Investigating the Impact of factors influencing Fintech adoption with the mediating role of Fintech Promotion

Abstract

The fast growth of Fintech has changed the way financial services are provided globally, especially in places like Pakistan. Despite more people being interested, the use of Fintech is still not widespread due to various social, economic and technological issues. This study looks into the main reasons for using Fintech, with a focus on how Fintech promotion helps influence customer actions. This research can advise stakeholders, for example, policymakers, financial institutions and Fintech companies, on how to improve digital financial inclusion in Pakistan. Primary data was collected from 379 bank customers using a structured questionnaire based on a five-point Likert scale. The hypothesized relationships among Customer Trust, Data Security, Financial Literacy, Social Media Influence, Fintech Promotion and Fintech Adoption were tested by analyzing the data with PLS-SEM through the Smart PLS software. The analysis shows that Customer Trust and Data Security play key roles in Fintech adoption and Financial Literacy does so by supporting Fintech promotion. Fintech promotion greatly helps in making adoption possible. Intriguingly, Social Media Influence did not make a big difference, suggesting that digital marketing is affected differently in different situations. This demonstrates that Pakistan needs more trust, stronger security and focused efforts to increase the use of Fintech services. As a result, the study suggests Fintech firms should focus on trust and data security and work on educational campaigns to bridge the gap between awareness and adoption. Further research should explore longitudinal data and include a variety of demographic factors to gain a better insight into the changing Fintech world.