Gender and Age Effect on Acceptance of Internet Banking: Cultural Comparison between United States and Malaysia

Abstract

Weak marketing strategies of emphasizing the same Internet banking features in different countries have failed to accurately suit the local demands. As one percent increase in the retention of Internet banking acceptance will typically bring 18 percent reduction in operating cost (Bhattacherjee, 2001), indifference towards consumers’ adoption of Internet banking services may result in a big loss to the financial institutions. Therefore, this study is conducted to help banks mitigate the key cause of profit reduction in Internet banking industry which is an insufficient understanding of customer behaviour and preference by recommending effective strategies to help banks retain existing Internet banking customers. A questionnaire was developed based on the theoretical framework, tested in a pilot study, and finally distributed to a sample of 1,200 Internet banking users from major cities in the United States and Malaysia. Malaysian females have significantly higher behavioural intention to use Internet banking services compared to their counterparts in the United States. Young adults in the United States are more likely to be influenced by their social environment when using Internet banking services while middle-aged adults from Malaysia rank significantly higher on behavioural intention to use Internet banking services, performance expectancy, effort expectancy, facilitating conditions and attitude towards using Internet banking. The study is also the among the very few available research that attempts to discuss cultural differences of Internet banking acceptance of the United States and Malaysia by applying a combination of Hofstede (2001) and Trompenaars and Hampden-Turner (1998)'s cultural dimensions.

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