Fintech Platform Adoption Through UTAUT Model

The rapid growth of financial technology (Fintech) has transformed financial services in emerging markets, with the Quick Response Code Indonesian Standard (QRIS) emerging as a key digital payment method. Despite its increasing use in Indonesia’s food and beverage (F&B) sector, QRIS adoption remains inconsistent. Besides assessing the mediating role of perceived value and the moderating role of price value, this study seeks to examine the impacts of performance and effort expectancy as well as risk perception on intention to adopt QRIS. This study contributes to extant literature on QRIS adoption by integrating the UTAUT model with value and price value. Recent online urban fintech consumers constituted the sample of a quantitative cross-sectional study. The data was collected using online distribution from 200 to 300 respondents. Confirmatory factor analysis (CFA) was applied to test measurement and validity while structural equation modeling (SEM) was employed to test the relationships between the variables. The results indicate that value, which in turn affects the tendency to adopt QRIS, is significantly determined by performance expectancy and perceived risk. Moreover, the relationship of perceived value and adoption intention is enhanced by price value, but while perceived effort did influence on adoption value, effort expectancy did not have any impact on perceived value.