Application of Technology Acceptance Model (TAM) in Fintech Mobile Applications for Banking

Abstract

The rising prominence of Fintech payment services has a great impact on banking. It is increasingly becoming a global trend. Mobile payment applications and gateways are a well-liked use of Fintech services for banking. Of course, contactless payments are much more appreciated in today’s world. This research paper aims to study the factors that influence customers’ usage of Fintech services for banking. A descriptive and analytical study was conducted through a structured Questionnaire. The Technology Acceptance Model is used to examine the extent to the perceived usefulness, brand image, and perceived risk influence the usage of Fintech. The data have been analyzed and hypotheses have been tested by using statistical measures and quantitative methods. This study identified three factors Perceived usefulness, Brand image, and Perceived risk which influence the usage of Fintech services for banking. Perceived usefulness is the most enabling influencing factor on the usage of Fintech services. The results show that perceived usefulness and brand image have a significant positive influence on the usage of Fintech services, while perceived risks do not significantly affect the usage of Fintech services. It is expected that the findings of this empirical study would have enabled adding to the present contributions on the subject.