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Not all elderly are the same: Not all elderly

are the same
fostering trust through mobile
banking service experience
Lova Rajaobelina 85
Marketing, Universit
e du Qu
ebec a Montr
eal, Montr
eal, Canada
Received 27 May 2020
Isabelle Brun Revised 16 September 2020
Administration, Universit
e de Moncton, Moncton, Canada 16 October 2020
Accepted 16 October 2020
Ricard Line


Marketing, Ecole des sciences de la gestion UQAM, Montr
eal, Canada, and
Christina Cloutier-Bilodeau
Marketing, Universit
e du Qu
ebec a Montr
eal, Montr
eal, Canada

Abstract
Purpose – This study seeks to examine the impact of mobile service experience on trust of elderly consumers
in their financial institution and assess whether age (55–64 years vs 65þ years) exerts a moderating influence.
Design/methodology/approach – A self-administered questionnaire was completed online by 390 panelists
(aged 55 years or more) who use their mobile devices to conduct banking activities. A multigroup analysis was
conducted to assess the moderating role of age.
Findings – Results confirm the presence of links between four out of five dimensions of the mobile banking
service experience (cognitive, positive affective/sensory, negative affective and social) and trust. Findings
further point to age-specific variation in the impact of mobile service experience dimensions on trust, thus
supporting the notion that the elderly represents a clientele with different experiential needs. More specifically,
whereas the social dimension has a greater influence on trust in individuals 65 years of age and over (seniors),
the positive affective/sensory dimension exerts a deeper marked impact on trust in individuals 55–64 years of
age (pre-retirees).
Research limitations/implications – Although generations and chronological age are powerful
segmentation variables, it might be interesting to consider perceived age. Redoing the study in a post-
COVID context would also be an interesting avenue of research.
Practical implications – The ageing market is important for banks. This study highlights, in an m-banking
context, which dimension of experience to focus on in order to improve trust in banks for pre-retirees
(emotional/sensory dimension) and seniors (social dimension).
Originality/value – This study is the first to consider mobile service experience of elderly individuals as well
as the impact of each of the experience dimensions on an important relational variable, namely trust. By
considering the age of individuals as a moderating variable, this study also provides an in-depth examination
of age-related links and presents a number of relevant recommendations for financial institutions.
Keywords Trust, Relationship marketing, Mobile phone, Customer experience, Elderly consumers, Financial
institutions, Banks
Paper type Research paper

Introduction
“So who’s the next generation of banking customers? The real question is: Who will have new
and different banking needs that the industry will have to design and redesign products and
services for? The answer is Baby Boomers” (Shevlin, 2020). That said, how are these older
consumers experiencing the ever-changing landscape of banking services? Service providers,
including financial institutions, have been profoundly impacted by technological advances International Journal of Bank
Marketing
Vol. 39 No. 1, 2021
pp. 85-106
The authors wish to thank the Fintech Research Chair AMF-Finance Montreal of the Universit
e du © Emerald Publishing Limited
0265-2323
Qu
ebec a Montr
eal for their financial contributions to this project. DOI 10.1108/IJBM-05-2020-0288
IJBM and the emergence of new tools and ways of communicating and interacting with different
39,1 consumer bases (Kunz et al., 2019). Indeed, the use of mobile applications and smartphones is
fast becoming commonplace, reflecting an expanding trend in twenty-first century lifestyles
(Alavi and Ahuja, 2016). In terms of consumer behaviour, the mobile realm has completely
altered how individuals behave and hugely impacted how they go about their daily routine
(Grewal et al., 2020). In doing so, it has opened the way for the upsurge of services such as
mobile banking (m-banking) (Berraies et al., 2017; Chaouali et al., 2017). In 2020, the world
86 boasts some 3 billion mobile users (eMarketer, 2020a, b). This includes users from older
populations whose growing penetration rate is not negligible case in point: in 2018, 27.6% of
US baby boomers who own mobile devices used mobile banking services, which is expected
to rise to 30.3% in 2021 (eMarketer, 2017). Nonetheless, researchers find that elderly clients
attach a higher level of risk to mobile technology than their younger peers (Laukkanen et al.,
2007), rendering trust crucial especially since older individuals are more loyal (Patterson,
2007) and are more inclined to pay more for brands that inspire trust in them (Swimberghe
et al., 2018).
Indeed, trust, which is known to reduce consumer uncertainty and feelings of
vulnerability, has stood out as one of the most important concepts in relationship
marketing literature in recent years (Garry and Harwood, 2019; Kim and Peterson, 2017; Poon
and Albaum, 2019). Research shows that trust is not only more important to elderly segments
of the population but also differs from that of their younger counterparts (Parment, 2013). For
elderly consumers, trust is more important in an e-commerce context since they are not as
comfortable with self-service technology (Dean, 2008). Indeed, issues of security surrounding
the adoption of innovative technology figure among the leading concerns of seniors (Vassli
and Farshchian, 2018). More readily aware of possible Web-based fraud and abuse, elderly
consumers view online purchasing with greater scepticism and approach the purchase
process with a lesser degree of trust (Leppel and McCloskey, 2011). For these reasons, it is
shown that elderly consumers are less likely to prefer mobile banking services compared with
individuals of younger generations (Harris et al., 2016); however, the number of older users
has increased and continues to grow. Financial institutions must therefore develop strategies
that will enhance this ageing population’s trust if they are to succeed in expanding the mobile
market for older generations and develop relational ties with them in this recent and rapidly
expanding digital economy.
Another concept that has garnered considerable academic and managerial attention
(Izogo and Jayawardhena, 2018; Mahret al., 2019), given its perceptible impact on trust, is
customer experience (Brakus et al., 2009; Dwivedi et al., 2018; Roozen and Katidis, 2019; Xie
et al., 2017). Accordingly, experience has become a cornerstone for understanding consumer
behaviour (Addis and Holbrook, 2001), given that it is one of its key drivers (Izogo and
Jayawardhena, 2018). Customer experience presents a wealth of opportunities for businesses
seeking to differentiate themselves from their competitors (Roozen and Katidis, 2019),
especially given that it is multidimensional in nature (sensory, affective, cognitive,
behavioural and social) (Schmitt, 1999). Indeed, customer experience is coveted by elderly
consumers who often seek out unique, memorable experiences (Hudson, 2010) that are
interesting (Gallouj et al., 2010; Myers and Lumbers, 2008). As few studies focusing on elderly
consumers explore the all-important concepts of experience and trust in a mobile context, a
number of questions come to the fore: How do elderly customers experience service in
technology-rich environments, the mobile banking services in particular? Do they seek out
particular experiences (e.g. social, cognitive, emotional) when interacting with financial
institutions via their mobile devices? If so, what impact do these experiences exert on the
levels of trust that they associate with their financial institution? Do all elderly consumers
experience mobile banking services and develop trust in essentially the same manner? Does
this change over time? If so, which aspects become more or less relevant?
 In the financial sector, age remains an interesting segmentation variable (Guido et al., 2018). Not all elderly
Although the majority of studies group older individuals into a single category (e.g. Harris et al., are the same
2016; Kumar and Lim, 2008; Yang and Jolly, 2008), differences within this population segment
(Chaouali and Souiden, 2019; Mattila et al., 2003) warrant a more discriminating approach. This
study therefore seeks to examine the impact of mobile service experience on the trust of elderly
consumers in their financial institution and to assess whether age (55–64 years vs 65þ years)
exerts a moderating influence. These two senior groups were selected taking into consideration
the particularities of the field (where retirement is considered at age 65) as well as the literature 87
review (CEFRIO, 2018; Williams and Drolet, 2005; Jahn et al., 2012), which show case differences
between them. Indeed, 80% of Americans between the ages of 50–64 use mobile phones, a
figure which contrasts to 54.1% of individuals 65 years of age and older (eMarketer, 2020a, b).
Also, CEFRIO (2018) distinguishes between “The Youngest Baby Boomers” – 55 to 64 years old
and “The Oldest Baby Boomers and their Parents” – 65 years old and over in terms of online
behaviours (e.g. lower day-to-day Internet use and online access to bank accounts for 65 years
old and over).
This research is warranted given that academic research has neglected elderly consumers’
needs and motivations regarding mobile services (Yang and Lin, 2019). Indeed, it is
increasingly important to understand how customers experience value in services such as
mobile banking (Komulainen and Saraniemi, 2019). The findings also contribute to topical
literature as the study is one of only a few to examine experience – including the inherent
dimensions thereof – in a mobile context, and the first to specifically target mobile service
experience in elderly consumers. Indeed, “older consumers are a potentially complex target
for marketing as they express a wide range of identities” (Szmigin and Carrigan, 2006, p. 22).
Also, they deserve attention considering the magnitude and importance of their demographic
(Kohijoki and Marjanen, 2013) and their notable economic and purchasing power (Baek, 2019;
Hudson, 2010; Myers and Lumbers, 2008). Nonetheless, Jacobson et al. (2017) add that silver
surfers, namely older users riding the digital wave, are opening up intriguing avenues of
research into their experiences and beliefs. In short, mobile services managers must make
allowance for this group of consumers – whose expectations are high (Hudson, 2010) – and
understand their perceptions (Kumar and Lim, 2008).
In the upcoming sections, the authors present a literature review and hypothesis model,
followed by an outline of the methodology used. They subsequently substantiate findings in
the discussion and detail limitations and avenues for future research in the conclusion.

Literature review and hypothesis model

Elderly consumers and mobile services
Today’s society is characterized by an ageing population (Sudbury-Riley et al., 2015), with
seniors expected to account for 30% of the general population by 2030 (Gallouj et al., 2010)
and outnumber children under the age of 10 (1.41 billion versus 1.35 billion) by the same year
(United Nations, 2017). However, studies relating to the greying population in consumer
behaviour are underrepresented and remain few and far between (Moal-Ulvoas and Taylor,
2014; Sudbury-Riley et al., 2015). Age is often used as a segmentation variable but rarely
considered when evaluating motivation and consumption patterns (Parment, 2013). Research
into “how adoption of Internet-enabled mobile phones (i.e. smartphones) has taken shape
across different segments of the population, and how this is changing over time, is only just
emerging” (Jacobson et al., 2017, p. 332). Indeed, when one examines variations in the use of
technology by age group, findings from previous research point to the existence of a negative
relationship which can perhaps be explained by the fact that older individuals tend to be more
averse to change (Laukkanen et al., 2007). As true as this might be, the alleged gap would
appear to be diminishing in magnitude. Today’s elderly consumers are experienced in the use
IJBM of different technologies (SMS, Internet) and cannot be qualified as anxious in the face of
39,1 technology (Fregolente et al., 2019). While they might find it more challenging to use mobile
technologies than their younger counterparts and do not use them as much for purchases,
they perceive them as useful (Dorie and Loranger, 2020). Not only is the penetration rate for
mobile device use relatively high, but also elderly consumers use their mobile devices for
different activities. Nearly two out of three Americans over the age of 50 who own a mobile
device (64%) have used the latter to browse the Web, while over a third (35%) have made
88 purchases via their mobile device (eMarketer, 2018b). Near half (48.1%) of Americans over the
age of 55 have used mobile banking (eMarketer, 2019b).
At the current juncture, there exists no consensus on the age at which an individual
qualifies as a senior (Kohijoki and Marjanen, 2013). Some authors (e.g. Chaouli and Souiden,
2019; Moschis, 2003) define elderly consumers as individuals 55 years of age and over. Others
(e.g. Kohijoki, 2011; Peterson, 2001) define them as individuals 65 years of age and over.
Gallouj et al. (2010) point to the existence of three main groups by combining chronological
age and lifestyle: pre-retirees (55–64 years); younger seniors (65–74 years) and older seniors
(75 and over). Baby boomers of the generation born between 1946 and 1964 (Kumar and Lim,
2008) now rank as seniors as the individuals of this generation currently range in age from 54
to 72 years.
Hence the importance of underscoring that elderly consumers do not represent a
homogeneous segment of the market. As some researchers have found heterogeneity within
generational cohorts, sub-segmentation may be required to fully understand consumer
behaviour patterns (Arenas-Gait
an et al., 2019; Dorie and Loranger, 2020, in e-banking).
Hence, despite the number of studies which group together the more senior segments of the
population (e.g. Harris et al., 2016; Kumar and Lim, 2008; Yang and Jolly, 2008), others
demonstrate an interest in investigating existing differences. Williams and Drolet (2005)
substantiate that individuals 65 years of age and over are more closely in touch with their
emotions than persons in the 50–64 year age group. Jahn et al. (2012) emphasize the
importance of trust for individuals 50–64 years of age. These individuals are found to be more
rational than their 65þ counterparts, who tend to be more emotional. Mahayudin et al. (2010)
show that older individuals are less likely to file complaints in instances of a negative
consumption experience.
The study at hand considers individuals 55 years of age and over as elderly consumers.
Furthermore, as other authors have done (e.g. Williams and Drolet, 2005; Jahn et al., 2012), the
study endeavours to identify differences between the 55–64 and 65þ age groups, the
objective being to provide for the development of more appropriate and more effective action
and strategies for each of the two segments. In light of perceptible differences within these
two groups (Chaouali and Souiden, 2019; Mattila et al., 2003), businesses would be well
advised to target each effectively to ensure the success of their commercial efforts.

Mobile service experience

Introduced into marketing literature in 1982 by Hirschman and Holbrook, the notion of
experience, formerly viewed as more utilitarian, was broadened to include a more symbolic,
hedonic, even aesthetic dimension by recognizing the role played by emotions in the
consumption process (Pine and Gilmore, 1998). Since an experience can take place before,
during or after a purchase or act of consumption (Arnould and Price, 1993; Izogo and
Jayawardhena, 2018), customer experience refers to a “subjective internal response” or
“reaction” by consumers to encounters (touchpoints) with product/service/brand/business-
related elements conveyed through various channels (Grewal et al., 2009).
For service providers, the provision of a memorable experience represents a central
objective for differentiation (Roozen and Katidis, 2019; Srivastava and Kaul, 2016), thereby
ensuring both competitive advantage and profitability (Martin et al., 2015). Experience is
neither random nor accidental but can be developed and controlled by a company to create Not all elderly
added value for consumers. It is therefore important to have a good understanding of what are the same
the different segments seek out in the way of experiences from financial institutions.
The customer experience in the traditional context is not the only type of experience of
interest to researchers. Since the advent of the Internet and smartphones, some academics
have turned their attention to user experiences in a Web-based or mobile environment. This
study focuses on customer mobile banking service experience, the lesser researched of the
two contexts, which is defined a psychological state manifested as a subjective response to 89
mobile services provided by banks (Rajaobelina et al., 2018).
Complex in nature, the five dimensions of customer experience advocated by Schmitt
(1999) are favoured by many authors (e.g. Brakus et al., 2009; Gentile et al., 2007) in academia.
However, not all five dimensions are always examined simultaneously. Many investigate
them in fragments or individually and, in so doing, have spawned a wealth of much needed
research in the service industry (Mahr et al., 2019). The dimensions probed in this study
include: sensory (involving sensations and perceptions through the five senses, namely taste,
sight, touch, smell and sound); affective (involving feelings and emotions both positive and
negative); cognitive (involving the process of thinking and reasoning, learning, rational
evaluation, creative problem solving); physical/behavioural (involving physical actions,
reactions and behaviours); social (involving social identity, social acceptance and relations
and interactions with others). As in work by Rajaobelina et al. (2018) in a m-banking context,
the affective and sensory dimensions are grouped together into a single dimension given their
strong correlation. A negative affective dimension is also included as consumption-related
emotions can be both positive (e.g. joy, enchantment) and negative (e.g. sadness, fear, anger)
(Ladhari, 2009).
Elderly individuals notably appreciate spiritually and intellectually enriching experiences
(Hudson, 2010) that enable them to establish ties with others (Myers and Lumbers, 2008;
Swimberghe et al., 2018), ties from which they derive positive emotions (Kumar and Lim,
2008). As their mobile service experience has not been examined in previous literature, this
study aims to fill the gap.

Trust
Trust and the importance thereof have piqued the interest of any number of researchers from
a variety of disciplines. Previous research defines trust as a “willingness to rely on a partner
[or firm] in whom [in which] one has confidence” (Moorman et al., 1992, p. 82). Customer trust
in mobile banking can refer to the set of customer beliefs of competence/ability, integrity and
benevolence that could enhance customer willingness to depend on the firm that is offering
mobile banking services to attain the financial transactions (Alalwan et al., 2017). Competence
refers to the firm’s specific skills or expertise. Integrity captures the trustor’s perceptions of
the firm’s honesty and reliability. Finally, benevolence is associated to the trustee’s positive
orientation perception toward the firm (common interests or gains) (Becerra and
Korgaonkar, 2011).
Trust tends to be more difficult to establish in an online context given divergence in user-
friendliness and interaction compared to an in-store or in-branch environment (Bart et al.,
2005; Obal and Kunz, 2013). It is that much more important in online environments given the
greater perceived uncertainty and transaction complexity (Amoako et al., 2019; McKnight
and Chervany, 2002), such as e-banking (Kaabachi et al., 2019). The future of business-to-
consumer e-commerce would be impossible without trust (Kim and Peterson, 2017). It is
difficult to build consumer trust in mobile banking as the latter is evolving rapidly
(Skvarciany and Jureviciene, 2017). In m-banking, smartphone-based self-service capability
has changed the nature of customer service by empowering consumers. As a consequence,
customers are poised to make more enlightened choices, better manage both their time and
IJBM their finances and operate more independently of banking service providers (Gummerus et al.,
39,1 2019). Previous research shows that trust is the cornerstone of long-term relationships with
clients and businesses in the risk-exposed environment of mobile banking services (Berraies
et al., 2017). These authors add that mobile banking services provide banks with an excellent
opportunity to consolidate client relationships, connect more closely with customers, interact
with individuals in real time and receive valued feedback. Considering that trust is a
significant element that affects the continued use of mobile banking by consumers, it is
90 important to determine its influencing factors (Koenig-Lewis et al., 2010; Skvarciany and
Jureviciene, 2017). For example, Berraies et al. (2017) have examined the impact of perceived
value in mobile banking on trust with age as moderator. Our study therefore enriches the
theoretical corpus on factors influencing trust in m-banking by focusing on the dimensions of
experience and by paying special attention to an important group of consumers (seniors).

Hypothesis development
Topical literature substantiates the link between experience and trust (Dwivedi et al., 2018;
Jung and Soo, 2012; Xie et al., 2017), while this applies to an e-commerce environment (Ha and
Perks, 2005), little research investigates this link in a “mobile context” (e.g. Molinillo et al.,
2020, but limited to the study of the cognitive and affective dimensions). Literature is also
lacking with respect to the impact of each of the unique dimensions of experience on trust in
the context of an ageing population. Hence, in the following paragraphs, hypothesized
relations are proposed in order to better understand how the dimensions of mobile service
experience (cognitive, positive affective/sensory, negative affective, behavioural and social)
relate to elderly consumer trust in financial institutions.
Firstly, regarding the cognitive dimension, elderly consumers perceive a utilitarian
advantage in mobile services (Kumar and Lim, 2008). Berraies et al. (2017), indeed find that
baby boomers, dubbed “economic users,” seek out functional aspects attached to the use of
mobile banking services. Consumers in general also appreciate cognitive/intellectual
experiences to avoid boredom (Brakus et al., 2009). The abundance of high-quality
information available through online financial services helps consumers make more
enlightened decisions, provides for more interesting cognitive experiences and enhances
levels of trust (Ladhari and Leclerc, 2013).
Concerning the affective/sensory dimension, as individuals get older, they tend to activate
emotional centres which sharpen their focus on affective information (East et al., 2014).
Positive affective online purchase experiences can reinforce consumer trust in the online
retail sector (Martin et al., 2015) and in mobile banking (Berraies et al., 2017). Elderly users
appear to be more sensitive to the element of form (aestheticism) in mobile technologies than
their younger counterparts (Botzenhardt et al., 2016). A positive relationship exists between
elements that stimulate the senses (e.g. Website design intended to spur visual appreciation)
and trust (Schlosser et al., 2006).
From the negative affective dimension viewpoint, elderly consumers are generally more
resistant to innovation such as mobile banking, demonstrating stress and anxiety in the face
of novelty and appearing more rigid and less inclined to learn how to use modern-day
technology (Chaouli and Souiden, 2019). These individuals are limited in the use and
understanding of functions relating to mobile services (McLeod, 2009). As mobile services are
relatively recent and elderly individuals less agile, the latter tend to exhibit a sense of stress or
anxiety which can affect trust. In relationship marketing literature, Palmatier et al. (2006)
consider conflict (negative experience) as the factor exerting the greatest absolute negative
impact on trust.
As for the behavioural dimension, elderly consumers exhibit highly specific forms of
conduct in regard to their experience. They take more time to come to a purchase decision,
shop in the morning and make more purchase decisions as a group (Meneely et al., 2009).
Older consumers tend to spend more money on all that they purchase (Reisenwitz and Iyer, Not all elderly
2007). However, they seem to be better in their financial management than the younger are the same
individuals (Phan et al., 2019). In an online context, baby boomers notably exhibit greater
patience and spend more time viewing Web pages than younger individuals. Indeed,
Djamasbiet al. (2011) show, based on eye data, that baby boomers have many more fixations
and that they cover a greater number of pages than their Generation Y counterparts. Certain
consumer behavioural experiences can therefore emerge during participation in the service
production and delivery process. Participation or co-production can reduce perceived 91
uncertainty and subsequently improve the quality of the perceived relationship (Xie et al.,
2017) and therefore the perceived trust. In m-banking, people tend to develop trust when they
can perform their activities themselves (e.g. to transfer money anytime and anywhere, to see
their balance accounts and manage their accounts in a timely manner) (Malaquias and
Hwang, 2017).
Finally, in relation to the social dimension, elderly consumers hold higher importance to
customer service/advisor support in an e-banking context (Oinas-Kukkonen et al., 2010).
They also tend to be community-oriented (Swimberghe et al., 2018). They are generally
interested in connecting and interacting with other members of their community with respect
to shared interests and issues of joint concern (Hudson, 2010). Mobile technology provides
access to social networking sites, live chat services and various Web-based communities. In a
context of mobile services use, previous research underlines the importance of social value in
terms of identification with or the desire to belong to a social class (Gummerus and Pihlstr€om,
2011). Indeed, perceived social presence in online services tends to generate favourable
customer perception of websites and relationships (Cyr et al., 2007). Malaquias and Hwang
(2017) show that there exists a positive relationship between social influence and trust in an
m-banking context. Inversely, a lack of social presence negatively impacts trust in online
consumers (Gefen and Straub, 2003).
Based on this literature, the following hypotheses are proffered:
H1. Elderly customers’ mobile service experience impacts their trust in financial
institutions.
More specifically:
H1a. The “cognitive” dimension of mobile service experience positively impacts elderly
consumers’ trust in financial institutions.
H1b. The “positive affective/sensory” dimension of mobile service experience positively
impacts elderly consumers’ trust in financial institutions.
H1c. The “negative affective” dimension of mobile service experience negatively impacts
elderly consumers’ trust in financial institutions.
H1d. The “behavioural” dimension of mobile service experience positively impacts
elderly consumers’ trust in financial institutions.
H1e. The “social” dimension of mobile service experience positively impacts elderly
consumers’ trust in financial institutions.
Further research is required to understand the different segments of the grey market
demographic (Chaouli and Souiden, 2019). One would be remiss in surmising that all baby
boomers are the same (Hudson, 2010). Older individuals clearly do not all share the same
beliefs, values, attitudes, desires and behaviours (Chaouli and Souiden, 2019). The last
authors point out that younger elders differ from cognitively older elders in their perceptions
of barriers to mobile banking. We therefore assume that differences exist concerning the
impact of the dimensions of experience on trust.
IJBM For example, the decision-making process focuses mainly on variations in cognitive and
39,1 affective processes as individuals advance in age (East et al., 2014; Lambert-Pandraud and
Laurent, 2010). Elderly consumers become more conservative owing to cognitive decline,
which increases the cognitive effort required to make decisions and leads them in the
direction of heuristic decisions such as repetition of choices (East et al., 2014).
Older individuals more readily accept service inconsistencies (Soares et al., 2017). The
impact of a negative experience on trust may therefore vary based on age.
92 Research also demonstrates that the detrimental effects of aging on sensory capability
often take hold progressively and then increase more rapidly later in life (Harris et al., 2016).
Since the sensory skills of elderly consumers decrease over time, these individuals are less
sensitive to their effects. The impact of positive affective/sensory experience on trust in
individuals 65þ years could be less pronounced.
Behavioural differences in elderly consumers are also observed. Indeed, younger seniors
make more online purchases and are more likely to spend more than older individuals (Leppel
and McCloskey, 2011). According to eMarketer (2018b), 45% of Americans aged between 50
and 59 years and who own a mobile device have made at least one purchase with their device
vs 19% for individuals 70þ years. One could therefore assume that the impact of the mobile
behavioural experience on trust varies based on age group. In m-banking, Berraies et al.
(2017) show that age acts as a moderator in the relationship between perceived values and
trust. Hence the following hypothesis:
H2. The impact of mobile service experience on trust varies based on elderly consumer
age (55–64 years versus 65þ years).
Figure 1 presents a conceptual model detailing the links to be tested among constructs.

Research methodology
Data collection
A quantitative approach was used for this study. More precisely, an online survey has been
particularly well suited to the objectives of the study. The questionnaire was distributed by a

Figure 1.
Conceptual model
North American marketing research firm to an online group of panelists. To be eligible to take Not all elderly
part in this study, respondents had to be at least 55 years old (as per Chaouli and Souiden, are the same
2019) and had used their mobile devices (smartphone or tablet) to conduct banking activities
via their financial institution’s mobile application or website. Respondents could not be
employees of a financial institution. A total of 390 questionnaires were completed and deemed
useable. The sample comprised men in a proportion of 52.3%, with 59.2% of respondents
aged between 55 and 64 years and 32.1% between 65 and 74 years. A total of 30.5% of
respondents completed undergraduate studies and 58.5% used their smartphones (41.5% 93
their tablets) to carry out mobile banking transactions. In most circumstances, they engaged
in m-banking at home (70.8%) or while on the go (22.6%) (Table 1).
Measurements
Measurements of m-banking experience were based on the study by Rajaobelina et al. (2018)
(please see Table 2 for a list of items). Respondents were asked to answer the questions with
respect to their mobile service experience with their financial institution. Trust in the financial
institution was evaluated by adapting the measures advanced by Bhattacherjee (2002) and
Chouk and Perrien (2005). All items were measured using a Likert-type, 7-point scale. The
psychometric properties of the scales and testing of the hypotheses with regard to the
structural model were analysed using EQS 6.2 software.
A multigroup analysis was conducted to validate Hypothesis 2 and assessed whether the
impact of mobile service experience on trust varies in accordance with the two age groups:
pre-retirees (55–64 years) and seniors (65þ years).

Findings
Measurement model
The measurement model reveals acceptable fit when the results provided by EQS 6.2
software are examined. The χ 2 value is 846.62 with 284 degrees of freedom. However, the

Characteristics Number Percentage (%)

Gender
Male 204 52.3
Female 186 47.7
Age
55–64 years 231 59.2
65–74 years 125 32.1
75þ years 34 8.7
Education
High school, general or vocational 75 19.2
College, pre-university 133 34.1
University certificate/Bachelor’s degree 119 30.5
Master’s degree 51 13.1
Doctorate (PhD) 8 2.1
I prefer not answering 4 1
Device most used for m-banking
Smartphone 228 58.5
Tablet 162 41.5
Location of preference for m-banking Table 1.
Home 276 70.8 Sample
Work 26 6.7 characteristics
On the go (e.g. while commuting, travelling or shopping) 88 22.6 (n 5 390)
IJBM Factor Average variance Alphas/comp.
39,1 Construct loadings extracted (rvc) Rel

Trust 0.68 0.88/0.89

This financial institution is really trustworthy 0.86
This financial institution is very competent in its 0.93
field
94 This financial institution keeps its promises and 0.83
commitments
This financial institution keeps my best interests 0.64
in mind
Cognitive dimension 0.78 0.90/0.91
I get the impression that I am learning 0.90
something
My curiosity is stimulated 0.94
My creativity (new accomplishments or ideas) is 0.80
stimulated
Positive affective/sensory dimension 0.53 0.88/0.89
I sometimes feel happy 0.63
I sometimes feel entertained 0.76
I sometimes feel delighted 0.74
My senses are involved 0.79
My visual sense is stimulated 0.78
My sense of hearing is stimulated 0.66
My sense of touch is stimulated 0.71
Negative affective dimension 0.59 0.85/0.85
I sometimes feel disappointed 0.82
I sometimes feel angry 0.89
I sometimes get bored 0.68
I sometimes get impatient 0.67
Behavioural dimension 0.59 0.80/0.81
I tend to conduct more banking transactions 0.60
than planned
I tend to search for information about new 0.85
products and services
I tend to compare the financial institution’s 0.83
products and services
Social dimension 0.68 0.91/0.91
I enjoy a pleasant social experience 0.74
I feel that I am a part of a community 0.81
Table 2. I identify with other customers 0.82
Results for the I develop relationships with staff members 0.85
measurement model I socialize 0.90

relative chi-square statistic (χ 2/df) is often used as a measure of fit since the likelihood ratio
chi-square statistic is known to be sensitive to sample size (Byrne, 2006). The value of χ 2/df in
this study stands at 2.98, which indicates good model fit as it falls below 3 (Kline, 2005). The
NNFI of 0.92 is greater than the 0.90 threshold recommended by Kline (2005) and the CFI of
0.93 is greater than the recommended 0.90 cutoff (Kline, 2005). The value of 0.08 (90%
confidence interval of 0.075, 0.091) of the RMSEA obtained for this model indicates a
satisfactory fit (Hu and Bentler, 1999).
Reliability and validity of model
All alpha coefficient estimates and composite reliabilities are greater than 0.70 (Nunally, 1978)
(ranging from 0.80 for behavioural experience to 0.91 for social and cognitive experience)
(Table 2). Reliability through internal consistency is thereby confirmed.
 Construct validity is assessed by verifying both convergent and discriminant validity. For Not all elderly
demonstrating convergent validity, it is recommended that factor loadings be significant and are the same
greater than or equal to 0.60 (Hair et al., 2006). This threshold is achieved for all items. In
addition, average variance extracted (AVE) is examined to see whether it is greater than or
equal to 0.50, which is the case for all constructs (ranging from 0.53 for positive affective/
sensory experience to 0.78 for cognitive experience), demonstrating that variance owing to
measurement error is less than variance explained by the construct (Fornell and Larcker,
1981). To substantiate the discriminant validity of the constructs, AVE must be greater than 95
the variance (squared correlations) between the proposed factor and all other factors (Fornell
and Larcker, 1981). Results in Table 3 show that discriminant validity is achieved in
this study.

Structural model
The structural model fits the data well (goodness-of-fit indices: χ 2 (284) 5 826.72, χ 2/df 5 2.91,
NNFI 5 0.92, CFI 5 0.93, RMSEA 5 0.08 with 90% confidence interval of 0.074, 0.091). By
examining the structural model estimates (Table 4), support is found for all hypothesized
causal paths of the dimensions of mobile service experience (H1a, H1b, H1c, H1e) except for
one, namely the behavioural dimension (H1d). We elaborate further on this point in the
discussion which follows. H1 is therefore partially confirmed.
As for the moderating impact of age, we observe that the impact of two dimensions of
mobile service experience (positive affective/sensory and social) on trust varies significantly
between the two age groups. Hypothesis H2 is therefore validated (Table 4). More specifically,
while the effect of positive affective/sensory on trust is stronger for 55–64 years (γ 5 0.36,
p < 0.05 versus γ 5 NS for 65þ years), the effect of the social dimension is more pronounced
for 65þ years (γ 5 0.28, p < 0.05 versus γ 5 NS for 55–64 years).

Discussion and conclusion

Technological advances and aging populations figure among leading trends in academic and
practitioner interest of the past two decades. The objective of this study is to examine the
impact of mobile service experience on trust of elderly consumers in their financial institution
and to assess whether age exerts a moderating influence on this impact. The latter is of
particular interest, especially given that all dimensions of experience are included as
advocated by Mahr et al. (2019), who evidences a telling gap in topical literature.

Discussion of findings
Firstly, this study’s findings substantiate the influence of mobile banking service experience
on trust in the elderly consumer segment. Indeed, all dimensions of experience, with the

Constructs (1) (2) (3) (4) (5) (6)

Trust (1) 0.68

Cognitive (2) 0.06 0.78
Positive affective/sensory (3) 0.06 0.51 0.53
Negative affective (4) 0.03 0.05 0.05 0.59
Behavioural (5) 0.01 0.33 0.32 0.05 0.59
Social (6) 0.03 0.13 0.24 0.05 0.29 0.68
Note(s): aAverage variance extracted (AVE) on-diagonal and squared correlations among constructs off- Table 3.
diagonal Discriminant validitya
IJBM H2- impact of moderatingb variable (age)
39,1 Overall impact on 55–64 years 65þ years
Constructs Meana (SD) trust (n 5 231) (n 5 159)

H1a- Cognitive 3.99 (1.39) 0.20* NS 0.30**

H1b- Positive affective 2.78 (1.33) 0.17* 0.36**(þ) NS
/sensory
96 H1c- Negative affective 2.78 (1.46) 0.23** 0.21** 0.24**
H1d- Behavioural 3.84 (1.37) NS NS NS
H1e- Social 2.32 (1.48) 0.14* NS 0.28**(þ)

p
Model and constraints χ2 df *CFI Compared models Δ χ2 value

Model 1
No constraint 1154.06 568 0.934 – – –
Model 2
Factor loadings, variances 1184.33 588 0.934 2 vs 1 30.27 (20) >0.05
and covariances
Model 3
Factor loadings, variances, 1192.65 593 0.935 3 vs 1 38.59 (25) <0.05
covariances and causal paths
Note(s): **significant at 95%; *significant at 90%; NS 5 not significant
(þ) group for which the difference is significantly higher
a
No significant difference between the means of the two groups
b
Table 4. Measurement invariance was tested at three levels, namely configural (Model 1), metric (Model 2) and scalar
Results (Model 3) (Steenkamp and Baumgartner, 1998)

exception of the behavioural dimension, are found to have an impact. Secondly, this study
points out distinctions between elderly consumers, thereby underscoring that seniors must
not all be grouped together into a single category. Significant differences exist between
pre-retirees (55–64 years) and seniors (65þ years) with respect to the impact of the positive
affective/sensory and social dimensions on trust (greater impact of the positive affective/
sensory dimension on pre-retirees and the social dimension on seniors respectively). The
following paragraphs discuss these findings.
Regarding the cognitive dimension of experience, its impact on trust is validated in some
studies (e.g. Molinillo et al., 2020; Rajaobelina et al., 2018) but not in others (e.g. Rose et al.,
2012). In this study, the presence of a link can be attributed to the fact that elderly consumers
often thirst for knowledge, are decidedly rational (Parment, 2013) and take more time to come
to decisions (Meneely et al., 2009). Being able to offer them experiences that stimulate them
intellectually will lead to their trust. The cognitive dimension is also that much more
important with online and web technologies, as they rely heavily on self-service where
functional aspects become of great importance (Ganguli and Roy, 2011).
The positive affective/sensory dimension of experience impacts trust and is in line with the
findings of other studies (e.g. Berraies et al., 2017; Molinillo et al., 2020). This dimension proves
critical to elderly consumers in a mobile context, especially for pre-retirees. Interaction with
mobile devices involves the use of a touch screen which provides for a richer multisensory
experience (Shen et al., 2016). Additionally, seniors tend to have a greater number of emotion
centres activated and exhibit higher levels of positive emotions (Beauchamp and Barnes,
2015; East et al., 2014). This activation may flow from the multisensory experience provided
by mobile services, thereby fostering trust.
 The impact of the negative affective dimension on trust is consistent with the findings of Not all elderly
Brun et al. (2016), who evidence the detrimental influence of conflict on relationship quality in an are the same
online banking environment. Study results show no significant difference between the two
elderly consumer age groups in terms of the impact of negative mobile service experience on
trust. Brun et al. (2016) also observe that age does not moderate the impact of conflict on
relationship quality when they compare different generations (Baby boomers vs Generation Y).
While some studies (e.g. Dwivedi et al., 2018; Xie et al., 2017) do not consider the social
dimension in their conceptualization of customer experience and the impact of this dimension 97
proves not to be significant in a mobile context (Berraies et al., 2017), research herein shows
this dimension to be meaningful to elderly consumers in a mobile context. More specifically,
findings confirm that, even in a mobile services environment, these individuals (especially
those 65 years of age and over) appreciate being able to identify and interact with others,
banking staff in particular (Mattila et al., 2003).
The sole dimension of mobile service experience found not to exert an impact on trust in
elderly consumers is the behavioural dimension, substantiating the findings of Jung and Soo
(2012). This could be explained by the fact that elderly consumers exhibit less pronounced
mobile/online behaviour (e.g. less sharing of online information, fewer transactions
conducted) and that they are more conscious of online data collection tactics (Lawler and
Molluzzo, 2010), which possibly leads to heightened scepticism.
As evidenced in this research, significant differences exist between pre-retirees (55–64
years) and seniors (65þ years). As expected, the positive affective/sensory dimension is found
to exert a greater impact on trust for pre-retirees while the cognitive and the social dimensions
influence trust for seniors. These results are in line with those of Harris et al. (2016) regarding
the impact of the affective/sensory experience on trust. Indeed, these authors have shown that
individuals progressively and more rapidly lose their sensory capacities as they age, which
could explain a lesser influence on trust for seniors in this study.
Concerning the more pronounced impact of the cognitive dimension on trust for the
seniors group, the findings concur with those of East et al. (2014), who explain that cognitive
skills also degrade with age and that older people therefore become more conservative and
dependent on heuristics.
Social experience, on the other hand, has an impact on trust for the seniors group (65þ).
Little research has studied this dimension (Brun et al., 2020) and even less in relation to trust
(Kim and Peterson, 2017). Gefen and Straub (2003) demonstrated that the social dimension
influences trust, yet the literature provides little justification for the differences between
groups. However, as mentioned earlier, since seniors are less technological, it is possible to
believe that their entourage (social influence/identification) can become reassuring, and thus
increases their trust.
This study also highlights the lack of difference in means between the two groups with
respect to the dimensions of mobile service experience. It is legitimate to think that one of the
two groups would have rated certain dimensions of the mobile service experience more
highly. Moreover, the study by Jahn et al. (2012) suggests that pre-retirees are more sensitive
to “how a brand is” and seniors to relationships. The context (m-banking) may explain this
lack of differences. The use of a mobile phone for utilitarian activities is less pleasant. In fact,
all the dimensions of the perceived mobile service experience are poorly evaluated.
In summary, while the two groups do not differ in their assessment of the dimensions of
the mobile service experience, the impact of these dimensions on trust may vary between
pre-retirees (55–64 years) and seniors (65þ years).

Implications
This study, presenting both theoretical and practical implications, enriches the theoretical
body of knowledge relating to elderly consumers, mobile services marketing and
IJBM experiential/relationship marketing. More specifically, this study enriches the theoretical
39,1 corpus on the antecedents of trust in m-banking. To date, the literature has focused on
sociodemographic variables (e.g. age, gender) (Malaquias and Hwang, 2017), individual
characteristics (e.g. personal propensity/disposition to trust) (Kim et al., 2009; Srivastava et al.,
2013; Zhou, 2013), firm-related variables (e.g. reputation) (Kim et al., 2009), perceived value
(Kim et al., 2009; Lin et al., 2014; Berraies et al., 2017) and elements of service quality (e.g.
quality of information, design, ease of use, privacy/security) (Lee and Chung, 2009; Zhou,
98 2012, 2013; Srivastava et al., 2013; Sun et al., 2017; Masrek et al., 2018; Ferreira et al., 2018; Chiu
et al., 2017; Vaithilingam et al., 2013). To the best of our knowledge, it is the first to consider
mobile service experience in elderly consumers, and one of the rare few to consider experience
with respect to mobile services (e.g. Chen et al., 2018; Rajaobelina et al., 2018). The importance
of the social dimension merits being underscored, even in a mobile context. Moreover, as
observed in other studies (e.g. Chaouali and Souiden, 2019), elderly consumers are not a
homogeneous group of individuals.
This study will allow mobile bank marketers to develop experiential tactics for each group
of elderly consumers (55–64 and 65þ) that are considered critical to building and/or
maintaining trust and enable bank resources to do so more effectively. It is also important to
carry out tests for optimization purposes. Marketers need to tailor their strategies according
to segments.
Several other practical implications can be proffered. The low means for the constructs
(e.g. 3.99/7 for the cognitive dimension, 2.78/7 for the positive affective/sensory dimension and
2.32/7 for the social dimension) suggest that there is room for improvement.
Given the impact of the cognitive dimension of mobile service experience on trust
(especially in individuals 65þ years), it would be wise to design mobile services to provide
relevant information that fosters learning, as well as tools and information intended to
intellectually stimulate or elicit curiosity and thinking in seniors (e.g. financial institutions
could create a tool for managing retiree budgets and offer retirement savings and investment
tips). The sharing of relevant information with elderly consumers by means of timely alerts
(messages, surveys, etc.) displayed on mobile devices could prove effective.
As the positive affective/sensory dimension also influences trust (especially for individuals
in the 55–64 year age group), financial institutions could offer mobile sites/applications
designed to stimulate the senses (sight and touch). Effective tactics might entail appealing
design using easy-to-read graphics and visual aids (e.g. increase font size for key
information), as well as user-friendly touch targets.
Since the social dimension impacts trust (especially for individuals in the 65þ year age
group), it would be meaningful to enable elderly consumers to contact a resource person when
using mobile services. Based on the expectations of the grey consumer market segment,
personalized services from an attentive, competent employee would be worth considering
(Beauchamp and Barnes, 2015; Hudson, 2010; Meneely et al., 2009). Mobile services should
include a clickable call function or button for setting up an appointment with a professional
(e.g. meeting with an expert in financial planning or investment management, as well as trust
and estate planning services able to advise seniors having acquired substantial assets or
estates over the years).
Lastly, since negative affective experience has the greatest impact on trust, it would be
important to avoid situations that could lead to detrimental feelings/emotions such as
disappointment and anger. The provision of straightforward, user-friendly mobile
applications containing as few bugs as possible is essential (Chen et al., 2018). To avoid
frustration spawned by the use of mobile services, financial institutions can create
explanatory video presentations (e.g. create simple YouTube videos to explain how to deposit
a cheque using a smartphone) or add a way to quickly reach a person for explanations (e.g.
chat or phone).
Study limits and avenues of future research Not all elderly
As in any study, certain limitations must be mentioned since they open up avenues for future are the same
research. Although chronological age has been privileged in this study, an individual’s
perceived age and chronological age can be different. Indeed, most elderly consumers tend to
feel an average of between seven and twelve years younger than they actually are (Hudson,
2010). Additional research could bring to light differences in this regard.
Future research could extend empirical validation in other sectors such as tourism to see if
results can be generalized to the service industry as a whole. Further investigation of the 99
cultural context in which elderly consumers evolve is also important (Sudbury-Riley et al.,
2015). For example, in an online context, the social dimension (peer endorsements) has a
greater influence on trust in individuals in Hong Kong than in Australia (Obal and
Kunz, 2013).
In short, this study, the first to examine elderly consumers in the context of mobile service
experience and its impact on trust, will doubtlessly lead to future research intended to provide
a deeper understanding of this fragmented, ever more tech savvy segment of society.

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Further reading
eMarketer (2018a), “US smartphone user penetration, by age”, available at: http://totalaccess.
emarketer.com/Chart.aspx?R5219283 (accessed 20 March 2020).
eMarketer (2019a), “US smartphone users, by demographic, Feb. 2019”, available at: https://www.
emarketer.com/chart/229370/us-smartphone-users-by-demographic-feb-2019-of-population-
each-group (accessed 23 March 2020).

About the authors

Dr. Lova Rajaobelina, Ph.D., is a Professor of Marketing at the Universit
e du Qu
ebec a Montr
eal (UQAM).
His research interests are in experiential marketing, bank marketing, hospitality and tourism strategies,
relationship marketing and online consumer marketing. Lova Rajaobelina is the corresponding author
and can be contacted at: rajaobelina.lova@uqam.ca
Dr. Isabelle Brun, Ph.D., is a Professor of Marketing at the Universit
e de Moncton. She is a member of
the Research Group on Cooperative Management at the Universit
e de Moncton. Her research interests
are in bank marketing, relationship marketing, experiential marketing and online consumer marketing.
Ricard Line, Ph.D., is a Professor of Marketing at the Universit
e du Qu
ebec a Montr
eal (UQAM). Her
research interests are in services marketing, relationship marketing, tourism marketing, bank
marketing and marketing research methodology.
Christina Cloutier-Bilodeau, M.Sc., is a former student of the Master’s degree in Management
(marketing specialization) at the Universit
e du Qu
ebec a Montr
eal (UQAM). As part of her master’s
thesis, she was interested in the customer experience of seniors in relation to technology.

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