Financial innovation and gender dynamics: a comparative study of male and female FinTech adoption in emerging economies

Purpose - This paper aims to identify the factors influencing the adoption of financial technology (FinTech) services among Indian residents. Moreover, it compares the awareness levels among both male and female users to offer a comprehensive insight into FinTech adoption. Design/methodology/approach - The research comprises two cross-sectional surveys utilizing self-administered questionnaires: Study A involves 411 male participants and Study B involves 473 female users in FinTech adoption. This article used a “Statistical Package for Social Science (SPSS) followed by partial least squares-structural equation modeling (PLS-SEM)” for data analysis. Findings - The exciting finding reveals that attitude and personal innovativeness have a significant impact, while technology anxiety shows a statistically insignificant impact on awareness in both studies. Surprisingly, the socio-demographic factor significantly impacts awareness (in Study A) and has an insignificant impact on awareness in Study B. Moreover, both studies reveal that awareness significantly impacts perceived usefulness and ease of use. Additionally, the outcomes confirm a positive relation between awareness, perceived usefulness, ease of use and FinTech adoption in both studies. Practical implications - The present research will offer valuable insights to all FinTech service providers and stakeholders, aiding them in planning and designing relevant policies. Originality/value - As far as the researchers are aware, this study stands as the initial survey into FinTech that specifically examines the impact of gender on technology adoption. The divergence in awareness and adoption rates between males and females and the authors’ insightful findings illuminate the context's uniqueness. Moreover, this article offers a robust model for using FinTech services from the perspective of a developing economy.