The Effect of Consumers’ Perceived Value on Acceptance of an Internet-Only Bank Service

Abstract

This study focuses on perceived value, which is not mentioned in previous internet-only bank studies, to analyze the popularity of internet-only banks. It does this by exploring the relationships between the perceived value and usage intention of customers. The purpose of this study is to help us understand customers’ decision making to accept innovative services by finding factors that affect consumer acceptance of internet-only banks. Using multiple regression, this study analyzes data gathered from college students in their 20s who are familiar with IT services and are interested in internet-only banks. The results show that all three components of perceived value (economical value, convenience value, and emotional value) increase usage intention. Convenience value is the most important factor in the acceptance of internet-only banking services. The findings indicate that perceived value is an attractive factor in using internet-only banks and suggest that managing and developing perceived value is an important marketing strategy.