Explaining Internet Banking Behavior: Theory of Reasoned Action, Theory of Planned Behavior, or Technology Acceptance Model?

A key objective of information technology (IT) research is to assess the value of technology for users and to understand the factors that determine this value in order to deploy IT resources better. This paper uses structural equation modeling to ascertain the extent to which 3 popular models of users' behavior—theory of reasoned action (TRA), theory of planned behavior (TPB), and technology acceptance model (TAM)—are predictive of consumers' behavior in the context of Internet banking. Unlike other tests of these models, this paper employs independent measures of actual behavior, as well as behavioral intention. The results indicate that TAM is superior to the other models and highlights the importance of trust in understanding Internet banking behavior.