Analysis of Relationship Between Factors Affecting Fintech Adoption

‘Fintech’ is a term derived from two words ‘Finance’ and ‘Technology’ and refers to technological innovations dealing in financial services. Fintech is gradually emerging as an important interface for rapid financial transactions. Mobile Payment (M-Payment) wallets are one of the most prominently used Fintech services in India. Several theories propose different variables that impact the adoption and usage of mobile payment wallets. This study in tends to determine a relationship between the values of expressed beliefs on Effort Expectancy (EE) with the values of Performance Expectancy (PE), Self-Efficacy (SE), and Perceived Trust (PT). The EE and PE are the variables of technology adoption given in the Unified Theory of Acceptance and Use of Technology (UTAUT). The study is based on the responses received from Bank Customers in the state of Sikkim, located in the northeast part of India, and is empirically tested and validated. It was observed that the values of EE are significantly higher than the values of the other 3 constructs, i.e., PE, SE, and PT. It can be concluded from this finding that variable EE has more significance in determining the adoption intention of Fintech amongst Bank Customers compared to the other 3 variables.