Adoption of the Fintech Services among Young Entrepreneurs (International Journal of Advanced Research in Science Communication and Technology)

Summary

• Digital wallets are used by 54% of respondents, and online lending platforms show an adoption rate of 28%.p.6
• Daily usage of FinTech services is reported by 65% of respondents, while 22% use them several times a week.p.6
• Convenience and ease of use represent the primary reason for preferring FinTech services for 32% of respondents.p.6
• Perceived usefulness recorded the highest factor mean score of 4.42, followed by ease of use at 4.30.p.7

Key insights

1. Online lending platforms exhibit the lowest adoption rate among surveyed FinTech services at 28%.p.6
2. A total of 87% of respondents report using FinTech services daily or several times a week.p.6
3. Convenience and ease of use is identified as the leading primary reason for preferring FinTech services by 32% of respondents.p.6
4. Perceived usefulness achieved the highest mean score of 4.42 among investigated factors influencing adoption.p.7
5. Security concerns recorded the lowest mean score among surveyed factor drivers at 3.65.p.7
6. Perceived usefulness shows the strongest positive correlation with FinTech adoption among analysed variables with an assumed coefficient of 0.71.p.7