Journal
JOURNAL OF THEORETICAL AND APPLIED ELECTRONIC COMMERCE RESEARCH
Volume 16, Issue 5, Pages 1893-1911Publisher
MDPI
DOI: 10.3390/jtaer16050106
Keywords
FinTech platform; IT adoption; UTAUT; perceived value; perceived risk
Categories
Funding
- National Natural Science Foundation of China (NSFC) [71731009, 72061127002, 2018WZDXM020, 71732006, 71433001, 71722014, 91546119]
- Shenzhen Research Base in Arts & Social Sciences
- National Laboratory of Mechanical Manufacture System at Xi'an Jiaotong University
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This study investigates the factors that affect individuals' acceptance of FinTech services and proposes a FinTech adoption model that integrates perceived value, perceived risk, and social influence. The research reveals that performance expectancy and effort expectancy indirectly influence individuals' adoption intention through perceived value.
FinTech platforms are one of the most important elements in the rapidly digitized world's economy. This study investigates the factors that affected individuals' acceptance of FinTech services, especially on internet wealth management platforms. The current research extends the unified theory of acceptance and use of technology (UTAUT) published by MIS Quarterly with integrated financial consumption attributes (i.e., perceived value and perceived risk) alongside the core construct of UTAUT. Data were collected from an established survey company. The empirical results indicate that perceived value, perceived risk, and social influence are strongly related to individuals' FinTech adoption intention, whereas performance expectancy, effort expectancy, and perceived risk affect individuals' perceived value, which in turn influences adoption intention. The proposed FinTech adoption model could contribute to information technology (IT) adoption research by extending the UTAUT in which individuals' performance expectancy and effort expectancy affect their adoption intention indirectly through perceived value. Finally, the implications of the proposed new model for future research and FinTech practice are discussed.
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