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Towards an Understanding of FinTech Users’ Adoption: Intention and e-Loyalty Post-COVID-19 from a Developing Country Perspective

Author

Listed:
  • Abeer F. Alkhwaldi

    (Department of Management Information Systems, College of Business, Mutah University, Karak 61710, Jordan)

  • Esraa Esam Alharasis

    (Department of Accounting, College of Business, Mutah University, Karak 61710, Jordan)

  • Maha Shehadeh

    (Department of Finance and Banking Sciences, Faculty of Business, Applied Science Private University, Amman 11931, Jordan)

  • Ibrahim A. Abu-AlSondos

    (College of Computer Information Technology, American University in the Emirates (AUE), Dubai 503000, United Arab Emirates)

  • Mohammad Salem Oudat

    (College of Business Administration, Umm Al Quwain University, Umm Al Quwain 536, United Arab Emirates)

  • Anas Ahmad Bani Atta

    (Department of Accounting and Finance, Middle East University, Amman 11831, Jordan)

Abstract

Earlier literature has shown that the implementation of FinTech innovations is not only determined by banks, financial institutions, or government support, but also by the perception and experiences of FinTech users. FinTech research has shown encouraging findings from scholars in developed countries. However, little is known about the users’ acceptance and use of FinTech in Jordan. The aim of this study is to investigate the determinants of users’ intentions and e-Loyalty toward FinTech adoption in Jordan post the COVID-19 era. A conceptual framework was developed by integrating the four original constructs of the unified theory of acceptance and use of technology (UTAUT), namely performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC), with three additional factors: personal innovativeness (PI), financial literacy (FL), and uncertainty avoidance (UA). In addition, the proposed model considered the e-Loyalty of FinTech users as a consequence of having a good FinTech experience. A quantitative approach using a cross-sectional online questionnaire was applied to collect data from 423 FinTech users. Data were analyzed utilizing structural equation modeling (SEM) based on AMOS 26.0 software package. The findings revealed that UA has a moderating effect on the relationship between FC and users’ intentions. Also, PI has a significant impact on PE and EE. While PE, SI, and FC are factors that enhance behavioral intentions. In return, it builds users’ e-Loyalty toward FinTech services and is deemed a new normal behavior. This study may help FinTech service providers and policymakers better understand the, currently relatively low, usage rate of FinTech, and how it contributes to the development of strategies that boost the acceptance and e-Loyalty of FinTech by Jordanian users after the COVID-19 era, where FinTech is still considered an innovation.

Suggested Citation

  • Abeer F. Alkhwaldi & Esraa Esam Alharasis & Maha Shehadeh & Ibrahim A. Abu-AlSondos & Mohammad Salem Oudat & Anas Ahmad Bani Atta, 2022. "Towards an Understanding of FinTech Users’ Adoption: Intention and e-Loyalty Post-COVID-19 from a Developing Country Perspective," Sustainability, MDPI, vol. 14(19), pages 1-23, October.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:19:p:12616-:d:933170
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    References listed on IDEAS

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