Intention to use fintech services: An investigation into the moderation effects of quality of internet access and digital skills

Abstract

This paper aims to investigate the moderating influence of the quality of access to internet and digital skills on the factors that influence the intention to use fintech services among the young working population in India. We use the Theory of Planned Behavior to examine the intention to adopt financial technology in a rapidly technologically transformative Indian landscape. We conducted an empirical investigation on 324 young workers in India using the survey method. The TPB model's relevance in an Indian context is validated. Attitude, perceived behavioral control, and subjective norms together accounted for 48.7% of the variation in the intention to use fintech services. The quality of internet access significantly moderated the positive effect of young workers' attitudes on their intention to use fintech. Digital skills significantly moderated the positive effects of attitude and perceived behavioral control on intentions to use fintech services. India is considered a very fast adopter of digital technology. In India, the use of electronic channels in financial service delivery is on the rise. With the wide geographic dispersion and huge population, the quality of internet access and digital skills can influence the intention to use fintech services. There can be vast differences in the behavioral mindset of people in a developing country like India compared to that of a developed one regarding the use and adoption of digital platforms for accessing financial services. Developers and regulators must adopt approaches and policies that consider these behavioral factors. This paper examines the Theory of Planned Behaviour in the context of a rapidly transforming behavioural context in India with the adoption of technology-based financial services. The importance of quality internet access and digital skills as factors moderating the adoption of technology is examined in this paper, unlike many previous studies.