Influence of Demographic Profile on Perceived Security and level of adoption of Internet Banking in a developing country: An Empirical Study

Abstract Internet Banking is becoming an important channel for banks to deliver banking services to their customers. The proponents of Internet banking believe that it offers convenience to customers and enhanced efficiency to bankers. While the Internet technology holds the potential to fundamentally change banks and the banking industry, it is still haunted by low rate of adoption by bank customers due to perceived risks in transacting in the virtual environment of Internet. The study examines the influence of demographic variables age, gender, educational level, occupation and monthly income on the level of adoption of Internet banking. The paper builds on existing literature on the importance of security as perceived by the users towards adoption of internet banking.