A STUDY OF ATTITUDES OF POTENTIAL SENIOR CUSTOMERS …

A STUDY OF ATTITUDES OF POTENTIAL SENIOR

CUSTOMERS WHO NEVER USE ONLINE BANKING

TOWARD ELECTRONIC CHANNEL ON BANKING

SERVICES: A STUDY OF 50-70 YEARS OLD

LIVING IN PEOPLE BANGKOK AREA

BY

MISS VARANPORN CHANTRATHADA

AN INDEPENDENT STUDY SUBMITTED IN PARTIAL

FULFILLMENT OF

THE REQUIREMENTS FOR THE DEGREE OF

MASTER OF SCIENCE PROGRAM IN MARKETING

(INTERNATIONAL PROGRAM)

FACULTY OF COMMERCE AND ACCOUNTANCY

THAMMASAT UNIVERSITY

ACADEMIC YEAR 2014

COPYRIGHT OF THAMMASAT UNIVERSITY

A STUDY OF ATTITUDES OF POTENTIAL SENIOR

CUSTOMERS WHO NEVER USE ONLINE BANKING

TOWARD ELECTRONIC CHANNEL ON BANKING

SERVICES: A STUDY OF 50-70 YEARS OLD

PEOPLE LIVING IN BANGKOK AREA

BY

MS. VARANPORN CHANTRATHADA

AN INDEPENDENT STUDY SUBMITTED IN PARTIAL

FULFILLMENT OF

THE REQUIREMENTS FOR THE DEGREE OF

MASTER OF SCIENCE PROGRAM IN MARKETING

(INTERNATIONAL PROGRAM)

FACULTY OF COMMERCE AND ACCOUNTANCY

THAMMASAT UNIVERSITY

ACADEMIC YEAR 2014

COPYRIGHT OF THAMMASAT UNIVERSITY

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Thesis Title A STUDY OF ATTITUDES POTENTIAL OF

SENIOR CUSTOMERS WHO NEVER USE

ONLINE BANKING TOWARD ELECTRONIC

CHANNEL ON BANKING SERVICES: A

STUDY OF 50-70 YEARS OLD PEOPLE LIVING

IN BANGKOK AREA

Author MISS VARANPORN CHANTRATHADA

Degree Master of Science Program in Marketing

(International Program)

Major Field/Faculty/University Faculty of Commerce and Accountancy

Thammasat University

Independent Study Advisor Professor Kenneth E. Miller, Ph.D.

Academic Years 2014

ABSTRACT

The study of attitudes of senior customers who never use online banking

toward electronic channel on banking services was conducted because the online

banking has been growing significantly year by year. Senior customers are one of the

interesting segment with high purchasing power. This study helps define and

understand senior customers’ attitudes and perceptions toward online banking services.

The research was conducted by two methods--exploratory research and

descriptive research. Exploratory Research was conducted with 1 pilot and 3

respondents to be the guidelines for descriptive methods. Descriptive Research was

conducted to measure senior customers’ attitudes and perceptions toward online

banking services with 5 pilots and 80 respondents who are male and female aged from

50-70 years old, never use online banking or inactive users, living in Bangkok.

Key findings show that respondents think that top 3 factor to adopt

online banking were risk, trust/security for system and facilitating. While the least

consideration point was compatibility. Overall attitude toward online banking are

neutral. The recommendations are increasing the sample size to investigate more on

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each factors on potential customer attitude and, also reconsidering the important of

this segment to be other ages.

Keywords: Online Banking, Banking Service, Attitude towards online banking,

Adoption, senior customers

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ACKNOWLEDGEMENTS

I would like to express my sincere gratitude to all those who supported and

provided me the opportunity to complete this Independent Study. I am heartily grateful

to my advisor, Prof. Dr. Kenneth E. Miller, for his guidance and encouragement

throughout my independent study course. Also, I would like to thank to my committee

members, Assoc. Prof. Dr. James E. Nelson, Prof Dr. James G. Hutton, Prof. Dr. Phillip

C. Zerrillo, Assoc. Prof. Buarat Srinil, and Prof. Dr. Siriluck Rotchanakitumnuai.

Furthermore, I would like to acknowledge with much appreciation and

thanks to all professors in MIM program for new perspectives and knowledge. Thanks

MIM staff for coordinating and assisting throughout my program. Especially, Asst. Prof.

Pannapachr Itthiopassagul to make a MIM experience is a very memorable one. Also, I

Thank you MIM alumni and all my classmates, MIM27, for wisdom, advices,

relationship and encouragement. Thanks my co-workers and boss for supports.

Lastly, I would like to thanks to all respondents in this research, who gave

their valuable time for both in the in-depth interview and the survey. And I also deeply

appreciate my family for their unconditional support throughout my degree.

Ms. Varanporn Chantrathada

Master’s Degree Program in Marketing (MIM)


2015

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TABLE OF CONTENTS

Page

ABSTRACT .................................................................................................................... (2)

ACKNOWlEDGEMENTS .............................................................................................. (4)

TABLE OF CONTENTS ................................................................................................ (5)

LIST OF TABLES .......................................................................................................... (8)

LIST OF FIGURES ......................................................................................................... (9)

CHAPTER 1 INTRODUCTION…………………………………………………………1

1.1 Background……………………………………………………………….…..1

1.2 Objective of the study………………………………………………….……..2

Main Objective………………………………………………………………2

Sub-Objectives……………………………………………………………….2

1.3 Variables and definitions………………………………………………….….2

1.3.1 Variables……………………………………………………………….2

1.3.2 The defenition of the terms of this study and hypothesis consist of…...3

1.4 Scope of the study………………………………………………………….…3

1.5 Significant of the study………………………………………………….……3

CHAPTER 2 REVIEW OF LITERATURE………………………………………….….5

2.1 Overview of online banking in Thailand……………………………………..5

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2.2 Overview of senior behavior as an internet user……………………….……..5

2.3 Senior users’ perception for online banking………………………….………6

2.4 Innovation resistance theory………………………………………………….6

2.5 Theoretical frameworks for technology adoption……………………………7

2.6 Barriers and challenge to adopting new technology…………………….……7

CHAPTER 3 RESEARCH METHODOLOGY………………………………………….9

3.1 Exploratory research methodology……………………………………….…..9

3.1.1 Secondary research…………………………………………………….9

3.1.2 In-depth interview……………………………………………………...9

3.2 Descriptive research methodology……………………………………………9

3.3 Sampling procedure………………………………………………….……...10

3.3.1 Sample Selection……………………………………………………..10

3.3.2 Respondent Qualification…………………………………………….10

3.4 Survey acquisition and recruiting plan……………………………………...10

3.4.1 In-depth Interview……………………………………………………10

3.4.2 Questionnaires………………………………………………………..10

3.5 Data collection………………………………………………………………11

3.5.1 In-depth interview…………………………………………………….11

3.5.2 Questionnaires………………………………………………………..11

3.6 Data analysis……………………………………………….………………..11

3.6.1 In-depth interview…………………………………………………….11

3.6.2 Survey………………………………………………...………………12

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CHAPTER 4 RESULTS AND DISCUSSION……………………………..…………..13

4.1 Results from exploratory research: In-depth interview result………...…….13

4.2 Results from descriptive research: Questionnaire…………………………..13

4.2.1 General information and behavior of the respondents……………….14

4.2.2 Basic knowledge of senior customers toward………………………..17

online banking services

4.2.3 Basic knowledge of senior customers toward………………………..18


4.2.4 Correlation between Lifestyle & Attitude toward online banking……21

4.2.5 Consideration points to adopt online banking………………………..27

CHAPTER 5 CONCLUSIONS AND RECOMMENDATIONS……………………….29

5.1 Conclusion…………………………………………………………………..29

5.2 Limitation……………………………………………………………………30

5.3 Recommendation…………………………………………………...……….30

REFERENCES………………………………………………………………………….31

APPENDICES…………………………………………………………………….…….33

APPENDIX A: IN-DEPTH INTERVIEW QUESTIONS GUIDE…….………..34

APPENDIX B: QUESTIONNAIR……………………………………...………36

BIOGRAPHY …………………………………………………………………………..42

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LIST OF TABLES

Tables Page

Table 1: Summary of Respondent Demographics (N=80) 15

Table 2: Frequency rate of using internet via their electronic tool 16

Table 3: Current banking channel services 16

Table 4: Inactive users 16

Table 5: Inactive users why reject online banking services 17

Table 6: Summary of Basic knowledge of senior customers toward online banking

services 17

Table 7: Shopping online users 17

Table 8: Current banking channels for shopping online users 18

Table 9: Attitudes toward benefits 18

Table 10: Attitudes toward perceived behavior 19

Table 11: Attitudes toward users’ opinions 20

Table 12: Consideration to use online banking if receiving data from key influencers 20

Table 13: Key influencers 21

Table 14: Factor analysis based on Lifestyle 21

Table 15: Correlation between Lifestyle & Attitude on Compatibility 22

Table 16: Correlation between Lifestyle & Attitude on Perceived ease of use 23

Table 17: Correlation between Lifestyle & Attitude on Perceived Usefulness 23

Table 18: Correlation between Lifestyle & Attitude on Peer influencer 24

Table 19: Correlation between Lifestyle & Attitude on Self-efficacy 25

Table 20: Correlation between Lifestyle & Facilitating condition 25

Table 21:Correlation between Lifestyle & Trust/Perceived security 26

Table 22 Correlation between Lifestyle & Risk 26

Table 23 Consideration points to adopt online banking 28

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LIST OF FIGURES

Figures Page

Figure 1: Consumer Resistance to Innovation 6

Figure 2: Decomposed theory of planned behavior (DTPB) 7

1

CHAPTER 1

INTRODUCTION

1.1 Background

Nowadays, technology has become one of the most vital elements for human in

everyday life as it helps facilitate daily activities and maximize our time value in life. As

a result, digital devices such as computers, tablets and mobile phones become a must

have items since they allow us to connect with the online world where we live our lives

in parallel.

Internet banking is one of the main online activities for the internet users

(Electronic Transactions Development Agency, 2013). The emergence of the internet

has a significant impact on the diffusion of electronic banking. With the help of the

internet, banking is no longer limited by time nor geography. Customers all over the

world have relatively easy access to their account 24 hours, 7 days a week. Therefore,

internet banking provides many benefits to both banks and their customers (Minna

Mattila, 2003)

According to Bank of Thailand statistics in 2013, Thailand is an attractive market

for online banking industry with 8 million internet banking accounts out of 24 million

internet users. The amount of transaction is estimated to be THB 1,700bn with the

growth rate of 15-20% (Bank of Thailand, 2014). Referred to Electronic Transactions

Development Agency, senior users aged above 50 years old is accounted for about 10%

of total Thailand internet users in 2013. Despite the fact that this is a small segment,

senior users has extraordinary high purchasing power. The average amount per purchase

positively correlates with age. The highest average amount of 5,284 Baht per time was

found in the elderly group aged 50 and over (Electronic Transactions Development

Agency, 2013). Based on the fact shown above, senior group is an attractive segment

that increase internet banking usage for the benefits of both customers and banks.

Therefore, “The study of attitudes of potential senior customers who never use

online banking toward electronic channel on banking services: A study of 50-70 years

old people living in Bangkok Area” was chosen as the independent study topic. This

study allows the bank to increase number of senior users and also improve online

banking service to meet the demand by providing right values for this group of

customers.

2

1.2 Objective of the study

This research has the following objectives:

Main Objective

1.2.1 To ascertain the potential senior customers’ adoption attitudes

towards online banking services.

1.2.2 To explore the factors effecting potential senior customers to adopt

online banking services.

Sub-Objectives

1.2.3 To investigate the reason why 50-70 year-old customers resist

online banking services.

1.2.4 To explore the most concerning point that hinder the adoption of

online banking.

1.3 Variables and definitions

1.3.1 Variables

Independent variable:

Gender

Age

Education level

Occupation

Marriage Status

Income

Basic knowledge of online banking

Lifestyle

Dependent variable:

Attitudes of potential senior customers who

have never used online banking services

before or inactive consumers which can

divided into 3 topics as follows;

Benefits:

Compatibility

Perceived ease of use

Perceived Usefulness

Perceived behavior:

Self-efficacy

Facilitating condition

Opinions:

Peer influencer

Trust/ Perceived security

Risk

3

1.3.2 The defenition of the terms of this study and hypothesis consist of:

Online banking is a new innovative electronic channel for financial service

that allow customers to make a transaction via internet (computer/ laptop device), mobile

phone or tablet via an application. The financial transaction such as statement inquiry,

deposit, bill payment, fund transfer, etc.

Potential senior customers refer to a group of customers aged between 50-

70 years old who have never used online banking services before or inactive users who

have not used online banking in the past 3 months. However, they are familiar with

electronic tool and can connect with internet.

Adoption is an acceptance of a concept or innovation. Adoption refers to the

way that customers adopt online banking.

Resistance is a refusal to accept or use something such as a new idea or

innovation. Therefore, resistance refers to the way that the 50-70 years old customers

avoid using online banking.

Trust is a level of 50-70 years old customers’ confidence towards the use of

online banking in these following aspects: complication of service, company name and

reputation, company system, special promotion, reference group, experience with

products and risk of using the service.

1.4 Scope of the study

This study was investigated only the attitudes of senior adult users (50 to 70-

year old) who never use online banking or being inactive users (who have not used in the

past 3 months) toward this services in Bangkok area.

1.5 Significant of the study

As technology has improved our lives, many businesses such as financial

institution, try to keep up with this trend by investing and offering electronic distribution

channels in order to make customers’ activities much easier and also to save their

operational costs. The study on “Attitudes of potential senior customers who never use

online banking toward electronic channel on banking services: A study of 50-70-year old

people living in Bangkok Area” is important in several aspects. Firstly, bank service

providers will obtain more information about the factors why consumers do not use

4

online banking, especially senior consumers since this segment has high purchasing

power. Secondly, understanding their attitudes, needs, perceptions and behaviors

towards online banking will help banks serve this segment more effectively and

appropriately. Lastly, the findings will allow the banks to develop more precise

strategies to respond the needs of this segment.

5

CHAPTER 2

REVIEW OF LITERATURE

A review on the literature and information related to this topic revealed a

variety of results as follows;

2.1 Overview of online banking in Thailand

According to Samphanwattanachai’s study, internet banking service is still at

the early stage and there are only a small number of Internet Banking users. Thailand’s

banking industry, especially the major commercial banks, have their own internet banking

websites in order to let the consumers execute their bank transactions via the internet.

Many banks have to invest in the internet because it is a new channel to keep in touch

with consumers, allowing fast interaction between both parties, making it more

convenient for all. (Boonyarat.Samphanwattanachai, 2008)

The numbers of Internet and mobile banking users have grown up recently as

well as volume and value of transactions via such systems. In quarter 2 of 2014, there are

around 8.7 and 3.2 million agreements on Internet and mobile banking, respectively.

These account for 43 and 24 million transactions in volume that cost approximately 5,000

and 306 billionbahts. However, the growth of IT investments and advanced services in

banking industry comes with a concern on ‘security’, which is the challenging key that

hinder the sustainability of such a growth. Bank of Thailand will put ‘security’ as the first

priority aligning with standard setting to promote advancement of banking services. (Bank

of Thailand, 2014).

2.2 Overview of senior behavior as an internet user

According to Thailand internet user profile (Electronic Transactions

Development Agency, 2013) found that seniors use the internet mostly on 2 periods

which are 8.00AM.-12.00 PM. and 8.00PM. -12.00AM. Moreover, they prefer to use

desktop computer and tablet PCs. Moreover, statistics show that the proportion of

persons aged over 60 years in Thailand now accounts for 13 percent of the total

population. In the next 20 years, the aging population is expected to account for 25

percent of the population. (department, 2014).

6

Functional Barriers

2.3 Senior users’ perception for online banking

The study of older adult and technology use by Pew research center found that

the older Americas can divided into 2 different groups (Aaron Smith, 2014). The first

group (which leans toward younger, more highly educated, or more affluent seniors) has

relatively substantial technology assets, and also has a positive view toward the benefits

of online platforms. The other (which tends to be older and less affluent, often with

significant challenges with health or disability) is largely disconnected from the digital

world tools and services, both physically and psychologically.

2.4 Innovation resistance theory

(Ram S. & Sheth, 1989) refer to Figure1, Described about innovation and

resistance theory with five minor barrier as following:

The usage barrier occurs when it is not compatible with existing workflows,

practices or habits.

The value barrier occurs when consumers not find a strong performance compare to

price value.

The risk barrier is based on uncertainty that is inherent in an innovation.

The tradition barrier occurs when the tradition culture change of an innovation.

The image barrier is the stereotyped opinion of consumers towards each

innovations.

Figure1. Consumer Resistance to Innovation

Consumer Resistance to Innovation

Usage Barrier

Value Barrier

Risk Barrier

Traditional Barrier

Image Barrier

Psychological Barriers

Figure 1: Consumer Resistance to Innovation

7

2.5 Theoretical frameworks for technology adoption

Figure2 described about the decomposed theory of planned behavior

(DTPB) which attitude, subjective norm and perceived behavioral control affected

intention and usage behavior (Fahad Asmi, 2012). However, this research will focus

only on attitude part. The attitude consists of ease of use, perceived usefulness, and

compatibility. Understanding more on each topic will reflect the strong result of the

study.

Figure 2: Decomposed theory of planned behavior (DTPB)

2.6 Barriers and challenge to adopting new technology

One of the studies found that most seniors used internet for research while

they used for online purchasing the less (Al-Alawi, 2005). The respondents provided the

following reasons to justify why they seldomly conduct online transactions:

1. Lack of security

2. Avoiding the risk of not getting what they want.

3. They trusted the suppliers more when there is face-to-face interaction.

Focus on this research

8

Lastly, according to Pew research center (Aaron Smith, 2014), senior

consumers face several unique barriers and challenge to adopt new technology,

including;

Physical challenge to using technology: many seniors have physical

conditions or health issues that make it difficult to use new technologies.

Skeptical attitudes about the benefits of technology: half of non-users

agree with the statement that “people lacking internet access are at real disadvantage

because of all the information they might be missing”

Difficulties learning to use new technology: A majority of seniors need

assistance when it comes to using new digital devices. They want to use social media

platform such as Facebook and Twitter to connect with friends or family members.

All of these data were selected to support the content of this study. The next

chapter is the research methodology.

9

CHAPTER 3

RESEARCH METHODOLOGY

To achieve all study objectives, the research was conducted using two

methods which are Exploratory Research and Descriptive Research.

3.1 Exploratory research methodology For quantitative research, this method is used to gathers information for

prerequisite stage. This study explored factors that affect on senior customers’

perceptions and attitudes toward the online banking services.

3.1.1 Secondary research

Secondary research helped understand the market overview and also

helped explore about online banking services influence in order to gain key

information needed to design the quantitative research.

Information data was gathered from several published sources such as

Internet, public journals, news, organizational websites, and related research studies

both printed versions and electronic versions.

3.1.2 In-depth interview

The participants will be interviewed with semi-structured questions. All of

them have to pass the screening question to be considered as “the target respondents”.

Brief documents regarding to research objectives will be informed prior to the

interview, which gave respondents a glimpse of in-depth interview. The length of time

to take target audiences to complete the In-depth interview was about 30 minutes.

(See Appendix A)

3.2 Descriptive research methodology

After the researcher obtained information from exploratory research, all

data were developed into the questionnaire that started with screening questions,

followed by the main questions. Descriptive research was used to quantify results into

percentages, figures, and ranking the information that the researcher gathered from

the survey.

The questionnaire was piloted and revised before launching (See

Appendix B). The target audiences took approximately 10 minute time to complete

the survey. The data were interpreted and analyzed to answer the objectives.

10

3.3 Sampling procedure

Both qualitative and quantitative were designed to use convenience

samples in order to obtain information quickly.

3.3.1 Sample Selection

The respondents will be screened at the beginning stage with the potential

customers or non-users who have never used online banking services before or inactive

users who have not used the service in the past 3 months.

3.3.2 Respondent Qualification

Male or Female between 50-70 years old

Has electronic tool connecting with internet such as notebook,

computer, smartphone, tablet, etc.

Live in Bangkok areas

3.4 Survey acquisition and recruiting plan

3.4.1 In-depth Interview

The researcher used personal contact to recruit four qualified

respondents (1 pilot test and 3 non-users). All respondents had to pass the screening

question at the beginning so that they were considered as “target respondents”. The

data collection period for in-depth interview was on January 2015.

3.4.2 Questionnaires

After completing 5 pilot tests, questionnaires were distributed to obtain

data. Completed 80 questionnaires were collected through the off-line and online

channels. For off-line questionnaires, they were printed and done face-to-face with

senior users at public area such as Lumpini park, coffee shop, etc. and also from

workplace and friends’ parent. Moreover, online questionnaires were created by using

the “Google Forms” web page. The questionnaires were distributed in online channel

such as Facebook. The questionnaires distributed by requesting indirectly to target

respondents via their family members to complete the survey. The data collection

period for Survey was on March 2015.

11

3.5 Data collection


In-depth interview was conducted face-to-face. A total of three respondents

who are senior consumers who never use online banking or who is an inactive user that

have not used in the past 3 months. The interview was conducted at the place where

interviewee is convenient.

The length of time for target audiences to complete the In-depth

interview was about 30 minutes.

3.5.2 Questionnaires

The questionnaire was distributed by using the convenience methods

through the off-line and online channels.

Total respondents of 80 people

The length of time for target audiences to complete the survey was

about ten minutes.

Questionnaire was divided into six parts.

o Part 1: Screening questions

o Part 2: Basic knowledge and behavior of senior customers toward


o Part 3: Attitudes, factors and lifestyle of senior customers toward


o Part 4: Consideration point to adopt online banking

o Part 5: Demographic Information

3.6 Data analysis


The data collection from the in-depth interview will be analyzed

individually to define the key finding of each passenger into the descriptive format.

The summary of each participant will be written by using the following topics pattern;

Pre-Screen questions:

Basic knowledge of online banking

The perception and attitude toward online banking

12

The influencing factors affecting senior customers who are non-users

to adopt banking service

The lifestyle and personality

The most consideration point to adopt online banking

Demographic information

Moreover, the findings of each topic or sub-topic will be listed. Then, the

selected answers will be used as the choices when designing the survey questionnaire.

3.6.2 Survey

Before analysis procedure, the survey data were screened, coded, and

edited as necessary to help ensure more accurate data and then entered electronically.

Then, the verified data will be analyzed by using SPSS (Statistical package for the

Social Science) and focused on frequencies, means, descriptive and other appropriate

statistical analysis. The multiple choices and rating scale (1-7) will be rated in

percentages, focusing on the frequency, relative frequency, correlations between

variables and other appropriate statistical tools. Then, the quantitative result from

SPSS will be interpreted and presented in pattern of table as the support evidence of

“The study of attitudes of potential senior customers toward online banking services:

A study of 50-70 years old people living in Bangkok Area”.

13

CHAPTER 4

RESULTS AND DISCUSSION

4.1 Results from exploratory research: In-depth interview result

The total respondents were 2 men and 2 women who have age of 55 58 and

62 and 72 years old. They had smartphone or IPad the internet connecting devices.

In terms of demographics, all of them were married, with education level of

bachelor degree and above. Two of them still were working while the others were

retired.

The researcher found that all of respondents aware the existence of online

banking but they had never tried and thought it is risky and hard to adopt.

For the inactive user, he discontinued using online banking as he thought it

was hard to remember the password and he had very few financial transactions in each

month.

The variables that affect their attitudes was not only based on secondary

data that consist of compatibility, perceived ease of use and, perceived usefulness, but

also others factors such as self- efficacy, facilitating condition, peer influencer, trust/

perceived security and risk that can be concluded after completing the in-depth

interview.

From three respondents, the top three factors that have an impact on their

decision to adopt online banking are lowest risk of system, giving reliable on trust or

security, and full support facilitating condition such as have personal assistant to teach

how to use or proper design to more friendly user for senior customers.

4.2 Results from descriptive research: Questionnaire

This is a descriptive research employed to quantify the attitudes of senior

customers who never use online banking toward electronic channel on banking services

and living in Bangkok Area.

The report will be divided into five parts based on the data collected from

questionnaires as follows:

14

4.2.1 General information and behavior of the respondents

4.2.2 Basic knowledge of senior customers toward online

banking services

4.2.3 Attitudes of potential senior customers toward online

banking services

4.2.4 Correlation between Lifestyle & Attitude toward online

banking

4.2.5 The most consideration point to adopt online banking

4.2.1 General information and behavior of the respondents

The total number of respondents is 80. Below is the summary table for

respondent demographic (see Table 1). The majority of respondents were female which

accounts for 67.5%. The average age of most respondents were between 56 and 60

years old which has the frequency of 33.8%. Moreover, 55% of respondents were

married and most of them had bachelor degree which contribute to 56% of the total.

Government officer was founded to be the majority of respondents of this questionnaire

survey with almost 37%. Other occupations included business owner and retired

persons. Average monthly income quite varies but most of them or 35% got income of

45,001 to 60,000 baht per month or higher.

15

Table 1: Summary of Respondent Demographics (N=80)

Demographics Frequency Percentage %

Gender: Female 54 67.5

Male 26 32.5

Age: 50 years old 10 12.5

51 -55 years olds 11 13.8

56 - 60 years old 27 33.8

61 - 65 years olds 21 26.3

66 - 70 years olds 8 10.0

71 and up 3 3.8

Marriage Status: Single 12 15.0

Marriage 44 55.0

Divorce 8 10.0

Widow/Widower 16 20.0

Educational Level: Below Bachelor 16 20.0

Bachelor 45 56.3

Above Bachelor 19 23.8

Occupation: Employee 7 8.8

Government officer 29 36.3

Merchant/Business

owner 14 17.5

Freelance 2 2.5

Retired with pension 5 6.3

Retired with other

income 16 20.0

Other 7 8.8

Income (baht/month) Less than 15,000 5 6.3

15,001 – 30,000 19 23.8

30,001 – 45,000 17 21.3

45,001 – 60,000 28 35.0

60,001 – 75,000 3 3.8

More than 75,000 8 10.0

16

Table 2 exhibits that almost 37% used their electronic tool connecting with

internet such as use their notebook, computer, smartphone, Ipad or tablet 3-5 times

per day.

Table 2: Frequency rate of using internet via their electronic tool

Frequency rate of using internet Frequency Percentage %

Less than once a week 9 11.3

1-2 times per day 12 15.0

2-3 times per week 13 16.3

3-5 times per day 29 36.3

More than 5 times per day 17 21.3

According to table 3 most of respondents used both ATM and bank branch

(73.8% and 70 % respectively) for their main financial banking services. The result

showed that they had never use online banking or telebanking before. Interestingly,

12.5% had their family member to complete their financial transactions.

Table 3: Current banking channel services

Current banking channel services Frequency Percentage %

Branch 56 70.0

ATM 59 73.8

Online banking (Internet/Mobile banking) 0 0

Telebanking 0 0

My family will done for me 10 12.5

The result shows that there were almost 18% of total respondents who

used to use online banking (Please see Table 4). However, they discontinued using

online banking services because of 3 key main reasons. From Table 5, almost 43% of

inactive users thought that online banking were not convenience for them to use,, 36%

of them did not believe in security system, and 21% of them had only few financial

transactions.

Table 4: Inactive users

Inactive users Frequency Percentage %

I’ve never used it before 66 82.5

I’ve used to use it but not anymore 14 17.5

17

Table 5: Inactive users why reject online banking services

Reason why reject using online banking

services. Frequency Percentage %

I do not believe in security system 5 35.7

I have only few transactions 3 21.4

It is not convenience for me 6 42.9

4.2.2 Basic knowledge of senior customers toward online banking

services

Table 6 indicates the basic knowledge of senior customers toward online

banking services. Since the questions were asked in rating scales from 1-7, the mean

2.39 and 2.11 represent the majority of senior customers had low knowledge about

online banking services both internet or application channels respectively.

Table 6: Summary of Basic knowledge of senior customers toward online

banking services

Basic knowledge toward online banking services Mean

Knowledge about online banking via Internet 2.39

Knowledge about online banking via Mobile Phone/Tablet

(Application) 2.11

Interpretation Low knowledge

The result presents almost 32% of respondents used to buy products or

services online in Table 7. Moreover, Table 8 shows that they pay for their online

shopping via different channel. The main channel of payment was credit card (23%)

and paid direct to bank’s branch for 16%.

Table 7: Shopping online users

Shopping online users Frequency Percentage %

Yes 25 31.3

No 55 68.8

18

Table 8: Current banking channels for shopping online users

Banking channels for shopping online users Frequency Percentage %

ATM 2 2.5

Credit Card 18 22.5

Online banking (Internet/Mobile banking) 0 0.0

Branch 13 16.3

My family will done for me 2 2.5

Counter Services at 7-11 1 1.3

4.2.3 Attitudes of potential senior customers toward online banking

services

When considering mean value of attitude towards benefit statements from

Table 9, result of Likert scale from 1-7 shows that overall tendency of rating moved to

compatibility toward disagreement level which meant that attitude toward their

lifestyle with online banking was slightly negative with the mean value of 3.05.

Moreover, the respondents seemed to think that it was neutral for perceived ease of

use with a mean at 3.96. However, for perceived usefulness, most of respondents had

slightly positive agreement. The highest benefit for respondents was online banking

allow them complete financial transaction at convenient place with a mean at 4.78. .

Strongly

DisagreeDisagree

Slightly

DisagreeNeutral

Slightly

AgreeAgree

Strongly

Agree

Compatibility

My lifestyle gets along well with online banking

(Internet/ Mobile/ATM)12.5 40.0 12.5 17.5 7.5 2.5 7.5 3.05

Online banking makes my lifestyle trendier. 8.8 16.3 10.0 18.8 26.3 13.8 6.3 4.04


Learning to use online banking is easy for me 12.5 12.5 31.3 20.0 12.5 6.3 5.0 3.46

It is easy to get online banking to do what I want to do 3.8 17.5 15.0 27.5 20.0 11.3 5.0 3.96

Perceived Usefulness:

Enables me to complete banking transaction quickly 3.8 6.3 8.8 33.8 15.0 23.8 8.8 4.56

Allows immediate payment when shopping online 5.0 5.0 5.0 28.8 32.5 15.0 8.8 4.59

Allows me to do my banking at a convenient time 3.8 7.5 2.5 30.0 28.8 16.3 11.3 4.66

Allows me to do my banking at a convenient place 3.8 6.3 1.3 26.3 33.8 17.5 11.3 4.78

Reduces the costs of doing my personal banking 1.3 11.3 2.5 25.0 32.5 13.8 13.8 4.73

Sometime, I think online banking takes more time than

conventional banking because I do not know how to

use it properly.

3.8 6.3 1.3 26.3 33.8 17.5 11.3 4.43

Attitude toward Benefits:

Percentage of respondents

Mean

Table 9: Attitudes toward benefits

19

Table 10 indicates the attitude towards perceived behavior which consists

of self-efficacy and facilitating condition. Starting with self-efficacy, the mean of

rating moved toward slightly agreement level which meant that attitude was slightly

positive. The respondents slightly agreed to learn new things with mean at 4.85 and

admired that their physical effect on the reading difficulty at mean 4.94. For

facilitating condition, the highest mean was 5.18 which showed the positive attitude

that they prefer the proper design and user friendly interface for online banking

services.

According to table 11, overall rating of trust/perceived security moved

toward positive attitudes. The respondents were consider to use online banking if

bank had guarantee policy in term of security, ensured the privacy to customers, and

made them trust on reliable and confidential with the mean between 5.7 to 5.9. For

the risk, the most concerning factor for respondents was the high caution while using

the system the mean of 5.98.

Strongly

DisagreeDisagree

Slightly

DisagreeNeutral

Slightly

AgreeAgree

Strongly

Agree

Self-efficacy

My mind ready and willing to learn new things

especially about technology.1.5 7.3 6.3 22.5 27.5 23.8 11.3 4.85

My physical or health condition makes reading difficult

or challenging1.3 7.5 5.0 16.3 33.8 25.0 11.3 4.94


Has a personal assistance to teach me how to use

online banking2.5 5.0 6.3 22.5 22.5 17.5 23.8 5.05

Has a IT class to teach how to use online banking 6.3 7.5 11.3 30.0 21.3 16.3 7.5 4.31

Has a proper design webpage or application to make

“easy banking for seniors”2.5 5.0 1.3 18.8 31.3 18.8 22.5 5.18

Gives an incentives such as special discount, free

voucher, promotions, etc.3.8 3.8 1.3 23.8 15.0 37.5 15.0 5.15

Attitude toward Perceived behavior:


Mean

Table 10: Attitudes toward perceived behavior

20

Referred to table 12, almost 59% of respondents had positive interest to try

online banking in condition that they have to receive information from key

influencers. While 25% of respondents insisted on reject to try using online banking

Table 12: Consideration to use online banking if receiving data from key

influencers

Consideration to use online banking if

receiving data from key influencers Frequency Percentage %

Definitely interested to try 11.0 13.8

Probably interested to try 36.0 45.0

Probably not interested to try 13.0 16.3

Definitely not interested to try 20.0 25.0

Table 13 shows that the key influencers for senior customers to adopt

online banking was family member with 53%, while, friends, industry specialist,

colleague and actor in their same age were the following key influencers for them

respectively.

Strongly

DisagreeDisagree

Slightly

DisagreeNeutral

Slightly

AgreeAgree

Strongly

Agree

Trust/ Perceived security

Have guarantee policy in term of security 1.3 1.3 2.5 11.3 15.0 20.0 48.8 5.93

Ensures the privacy of its customers 1.3 1.3 5.0 10.0 17.5 18.8 46.3 5.83

Provides reliable online banking services 1.3 1.3 5.0 8.8 18.8 15.0 50.0 5.88

Helps me to control financial matters by myself

(Confidentiality)1.3 2.5 3.8 10.0 18.8 20.0 43.8 5.78

Risk

Has a risk to me since sometimes the system errors

and that I afraid losing my money.5.0 1.3 2.5 7.5 12.5 30.0 41.3 5.76

Requires high cautions to use this services 1.3 1.3 3.8 6.3 12.5 30.0 45.0 5.98

Takes risks since use it 5.0 1.2 1.3 10.0 17.5 31.3 33.8 5.64

Loses PIN codes or password 8.8 1.3 6.3 11.3 16.3 30.0 26.3 5.20

Invades into my personal account number or

information by third party while I am using online

banking

3.7 1.3 1.3 6.3 17.5 27.5 42.5 5.84

Might tap out the information of the wrong bill 5.0 1.3 2.5 8.8 27.5 27.5 27.5 5.45

Might run out of battery or lose connection on internet

while processing the financial transaction8.8 2.5 3.8 13.8 26.3 27.5 17.5 4.99

MeanAttitude toward Opinions:


Table 11: Attitudes toward users’ opinions

21

Table 13: Key influencers

Influencer Percentage % Ranking

Family 52.5 1

Friends 37.5 2

Industry specialist 35.0 3

Colleague 37.5 4

Actor in same age 47.5 5

4.2.4 Correlation between Lifestyle & Attitude toward online banking

Before complete correlation analysis, the factor analysis was run to group

the data. Results from factor analysis based on lifestyle shows 3 groups of variables

that segment customers into 3 types. They are Impulse Purchase, Love New

Technology and Traditional Banking Preference as in Table 14 below. Customers

who like shopping online from online, trust in public information and interest in

incentive are called Impulse Purchase. Next, Love New Technology are customers

who like to try new technology and always update new information by themselves

and news. The last group or Traditional Banking Preference is the type of customers

who prefer to use to consult with real people and manage their own financial

transaction by themselves

Table 14: Factor analysis based on Lifestyle

Lifestyle Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

I like shopping online. .469 .540

I like to try new technology. .729

I always done the financial transaction by

myself

.757

I trust information from internet. .766

I trust information from specialists/gurus. .733

I trust information from people around me. .773

I interest to use online banking if they provide

some incentive such as special promotion or

discount.

.616 .458

I always seek for new information by myself .789

22

Lifestyle Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

I always update the news via television or

newspaper. .636

I love to consult to real people rather than

online consulting

.756

When I perceive complexity I would rather

find another solution than try to solve it .647

To consider whether there is any relationship between each factor of

Lifestyle and Attitude on Compatibility, correlation analysis is applied to see the

result. According to the Table 15 below, it shows that group of lifestyles and Attitude

on Compatibility correlated in the positive direction which means that Impulse

Purchase user and Love New Technology user both of these 2 groups had their

lifestyle gets along well with online banking and also perceived the benefit that online

banking make their life in trend. Meanwhile, Traditional Banking Preference user had

no lifestyle to get along well with online banking.

Table 15: Correlation between Lifestyle & Attitude on Compatibility

Compatibility Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

My lifestyle gets along

well with online

banking (Internet/

Mobile/ATM)

Pearson

Correlation .266

* .416

** .062

P-value .017 .000 .583

Interpretation Significant Significant -

Online banking makes

my lifestyle trendier.

Pearson

Correlation .301

** .353

** .177

P-value .007 .001 .116


Table 16 represents the group of lifestyles and attitude on ease of use

correlated in the positive direction for Love New Technology user which mean that

consumers perceived that to learn using online banking is easy and it was easy to get

financial transaction completed via online banking. For Impulse Purchase user, they

Table 14: Factor analysis based on Lifestyle (Continue)

23

do not perceive ease of use online banking at all. Meanwhile, Traditional Banking

Preference user perceived the benefit of ease of use online banking but to learn how to

use online banking is hard for them.

Table 16: Correlation between Lifestyle & Attitude on Perceived ease of use

Perceived ease of use Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Learning to use online

banking is easy for me'

Pearson

Correlation .057 .355

** .217

P-value .613 .001 .053

Interpretation - Significant -

It is easy to get online

banking to do what I

want to do

Pearson

Correlation -.002 .411

** .279

*

P-value .985 .000 .012

Interpretation - Significant Significant

According to table 17, the love new technology user is the only group that

has all positive with the attitude on perceived usefulness which means that to adopt

online banking the usefulness had effect to adopt online banking for this group. For

Traditional Banking Preference user, they did not perceive the benefit of usefulness of

online banking.

Table 17: Correlation between Lifestyle & Attitude on Perceived Usefulness

Perceived Usefulness Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Enables me to complete

banking transaction

quickly

Pearson

Correlation .287

** .420

** .176

P-value .010 .000 .118


Allows immediate

payment when

shopping online

Pearson

Correlation .280

* .364

** .207

P-value .012 .001 .065


Allows me to do my

banking at a convenient

time

Pearson

Correlation .330

** .349

** .138

P-value .003 .002 .223


24

Perceived Usefulness Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Allows me to do my


place

Pearson


** .102

P-value .054 .001 .367


Reduces the costs of

doing my personal

banking

Pearson


** .147

P-value .127 .007 .193


Sometime, I think

online banking takes

more time than

conventional banking

because I do not know

how to use it properly.

Pearson

Correlation .142 -.228

* -.145

P-value .208 .042 .199


Table 18 indicates that influencer have effect for Impulse Purchase user

and Love New Technology user to adopt online banking whereas influencer have no

effect for Traditional Banking Preference user.

Table 18: Correlation between Lifestyle & Attitude on Peer influencer

Peer influencer Impulse

Purchase

Love New

Technology

Traditional

Banking

Preference

Would you consider to

use online banking if

there are some

recommendation from

your influencer (ex.

Friends, Family etc.)

Pearson

Correlation -.406

** -.458

** -.008

P-value .000 .000 .941

Interpretati

on Significant Significant -

Table 19 shows the correlation between Lifestyle & Attitude on Self-

efficacy. All physical or health condition has no effect on the adoption of online

banking for every group of lifestyle. Only Love New Technology user had the

positive attitude to learn new things especially about technology.

Table 17: Correlation between Lifestyle & Attitude on Perceived Usefulness (Continue)

25

Table 19: Correlation between Lifestyle & Attitude on Self-efficacy

Self-efficacy Impulse

Purchase

Love New

Technology

Traditional

Banking

Preference

My mind ready and

willing to learn new

things especially about

technology.

Pearson


** .062

P-value .107 .000 .588

Interpretati

on - Significant -

My physical or health

condition makes reading

difficult or challenging

Pearson

Correlation -.067 -.017 .011

P-value .554 .882 .925

Interpretati

on - - -

Table 20 reports about correlation between lifestyle and attitude on

facilitation condition. The impulse purchase had positive attitude to adopt online

banking if there were a personal assistance to teach each users, a proper interface

design for senior customers and impulse incentive to motivate adoption. The proper

interface design for senior customers also offered positive attitude to Love New

Technology and Traditional Banking Preference users.

Table 20: Correlation between Lifestyle & Facilitating condition

Facilitating condition Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Has a personal

assistance to teach me

how to use online

banking

Pearson

Correlation .286

* .116 .162

P-value .010 .307 .150

Interpretation Significant - -

Has a IT class to teach

how to use online

banking

Pearson

Correlation .204 .074 .181

P-value .070 .516 .109

Interpretation - - -

Has a proper design

webpage or application

to make “easy banking

for seniors”

Pearson

Correlation .312

** .343

** .241

*

P-value .005 .002 .031

Interpretation Significant Significant Significant

Gives an incentives

such as special

discount, free voucher,

promotions, etc.

Pearson

Correlation .226

* .420

** .011

P-value .044 .000 .921


26

Table 21 presents that Trust/Perceived security was the most important factor

for Love New technology users. Then impulse purchase and Traditional Banking

Preference concerned on this factor respectively.

Table 21: Correlation between Lifestyle & Trust/Perceived security

Trust/Perceived security Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Have guarantee policy

in term of security

Pearson

Correlation .308

** .444

** .241

*

P-value .005 .000 .031

Interpretation Significant Significant Significant

Ensures the privacy of

its customers

Pearson

Correlation .286

* .445

** .212

P-value .010 .000 .059


Provides reliable

online banking

services

Pearson

Correlation .290

** .412

** .205

P-value .009 .000 .068


Helps me to control

financial matters by

myself

(Confidentiality)

Pearson


** .248

*

P-value .058 .000 .027

Interpretation - Significant Significant

Table 22 presents correlation between lifestyle & attitude on risk. Risk is

important for only Love New Technology users. They concerned about mistake

during the payment process on online transaction and admired the risk since they use

it.

Table 22: Correlation between Lifestyle & Risk

Risk Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Has a risk to me since

sometimes the system

errors and that I afraid

losing my money.

Pearson

Correlation -.031 -.252

* -.003

P-value .788 .024 .976


27

Risk Impulse

purchase

Love New

Technology

Traditional

Banking

Preference

Requires high cautions to

use this services

Pearson

Correlation -.115 -.020 .155

P-value .310 .861 .170

Interpretation 80 80 80

Takes risks since use it Pearson


** -.042

P-value .515 .005 .713


Loses PIN codes or

password

Pearson

Correlation -.099 -.160 -.206

P-value .381 .157 .067


Invades into my personal

account number or

information by third party

while I am using online

banking

Pearson

Correlation -.151 -.219 -.069

P-value .181 .051 .545


Might tap out the

information of the wrong

bill

Pearson


* -.032

P-value .216 .028 .777


Might run out of battery or

lose connection on internet

while processing the

financial transaction

Pearson

Correlation -.171 -.100 -.035

P-value .130 .377 .760


4.2.5 Consideration points to adopt online banking

To confirm the most important factor for senior consumer to consider

adopting online banking, Table 23 shows the result. The top 3 crucial points for major

respondents are risk, trust/security for system and facilitating. While the least

consideration point for respondents was compatibility.

Table22: Correlation between Lifestyle & Risk (Continue)

28

Table 23 Consideration points to adopt online banking

Consideration points to adopt online

banking Percentage % Ranking

Risk 38.8 1

Trust/Perceived security 32.5 2

Facilitating condition 26.3 3

Self-efficacy 23.8 4

Peer influencer 22.5 5

Perceived Usefulness 26.3 6

Perceived ease of use 23.8 7

Compatibility 36.3 8

29

CHAPTER 5

CONCLUSIONS AND RECOMMENDATIONS

5.1 Conclusion

The study of attitudes of senior customers who never use online banking

toward electronic channel on banking services: A study of 50-70 years old people

living in Bangkok Area has been chosen to help services providers in banking

industry to understand more on their attitude, needs, perceptions or factor that affect

consumer decision to adopt online banking services. Findings and results from the

research can be applied in actual execution. Since understanding their attitude and key

factor could develop proper strategic for this segment.

The result of the research for general information and the basic knowledge

can be summarized as follows; the majority of the potential customers are female who

has average age between 56-60 years old. Almost 37% of respondents connecting to

internet 3-5 times per day and 22% of them connecting to internet more than 5 times

per day. Currently, they use ATM (74%) and bank branch (70%) for the main channel

to complete their financial transaction and 13% of them trust in their family member

to handle this. Most of respondents has low knowledge about online banking and they

are quite willing to use online banking if there are some personal training for them.

For inactive users, the main reasons to discontinue using online banking is lack of

trust in security system and online banking is not convenience for them.

For the attitudes toward benefits of online banking which consist of

compatibility, perceived ease of use and perceived usefulness the result indicates that

overall tendency move between neutral to slightly positive as the mean are in between

3.9-4.8 from 1-7 rating scale. Moreover, the result of attitudes toward the self-efficacy

and facilitating condition are also quite slightly positive for respondents to adopt

online banking. In addition, their attitude on trust/perceived security and risk is move

to positive. Which mean that the respondents are consider to use online banking if

bank have guarantee policy in term of security, ensured the privacy to consumers, and

made them trust on reliable and confidential. Lastly, the attitude about key influencers

we found that almost 59% of respondents had positive interest to try online banking in

condition that they have to receive information from key influencers. While 25% of

respondents’ intent to reject using online banking not matter who convince them to

use online banking.

30

There are 3 factors type of potential customers derived from lifestyle

which are Impulse Purchase, Love New Technology and Traditional Banking

Preference. And these lifestyle correlate with attitude. The interesting point are as

follows, the Love New Technology users are the first priority to focus as there are

have quite positive attitude to adopt online banking. All of these groups prefer

personal assistant to teach how to use online banking more than a class room. To

motivate them adopt online banking, they need proper design webpage for senior age

and bank also should have guarantee policy in term of security.

In conclusion, the top 3 crucial points for major respondents to adopt

online banking are risk, trust/security for system and facilitating. The service provider

should prioritize developing these 3 main points for their potential customers.

5.2 Limitation

This quality of research instrument were not effective as it should be due

to time and budget limitation. Therefore the further research study can improve by

increase the size of population and sample, do not use the convenient sampling

method and the sample should not be limited to only non-users and Bangkok area.

5.3 Recommendation

Based on the results, the following recommendations can be made:

Service providers should develop the 3 main factors which are risk, trust/

security system and facilitating such as set guarantee policy, make system strong with

high security and interface user friendly design for senior users. Gives an incentives

such as special discount, free voucher and promotions to motivate potential customers

to adopt online banking. Set the personal assistant to educate and help them to use

online banking. And use key influencer which is their family member to motivate the

adoption starting with the group of people that have already use online banking.

Due to the mean of rating scale result quite indeterminate with Neutral

(from table 9, 10 and 11), therefore the recommendation could be separated into 2

directions. First, increasing the sample size to ensure and investigate more on each

factors on potential customer attitude. Second, reconsidering the important of this

segment to be other ages.

31

REFERENCES

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Retrieved from http://www.pewinternet.org/2014/04/03/older-adults-and-

technology-use/

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Mature Customers. 3rd International conference: Sciences of electronic,

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Bahman Saeidipour, H. R. (2013). Adoption of Internet banking. IOSR Journal of

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g

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Eastern Finland.

Minna Mattila, H. K. (2003). Internet Banking adoption among mature customers:

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Ram S. & Sheth, J. (1989). Consumer resistance to innovations:The marketing

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115-146.

33

APPENDICES

34

APPENDIX A

IN-DEPTH INTERVIEW QUESTIONS GUIDE

Example of In-depth interview questions

**Online banking definition is a new innovative electronic channel for financial

service that customers can make a transaction via internet (computer/ laptop device),

mobile phone or tablet via an application. The financial transaction such as statement

inquiry, deposit, bill payment, fund transfer, etc.

Section1: Screening questions

Age: between 50-70 years old

Accessibility: Has electronic tool connecting with internet such as

notebook, computer, Smartphone, tablet, etc.

Area: Live in Bangkok

Education level: bachelor degree and above

Experience: Never use online banking before or not used in the past 6

months

Section2: Behavior and basic knowledge of senior customers toward online

banking

How long have you use internet in each day? (Objective 2)

Do you know online banking? (Objective 2)

Please explain definition of online banking in your perspective (Objective

2)

Normally, do you shopping online? And have you ever used online

banking? Why or why not? (Objective 2)

Section3: Attitudes of senior customers toward online banking

Adoption (Objective 2, 4)

Why do you resist adopting online banking? (Objective 3)Any factors or

reasons?

Compatibility (Objective 2, 4)

Are you interacting with technology in routine life?

Online banking adoption is possible for you?

Online banking can improve your banking activities?

Do you prefer more simple banking relationships or efficiency?

Perceived ease of use (Objective 2, 4)

What do you think with this statement “A financial transaction can be

made conveniently via online banking anywhere anytime.”? And is online

banking fast to use?

Online banking can help you control financial matter by yourself (keep

confidentiality)

Perceived Usefulness (Objective 2, 4)

Normally, are you willing to learn or use new knowledge? (Objective 1)

35

Do you think online banking facilitate your life?

Do you think online banking services is valuable service?

Peer influencer (Objective2, 4)

Who is teaching you how to use electronic device? Your son, daughter, or

friends?

Do you believe what your family member or friends said?

Normally, are you discussing financial related issue with your family or

close friend?

Negative attitudes towards online banking

Perceived behavior

Self-efficacy (Objective1, 3)

Online banking is trendy. If you can use, you will proud?

Do you think online banking is too complicate and hard to use?

Do physical problem such as bad eyes sight affected you to use internet?

Technology facilitating condition (Objective1, 3)

Do you have knowledge of online banking and have time to involve with

it?

Do you think banks are providing sufficient information to adopt online

banking?

Opinions:

Trust (Objective1, 3)

Do you think e-transactions are secure?

Perceived security (Objective 1, 3)

Do you think e-transactions are secure?

Technology issue (Objective1, 3)

Do you like to update technology trends?

Section4: General information (profile)

Gender

Age

Education level

Occupation

Marital status

Income

36

APPENDIX B

QUESTIONNAIRE

The study of attitudes of senior customers who never use online banking toward

electronic channel on banking services: A study of 50-70 years old people living in

Bangkok Area

Master’s Degree in Marketing, Faculty of Commerce


Dear respondents

I am a graduate student from Thammasat University Masters in Marketing

Program. As part of my course requirement for MK 703 Independent Study, I am

conducting this questionnaire to study attitude of senior customers who have never

used online banking services or inactive users in age group of 50 - 70 years old and

key influencing factors for them to adopt online banking services. The results of this

survey will be analyzed for further marketing decision making.

This questionnaire is composed of 3 parts of Online Banking Services,

Customer Attitude, and Demographic Information.

The definition of Online Banking in this questionnaire is a new innovative

electronic channel for financial service that customers can make a transaction via

internet (computer/ laptop device), mobile phone or tablet via an application. The

financial transaction service such as statement inquiry, deposit, bill payment, fund

transfer, etc.

I hereby assure you that all information gathered will be confidential. (For

research and educational purpose only)

This survey will take approximately 10 minutes to complete.

Thank you for your cooperation.

37

Questionnaires: The study of attitudes of senior customers who never use online

banking toward electronic channel on banking services: A study of 50-70 years old

people living in Bangkok Area

Direction: Please put √ in front your choice the space provided

Part1: Pre-Screen Questions

1. Do you have one of these following electronic tool connecting with internet e.g.

notebook, computer, smartphone, Ipad or tablet?

□ Yes □ No

2. How often do you normally connect with internet via the electronic tool as above?

□ Less than once a week □ 2-3 times per week

□ 1-2 times per day □ 3-5 times per day

□ More than 5 times per day

3. Have you ever use internet banking in past 3 months.

□

I’ve never used it before

(Skip to no.5) □

I’ve used to use it but not anymore

(Go to no.4)

4. Please explain why you reject to use online banking services.

…………………………………………………………………………………………

5. Currently, are you living in Bangkok or Metropolitan area?

□ Yes □ No

Part 2: Basic knowledge and behavior of senior customers toward online

banking services

2.1 Please rate your knowledge about online banking via Internet

I think I

don't

know

Low

knowledge

Neutral

knowledge

High

knowledge I think I

know 1 2 3 4 5 6 7

2.2 Please rate your knowledge about online banking via Mobile Phone/Tablet

(Application)

I think I

don't

know

Low

knowledge

Neutral

knowledge

High

knowledge I think I

know 1 2 3 4 5 6 7

2.3 What kind of banking channels do you use most frequently? (You can choose

more than 1 answer)

□ Branch □ ATM □ Internet Banking

□ Mobile Banking □ Telebanking □ My family will done for me

□ Others (Please specify)

2.4 Have you ever done shopping online?

□ Yes (Go to no.2.5)

□ No (Skip to Part 3)

38

2.5 How did you pay for your online shopping transaction? (You can choose more

than 1 answer)

□ ATM □ Credit card □ Debit card

□ Bank’s branch □

Online banking

(Internet/Mobile banking) □

My family will

done for me

□

Counter Services at 7-

11 □ Others (Please specify)

Part 3: Attitudes, factors and lifestyle of senior customers toward online banking

services

Please read each of statements below and indicate your level of agreements or

disagreement as follows:

statements

Strongly

Disagree

1

Disagree

2

Slightly

Disagree

3

Neutral

4

Slightly

Agree

5

Agree

6

Strongly

Agree

7

3.1 Compatibility: I find that

My lifestyle gets along

well with online banking

(Internet/ Mobile/ATM)

Online banking makes my

lifestyle trendier.

3.2 Perceived ease of use: I find that

Learning to use online

banking is easy for me

It is easy to get online

banking to do what I want

to do

3.3 Perceived Usefulness: I think online banking would benefit to me since it…

Enables me to complete

banking transaction

quickly

Allows immediate payment

when shopping online

Allows me to do my


time

Allows me to do my


place

Reduces the costs of doing

my personal banking

Sometime, I think online

banking takes more time

than conventional banking

because I do not know how

to use it properly.

39

3.4 Peer influencer

3.4.1 Would you consider to use online banking if there are some recommendation

from your influencer (ex. Friends, Family etc.)

□ Definitely interested to try □ Probably interested to try

□ Probably not interested to try □ Definitely not interested to try

3.4.2 Please rank no.1 to5 for the most group that could influence you to use online

banking (1=Weakest influencer, 5= Strongest influencer)

Influencer Ranking

Family

Friends

Colleague

Actor in same age

Industry specialist

statements

Strongly

Disagree Disagree

Slightly

Disagree Neutral

Slightly

Agree Agree

Strongly

Agree

3.5 Self-efficacy: I find that

My mind ready and

willing to learn new things

especially about

technology.

My physical or health

condition makes reading

difficult or challenging

3.6 Facilitating condition: I would consider to use online banking IF the bank …

Has a personal assistance

to teach me how to use

online banking

Has a IT class to teach

how to use online banking

Has a proper design

webpage or application to

make “easy banking for

seniors”

Gives an incentives such

as special discount, free

voucher, promotions, etc.

3.7 Trust/Perceived security: I would consider to use online banking IF the bank …

Have guarantee policy in

term of security

Ensures the privacy of its

customers

40

statements Strongly

Disagree Disagree Slightly

Disagree Neutral Slightly

Agree Agree Strongly

Agree Provides reliable online

banking services

Helps me to control

financial matters by

myself (Confidentiality)

3.8 Risk: I think online banking would has a risk to me since it…

Has a risk to me since

sometimes the system

errors and that I afraid

losing my money.

Requires high cautions to

use this services

Takes risks since use it

Loses PIN codes or

password

Invades into my personal

account number or

information by third party

while I am using online

banking

Might tap out the

information of the wrong

bill

Might run out of battery

or lose connection on

internet while processing

the financial transaction

3.9 Lifestyle

I like shopping online.

I like to try new

technology.

I always done the

financial transaction by

myself

I trust information from

internet.


specialists/gurus.


people around me.

I interest to use online

banking if they provide

some incentive such as

special promotion or

discount.

41

statements Strongly

Disagree Disagree Slightly

Disagree Neutral Slightly

Agree Agree Strongly

Agree I always seek for new

information by myself

I always update the news

via television or

newspaper.

I love to consult to real

people rather than online

consulting

When I perceive

complexity I would rather

find another solution than

try to solve it

I am willing to use online

banking

Part 4: Consideration point to adopt online banking

Please rank no.1 to 8 for the critical consideration point for you to adopt online

banking (1=the less important reason, 8= the most important reason)

Consideration point online banking Ranking

Compatibility


Perceived Usefulness

Peer influencer

Self-efficacy


Trust/Perceived security

Risk

Part 5: Demographic Information 5.1 Gender: □ Female □ Male

5.2 Age: □ 50 years old □ 51 -55 years olds

□ 56 - 60 years old □ 61 - 65 years olds

□ 66 - 70 years olds □ 71 and up

5.3 Marriage Status: □ Single

□ Marriage

□ Divorce

□ Widow/Widower

5.4 Educational Level: □ Below Bachelor □ Bachelor

□ Above Bachelor

5.5 Occupation: □ Employee □ Government officer

□ Other

5.6 Income (baht/month) □ Less than 15,000

□ 15,001 – 30,000

□ 30,001 – 45,000

□ 45,001 – 60,000

□ 60,001 – 75,000

□ More than 75,000

42

BIOGRAPHY

Name Ms. Varanporn Chantrathada

Date of Birth April 20, 1987

Educational Attainment

Bachelor of Accounting (B.Acc.)


Work Position Online Marketing at Kiatnakin Phatra Financial

Group

Work Experiences 2014- Present: Assistant Online Marketing

Kiatnakin Phatra Financial Group

2012-2014: Senior People Passion

KPMG Phoomchai Audit Co.,Ltd

2009-2012: Senior Auditor

KPMG Phoomchai Audit Co.,Ltd

Documents

A STUDY OF ATTITUDES OF POTENTIAL SENIOR CUSTOMERS …