From Inclusion to Advantage: FinTech Adoption and Competitive Strategy Among MSMEs in Ghana

Abstract

Financial technology (FinTech) has been positioned as a driver of financial inclusion for micro, small and medium enterprises (MSMEs) in emerging economies. Prior research has generally concentrated on adoption intentions and short-term efficiency effects, offering limited insight into how digital financial tools generate sustained strategic value. This study addresses this gap by developing an integrative framework that combines the technology acceptance model (TAM), the resource-based view (RBV) and competitive strategy perspectives to explain how FinTech deployment translates into competitive advantage. Using survey data from 113 micro and MSMEs in Ghana and partial least squares structural equation modelling (PLS-SEM), the study examines the relationship between adoption perceptions and post-adoption organizational integration. The findings indicate that perceived ease of use is the strongest antecedent of adoption, while perceived usefulness does not exert a significant direct effect in this context. More critically, deeper organizational integration of FinTech is associated with competitive advantage through gains in cost efficiency, operational agility and service differentiation. These findings reconceptualize FinTech as a strategic capability rather than a transactional tool, whose value depends on embedding it within core business processes, with implications for managerial practice and digital finance policy in emerging economies.