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Determinants of consumer adoption of biometric technologies in mobile financial applications

Author

Listed:
  • Piotrowska Anna Iwona

    (Department of Digital Economy and Finance, Faculty of Economic Sciences and Management, Nicolaus Copernicus University, Gagarina 11, 87-100 Toruń, Poland)

Abstract

This study aims to identify what determines the use of biometric technologies in the financial applications of banks and FinTechs. The analysis uses data from a survey of 1,000 adult Polish residents. The estimated logit model indicates that the probability of using biometric solutions decreases with age and increases with the level of education and technological sophistication related to personal innovativeness, experience with biometric technology and the use of digital technology in both financial and non-financial areas. The work identifies the COVID-19 pandemic as a factor accelerating the adoption of biometric solutions and fostering awareness of the threat of digital technologies invading respondents’ privacy. The study demonstrates the positive impact of trust that phone manufacturers use to ensure the security of stored funds and data processing on the acceptance of biometric solutions in financial services. This relationship underpins the recommendation to financial institutions in the field of promoting biometric technologies.

Suggested Citation

  • Piotrowska Anna Iwona, 2024. "Determinants of consumer adoption of biometric technologies in mobile financial applications," Economics and Business Review, Sciendo, vol. 10(1), pages 81-100, April.
    • Handle: RePEc:vrs:ecobur:v:10:y:2024:i:1:p:81-100:n:2
    DOI: 10.18559/ebr.2024.1.1019
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    References listed on IDEAS

    as
    1. Sookeun Byun & Sang-Eun Byun, 2013. "Exploring perceptions toward biometric technology in service encounters: a comparison of current users and potential adopters," Behaviour and Information Technology, Taylor & Francis Journals, vol. 32(3), pages 217-230.
    2. Michael Breward & Khaled Hassanein & Milena Head, 2017. "Understanding Consumers’ Attitudes Toward Controversial Information Technologies: A Contextualization Approach," Information Systems Research, INFORMS, vol. 28(4), pages 760-774, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    biometric technologies; mobile payments; mobile banking; personal finance apps; technology acceptance; FinTech; COVID-19 pandemic;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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