IDEAS home Printed from https://ideas.repec.org/a/gam/jfinte/v1y2022i4p27-375d962017.html
   My bibliography  Save this article

Factors Affecting Port Users’ Behavioral Intentions to Adopt Financial Technology (Fintech) in Ports in Sub-Saharan Africa: A Case of Ports in Ghana

Author

Listed:
  • Ahmed Antwi-Boampong

    (Department of Electronic Systems, Aalborg University, 2450 Copenhagen, Denmark)

  • David King Boison

    (Department of Logistics and Supply Chain, Ghana Communication Technology University, Tesano, Accra P.M.B 100, Ghana)

  • Musah Osumanu Doumbia

    (Department of Procurement and Supply Chain Management, Accra Technical University, Accra P.O. Box GP 561, Ghana)

  • Afia Nyarko Boakye

    (Department of Business Management, Ghana Communication Technology University, Accra P.M.B 100, Ghana)

  • Linda Osei-Fosua

    (School of Graduate School and Research, Ghana Communication Technology University, Accra P.M.B 100, Ghana)

  • Kwame Owiredu Sarbeng

    (School of Graduate School and Research, Ghana Communication Technology University, Accra P.M.B 100, Ghana)

Abstract

The study evaluated factors influencing port users’ intentions to participate in Financial Technology (Fintech) in the ports of Ghana. The study used non-experimental quantitative correlational design and the Extended Unified Theory of the Acceptance and Use of Technology (UTAUT2) as the theoretical foundation to assess whether performance expectancy (PE), behavioral intention (BI), effort expectancy (EE), social influence (SI), facilitating conditions (FC), hedonic motivation (HM), price value (PV), and habit (HT) were predictors of the intention of port users to participate in a Fintech program with age as a moderating factor. The sample comprised 407 individuals who work in the port industry and are between 18 and 64 years old; these were randomly selected through the SurveyMonkey platform. The study used principal component analysis (PCA), confirmatory factor analysis, and structural equation modeling to analyze and report the results. Findings show that PE, EE, and HT were predictors of the behavioral intention of port users to participate in a Fintech in the maritime and ports in Ghana. FC, SI, HM, and PV values could not predict BI for port users to enroll on a Fintech program. Neither did age have a moderating effect on the predictors variable influence on behavioral intention. This study offers a deeper insight into the adoption of Fintech in the port industry and sub-Saharan Africa. The findings can help researchers explain the variations in the UTAUT2 theoretical framework predictions relative to different sectors and disciplines. Researchers who intend to use the UTAUT2 theoretical framework to influence port users BI to enroll in the Fintech program will now consider PE, EE, and HT the most effective adoption factors. From a practical perspective, the study will help managers and stakeholders in ports in Ghana and sub-Saharan Africa focus on the critical constructs as the first steps to implementing a Fintech program. On the other side, port users will also understand their role relative to performance expectancy, effort expectancy, and the habit to cultivate toward Fintech.

Suggested Citation

  • Ahmed Antwi-Boampong & David King Boison & Musah Osumanu Doumbia & Afia Nyarko Boakye & Linda Osei-Fosua & Kwame Owiredu Sarbeng, 2022. "Factors Affecting Port Users’ Behavioral Intentions to Adopt Financial Technology (Fintech) in Ports in Sub-Saharan Africa: A Case of Ports in Ghana," FinTech, MDPI, vol. 1(4), pages 1-14, November.
    • Handle: RePEc:gam:jfinte:v:1:y:2022:i:4:p:27-375:d:962017
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2674-1032/1/4/27/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2674-1032/1/4/27/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tessmann, R. & Elbert, R., 2022. "Multi sided platforms in competitive B2B networks with varying governmental influence – a taxonomy of Port and Cargo Community System business models," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 132320, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Fosso Wamba, Samuel & Queiroz, Maciel M. & Trinchera, Laura, 2020. "Dynamics between blockchain adoption determinants and supply chain performance: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 229(C).
    3. Amit Kumar Bhardwaj & Arunesh Garg & Yuvraj Gajpal, 2021. "Determinants of Blockchain Technology Adoption in Supply Chains by Small and Medium Enterprises (SMEs) in India," Mathematical Problems in Engineering, Hindawi, vol. 2021, pages 1-14, June.
    4. Ruben Tessmann & Ralf Elbert, 2022. "Multi-sided platforms in competitive B2B networks with varying governmental influence – a taxonomy of Port and Cargo Community System business models," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 829-872, June.
    5. Aichih (Jasmine) Chang & Nesreen El-Rayes & Jim Shi, 2022. "Blockchain Technology for Supply Chain Management: A Comprehensive Review," FinTech, MDPI, vol. 1(2), pages 1-15, June.
    6. Hongjoo Hahm & Tientip Subhanij & Rui Almeida, 2021. "Finteching remittances in paradise: A path to sustainable development," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 8(3), pages 435-453, September.
    7. Andy Weeger & Xuequn Wang & Heiko Gewald & Mahesh Raisinghani & Otavio Sanchez & Gerald Grant & Siddhi Pittayachawan, 2020. "Determinants of Intention to Participate in Corporate BYOD-Programs: The Case of Digital Natives," Information Systems Frontiers, Springer, vol. 22(1), pages 203-219, February.
    8. MOHAJAN, Haradhan Kumar, 2017. "Two Criteria For Good Measurements In Research: Validity And Reliability," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 17(4), pages 59-82.
    9. Hasan, Iftekhar & Kwak, Boreum & Li, Xiang, 2024. "Financial technologies and the effectiveness of monetary policy transmission," European Economic Review, Elsevier, vol. 161(C).
    10. Sung S. Kim & Naresh K. Malhotra & Sridhar Narasimhan, 2005. "Research Note—Two Competing Perspectives on Automatic Use: A Theoretical and Empirical Comparison," Information Systems Research, INFORMS, vol. 16(4), pages 418-432, December.
    11. Senyo, P.K. & Effah, John & Osabutey, Ellis L.C., 2021. "Digital platformisation as public sector transformation strategy: A case of Ghana's paperless port," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    12. Rainer Göb & Christopher McCollin & Maria Ramalhoto, 2007. "Ordinal Methodology in the Analysis of Likert Scales," Quality & Quantity: International Journal of Methodology, Springer, vol. 41(5), pages 601-626, October.
    13. Lee, In & Shin, Yong Jae, 2018. "Fintech: Ecosystem, business models, investment decisions, and challenges," Business Horizons, Elsevier, vol. 61(1), pages 35-46.
    14. Geiger,Michael Tobias & Trenczek,Jan & Wacker,Konstantin M., 2019. "Understanding Economic Growth in Ghana in Comparative Perspective," Policy Research Working Paper Series 8699, The World Bank.
    15. Yang, Chung-Shan, 2019. "Maritime shipping digitalization: Blockchain-based technology applications, future improvements, and intention to use," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 131(C), pages 108-117.
    16. Chang, Jasmine (Aichih) & Katehakis, Michael N. & Shi, Jim (Junmin) & Yan, Zhipeng, 2021. "Blockchain-empowered Newsvendor optimization," International Journal of Production Economics, Elsevier, vol. 238(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stefanos Balaskas & Maria Koutroumani & Kiriakos Komis & Maria Rigou, 2024. "FinTech Services Adoption in Greece: The Roles of Trust, Government Support, and Technology Acceptance Factors," FinTech, MDPI, vol. 3(1), pages 1-19, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Simon Wong & John Kun Woon Yeung & Yui-Yip Lau & Tomoya Kawasaki & Raymond Kwong, 2024. "A Critical Literature Review on Blockchain Technology Adoption in Supply Chains," Sustainability, MDPI, vol. 16(12), pages 1-40, June.
    2. Rainer Alt, 2022. "Electronic Markets on platform transformation," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 401-409, June.
    3. Saravanan Periyasami & Aravin Prince Periyasamy, 2022. "Metaverse as Future Promising Platform Business Model: Case Study on Fashion Value Chain," Businesses, MDPI, vol. 2(4), pages 1-21, November.
    4. Pandey, Dharen Kumar & Hassan, M.Kabir & Kumari, Vineeta & Zaied, Younes Ben & Rai, Varun Kumar, 2024. "Mapping the landscape of FinTech in banking and finance: A bibliometric review," Research in International Business and Finance, Elsevier, vol. 67(PA).
    5. Saravanan Periyasami & Aravin Prince Periyasamy, 2022. "Metaverse as Future Promising Platform Business Model: Case Study on Fashion Value Chain," Businesses, MDPI, vol. 2(4), pages 1-19, November.
    6. Jian-Jun Wang & Zongli Dai & Wenxuan Zhang & Jim Junmin Shi, 2023. "Operating room scheduling for non-operating room anesthesia with emergency uncertainty," Annals of Operations Research, Springer, vol. 321(1), pages 565-588, February.
    7. Zhichao Hong & Hao Shen & Wenjie Sun & Jin Zhang & Hongbin Liang & Gang Zhao, 2024. "Research on the Location-Routing Optimization of International Freight Trains Considering the Implementation of Blockchain," Mathematics, MDPI, vol. 12(23), pages 1-24, November.
    8. Jie Zhang & Chen Ruan, 2024. "Blockchain Technology and Corporate Performance: Empirical Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(21), pages 1-18, October.
    9. Choi, Tsan-Ming & Siqin, Tana, 2022. "Blockchain in logistics and production from Blockchain 1.0 to Blockchain 5.0: An intra-inter-organizational framework," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 160(C).
    10. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2021. "Sustainable Supply Chains with Blockchain, IoT and RFID: A Simulation on Order Management," Sustainability, MDPI, vol. 13(11), pages 1-23, June.
    11. Liu, Qian & Shao, Zhen & Fan, Weiguo, 2018. "The impact of users’ sense of belonging on social media habit formation: Empirical evidence from social networking and microblogging websites in China," International Journal of Information Management, Elsevier, vol. 43(C), pages 209-223.
    12. Mohajan, Haradhan, 2021. "Cradle to Cradle is a Sustainable Economic Policy for the Better Future," MPRA Paper 111334, University Library of Munich, Germany, revised 10 Oct 2021.
    13. Katherin Carrera-Silva & Olga Maritza Rodríguez Ulcuango & Paula Abdo-Peralta & Ángel Gerardo Castelo Salazar & Carmen Amelia Samaniego Erazo & Diego Haro Ávalos, 2024. "Beyond the Financial Horizon: A Critical Review of Social Responsibility in Latin American Credit Unions," Sustainability, MDPI, vol. 16(18), pages 1-23, September.
    14. Liu, Yongtuan & Wang, Kewei, 2024. "Asymmetric impacts of coal prices, fintech, and financial stress on clean energy stocks," Resources Policy, Elsevier, vol. 92(C).
    15. Mustafa Raza Rabbani & Shahnawaz Khan & Eleftherios I. Thalassinos, 2020. "FinTech, Blockchain and Islamic Finance: An Extensive Literature Review," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 65-86.
    16. Iván Sosa Gómez & Óscar Montes Pineda, 2023. "What is an InsurTech? A scientific approach for defining the term," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 26(2), pages 125-173, July.
    17. Ruixin Su & Tong Zheng & Yuzhao Zhong & Weizhou Zhong, 2023. "Role of Digital Inclusive Finance for High-Quality Business Development: A Study of China’s “Five Development Concept” Policy," Sustainability, MDPI, vol. 15(15), pages 1-21, August.
    18. Lin Jia & Xiuwei Song & Dianne Hall, 2022. "Influence of Habits on Mobile Payment Acceptance: An Ecosystem Perspective," Information Systems Frontiers, Springer, vol. 24(1), pages 247-266, February.
    19. Alaassar, Ahmad & Mention, Anne-Laure & Aas, Tor Helge, 2021. "Exploring a new incubation model for FinTechs: Regulatory sandboxes," Technovation, Elsevier, vol. 103(C).
    20. Liu Jiaguo & Zhang Huimin & Zhao Huida, 2021. "Blockchain Technology Investment and Sharing Strategy of Port Supply Chain Under Competitive Environment," Journal of Systems Science and Information, De Gruyter, vol. 9(3), pages 280-309, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jfinte:v:1:y:2022:i:4:p:27-375:d:962017. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.