Analysis Of Factors That Influence Interest In Using Mobile Banking In Micro And Small Businesses In The Center Of The Medan City Market

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Analysis of Factors that Influence Interest in Using Mobile Banking in Micro and Small Businesses in the Center of the Medan City Market

Introduction

The rapid development of digital technology has revolutionized the business landscape, including in the micro and small business sector (UMK). One of the most popular innovations in this sector is mobile banking, which offers ease and efficiency in financial management. Mobile banking has become an essential tool for businesses to manage their finances, make transactions, and access various financial services. However, the adoption of mobile banking among UMK actors in the Medan City Market Center is still limited. This study aims to analyze the factors that influence the interest of UMK actors in using mobile banking in the Medan City Market Center.

Background

The Medan City Market Center is one of the largest markets in Indonesia, with a high concentration of micro and small businesses. The market is a hub for various products and services, including food, clothing, and household items. Despite the growing demand for digital payment methods, many UMK actors in the market still rely on traditional payment methods, such as cash and bank transfers. The lack of adoption of mobile banking among UMK actors in the market is a significant challenge, as it limits their access to financial services and hinders their ability to manage their finances efficiently.

Methodology

This study uses a quantitative method with an associative approach to analyze the factors that influence the interest of UMK actors in using mobile banking. The study involves 96 business actors as a sample, who were selected through a random sampling method. The analysis technique used is multiple linear regression, which allows us to examine the relationship between the independent variables (income, consumer tastes, and expectations of business actors) and the dependent variable (interest in using mobile banking).

Results

The results of this study show that income has no significant effect on interest in using mobile banking. This indicates that business actors' income is not a major factor in their decision to use mobile banking. However, consumer tastes and expectations of business actors have a significant positive influence on interest in using mobile banking. This means that UMK actors who see a request from consumers for digital payment methods, such as through mobile banking, will tend to adopt them. Additionally, business actors who have positive expectations of the ease, security, and efficiency of mobile banking tend to be more interested in using it.

Discussion

The results of this study provide several important points to understand:

  • The importance of adaptation to market trends: UMK actors need to be sensitive to changes in market trends, especially related to digital payment methods. This requires them to be aware of the needs and preferences of their customers and to adapt their business strategies accordingly.
  • Important Role of Education and Promotion: Effective education and promotions are needed to increase the adoption of mobile banking among UMK actors. This can be achieved through various channels, such as workshops, training sessions, and online campaigns.
  • Development of features as needed: Mobile banking application developers need to pay attention to the specific needs of UMK actors so that the services are more attractive and easy to use. This requires them to conduct regular market research and to gather feedback from their customers.

Conclusion

Interest in using mobile banking in micro and small businesses in the Medan City market center is influenced by consumer tastes and expectations of business actors. The development of the right strategy to increase education, promotion, and adjustment of mobile banking application features has the potential to increase mobile banking adoption among businesses in Medan and other regions in Indonesia. This study provides valuable insights for policymakers, mobile banking application developers, and UMK actors to improve the adoption of mobile banking in the Medan City Market Center.

Recommendations

Based on the findings of this study, the following recommendations are made:

  • Increase education and promotion: Effective education and promotions are needed to increase the adoption of mobile banking among UMK actors. This can be achieved through various channels, such as workshops, training sessions, and online campaigns.
  • Develop features as needed: Mobile banking application developers need to pay attention to the specific needs of UMK actors so that the services are more attractive and easy to use.
  • Improve accessibility: Mobile banking application developers need to improve the accessibility of their services, including the ease of use and the availability of features.
  • Conduct regular market research: Mobile banking application developers need to conduct regular market research to gather feedback from their customers and to improve their services.

Limitations

This study has several limitations, including:

  • Sample size: The sample size of this study is relatively small, which may limit the generalizability of the findings.
  • Sampling method: The sampling method used in this study is random sampling, which may not be representative of the entire population of UMK actors in the Medan City Market Center.
  • Data collection method: The data collection method used in this study is self-reported, which may be subject to biases and errors.

Future Research Directions

This study provides several avenues for future research, including:

  • Investigating the impact of mobile banking on business performance: This study can investigate the impact of mobile banking on business performance, including revenue, profitability, and customer satisfaction.
  • Examining the role of mobile banking in improving financial inclusion: This study can examine the role of mobile banking in improving financial inclusion, including access to financial services and financial literacy.
  • Developing a mobile banking adoption model: This study can develop a mobile banking adoption model that takes into account the factors that influence the adoption of mobile banking among UMK actors.
    Q&A: Factors that Influence Interest in Using Mobile Banking in Micro and Small Businesses in the Center of the Medan City Market

Introduction

In our previous article, we discussed the factors that influence interest in using mobile banking in micro and small businesses in the center of the Medan City Market. In this article, we will answer some of the most frequently asked questions related to this topic.

Q: What are the main factors that influence interest in using mobile banking in micro and small businesses?

A: The main factors that influence interest in using mobile banking in micro and small businesses are consumer tastes and expectations of business actors. Consumer tastes refer to the preferences and needs of customers, while expectations of business actors refer to their perceptions of the benefits and ease of use of mobile banking.

Q: Why is income not a significant factor in influencing interest in using mobile banking?

A: Income is not a significant factor in influencing interest in using mobile banking because business actors' income is not a major factor in their decision to use mobile banking. Other factors, such as ease of access, security, and features offered by mobile banking, are more dominant.

Q: What is the importance of adaptation to market trends in using mobile banking?

A: Adaptation to market trends is crucial in using mobile banking because it allows business actors to be sensitive to changes in market trends, especially related to digital payment methods. This requires them to be aware of the needs and preferences of their customers and to adapt their business strategies accordingly.

Q: What is the role of education and promotion in increasing adoption of mobile banking?

A: Education and promotion play a vital role in increasing adoption of mobile banking. Effective education and promotions are needed to increase the adoption of mobile banking among business actors. This can be achieved through various channels, such as workshops, training sessions, and online campaigns.

Q: How can mobile banking application developers improve the adoption of mobile banking?

A: Mobile banking application developers can improve the adoption of mobile banking by paying attention to the specific needs of business actors and developing features that are more attractive and easy to use. They can also conduct regular market research to gather feedback from their customers and improve their services.

Q: What are the limitations of this study?

A: This study has several limitations, including a relatively small sample size, a random sampling method, and a self-reported data collection method. These limitations may limit the generalizability of the findings.

Q: What are the future research directions for this study?

A: This study provides several avenues for future research, including investigating the impact of mobile banking on business performance, examining the role of mobile banking in improving financial inclusion, and developing a mobile banking adoption model.

Q: What are the implications of this study for policymakers and mobile banking application developers?

A: This study has several implications for policymakers and mobile banking application developers. Policymakers can use the findings of this study to develop policies that promote the adoption of mobile banking among business actors. Mobile banking application developers can use the findings of this study to improve the adoption of mobile banking by developing features that are more attractive and easy to use.

Conclusion

In conclusion, this Q&A article provides answers to some of the most frequently asked questions related to the factors that influence interest in using mobile banking in micro and small businesses in the center of the Medan City Market. The findings of this study have several implications for policymakers and mobile banking application developers, and provide several avenues for future research.