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Data Security, Customer Trust and Intention for Adoption of Fintech Services: An Empirical Analysis From Commercial Bank Users in Pakistan

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  • Wenxiang Zhang
  • Saeed Siyal
  • Samina Riaz
  • Riaz Ahmad
  • Mohd Faiz Hilmi
  • Zhi Li

Abstract

The research aims to empirically investigate the effect of perceived easiness of use (PEU), perceive usefulness (PU), data security (DAS) on adoption intention of Fintech services through Fintech promotion (FP), and customer trust (CT) in commercial banks of Pakistan using Technology Acceptance Model (TAM) in Pakistan. The data of 297 banking services users were collected through self-administered survey. This quantitative study employs cross sectional research design, and data was analyzed through Partial Least Square (PLS)-Structural Equation Modeling (SEM) technique. The regression results indicate that DAS, PEU, PU, FP, CT have positive and significant influence on adoption intention of Fintech Services. The PEU, DAS, PU also have positive and significant effect on CT. In addition, customers’ perception about DAS and PEU also have a positive and significant influence on customers’ perception about importance of FP. On the contrary, FP has insignificant effect on CT and PU also has insignificant effect on FP. Based on researchers findings, this study would be an addition to the existing literature pertaining to adoption of Fintech services by providing novel understanding about the determinants of users’ behavior for adoption of Fintech services. Therefore, this study could help to regulators that how data security through proper IT infrastructure could help to increase the adoption of Fintech. Moreover, findings of the study also indicates that it is precisely important for Fintech innovators to understand their customers’ attitude regarding transparency of data and its security. Such operational activities enable customers to be aware of adequate use of their data and its secure storage.

Suggested Citation

  • Wenxiang Zhang & Saeed Siyal & Samina Riaz & Riaz Ahmad & Mohd Faiz Hilmi & Zhi Li, 2023. "Data Security, Customer Trust and Intention for Adoption of Fintech Services: An Empirical Analysis From Commercial Bank Users in Pakistan," SAGE Open, , vol. 13(3), pages 21582440231, July.
    • Handle: RePEc:sae:sagope:v:13:y:2023:i:3:p:21582440231181388
    DOI: 10.1177/21582440231181388
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    References listed on IDEAS

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    Cited by:

    1. Zhao, Haifeng & Khaliq, Nosherwan, 2024. "In quest of perceived risk determinants affecting intention to use fintech: Moderating effects of situational factors," Technological Forecasting and Social Change, Elsevier, vol. 207(C).
    2. Hassana Hilale & Abdellatif Chakor, 2024. "Do users' pro-environmental personal norms hold significance in electronic payment adoption context?," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(4), pages 1589-1608, December.
    3. Haifeng Zhao & Nosherwan Khaliq & Chunling Li & Judit Oláh, 2024. "In quest of perceived transaction cost’s impact on fintech users’ intention: the moderating role of situational factors," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.

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