Abstract:
The adoption on internet banking has remained sluggish despite the efforts by banks to promote
the technology. The purpose of the research project was to identify the factors that affect the
adoption of internet banking in a bid to construct ways to salvage the situation. The research
focused on intellectuals who better understand technology than the general public. Data was
collected using questionnaires and interviews from the population of 5000 students and academic
staff at Chinhoyi University of Technology. A sample of 450 students and staff were selected
from the population. The research identified various factors that impose barriers and enhance
adoption of internet banking. Chief among these were compromised security of transactions and
marketing exposure. It also unearthed the impact of demographic on internet banking adoption.
Two hypotheses were tested, the first one which was meant to determine if there exist any
relationship between age and internet banking adoption. It was concluded that there is a negative
relationship between age and internet banking adoption. The second hypothesis assumed an
association between internet banking and level of education. Education was deemed a
prerequisite in enhancing the smooth adoption of internet banking and hence one should have a
significant level of education to take up the technology. In waging a protracted war against low
levels of internet banking adoption the research concluded banks should rather concentrate in
promoting the product (internet banking). Bank should also institute measures to guarantee the
security of transactions to internet bank users as this remains the stumbling block to many
potential customers
