Determinants of Mobile Banking Adoption: An MCDM Approach using WSM

Mobile banking has emerged as a significant innovation in the financial sector. It allows customers to conveniently access banking services through their mobile devices. This enables users to perform various financial transactions, including checking account balances, transferring funds, paying bills, and managing accounts, anytime and anywhere. Despite significant advancements in mobile technology and the widespread use of smartphones, the adoption rate of mobile banking remains relatively low. This highlights the need for a better understanding of the factors influencing user acceptance. This study explores the primary factors affecting the intention to use mobile banking, focusing on convenience, ease of use, compatibility, and user expectations. To achieve this, a multi-criteria decision-making (MCDM) approach, specifically the Weighted Sum Model (WSM), is employed to systematically evaluate and prioritize the factors influencing mobile banking adoption. The selected criteria are assigned equal weights to ensure an unbiased evaluation, and normalized data is used to compare alternative mobile banking applications. Five popular mobile banking platforms – iMobile, Pay Zapp, M-Connect, Axis Mobile, and YONO – are evaluated based on the identified criteria. The results reveal significant differences in performance among the applications, with each demonstrating strengths in different dimensions. Pay Zapp ranks highest, followed by Axis Mobile and YONO, while iMobile and M-Connect show relatively lower performance. These findings underscore the importance of evaluating mobile banking services using multiple criteria rather than relying on a single factor. This study contributes to the existing literature by applying the WSM method in the mobile banking context and provides practical insights to banks and developers for improving mobile banking adoption by enhancing usability, compatibility, and perceived benefits. Alternatives: iMobile, Pay Zapp, M-Connect, Axis Mobile, YONO. Evolution parameters: Convenience, simplicity, compatibility, expectation. According to the results, the Pay Zapp form ranked highest, while M-Connect users ranked lowest. According to the WSM method approach, wheat has the highest value of Mobile Banking.