Determining Factors of the Intention to Adopt Fintech Services by Micro and Small Business Owners from Chiclayo, Peru
Keywords:
Fintech, adoption intention, micro and small enterprises, Fintech services
Abstract
The objective of this research was to determine the factors that influence the intention to adopt fintech services by micro and small business owners from Chiclayo; for this purpose, an applied quantitative study was carried out in which the extended technology acceptance model proposed by Hu, Ding, Li, Chen and Yang (2019) was used for the analysis of nine variables related to the adoption of these technologies. The results reaffirmed that most of the constructs included in the conceptual model have great explanatory power regarding the adoption intention of fintech services, in that 11 of the 13 hypotheses were proven. Thus, it was demonstrated that business owners from Chiclayo use a new technology mainly under the influence of factors such as trust, brand image, and perceived utility, while also considering the potential risks to which they may be exposed; together, these considerations influence their attitude toward adopting fintech services. Finally, the analysis showed that government support and perceived ease of use have only a limited effect, while user innovativeness was the only factor that turned out to be non-significant in the intention to adopt this kind of services.Downloads
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References
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Chong, A. Y., Ooi, K. B., Lin, B. & Tan, B. I. (2010). Online banking adoption: an empirical analysis. International Journal of Bank Marketing, 28(4), 267–287. https://doi.org/10.1108/02652321011054963
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ComexPerú. (12 de junio de 2020). Las MYPE peruanas y la adopción de nuevas tecnologías. Recuperado de https://bit.ly/3zXijw5
Contreras, L. H., Diogo, G. T., Lopes, E. L., Herrero, E. & Bueno, R. L. P. (2019). Propensity of contracting loans services from FinTech’s in Brazil. International Journal of Bank Marketing, 37(5), 1190–1214. https://doi.org/10.1108/IJBM-07-2018-0174
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Dini, M. & Stumpo, G. (Coords.). (2018). Mipymes en América Latina: un frágil desempeño y nuevos desafíos para las políticas de fomento. Comisión Económica para América Latina y el Caribe (CEPAL). Recuperado de https://bit.ly/3h0plsA
Ferraro, C. & Rojo, S. (2018). Las MIPYMES en América Latina y el Caribe: Una agenda integrada para promover la productividad y la formalización. Organización Internacional del Trabajo. Recuperado de https://bit.ly/3x2wU7k
Finnovista. (5 de noviembre de 2017). 47 Startups Fintech impulsan la oferta de mejores servicios financieros en Perú. Recuperado de https://bit.ly/35V9iWt
Fornell, C. & Larcker, D. F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Forsythe, S., Liu, C., Shannon, D. & Gardner, L. C. (2006). Development of a scale to measure the perceived benefits and risks of online shopping. Journal of Interactive Marketing, 20(2), 55–75. https://doi.org/10.1002/dir.20061
Fortnum, D., Pollari, I., Mead, W., Hughes, B. & Speier, A. (2017). The Pulse of Fintech Q1 2017: Global analysis of investment in fintech. KPMG. Recuperado de https://bit.ly/3x0nqJY
Gai, K., Qiu, M. & Sun, X. (2018). A survey on FinTech. Journal of Network and Computer Applications, 103, 262–273. https://doi.org/10.1016/j.jnca.2017.10.011
Garson, G. D. (2013). Scales & Measures. Asheboro: Statistical Associates Publishers.
Goodwin, N. C. (1987). Functionality and usability. Communications of the ACM, 30(3), 229–233. https://doi.org/10.1145/214748.214758
Hair, J. F., Risher, J. J., Sarstedt, M. & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203
Hair, J. F., Sarstedt, M., Ringle, C. M. & Mena, J. A. (2012). An assessment of the use of partial least squares structural equation modeling in marketing research. Journal of the Academy of Marketing Science, 40(3), 414–433. https://doi.org/10.1007/s11747-011-0261-6
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Published
2022-01-19
How to Cite
Merino Balcázar, J., & Llatas Rivas, Ángel. (2022). Determining Factors of the Intention to Adopt Fintech Services by Micro and Small Business Owners from Chiclayo, Peru. Journal of Business, Universidad Del Pacífico (Lima, Peru), 13(2), 19-43. https://doi.org/https://doi.org/10.21678/jb.2021.1650
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