This paper is aimed on the development and test of a theoretical model based on hypotheses that analyze end-customers' trust, perceived value and loyalty on Internet Banking services relational exchanges in Brazil. Tested model is validated using structural equation modeling based on survey results with 611 Internet Banking end-customers of a major brazilian retail bank. Tested hypotheses show that trust has a strong impact on customers' perceived value which also has a strong impact on customers' loyalty. Perceived value was identified as a partial mediator variable on the trust-loyalty relationship. Managerial and future research suggestions are also presented.
consumer behavior; trust; value; loyalty; services
