The Effect of Perceived Security Risks on Mobile Banking Adoption in Fashion Retail Industry. A Case Study of Mwanza Region, Tanzania

Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 12

Abstract

The adoption of mobile banking among fashion retailers is increasingly recognized as a powerful catalyst for economic empowerment and financial inclusion. It reduces reliance on traditional banking methods, allowing consumers and suppliers to engage in transactions without the constraints of banking hours or physical locations. This flexibility enables online transactions to occur anytime and anywhere, fostering a more dynamic and responsive shopping environment. However, its adoption is very limited in fashion industry. This study was set to explore security issues that affect adoption of mobile banking by fashion retailers in Mwanza municipal councils. The study is grounded on perceived risk theory which explain how individuals assess risk and make decisions under uncertainty. The data for this study were collected using a close-ended questionnaire distributed to a sample of 200 respondents, who were selected through a simple random sampling technique. The study employed a combination of content analysis and binary logistic regression analysis as its analytical approach. The study revealed a negative effect of fraud, phishing attacks, and transaction errors on the adoption of mobile banking, while highlighting the positive influence of security literacy in encouraging this adoption. The study concluded that that mobile banking service providers should implement comprehensive user education programs focused on security best practices, including the importance of strong passwords and awareness of phishing schemes. Additionally, enhancing authentication methods and establishing robust transaction error resolution processes that can mitigate risks and foster greater trust in mobile banking among fashion retailers.

Authors and Affiliations

Albert Moshi

Keywords

Related Articles

Administrative Governance and its Role in Institutional Excellence Case Study - King Khalid University of Saudi Arabia

The study aimed to identify the reality of administrative governance and its role in achieving institutional excellence from the point of view of the teaching staff and employees at the Applied College for King Khalid Un...

Effect of Leverage and Free Cash Flow on Earnings Management with an Independent Audit Committee as a Moderation

This study aims to examine the Effect of Leverage and Free Cash Flow on Earnings Management with the Independent Audit Committee as a Moderating Variable. The samples used were manufacturing companies in the basic and ch...

Management – Re-Defined - A Step Forward Towards Modern Management Philosophy

Mind is very restless, forceful and strong, O Krishna, it is more difficult to control the mind than to control the wind. ~ Arjuna to Sri Krishna- Bhagavad Gita Management is a process of aligning people and getting th...

The Role of Organizational Commitments in Improving Managerial Performance Affected by Budgeting Participation

This study aims to examine the effect of Participation in Budgeting on Managerial Performance and the effect of Participation in Budgeting on Managerial Performance through Organizational Commitment as a moderating varia...

Knowledge as a Source of Innovation for Entrepreneurial Firms

Knowledge is perceived as critical sources to non-technological and technological entrepreneurial firms in commercializing products and services. Knowledge-based view highlights that the diverse knowledge bases within f...

Download PDF file
  • EP ID EP752986
  • DOI 10.47191/jefms/v7-i12-28
  • Views 14
  • Downloads 1

How To Cite

Albert Moshi (2024). The Effect of Perceived Security Risks on Mobile Banking Adoption in Fashion Retail Industry. A Case Study of Mwanza Region, Tanzania. Journal of Economics, Finance and Management Studies, 7(12), -. https://europub.co.uk/articles/-A-752986