The widespread use of smartphones in Thailand has led more consumers to conduct financial transactions and other banking activities on their mobile devices. However, consumer trust plays an important role in the development of long-term relationships in online environment between banks and its customers. Therefore, the purpose of this research was to identify the degree in which several influencing factors that affects trust of Thai consumers in mobile banking. A sample was selected from 336 cases were included as a sample by using purposive sampling method. The factors under this study include integrity, competence, benevolence, shared values, and security. Multiple Liner Regression was used for data analysis and quantitative method was applied in this research by conducting the questionnaire survey. The findings indicated that security is the most critical factor that affects customer trust in mobile banking followed by shared values and integrity respectively. However, competence and benevolence do not affect the level of Thai customers’ trust in mobile banking with statistical significance at 0.05 level. Banks should provide service by highlight improving security in order to enhance trust of their customers and increase usage of mobile banking.

INTRODUCTION

Recent developments in information technology has a positive effect on human lifestyles especially those improvements in the field of the service industry including banks. It has experienced significantly change the traditional ways of interaction in which banks operate their businesses and customers conduct their banking transaction [1]-[2]. Therefore, Banks continuously organized innovative banking services to satisfy customer expectations and demands by shifting the form of traditional banking branch transactions to electronic banking such as Automated Teller Machines (ATM), internet banking and more recently mobile banking [3]. Mobile banking is considered to be the latest banking service with flexibility and mobility in completing financial transactions through mobile devices [4]. With a substantial growth in the numbers of mobile device users resulted in the increasing of sale volume in mobile devices such as smartphones and tablets in every year, it has led more consumers to conduct their transactions on mobile devices. Mobile banking is a mobile payment and commerce application which allows customers to access financial service through smartphone to conduct a wide range of financial transactions and has direct access to their banking account [5]. These provided advantages to both banks and customers. Customers are offered more convenient service by providing them an opportunity to access banking facilities anywhere and anytime, whereas internet is available with faster and lower costs comparing to the use of traditional bank [6]. In other word, customers do not need to go to bank branches to conduct their everyday banking activities. In terms of banking, mobile banking has brought in improved service quality and service delivery within the banking sector with a decreases of the transaction cost [7].