Explicating the adoption of an innovation Fintech Value Chain Financing from Aarti (Middlemen) perspective in Pakistan

In the wake of the 2008 global financial crisis, the Fintech industry and Islamic banking were striving to fill the existing void through innovation and different business approaches. Losing trust in conventional banking, advancement of technology and internet globally, and customers craving for trustworthy and reliable financial systems are the main incentives of expansion and growth of Fintech and Islamic Finance. In view of this growth, the current study tests the adoption of the novel mechanism Fintech Value Chain Financing (FVCF) using Unified Theory of Acceptance and Use of Technology (UTAUT) model among potential users, Aarti (middlemen) in the agriculture sector. A cross-sectional self-administered questionnaire survey was conducted; 500 questionnaires were distributed following purposive sampling to collect data for analysis. Findings revealed that perceived benefits expectancy, perceived efforts expectancy, perceived credibility, anxiety, and consumer innovativeness are strong predictors of adoption of FVCF. This study is pioneer in its kind. The study’s contribution to the literature is a newly operationalized instrument for the constructs along with other variables that extend the UTAUT model and the findings provide new insights to consider the UTAUT model to segregate organization based variables. This study is beneficial for the practitioners in Islamic Financial Institutions (IFIs) to update the financial system by using the FVCF.