Factors affecting middle eastern countries' intention to use financial technology

Abstract

Financial technology, also known as Fintech, continues to transform the financial services sector globally. Fintech adoption has been delayed in some places, particularly in the Middle East, despite the potential positive benefits. This study investigates the mediating effect of perceived ease of use on the relationship between seamless transactions, financial risk, legal risk, security risk, perceived risk, and the intention to use financial technology in Middle Eastern countries. Data was collected from 500 respondents from five Middle Eastern countries (Jordan, Kuwait, Saudi Arabia, Qatar, and the United Arab Emirates) using a structured questionnaire, and partial least squares structural equation modelling (PLS-SEM) was used to test the research model. The findings demonstrate that perceived ease of use strongly mediates the links between seamless transactions, financial risk, legal risk, security risk, perceived risk, and the intention to use financial technology. The study shed light on the significance of perceived ease of use in influencing people's intention to utilize financial technology as well as the function it serves in minimizing the effects of perceived risks. The findings of this study could be useful for financial technology companies operating in Middle Eastern countries, policymakers, and researchers interested in the adoption of financial technology.