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Consumption switch at haste: insights from Indian low-income customers for adopting Fintech services due to the pandemic

Author

Listed:
  • Soniya Billore

    (Linnaeus University, Sweden)

  • Gautam Billore

    (Institute of Management and Entrepreneurship Development, India)

Abstract

The Covid-19 pandemic has created an environment of uncertainty, stress and financial vulnerability. As countries all over the world adopted preventive strategies ranging from voluntary isolations to stringent lockdowns, people and businesses were required to adjust their dispositions to the new normal resulting in new behaviors. The customer behaviour in financial services was also impacted and especially in developing economies as people were required to move to digital financial platforms at haste. In recent times, Fintech services are on a steady rise globally but their presence in the emerging markets is in a nascent stage and adoption by the low-income segment customers has largely been elusive. Much work is required to understand the needs of this customer cohort to identify factors for product adoption. This study investigates the impact on financial behavior among low-income segment customers for Fintech services due to the pandemic. By testing a set of hypotheses regarding inclination to adopt Fintech the study presents prominent antecedents such as fear, social influence, awareness and trust that led to positive product adoption. The study discusses the theoretical and managerial implications of the study and presents direction for future research.

Suggested Citation

  • Soniya Billore & Gautam Billore, 2020. "Consumption switch at haste: insights from Indian low-income customers for adopting Fintech services due to the pandemic," Transnational Marketing Journal, Oxbridge Publishing House, UK, vol. 8(2), pages 197-218, October.
    • Handle: RePEc:mig:tmjrnl:v:8:y:2020:i:2:p:197-218
    DOI: https://doi.org/10.33182/tmj.v8i2.1064
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    Cited by:

    1. Nicoleta Valentina Florea & Gabriel Croitoru & Georgiana Radu (Cârstea) & Daria Florea, 2024. "The Analysis of the Impact of Digital Product Innovation and Human Resources Specialists on Intention to Use Artificial Intelligence in Financial Banking System," Journal of Financial Studies, Institute of Financial Studies, vol. 16(9), pages 96-110, May.
    2. 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).
    3. Ashraf Mishrif & Asharul Khan, 2023. "Technology adoption as survival strategy for small and medium enterprises during COVID-19," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-23, December.

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