Scale Development to Measure Fintech Adoption in Delhi, India

Author(s): Dr. Himanshu, Poorvi Jain, Rohit Kumar, Ayush Kumar, Anushka Yadav

Abstract:

Financial Technology (Fintech) is an emerging concept in the financial industry. The main impetus of this study is to explore the factors affecting the Fintech adoption in India and to develop a FinTech adoption scale since no valid and reliable FinTech adoption scale is available for India. Responses of 148 individual financial services users from India who were over 18 years old were taken. The construct validity of the scale was examined by EFA and descriptive statistics along with reliability analysis. The EFA results found a five-dimensional structure of Trust, Resistance, Social Influence, Perceived Risk, and Perceived Usefulness. Reliability analysis was done using Cronbach's Alpha coefficients and composite reliability .This study helps to track evolution of Fintech adoption in India effectively. Its findings offer important implications for financial service companies as well as the policymakers as policymakers may use this tool to create targeted policies that will improve financial inclusion and innovation in India.

Keywords: Fintech, Fintech Adoption, Fintech Services, Factor Analysis

Pages: 10 - 24      |       89 View       |       53 Download