Journal of Education & Social Policy

Mobile Financial Technology and Consumers’ Financial Capability in the United States
Jeong Hee Yeo, Ph.D; Patti J. Fisher, Ph.D.

Abstract
Consumers are increasingly adopting mobile financial services such as banking services, bill payments, and cash management. We investigate the adoption and use of mobile financial services as well as their relationship with consumers’ financial capability. Researchers have explored the use of mobile services in the technology and business literature, but little academic attention has been paid to the applications and consequences of mobile services from consumers’ viewpoint. This study uses data collected through an online national survey (N=1,497)in October 2012.The results show that perceived behavioral control, subjective norms, and perceived usefulness are important in explaining the adoption of mobile financial services. More frequent use of mobile financial services is associated with a higher level of financial capability.

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