Despite the gravitation toward Internet banking research in the information systems and information technology literature, scholars and practitioners, particularly in emerging and developing countries, have not fully explored the barriers affecting customers' intention to engage in e-banking transactions, particularly from a sub-Saharan perspective. There is still a considerable gap in the research on how online risk and socio-economic factors influence customers' intention to engage in Internet banking activities. To fill this gap, we took an online and socio-economic perspective on Internet banking adoption in an aspiring to-be IT-enabled economy. Our study adopted a quantitative research approach. Intercept surveys were conducted among 672 bank customers in Ghana. Seven hypotheses were developed, and partial-least square structural equation modelling was used to test the relationship between the variables. Our findings revealed that fear of financial loss, fear of reputation damage, avoidance motivation, price of digital devices, perceived knowledge gap, infrastructure gap, and perceived financial charge are significant barriers to e-banking adoption. The novelty of our research lies in the research framework, which is a unique conceptual model presenting online and socio-economic factors preventing e-banking adoption. Theoretical and practical implications are discussed. In Sub-Saharan Africa, the burgeoning field of internet banking promises to revolutionize financial services, offering unprecedented convenience and accessibility. However, despite its potential, the widespread adoption of Internet banking services in the region face significant hurdles. This research endeavors to illuminate and dissect these obstacles, shedding light on the multifaceted challenges inhibiting the embrace of internet banking among consumers in Sub-Saharan Africa.By delving into the intricacies of perceived online risk, and socio-economic factors, this study aims to provide a comprehensive understanding of why Internet banking adoption rates remain low in the region. Through rigorous analysis and empirical evidence, we aim to offer insights that can inform policymakers, financial institutions, and stakeholders, facilitating the development of targeted strategies to overcome these barriers. Ultimately, our research seeks to not only identify obstacles but also to propose actionable solutions that can propel developing and emerging economies towards a future where internet banking services are embraced as integral components of the financial landscape. Hence, by breaking boundaries and unraveling the complexities surrounding internet banking adoption, we strive to contribute to the advancement of financial inclusion and economic development in the region and beyond.
