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An Empirical Study on The Adoption Intention of Financial Technology (Fintech) Services Among Bank Users


Affiliations
1 Professor, School of Foreign Studies, Wenzhou University, China
2 Associate Professor, Acharya Bangalore B School, Bangalore, Karnataka, India
3 Associate Professor, School of Foreign Studies, Wenzhou University, China
 

Fintech is a buzzword in the techno-savvy world. Most of the bank users today are comfortable in using digital payment methods, and seen least usage of wallet to carry cash especially in urban and semi urban areas. Thanks to the Financial Technology (Fintech), it has made the life more convenient since it provides wide range of services than the traditional banking services from mobile wallets to peer-to-peer lending to insurance, Fintech services have redefined the way in which consumers and businesses carry out their routine transactions. However, the data shows that the usage of cash still continues in India. This study aims to examine the perception and trust of bank users in the overall payment methods. And also, to examine the influence of demographic factors namely, gender, age, level of education and income which determine the choice of using Fintech. The results shows that the adoption intention of bank users in Fintech are positively correlated, it indicates that respondents have positive intention towards the adoption of Fintech services. It is also found that irrespective of the gender the usage of Fintech services is more in the current scenario.

Keywords

Fintech, Digital Payments, Adoption Intention, Trust in Digital Payment, Government Support
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  • An Empirical Study on The Adoption Intention of Financial Technology (Fintech) Services Among Bank Users

Abstract Views: 432  |  PDF Views: 190

Authors

A. Dhanalakshmi
Professor, School of Foreign Studies, Wenzhou University, China
R K Prema Rajan
Associate Professor, Acharya Bangalore B School, Bangalore, Karnataka, India
Xu Hui
Associate Professor, School of Foreign Studies, Wenzhou University, China

Abstract


Fintech is a buzzword in the techno-savvy world. Most of the bank users today are comfortable in using digital payment methods, and seen least usage of wallet to carry cash especially in urban and semi urban areas. Thanks to the Financial Technology (Fintech), it has made the life more convenient since it provides wide range of services than the traditional banking services from mobile wallets to peer-to-peer lending to insurance, Fintech services have redefined the way in which consumers and businesses carry out their routine transactions. However, the data shows that the usage of cash still continues in India. This study aims to examine the perception and trust of bank users in the overall payment methods. And also, to examine the influence of demographic factors namely, gender, age, level of education and income which determine the choice of using Fintech. The results shows that the adoption intention of bank users in Fintech are positively correlated, it indicates that respondents have positive intention towards the adoption of Fintech services. It is also found that irrespective of the gender the usage of Fintech services is more in the current scenario.

Keywords


Fintech, Digital Payments, Adoption Intention, Trust in Digital Payment, Government Support

References