Users’ Value Perceptions of New Communication Technologies and Their Willingness to Pay : A Case Study of Mobile Banking

Background/Objectives: The purpose of the current research is evaluating the various dimensions of users’ perceptions of mobile banking by applying the theory of consumer values and determining those dimensions which can convince users to be loyal to this kind of communication channel and the supplier bank although the price increases. Methods/Statistical Analysis: The positive and direct effects of monetary, social, conditional, convenience, cognitive and emotional value perceptions on willingness to pay more were investigated in this research. The research applied convenience sampling method. The sample size was 400 according to the Kreceji and Morgan’s sample table. 105 questionnaires returned by respondents and 93 ones were analyzed showing 26% response rate. The structural equation modeling applied using Smart–PLS Software to analyze data. Findings: The findings showed that it is only the emotional value of technology use which can convince users to be loyal to the communication channel even though the price increases. Therefore, it can be concluded that entertainment and joyfulness of doing banking affairs through cell phone can influence the overall evaluation of customer from the obtained benefits in exchange for expenses, i.e perceived value, and contributes to the loyalty of customers to this communication channel and the bank offering this services. It also shows that low price is not the only way of being successful in the market forever but it is possible to make more profit by creation and innovation through emphasizing on entertainment and joyfulness of mobile banking services along with the price increase. Application/Improvements: The finding of this study is useful for all banks offering mobile banking in order to determine their strategies in business level