Fintech in COVID-19 and Beyond: What Factors are Boosting Fintech Use in Pakistan

Abstract

The purpose of the current study is to investigate the impact of factors affecting user perception and intention towards the adoption of Fintech in Pakistan in COVID-19 and beyond. Undoubtedly an increase was observed in the use of Fintech services during COVID-19. However, to keep the users hooked with the services and lead them towards the adoption, firms need to identify key factors important to users that enhance their intention to use the service and in maintenance of existing users in long term. A qualitative approach was adopted, and a self-administered questionnaire was designed and distributed to collect data. A data of 257 responded was collected from the user of Fintech in Pakistan and smart-PLS 4 was used for analysis. The findings revealed that Covid-19 lockdown , data security and privacy, trust and quality of staff service are the factors enhancing user intention to adopt Fintech and perceived usefulness partially mediated this relationship. Thus, users how have found Fintech services useful during COVID-19 have moved towards adoption of the service. The research is useful for the government to achieve one of their sustainable development goals and for firms who want to develop their capability and competitive advantage