Investigating the Factors Influencing the Acceptance of Islamic Mobile Fintech Service A Utaut2 Perspective

Abstract

The philosophy of FinTech is initially a trend all over the world to include more people in the money system, and the financial segment of Pakistan has also entered the new relativism stage drama of innovations as it witnesses a surge of financial solutions. Every now and then new mobile FinTech service providers take a stage and show amazing success. They succeed at the rate that eclipses the one of classic banking companies. Nevertheless, in the sphere of Islamic banks as the leaders on this market, they have obstacles to overcome in terms of making the great number of people appreciate the advantages of Islamic Mobile FinTech Services (MFS) in particular. With the aim of determining the factors that spur customers' promotion of using Islamic MFS in Islamic banks, this study will centre on this issue. This investigation used the modified UTAUT2 model. Database was obtained via online Google form wherein 310 Islamic Bank customers were surveyed. The next step was to put the information through the structural equation model in SMART PLS which went through the process. Research results reflect that social influence, facilitating conditions, price, and perceived credibility show that positive effects on the acceptance of Islamic MFS. However, the appearance of performance expectancy and effort expectancy does not seem to be the restraining factors for people to engage themselves in Islamic MFS. Those results offer great cognition to academicians, the researchers, the Financial Services Market providers, and the FinTech service companies.