Factors Influencing Middle-Aged and Older Adults’ Intention to Use Mobile Banking Applications from an Age-Friendly Perspective: An Empirical Analysis based on the Technology Acceptance Model

Abstract

As banking services increasingly shift from physical branches to mobile applications, users are expected to manage routine financial tasks through self-operated digital interfaces, while population aging has increased the need to examine whether mobile banking applications are accessible to older user groups. For many middle-aged and older adults, mobile banking use remains difficult because transaction procedures, security warnings, authentication steps, and unfamiliar interface designs may create both operational burden and psychological uncertainty. This study investigates how middle-aged and older adults form intentions to use mobile banking by adapting the Technology Acceptance Model to an age-friendly service context and incorporating perceived risk, digital literacy, intergenerational support, age group, and education level. The empirical analysis was based on 552 valid questionnaire responses. The survey data were analyzed using a staged approach that assessed measurement quality, explored latent factor patterns, tested variable associations, built regression models, and examined mediation and moderation mechanisms. Exploratory factor analysis revealed an overlap between several perceived usefulness items and behavioral intention items. Accordingly, the later empirical analysis used perceived efficiency benefits as the main observable dimension of the usefulness-related construct. Respondents reported a generally strong willingness to use mobile banking, particularly when the applications were perceived as helpful in shortening waiting time, reducing visits to offline branches, and completing routine financial tasks more efficiently. The empirical findings show that ease of operation and efficiency-related value are important drivers of mobile banking use intention. Middle-aged and older adults are more inclined to adopt such services when the interface is understandable, the procedures are easy to follow, and the application offers observable improvements in service efficiency. Digital literacy and intergenerational support also play supportive roles by increasing users’ confidence and providing help with registration, operation, and problem-solving. The correlation results show that higher risk concerns correspond to lower willingness to use mobile banking; however, this effect becomes less consistent once the model controls for other predictors. The mediation tests further suggest two mechanisms: perceived efficiency benefits may increase intention partly by lowering perceived risk, and digital literacy serves as an important pathway through which ease of use is translated into stronger usage intention. No significant moderating role was found for intergenerational support, digital literacy, age group, or education level in the link between perceived risk and usage intention. These findings imply that banks should combine product-level optimization with service-level support, such as clearer interface layouts, simplified transaction processes, stronger guidance on frequently used functions, digital-literacy assistance, and cooperative support involving both family members and banking staff.