Mature Australian consumers' adoption and consumption of self-service banking technologies

Abstract

The slow diffusion of self-service banking technologies (SSBTs) into the mature consumer market necessitates research to better understand this growing section of the population and the diversity that exists within this market. This research analyses the 50+ market through a segmentation approach based on the level of use of SSBTs. Three segments were identified: non-users, low users and medium-to-high users of SSBTs, and are profiled by frequency of use and demographic variables. Members of the medium-to-high user segment embrace a range of SSBTs and use credit card to facilitate their financial activities. Non-users and some low users prefer the customary way of conducting transactions and enjoy the personal interaction with the bank employee. These two segments do, however, have a moderate level of credit card use. Finally, a low level of replacement and disenchantment discontinuance was evident among the participants in this study.