A study of Indian Gen X and Millennials consumers’ intention to use FinTech payment services during COVID-19 pandemic
Journal of Modelling in Management
ISSN: 1746-5664
Article publication date: 14 July 2022
Issue publication date: 29 May 2023
Abstract
Purpose
Amid the COVID-19 contamination, people are bound to use contactless FinTech payment services. Because of restrictions on physical movement and avoidance of touching physical money, people willingly choose mobile payment, resulting in enormous growth in FinTech payment service industries. Because of this, this study aims to examine the effect of factors affecting Gen X and Millennials users to use FinTech payment services.
Design/methodology/approach
The authors used 328 responses collected through convenience sampling of Indian users aged between 26 and 57 years in the Delhi-NCR region who are users of FinTech payment services.
Findings
The authors’ findings verified that in India, perceived COVID-19 risk, perceived severity for COVID, individual mobility, subjective norms, perceived ease of use and perceived usefulness have statistically significant impacts on FinTech payment services during the COVID-19 pandemic. Structural equation modelling was used to study the proposed research model. Overall, the model predicted 76.9 % of the variation in intention to use FinTech payment services by the abovesaid variables by Indian users during a pandemic.
Practical implications
This study will provide valuable insight to all FinTech service providers and stakeholders in planning and designing the concerned policy. It will be able to draw the attention of users more.
Originality/value
This research added a valuable theory to the existing technology adoption model (TAM) theory. It demonstrated the utility of the above variables in adopting and using FinTech payment services, which will help service providers to develop future strategies because of the COVID-19 pandemic.
Keywords
Citation
Singh, A.K. and Sharma, P. (2023), "A study of Indian Gen X and Millennials consumers’ intention to use FinTech payment services during COVID-19 pandemic", Journal of Modelling in Management, Vol. 18 No. 4, pp. 1177-1203. https://doi.org/10.1108/JM2-02-2022-0059
Publisher
:Emerald Publishing Limited
Copyright © 2022, Emerald Publishing Limited