Behavioral Determinants and Mobile Banking Usage Among Graduates in Tanzania: Moderating Influence of Digital Financial Literacy
DOI:
https://doi.org/10.59645/abr.v17i2.663Keywords:
Subjective Norms, Mobile banking, Digital Financial Literacy, Perceived Behavioral ControlAbstract
The current study examines the influence of digital financial literacy and key behavioral determinants on mobile banking usage among graduates in Tanzania. A total of 384 respondents were selected using a purposive and simple random sampling technique, each holding at least a diploma-level qualification, and participated in the survey using a structured online questionnaire administered via Google Forms. The Theory of Planned Behavior (TPB) was employed. We used IBM SPSS Statistics version 26 to analyze the data and SmartPLS version 4.1.1 to test our hypotheses with Partial Least Squares Structural Equation Modelling (PLS-SEM). The empirical findings indicate that both subjective norms and perceived behavioral control exert a positive and statistically significant effect on mobile banking usage. Attitude, while positively related, demonstrated only a marginal influence. Digital financial literacy was found to be statistically insignificant in directly explaining usage behavior, as well as in moderating the influence of behavioral determinants on usage, thus diverging from prevailing literature. These findings point out the importance of social influence and users' perceived autonomy in technology adoption within educated populations. The study highlights that financial service providers and policymakers should focus on specific strategies that boost users' confidence and use social influences, as these may work better than regular financial education programs in encouraging graduates to use mobile banking
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