An Empirical Study of the Antecedents of Consumer Attitude towards Fintech Products/Services in Pakistan

Abstract

In addition to the development of FinTech, different scholars have studied that how information technology is integrated to various financial services with an aim over the extended practices for integration. Adoption some of the scholars have studied the basic influence procedure that is used for the adoption of various FinTech services. This study basically gives an empirical analysis of Fintech products and service adoption and consumer attitude towards Fintech technology. The analysis also describing the purpose of adoption of Fintech product and services with the perceived ease of use, perceived usefulness, competitive advantage, perceived risk and perceived cost. Market like Pakistan is an emerging market for Fintech with increasing adoption of digital payments, internet, smartphone penetration, consumer preferences for digital media and online shopping. Also, the State Bank of Pakistan provides sound regulations, that has defined some policies and act as a platform for fintech growth in Pakistan. (Kumail Bushra, 2018). While regulations and policies are mandatory to follow, they might also become a risk for an industry still in its infancy. This study aims to provide the analysis of consumer behavior towards FinTech and their adoption towards Fintech products and services in Pakistan. In Pakistan, state of the art technologies are taking place especially in this industry. Companies like Easypaisa, Sim Sim, Finja, Careem Pay and many other emerging players are contributing remarkably in this industry to grow the adoption of digital payments. The model for this research has been followed is Hayes and preachers Model which was used to mediating the attitude towards attitude towards Fintech product and services with the purpose of its adoption. The outcomes have identified that trust of users in FinTech services has an important affect over the attitudes of users. Along with it, perceived risk and perceived ease of use does not influence the attitudes of users towards adoption related to the services of FinTech. This research has contributed to the literature related to adoption of FinTech services through giving a more comprehensive approach of the factors linked with attitudes of users.