Mobile banking has been continuously increasing worldwide. A number of studies have been examined on the mobile banking adoption intention (Kim et al., 2007; Sripalawat et al., 2010; Bhatiasevi, 2015; Baptista, 2015). However, most of those studies have been confined to Western countries and the developed Asian countries such as China (Ball et al, 2004; Chitty, 2012), Thus, there were only few of researches on continuance usage intention towards mobile banking in Thailand. Then, an investigation of the factors affecting users’ continuance intention should be studied to fulfill this gap. It is interesting to examine users’ continuance intention towards mobile banking and identify factors that would affect them. In addition, the adoption rate of mobile banking in Thailand is still underused than expected (Sripalawat et al., 2010). Hence, users’ continuance usage is a critical for long-term improvement of mobile banking. Consequently, continuance intention has become an essential topic of study in the mobile banking research area. The purpose is to study the impact of risk and trust on continuance intention towards mobile banking in Thailand and generate a meaningful understanding of the users’ continuance intention towards mobile banking.
Mobile Banking is in a form of electronic banking, which describes all financial transactions through mobile communication technology (Weber and Darbellay, 2010; Chen, 2008; Mallat et al., 2004). Based on Ball et al., (2004) an extend European Customer Satisfaction Index model has been investigated on continuance intention. In this paper, the perceived risk is added for a better explanation of the impact of perceived risk and trust in continuance intention on Thai mobile banking consumers.
Continuance intention can be defined as a customer’s intention for repurchasing from the same organization (Edvardsson et al., 2000). Repurchasing products and services from the same organization is a result of value received from one seller is more than other alternatives (Hallowell, 1996). Company can reduce cost and increase profit from customer loyalty. It is because company need to spend five times more than the cost of retaining an existing customer to acquire a new customer (Yap et al., 2012). It is a key factor in order to achieve company success and sustainability over time (Flavian et al., 2006; Keating et al., 2003).
Expectations, both of experience and non-experience users can have an “expectation”. Non-experience users can have an “expectations” prior consumption experience from other sources such as advertising, promotion, pricing and word-of-mouth. Patterson et al. (1997) mentioned that expectation has an influence on disconfirmation and associate on satisfaction. Perceived quality is received customization and reliability from product or service. The level that products or services meet customer’s requirements is customization and the level of firm’s providing standard products without deficiencies is reliability. Parasuraman et al., (1988) claimed that a distinctive product quality contributes the differentiation of products and services to overcome competitors. The perceived quality significantly influences on satisfaction (Parasuraman et al., 1996; Kim et al., 2008). In addition, perceived quality is expected to have a positive effect on customer satisfaction (Fornell et al., 1996).
Perceived value of a service is the benefits from service quality that customers receive relative to the costs paid by customers (Turkyilmaz et al., 2013). Perceived value is expected positively impact on satisfaction in the ECSI model (Turkyilmaz and Ozkan, 2007).
Trust is the belief that a company will complete its commitments without taking benefits from customers (Ranaweera et al., 2005). Mukherjee and Nath (2003) found trust is an antecedent of commitment in online banking. Moreover, Morgan and Hunt (1994) supported trust is a key to successful relationship marketing. Aydin and Ozer (2005) mentioned that building trust is not only perceive good outcomes but also believe that good results will continue. Trust in service providers has a significant impact on continuance intention. It is an antecedent in models concerning to relationships that include loyalty as dependent variables (Schaupp and Be ́langer, 2005; Verhagen et al., 2006). Lack of trust can influence the way in which consumers see banks and financial institutions and in particular consumers’ attitudes to new forms of service delivery via the internet (Zhao et al., 2010).
Perceived risk has changed as people have engaged online transactions. In the past, perceived risk was mainly related to fraud or product quality, but presently perceived risk is linked to financial, psychological, physical, or social risks in online transactions (Forsythe and Shi, 2003; Im et al., 2008). There are different types of risks were explored in the previous research about mobile banking and other banking technologies. Firstly, privacy and security were concerned regarding mobile banking among some consumers (Luarn and Lin, 2005). A PIN codes has been used to increase the security. Personal details and financial information became the main concern for mobile banking (Brown et al., 2003), especially among mature consumers (Laukkanen et al., 2007). When customers perceive an uncertainty, they tend to limit their usage or purchase intention Lin (2008). In addition, Wu and Wang (2005) support that risk has a statistically significant effect on intention to use mobile commerce in Taiwan.
Satisfaction can be defined as how much customers are satisfied with the products or services of a company, and how well their expectations are met Oliver (1999). Customer satisfaction has been also explained as an overall evaluation of a firm’s post-purchase performance or utilization of a service (Fornell, 1992). Customer satisfaction is generally viewed based on evaluations and expressed some time during the purchase-consumption process. Loyalty and satisfaction are considered in several conceptual. There are a relationship between loyalty and satisfaction (Oliver, 1999).
For the methodology, the questionnaire was administered through online included questions measuring the variables based on the extended European Customer Satisfaction Index (ECSI) model. Both males and females mobile banking consumers aged more than 18 years old living or working in Thailand are focused on this paper. The questions were rated on a 5-point Likert scale and developed from previous mobile banking studies (Parasuraman et al.,1988; Bhattacherjee, 2001, Ball et al., 2003; Chen, 2012; Kang et al., 2012; Kursunluoglu, 2014; Baptista, 2015). The partial least squares path modelling was used to investigate data from questionnaire to test hypotheses and determine the consistency, reliability and construct validity, as well as the relationships among constructs. 403 valid samples were collected after eliminating 153 invalid samples. The majority of respondent uses mobile banking more than 4 times a month as 36 percent. A percentage of 30 of respondents use mobile banking 1-2 times a month. Respondents using mobile banking 3-4 times a month and less than once a month follow with 19.1 percent and 14.6 percent respectively.
The results from partial least squares path modelling have shown that the expectation has a significant impact on customer satisfaction. Thai consumers who set expectation on their mind by using their previous experience or word of mouth from their friends will compare the mobile banking service performance to their expectation. They would satisfy the mobile banking if the services meet their expectation.
Perceived quality has a significant positive impact on customer satisfaction. Providing good performances with accuracy, unfreezing system contributes customer satisfaction on Thai mobile banking users.
Perceived value affects on customer satisfaction. After Thai consumers use the mobile banking service, they would evaluate the benefits receiving from the service relative to the costs paid by customers. If service received was worth with the money paid, Thai consumers would satisfy services.
Perceived risk does not have a negative impact on customer satisfaction but it has a significant negative effect on continuance intention. Thais’ satisfaction would not be reduced by perceived risk, whereas Thai users would stop using mobile banking if they feel unsafe and perceive risk.
Trust has a significant direct impact on continuance intention towards mobile banking consumers in Thailand. This shows that Thai consumers would keep using mobile banking service since they trust on the mobile banking service providers.
The satisfaction is a dominant in continuance intention. Satisfaction has a significant impact on continuance intention. Once users satisfy the mobile banking service, they would like to continue use mobile banking and introduce mobile banking to their friends.
In conclusion, satisfaction, trust and perceived risk have an impact on continuance intention towards mobile banking in Thailand. Expectations, perceived quality, perceived value have an indirect impact on continuance intention in using mobile banking for Thai consumers through satisfaction. The satisfaction is a dominant factor of continuance intention usage (Bhattacherjee, 2001a, 2001b; Chen et al., 2012; Lam et al., 2004). Satisfaction on mobile banking can be generated by good quality service, value, and responding customers’ requirement to meet their expectations. Surprisingly, perceived risk has no a negative impact on customer satisfaction, but it has an impact on continuance intention. Trust also leads Thai consumers continue use mobile banking. This study contributes mobile banking service providers to know the impact of risk and trust on continuance intention towards mobile banking in Thailand and generate a meaningful understanding of the users’ continuance intention towards mobile banking. The result can improve the volume and value of mobile banking transaction, and satisfaction. Moreover, mobile banking providers can reduce the challenge and generating a better decision on the future marketing campaign to motivate mobile banking consumer keeps using the services.

• Chayawan Poromatikul(College of Management Mahidol University, Thailand)
• Kannika Leelapanyalert(College of Management Mahidol University, Thailand)