Determinants of fintech adoption behavior: The roles of financial access, perceived benefit, and trust

The purpose of the study is to examine the determinants of Fintech adoption behavior. Specifically, it examines the mediating role of trust and perceived benefits between financial access and Fintech adoption behavior. A quantitative study was employed and survey data were collected from 487 respondents from Saudi Arabia who have earlier experience with online financial transactions. Data analysis was performed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicated that financial access has a positive and significant direct influence on trust in Fintech and perceived benefits. Additionally, trust in Fintech and perceived benefits also showed a positive and significant direct influence on Fintech adoption behavior. Furthermore, trust in Fintech and perceived benefits act as mediators between financial access and Fintech adoption behavior. The findings indicate that Fintech adoption relies on infrastructural factors, where access to finance is based on trust and usefulness. Thus, it is necessary to deploy convenient financial systems for end-users to enhance digital financial inclusion in Saudi Arabia in line with national Vision 2030.