Analysis of mobile banking adoption in Ghana: do education levels differ?

Abstract

This study investigates the role of educational attainment in mobile banking (m-banking) adoption in Ghana, leveraging data from 598 respondents through a multi-group analysis. By integrating the technology acceptance model (TAM) and the theory of planned behavior (TPB) into a structural equation modelling framework, the research examines key factors such as subjective norms, perceived usefulness, ease of use, trust, and self-efficacy. Results reveal significant differences in adoption behaviors between lower- and higher-educated users. Subjective norms strongly influence higher-educated individuals, while perceived ease of use drives adoption among lower-educated users. Perceived usefulness positively affects higher-educated users but has a negative impact on lower-educated respondents. The findings highlight the moderating effect of education level on the adoption process, offering theoretical and practical insights into targeted strategies for enhancing financial inclusion in developing economies. These results underscore the importance of user segmentation in fostering broader acceptance and utilization of m-banking technologies.