Abstract:
The swift evolution of digital banking has altered the landscape of financial services; however, it is essential to comprehend the elements that impact individuals’ transitions from first-time adoption to regular use of mobile banking, particularly in developing countries like Pakistan. This research examines the factors influencing mobile banking use by extending the Unified Theory of Acceptance and Use of Technology (UTAUT2) with additional elements, such as self-efficacy and status gain, to provide a clearer understanding of user frequencies and behaviors. A quantitative research methodology was utilized, and primary data were gathered through a structured questionnaire employing a five-point Likert scale. The study focused on mobile banking users in Islamabad and Rawalpindi, Pakistan, using a non-probability convenience sampling method. The data collected were analyzed with the help of the Statistical Package for Social Sciences (SPSS). Reliability was evaluated using Cronbach’s alpha, followed by descriptive statistics, correlation analysis, and multiple regression analysis to validate the proposed hypotheses. The results demonstrate that performance expectancy, hedonic expectancy, habit, self-efficacy, and status gain significantly positively influence the frequency to utilize mobile banking services, while other factors demonstrate varying degrees of impact. The findings highlight the significance of both functional and psychological aspects in determining frequent mobile banking usage. This research adds to the existing body of literature by offering empirical insights from Pakistan and by broadening the UTAUT2 model with context-specific variables. The results provide actionable suggestions for banks, policymakers, and fintech developers, highlighting the necessity to boost user confidence, perceived usefulness, and experiential value to foster ongoing adoption of mobile banking. This study has specific limitations despite its contributions. The research utilizes a cross-sectional approach and a convenience sampling method, which may hinder the applicability of the results beyond the chosen areas of Islamabad and Rawalpindi. Future studies could overcome these limitations by adopting longitudinal methodologies, utilizing probability sampling methods, and involving larger sample sizes from a variety of geographic areas to strengthen the validity and applicability of the findings
