Why do customers value m-banking apps? A stimulus-organism-response perspective

Purpose Integrating the theory of consumption value into the stimulus-organism-response framework, this study aims to analyse the influence of external and internal factors on the customers’ perceptions of utilitarian, hedonic, social and epistemic values as drivers of the overall perceived value and customers’ continuance use of mobile banking (m-banking). Design/methodology/approach An online survey was conducted with 252 actual m-banking users, and the partial least squares structural equations modelling was applied to analyse the data. Findings The results reveal that ubiquity and gamification positively influence the perceived usefulness and entertainment, that is the utilitarian and hedonic perceived values. Furthermore, users’ self-congruence and innovativeness affect subjective norms and novelty-seeking, representing social and epistemic values. Except for the hedonic value, each value element impacts the overall perceived value, which in turn incites clients’ intention to continue using m-banking services. Originality/value By exploring the simultaneous effect of service-related and personal factors (stimuli) on different elements of perceived value (organism), this study contributes to the existing knowledge of consumption reactions (response) in the context of m-banking. The research of the Macedonian m-banking offers a closer insight into Western Balkan mobile commerce.