IDEAS home Printed from https://ideas.repec.org/a/pal/palcom/v12y2025i1d10.1057_s41599-025-05142-x.html
   My bibliography  Save this article

Analysis of mobile fintech adoption based on perceived value and risk theory: findings from PLS-SEM and fsQCA

Author

Listed:
  • Na Wei

    (Shandong Xiehe University)

  • Yikai Liang

    (Shandong University of Finance and Economics)

  • Haiqing Wang

    (Shandong Xiehe University)

  • Mengqing Liu

    (Shandong University of Finance and Economics)

Abstract

The rapid evolution of the financial sector, driven by fintech innovations underscores the importance of understanding the factors influencing mobile fintech adoption, especially in light of privacy and security concerns that hinder user acceptance. This study bridges a gap in the existing literature by proposing an integrated model synthesising perceived value and risk theories, offering a comprehensive framework for analysing mobile fintech adoption. Employing a dual-method approach that integrates Partial Least Squares Structural Equation Modelling (PLS-SEM) and fuzzy-set Qualitative Comparative Analysis (fsQCA), this study empirically investigates the interplay of various value and risk factors affecting adoption intentions among Chinese users. The PLS-SEM results reveal that the integrated model substantially enhances explanatory power, accounting for 46.27% of the variance in mobile fintech adoption. Utilitarian value, social value, performance risk, and time risk show statistically significant net effects on adoption. The fsQCA results identify seven distinct configurations associated with high-level mobile fintech adoption, and eight causal paths giving rise to its negation, highlighting the complexity of decision-making processes in this context. These findings have significant implications for both academic discourse and practical applications, advocating for the adoption of multifactorial frameworks in future studies to enhance understanding of technology acceptance in dynamic environments.

Suggested Citation

  • Na Wei & Yikai Liang & Haiqing Wang & Mengqing Liu, 2025. "Analysis of mobile fintech adoption based on perceived value and risk theory: findings from PLS-SEM and fsQCA," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-22, December.
    • Handle: RePEc:pal:palcom:v:12:y:2025:i:1:d:10.1057_s41599-025-05142-x
    DOI: 10.1057/s41599-025-05142-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41599-025-05142-x
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41599-025-05142-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Wang, Shaofeng & Zhang, Hao, 2024. "Green entrepreneurship success in the age of generative artificial intelligence: The interplay of technology adoption, knowledge management, and government support," Technology in Society, Elsevier, vol. 79(C).
    2. Zheng, Xiabing & Men, Jinqi & Yang, Feng & Gong, Xiuyuan, 2019. "Understanding impulse buying in mobile commerce: An investigation into hedonic and utilitarian browsing," International Journal of Information Management, Elsevier, vol. 48(C), pages 151-160.
    3. Marzi, Giacomo & Fakhar Manesh, Mohammad & Caputo, Andrea & Pellegrini, Massimiliano Matteo & Vlačić, Božidar, 2023. "Do or do not. Cognitive configurations affecting open innovation adoption in SMEs," Technovation, Elsevier, vol. 119(C).
    4. Battaglia, Daniele & Paolucci, Emilio & Ughetto, Elisa, 2021. "Opening the black box of university Proof-of-Concept programs: Project and team-based determinants of research commercialization outcomes," Technovation, Elsevier, vol. 108(C).
    5. Jünger, Moritz & Mietzner, Mark, 2020. "Banking goes digital: The adoption of FinTech services by German households," Finance Research Letters, Elsevier, vol. 34(C).
    6. Kasilingam, Dharun Lingam, 2020. "Understanding the attitude and intention to use smartphone chatbots for shopping," Technology in Society, Elsevier, vol. 62(C).
    7. Zhong, Yongping & Oh, Segu & Moon, Hee Cheol, 2021. "Service transformation under industry 4.0: Investigating acceptance of facial recognition payment through an extended technology acceptance model," Technology in Society, Elsevier, vol. 64(C).
    8. Mutaz M. Al-Debei & Omar Hujran & Ahmad Samed Al-Adwan, 2024. "Net valence analysis of iris recognition technology-based FinTech," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-47, December.
    9. Hong, Areum & Nam, Changi & Kim, Seongcheol, 2020. "What will be the possible barriers to consumers’ adoption of smart home services?," Telecommunications Policy, Elsevier, vol. 44(2).
    10. Gligor, David & Bozkurt, Siddik, 2020. "FsQCA versus regression: The context of customer engagement," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    11. Tang, Kin Leong & Ooi, Chee Keong & Chong , Jia Bao, 2020. "Perceived Risk Factors Affect Intention To Use FinTech," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 6(2), pages 453-463, June.
    12. Pappas, Ilias O. & Woodside, Arch G., 2021. "Fuzzy-set Qualitative Comparative Analysis (fsQCA): Guidelines for research practice in Information Systems and marketing," International Journal of Information Management, Elsevier, vol. 58(C).
    13. Pragati Priyadarshinee & Manoj Kumar Jha & Rakesh D. Raut & Manoj Govind Kharat & Sachin S. Kamble, 2017. "To identify the critical success factors for cloud computing adoption by MCDM technique," International Journal of Business Information Systems, Inderscience Enterprises Ltd, vol. 24(4), pages 469-510.
    14. Duarte, Paulo & Pinho, José Carlos, 2019. "A mixed methods UTAUT2-based approach to assess mobile health adoption," Journal of Business Research, Elsevier, vol. 102(C), pages 140-150.
    15. Pham, Thanh-Thao T. & Ho, Jonathan C., 2015. "The effects of product-related, personal-related factors and attractiveness of alternatives on consumer adoption of NFC-based mobile payments," Technology in Society, Elsevier, vol. 43(C), pages 159-172.
    16. Sonika Bakshi & Urvashi Tandon, 2022. "Understanding barriers of telemedicine adoption: A study in North India," Systems Research and Behavioral Science, Wiley Blackwell, vol. 39(1), pages 128-142, January.
    17. Ashraf, Abdul R. & Thongpapanl Tek, Narongsak & Anwar, Ali & Lapa, Luciano & Venkatesh, Viswanath, 2021. "Perceived values and motivations influencing m-commerce use: A nine-country comparative study," International Journal of Information Management, Elsevier, vol. 59(C).
    18. Afonso, Carolina & Silva, Graça Miranda & Gonçalves, Helena Martins & Duarte, Margarida, 2018. "The role of motivations and involvement in wine tourists' intention to return: SEM and fsQCA findings," Journal of Business Research, Elsevier, vol. 89(C), pages 313-321.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Habib, Muhammad Danish & Attri, Rekha & Salam, Mohammad Asif & Yaqub, Muhammad Zafar, 2025. "Retail consumers' conundrum: An in-depth qualitative study navigating the motivations and aversion of chatbots," Journal of Retailing and Consumer Services, Elsevier, vol. 82(C).
    2. Manu Sharma & Sudhanshu Joshi & Sunil Luthra & Anil Kumar, 2024. "Impact of Digital Assistant Attributes on Millennials’ Purchasing Intentions: A Multi-Group Analysis using PLS-SEM, Artificial Neural Network and fsQCA," Information Systems Frontiers, Springer, vol. 26(3), pages 943-966, June.
    3. Eastman, Jacqueline K. & Shin, Hyunju & Jain, Varsha & Wang, Xinfang, 2024. "Determinants of positive consumer affect toward luxury brands’ social media posts on sustainability: A fsQCA approach," Journal of Business Research, Elsevier, vol. 183(C).
    4. Jan, Ihsan Ullah & Ji, Seonggoo & Kim, Changju, 2023. "What (de) motivates customers to use AI-powered conversational agents for shopping? The extended behavioral reasoning perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    5. Yuan, Yun-Peng & Tan, Garry Wei-Han & Ooi, Keng-Boon, 2025. "What shapes mobile fintech consumers' post-adoption experience? A multi-analytical PLS-ANN-fsQCA perspective," Technological Forecasting and Social Change, Elsevier, vol. 217(C).
    6. Sukhov, Alexandre & Friman, Margareta & Olsson, Lars E., 2023. "Unlocking potential: An integrated approach using PLS-SEM, NCA, and fsQCA for informed decision making," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    7. Ying Yu & Tung-Jung Sung, 2023. "A value-based view of the smart PSS adoption: a study of smart kitchen appliances," Service Business, Springer;Pan-Pacific Business Association, vol. 17(2), pages 499-527, June.
    8. Gligor, David & Russo, Ivan & Maloni, Michael J., 2022. "Understanding gender differences in logistics innovation: A complexity theory perspective," International Journal of Production Economics, Elsevier, vol. 246(C).
    9. Massilva Dekkal & Manon Arcand & Sandrine Prom Tep & Lova Rajaobelina & Line Ricard, 2024. "Factors affecting user trust and intention in adopting chatbots: the moderating role of technology anxiety in insurtech," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 699-728, September.
    10. Gaoyong Li & Xin Zhang & Ge Zhang, 2022. "To Use or Not to Use: It Is a Question—An Empirical Study on the Adoption of Mobile Finance," Sustainability, MDPI, vol. 14(17), pages 1-23, August.
    11. Abed Mahmoudian & Saeed Sadeghi Boroujerdi & Yong Jae Ko & Vahid Delshab, 2024. "The Impact of Perceived Team Reputation on Team Identification in the Context of European Football League Teams," Corporate Reputation Review, Palgrave Macmillan, vol. 27(1), pages 70-85, February.
    12. Nikookar, Ethan & Gligor, David & Russo, Ivan, 2024. "Supply chain resilience: When the recipe is more important than the ingredients for managing supply chain disruptions," International Journal of Production Economics, Elsevier, vol. 272(C).
    13. Johan Hellemans & Kim Willems & Malaika Brengman, 2023. "Covid-19 and mobile payment in Belgium: Closing the digital divide or just for the young, social, and impulsive?," Electronic Commerce Research, Springer, vol. 23(3), pages 1539-1564, September.
    14. Kang, Weiyao & Shao, Bingjia & Du, Shan & Chen, Hongquan & Zhang, Yong, 2024. "How to improve voice assistant evaluations: Understanding the role of attachment with a socio-technical systems perspective," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    15. Sabakun Naher Shetu, 2025. "Determinants of generation Z consumers’ mobile online shopping apps continuance intention to use during COVID-19 and beyond—an empirical study," Future Business Journal, Springer, vol. 11(1), pages 1-18, December.
    16. Tolin, Giovanni & Piccaluga, Andrea, 2025. "Commercializing technology from university-industry collaborations: A configurational perspective on organizational factors," Journal of Business Research, Elsevier, vol. 188(C).
    17. Liu, Xin & Wu, Jiaqi & Zhang, Chenghu, 2025. "Antecedents of consumers' acceptance of central bank digital currency: The role of technology perceptions, social influence and personal traits," Technological Forecasting and Social Change, Elsevier, vol. 217(C).
    18. Hao, Riyan & Li, Chunqing, 2025. "How AI chatbots shape satisfactory experiences: A combined perspective of competence expansion and emotional extension," Technological Forecasting and Social Change, Elsevier, vol. 212(C).
    19. Domingo Fernández-Uclés & Adoración Mozas-Moral & Enrique Bernal-Jurado & Raquel Puentes-Poyatos, 2024. "Online reputation of agri-food companies and determining factors: an empirical investigation," Review of Managerial Science, Springer, vol. 18(2), pages 363-384, February.
    20. Jian Liu & Rainer Harms, 2025. "Pathways to survive in abrupt adversities: a configurational approach to understanding the resilience of new venture teams," Review of Managerial Science, Springer, vol. 19(5), pages 1447-1476, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palcom:v:12:y:2025:i:1:d:10.1057_s41599-025-05142-x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: https://www.nature.com/palcomms/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.