TOWARDS UNDERSTANDING THE ROLE OF PERCEIVED SECURITY AND PRIVACY IN INFLUENCING INTERNET BANKING ADOPTION IN INDIA
Keywords:
Internet Banking, Security and Privacy Issues, Users’ Perceptions, Internet Banking AdoptionAbstract
Banking industry has become the inseparable part of the world’s financial system. As internet banking is now a vital element of the banking sector then it can be rightly said that it is an inseparable part of the banks. But still users of internet banking are still worried about security and privacy related issues. Due to these perceived issues the growth of internet banking is hindering. This research paper has been written from the point of view of users of internet banking services. The main objective of this paper is to study the perceptions concerned with security and privacy issues of users of internet banking services and to study the impact of these perception on the adoption and growth of internet banking. For this purpose database of both primary and secondary sources has been used. The data for users’ perception towards internet banking is collected using well-structured and pretested questionnaire. The questionnaire is prepared on the basis of 3 point Likert scale. For the primary data collection the sample size of respondents is 100 for this study. The analysis was done using statistical techniques like descriptive statistics and t-test. The study concludes that that for maximum number of items (14 items) under study there is significant differences in perceptions towards security and privacy of internet banking regarding internet banking adoption. But for the rest of 9 items there is no significant difference in perceptions towards security and privacy of internet banking regarding internet banking adoption. But a good investment in security and privacy related tools and by increasing customer awareness about how to safeguard their information and secure their log in etc. by banks the adoption rate of internet banking can be increased. This research provides both theoretical explanations and empirical validation on the impact of perceived security and privacy issues on the adoption of internet banking.
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