Technological and Cognitive Factors Explaining Mobile Banking Use Among Older Adults, Piura 2026

Abstract

Despite the global expansion of mobile banking, older adults remain largely excluded from digital financial services, particularly in intermediate cities of developing countries. This study set out to identify which technological and cognitive factors drive mobile banking adoption among older adults in Piura, Peru. Drawing on the extended Technology Acceptance Model and UTAUT2, a quantitative, cross-sectional, explanatory design was implemented. A probabilistic sample of 384 adults aged 60 and over completed a 24-item Likert-scale questionnaire covering accessibility, usability, perceived security, digital self-efficacy, perceived usefulness, and perceived ease of use. Four hierarchical regression models were estimated, controlling for age, education, and prior digital experience. Technological factors alone accounted for 44.1 % of the variance in mobile banking use (R2 = .441), cognitive factors for 39.9 % (R2 = .399), and the integrated model for 56.2 % (R2 = .562). When sociodemographic controls were added, R2 reached .599. Usability (β = .333), digital self-efficacy (β = .208), and perceived security (β = .188) emerged as the strongest predictors, while accessibility lost significance in the full model. These findings offer actionable evidence for financial institutions and policymakers seeking to reduce the digital divide among older populations in Latin American cities