile device such as a mobile phone or personal digital assistant. Clark
(2008)50 suggests that the mobile phone, as a channel, can increase the number of channels
available to consumers, providing them with more low-cost self-service options for
accessing funds, banking information, and making payments. Mobile channel provides
consumers with ease, nearness, and alternative. Mobile banking has been dubbed "the
delivery channel of the future." This is due to the fact that it provides the user with the
benefits of portability and convenience. It is just like having a bank in the pocket
Chakrabarty K.C., (2010)51.
The study of Jones (2015) reveled that, Mobile-banking offers various useful facilities like
fund transfer and bill payments, etc. Mobile banking also affects the customer’s behavior.
Various applications of mobile phones allow customers to do banking transactions by
sitting at home. Customers can also do a money transfer or balance enquiry with a single
click. This kind of banking facility is urging customers to utilize mobile banking services.
Customers can perform their transactions on Mobile phones to save time and cost.

Need and Scope of Mobile Banking

Presently the need is for concern and responsibility for the utilization of m-banking
technology is to eradicate the rural-urban separation and to co-ordinate the rural with the
world wide economy Amrit Patel, et al., (2010)53.

The Influence of Mobile Banking

Branchless banking channels utilizing cell phones may be significantly more appealing to
impoverished people than existing options such as traveling to and queuing at distant
branches, foregoing their daily remuneration, resulting in cheaper delivery costs to banks.
Developing countries are focusing their efforts on providing MB access to unbanked mobile
users as a tool for financial inclusion, dubbed "Transformational MB." MartinaRaniK.,
(2010)54.