BACKGROUND
Fintech services adoption accelerated during COVID 19, globally. However, more than 1.6 billion people, mainly belonging to Asia and Africa are still deprived of basic financial services consequently facing severe psychological and other health issues. Factors like high banking costs, access barriers and lack of financial literacy attribute towards the high financial exclusion. Although with such high possession rates of mobile phones worldwide, digitalization can solve many of the health, financial and social issues, yet only financial innovation is not enough, bringing awareness to the use and benefits of such services can have a determinantal effect on the success of global goals of financial inclusion and sustainable health. Unfortunately, slight research has highlighted the role of the current pandemic and financial literacy on fintech adoption in developing countries
OBJECTIVE
The study aims to empirically demonstrates the significant role of fear of pandemic and financial literacy on Fintech adoption
METHODS
The study employs moderated mediation methodology
RESULTS
The findings of the study reveal that perception about financial technology is not just a determining factor in fintech usage, but it also strongly corelates with other behavioural factors and financial literacy and helps attain better financial as well as mental health.
CONCLUSIONS
These remarks are in support of prior studies that found confirmation of a clear impact of perception on behaviour. Finally, our results are consistent with that of the main argument of societal support.