Drivers Influencing the Adoption Intention towards Mobile Fintech Services: A Study on the Emerging Bangladesh Market

Abstract

People’s acceptance of technological changes has escalated with time. However, the acceptance and adoption of fintech services hiked after the outbreak of the virulent coronavirus. With this breakout, the adoption of mobile fintech services (MFS) increased among general citizens and business sectors around the world, including in developed, emerging, and developing economies. This study aimed to identify the factors that impact the adoption intention of consumers to embrace and enhance the use of mobile fintech services in an emerging market, Bangladesh. A research model was developed to strengthen the objective of this paper. A total of 218 respondents responded to the questionnaire. The study utilized structural equation modeling to analyze the results in SmartPLS software. The results showed significant positive effects of social influence, trust, perceived benefit, and facilitating conditions on the adoption intention towards MFS. Mobile fintech service providers must keep their users’ needs and literacy rates in mind when designing the user interface (UI). Moreover, they should also cater more efficient services to the users and work based on the feedback received. The customers’ satisfaction will ultimately lead to customers conducting more digital transactions and will contribute to the escalation of fintech transactions, resulting in more financial inclusion.