BARRIERS IN ADOPTION OF FINTECH BY STREET VENDORS AND HAWKERS IN INDIA USING INTERPRETIVE STRUCTURAL MODELING-Reference-Cited by-同舟云学术

BARRIERS IN ADOPTION OF FINTECH BY STREET VENDORS AND HAWKERS IN INDIA USING INTERPRETIVE STRUCTURAL MODELING

Published:2024-04-25 Issue:1 Volume:25 Page:231-240
ISSN:1648-0627
Container-title:Business: Theory and Practice
language:
Short-container-title:

Author:

Bakhshi Priti¹,Agrawal Reena Agrawal²^ORCID,Mendon Suhan³^ORCID,Frank Daniel³,Spulbar Cristi⁴^ORCID,Birau Ramona⁵^ORCID,Filip Robert Dorin⁶

Affiliation:

1. SP Jain School of Global Management, Mumbai, India

2. Jaipuria Institute of Management, Lucknow, India

3. Department of Commerce, Manipal Academy of Higher Education, 576104 Manipal, Karnataka, India

4. Department of Finance, Banking and Economic Analysis, Faculty of Economics and Business Administration, University of Craiova, Craiova, Romania

5. Department of Finance and Accounting, Faculty of Economic Science, Constantin Brancusi University of Tg-Jiu, Tg-Jiu, Romania

6. “Eugeniu Carada” Doctoral School of Economic Sciences, University of Craiova, Craiova, Romania

Abstract

The adoption of financial technology (fintech) has the potential to make banking and financial services more accessible and convenient for all, but there are significant barriers preventing the adoption of fintech by street vendors and hawkers in India. This study aims to identify and analyse the barriers to fintech adoption using interpretive structural modelling (ISM). The research identified nine key barriers to fintech adoption, including perceived risk, lack of trust, lack of perceived benefit, social influence, lack of awareness, cash culture, lack of literacy, perceived ease of use, and lack of financial literacy. The study utilizes ISM to develop a hierarchy of these barriers and their interrelationships. The findings suggest that to promote the adoption of fintech, it is essential to build trust and awareness of fintech services through education and out-reach programs. This research provides a comprehensive understanding of the barriers to fintech adoption among street vendors and hawkers in India and offers insights into how these barriers can be overcomed. The study contributes to the development of strategies that can help promote the adoption of fintech among marginalized populations and advance financial inclusion in India.

Publisher

Vilnius Gediminas Technical University

Reference87 articles.

1. Agi, M. A., & Nishant, R. (2017). Understanding influential factors on implementing green supply chain management practices: An interpretive structural modelling analysis. Journal of Environmental Management, 188, 351-363. https://doi.org/10.1016/j.jenvman.2016.11.081

2. Agrawal, R. (2022). Role of fintech companies in increasing financial inclusion. Journal of Applied Management-Jidnyasa, 14(1), 24-36.

3. Agrawal, R. (2016). Technology paving way for financial inclusion in India - A reality check. Journal of Applied Management-Jidnyasa, 8(2), 9-12.

4. Ahmad, A., Yadav, R., & Ahmed, M. (2021). Factors affecting the adoption of fintech services among street vendors and hawkers in India: A study based on the technology acceptance model. International Journal of Bank Marketing, 39(3), 542-559.

5. Akingbola, K., & Odunsi, O. M. (2021). Financial literacy and the adoption of fintech services: Evidence from Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Journal of African Business, 22(1), 1-18.