Drivers Influencing The Adoption Intention Towards Mobile Fintech Services In The Emerging Pakistani Market

Abstract

The adoption and diffusion of MFS in Pakistan, there is not a straightforward or homogeneous process. It is influenced by many factors, both internal and external, that affect the perceptions, attitudes, and behaviors of potential and existing users of MFS. Understanding these factors and their impacts is crucial for MFS providers and policymakers to design and implement effective strategies and interventions to enhance the adoption and usage of MFS in Pakistan, and to achieve the desired outcomes and benefits of MFS for the economy and society. The main objective of this article is to explore and analyze the drivers influencing the adoption intention of consumers towards MFS in Pakistan, using a comprehensive and robust research model. The research model that we have developed and tested is based on the integration of several established theories and frameworks in the literature, such as the technology acceptance model (TAM), the unified theory of acceptance and use of technology (UTAUT), the theory of planned behavior (TPB), and the trust-risk-benefit framework. The model consists of five main factors that influence the intention to adopt fintech (IAF) of consumers: perceived trust (PT), perceived benefit (PB), effort expectancy (EE), perceived risk (PR), and social influence (SI). The model also includes several sub-factors under each main factor. We have collected and analyzed data from a sample of 218 respondents in Pakistan, using a structured questionnaire and structural [1]equation modeling (SEM) technique. The results and findings of our analysis reveal the significant and positive effects of PT, PB, EE, and SI on IAF, as well as the negative effect of PR on IAF. The results also show the mediating and moderating roles of some sub-factors, such as perceived security, perceived privacy, perceived usefulness, and perceived ease of use, on the relationships between the main factors and IAF. The results and findings of this article contribute to the existing literature and knowledge on MFS adoption in Pakistan and other similar markets, and provide useful implications and recommendations for MFS providers and policymakers.