Factors affecting the adoption of fintech digital payment services among higher education students in Malaysia / Asmahani Mohd Hanapi

FinTech is a type of financial technology which automates and enhances the financial services delivery. Numerous benefits are offered by the Fintech, yet, still the adoption is insignificant. A mix of educated people do not understand, comprehend and accept the complicated process of digital payment systems. As a result, people tend to avoid using this platform. Thus, it is very important to know the factors affecting the adoption of fintech digital payment among higher education students in Malaysia. The research aims to identify the factors that affect the adoption of Fintech digital payment services among the higher education students in Malaysia based the Unified Theory of Acceptance and Use of Technology (UTAUT). The research attempts to measure the relationship between performance expectancy, effort expectancy, social influence and facilitating condition with the adoption of Fintech digital payment services. This quantitative research method was employed via online survey of 196 accounting students at Polytechnic Kota Bharu, Kelantan and data was analysed using SPSS version 27. The result showed that 150 students (76.5%) were familiar with the Fintech digital payment. Meanwhile, the factors of performance expectancy and social influence have significant positive relationship with the adoption of Fintech digital payment. In contrast, effort expectancy and facilitating condition showed an insignificant relationship with the adoption of Fintech digital payment services. This finding indicated the people would like to shift from the traditional service to Fintech digital payment services in their daily transaction. The study offers significant insight for policymakers and Fintech services providers to develop appropriate strategies to enhance digital payment services in Malaysia.