The Impact of Internet Banking on Thai Consumer Perception

In retail banking, the internet has allowed banks to offer information and services to customers at their convenience, and many Thai banks are following worldwide trends in implementing internet banking. Banks which offer this channel claim that it reduces costs and makes them more competitive. However, the majority of retail customers are not highly enthusiastic about internet banking. In-depth qualitative interviews with a small sample of Thai consumers suggest that while security is a major factor inhibiting wider adoption, it is not necessarily the key distinguishing factor in who will adopt versus who will not. Users seem to be more time and cost conscious, and especially value convenience. Non-users are much more service conscious, and do not like the self-service of the internet. However, the cumbersome process of setting up an internet account discourages many, and the difficult process of correcting problems reduces usage even among some who use the internet for transactions.