Financial technology adoption among small and medium enterprises in Ghana

“…behaviour intention to predict use. the primary studies for technology acceptance and use are dominated by the information technology perspective (Davis, 1989; Venkatesh et al., 2012). the main aim of this study is to understand the impact of behaviour intention on actual use from the…”

“…2 . the r 2 is a measure of the model’s explanatory ability and represents the variation explained in each of the endogenous constructs. according to hair et al. (2013, 2019), R 2 values of 0.75, 0.50, and 0.25, respectively, can be classified as substantial, moderate, or weak. the R 2 value in…”

“…follows: h2. perceived ease of use positively affects adoption of fintech services by smes. furthermore, it has been suggested by Davis (1989) and Venkatesh et al. (2012) that the perception of ease of use has a favourable influence on the perception of utility. it is widely acknowledged that…”

“…were examined. it is satisfactory if an individual item factor loading is greater than 0.7, composite reliability exceeds 0.7, and aVe exceeds 0.5 (gefen et al., 2003). hair et al. (2017) suggest that factor loading greater than 0.60 is acceptable in exploratory research as depicted in table 2.…”

“Between 0.70 and 0.90 range from satisfactory to good. aVe exceeding 0.5 is reliable (hair et al., 2017). cronbach’s alpha greater than 0.7 is reliable (hair et al., 2013) and if it is above 0.60 is also acceptable in exploratory research (azlis-sani et al., 2013).”

“…scholarly attention, is considered a significant influence in the adoption of technology, as revealed by earlier studies (Venkatesh et al., 2012; Venkatesh & morris, 2000). the inclusion of these variables in the present study serves to strengthen its practical implication as it is common in…”

“…need to examine the average variances extracted (aVe), composite reliabilities (cr), item loading’s size and significance, and discriminant validity (liang et al., 2007). cronbach’s alpha and the composite reliability test revealed that all constructs presented a value above the threshold 0.7 for…”

“…to utilise and that the system should not be complex to encourage its adoption (rogers, 1995). this means to utilise a specific type of innovation; little exertion ought to be required by the user (rasheed et al., 2019). this exertion can be physical and mental (Davis, 1989; taylor & todd, 1995).”

“…to which an individual believes that implementing technology would improve job performance is referred to as perceived usefulness (Davies, 1989; mathwick et al., 2001; Verma et al., 2023) and reduce cost and bureaucratic processes (contreras pinochet et al., 2019) and time saving (Balcázar &…”

“…attitude on their behaviours is arbitrated through the process of filtering information and forming their perspective of the environment (Dwivedi et al., 2019; Kim et al., 2009). furthermore, the tam posits that an individual’s inclination to adopt a new technology is contingent upon…”

“…coordinate the services into their everyday exercises (Kleijnen et al., 2004) and how it can upgrade their transaction (chen, 2008). according to luarn and lin (2005), the ultimate aim users exploit fintech is that they can find them helpful. the empirical examination of the impact of perceived…”

“…et al., 2023) and reduce cost and bureaucratic processes (contreras pinochet et al., 2019) and time saving (Balcázar & rivas, 2021). according to Vijayasarathy (2004), perceived usefulness will show that using a given technology might be helpful for someone to accomplish a specific outcome in…”

“…et al., 2023). this aligns with the claims made by a number of studies (adamek & solarz, 2023; Balcázar & rivas, 2021; ebrahim et al., 2021; hu et al., 2019; marakarkandy et al., 2017; singh et al., 2020; Verma et al., 2023), as it confirms the significance of perceived usefulness in…”

“…use has been identified as a significant predictor of an individual’s cognitive preparedness to engage in a specific behaviour (Kosasi et al., 2019; shin, 2010). in a more precise sense, intention to use refers to the feeling to implement a systematic approach to work, employ efficient methods for…”

“…for the latter as it only makes sense to assess the structural model when the measurement model indicates evidence of reliability and validity (henseler, 2017). the smartpls 3.3.3 version software was set to 500 bootstrap samples to estimate the significance of the t-values (chin, 2010).”

“the examination of the Variable inflation factor (Vif) values is the first step in the structural model assessment (hair et al., 2022). the Vif values were less than 3 as shown in table 4, indicating that the data has no multicollinearity concerns (hair et al., 2022).”

“…will show that using a given technology might be helpful for someone to accomplish a specific outcome in the online environment. furthermore, lópez-nicolás et al. (2008) accept that the system ought to have the option to help the consumer to carry out a job easier, quicker and of better…”

“…the combination of the words ‘finance’ and ‘technology’ (Balcázar & rivas, 2021). it has gained significant popularity within the financial sector (gai et al., 2018; nurqamarani et al., 2021) due to the profound impact that technological advancements have had on the range of services provided by…”

“…as how well smes believe can coordinate the services into their everyday exercises (Kleijnen et al., 2004) and how it can upgrade their transaction (chen, 2008). according to luarn and lin (2005), the ultimate aim users exploit fintech is that they can find them helpful. the empirical examination…”

“…intelligence, iot, and cloud computing (lee & shin, 2018). these services aim to disrupt the traditional methods of offering financial products (milian et al., 2019) and expands payments, credit, wealth management, and insurance in advanced, emerging markets and developing economies…”

“…perceived usefulness in the adoption of fintech is characterised as how well smes believe can coordinate the services into their everyday exercises (Kleijnen et al., 2004) and how it can upgrade their transaction (chen, 2008). according to luarn and lin (2005), the ultimate aim users exploit…”

“…its direct impact on adoption, perceived usefulness has been found to play a mediating function in other areas, as evidenced by studies conducted by Burton-Jones and hubona (2006), henderson and Divett (2003), purnawirawan et al. (2012a), Xia and Bechwati (2008), and hussein et al. (2019). an…”

“…use. also, intention to use has been found to predict actual behaviour (al-maghrabi & Dennis, 2011; ravichandran et al., 2010; Venkatesh et al., 2012; yiu et al., 2007). ajzen (2006) theorize that person’s behaviour is coordinated by three thoughts: first, behavioural beliefs, which are…”

“…the concept of perceived usefulness, as previously mentioned, pertains to the potential benefits that a technology may offer in everyday encounters (singh et al., 2020). the significance of perceived usefulness is underscored by empirical research, as it has been found to have a direct association…”

“…and software. extensive studies have reported proof of the critical impact of perceived ease of use on user behavioural intentions (Davis, 1989; guriting & Oly ndubisi, 2006). it is imperative that fintech should not be difficult to use both by the young and the old, the educated and…”

“…indeed, existing studies have also provided evidence for the mediating function of perceived usefulness, as demonstrated by studies conducted by purnawirawan et al. (2012b), hussein et al. (2019), and chawla and Joshi (2023). another interestingly revelation was the variable intention to use…”

“…willing to adopt to fintech services, and this may suggest that users tend to focus on the usefulness of the technology itself. this is supported by shroff et al. (2011) who found that perceived ease of use has a significant positive impact of perceived usefulness. thus, the following hypothesis…”

“…in other areas, as evidenced by studies conducted by Burton-Jones and hubona (2006), henderson and Divett (2003), purnawirawan et al. (2012a), Xia and Bechwati (2008), and hussein et al. (2019). an empirical study conducted by Burton-Jones and hubona (2006) discovered that the perceived…”

“…sole proprietorship business, 14.6% were limited liability company and 11.3% were involved in partnership business. this result is consistent with ayyagari et al. (2014) findings that, smes in developing countries such as ghana are deemed to be sole proprietorship. also, 12.3% of the respondents…”

“…the tam have revealed inconsistent findings regarding the role of attitude in the relationships between perceived usefulness and perceived ease of use, as well as behavioural intention and actual system use (Balcázar & rivas, 2021; Dwivedi et al., 2019; Kim et al., 2009; singh et al., 2020).”

“…usefulness has been found to play a mediating function in other areas, as evidenced by studies conducted by Burton-Jones and hubona (2006), henderson and Divett (2003), purnawirawan et al. (2012a), Xia and Bechwati (2008), and hussein et al. (2019). an empirical study conducted by…”

“…primarily on the adoption of fintech payment services. these studies, such as those conducted by ebrahim et al. (2021), singh et al. (2020), and tan and leby lau (2016), have overlooked the significant role of attitude towards use and intention to use as crucial factors in relation to the…”

“…to the characteristics of the unit of analysis, this model has emerged as one of the most extensively utilised in the realm of scholarly investigation (Zhang et al., 2018). in order to investigate what motivates fintech adoption, this study categories the constructs along two dimensions:…”

“…and statistically significant relationship between individuals’ attitudes towards a specific technology. the findings of chuang et al. (2016), marakarkandy et al. (2017), and hu et al. (2019) indicate that users’ attitudes play a significant role in the adoption of fintech services. the…”

“…the covid-19 pandemic protocols, and most managers in the smes sector prefer sending them emails and calls rather than meeting them physically. the aforementioned methodology for data gathering is considered suitable in the context of interruptions caused by a pandemic (nugraha et al., 2022).”

“…of use, has been identified as having more robust associations with the multiple factors that impact the adoption of technology in various contexts (Kim et al., 2021; Venkatesh & morris, 2000). in addition to its direct impact on adoption, perceived usefulness has been found to play a mediating…”

“…processing systems plays a mediating role in individuals’ perception of ease of use, as well as their frequency and duration of usage. similarly, chawla and Joshi (2023) have identified that perceived usefulness mediates the effect of perceived ease of use on technology adoption. in other…”

“…in sub-saharan africa to establish a cellular network, therefore making it one of the pioneering nations on the african continent as a whole (coffie et al., 2021). furthermore, the prioritization of information and communication technology (ict) in 1992, along with the establishment of the…”

“…most suitable approach for doing this analysis, as it provides an explanation and prediction of individual users’ adoption of information technology (it) (putri et al., 2023; Zulfikri et al., 2023). given the efficacy of the tam in elucidating individuals’ desire to adopt a specific technology,…”

“…confirm that the measurement items adequately explain their respective constructs more than they do explain other constructs in the structural model. radomir and moisescu (2020) and shafique and majeed (2020) suggest that discriminant validity can be accepted when the difference between the…”

“…research conducted by marakarkandy et al. (2017). however, this attitude towards use might be influenced by factors such as the perceived usefulness (huei et al., 2018). consequently, this subsequently brings us to the subsequent hypotheses: h8. the attitude of smes towards the use of fintech…”

“…to utilise and that the system should not be complex to encourage its adoption (rogers, 1995). this means to utilise a specific type of innovation; little exertion ought to be required by the user (rasheed et al., 2019). this exertion can be physical and mental (Davis, 1989; taylor & todd, 1995).”

“…influence one’s intention to use it. it can be said that the certainty of a person attitude will affect someone’s intention to use fintech services (akinwale & Kyari, 2022). according to meyliana et al. (2019), attitude is a very significant ingredient to customer’s intent to act favourable…”

“…refers to the integration of technology and finance, providing innovative solutions to organisations, including smes (nurqamarani et al., 2021). according to hsueh and Kuo (2017), fintech applications encompass several examples such as crowd-funding, peer-to-peer lending, and payment settlement.”

“…of smes to use fintech services to a greater extent. certainly, despite the contrasting findings in various researches (Balcázar & rivas, 2021; contreras pinochet et al., 2019; singh et al., 2020; Verma et al., 2023), it has been demonstrated that during the initial phase of technology…”

“…(milian et al., 2019) and expands payments, credit, wealth management, and insurance in advanced, emerging markets and developing economies (Verma et al., 2023). however, the scale of adoption differs widely in the context of developing countries (frost, 2020). this study investigates the…”

“…nurqamarani et al., 2021) due to the profound impact that technological advancements have had on the range of services provided by financial institutions (adamek & solarz, 2023; edo et al., 2023). fintech services have emerged as innovative alternatives that utilise internet and automated data…”

“…Development program in 2003, led to the introduction of the inaugural biometric payment system known as ‘e-zwich’ in 2008 (Des nations Unies, 2018; tetteh et al., 2021). the aforementioned factor has played a significant role in the heightened utilization of peer-to-peer fintech payment systems.…”

“in the past decade, the financial industry has experienced many changed and development (nurqamarani et al., 2021). traditional banks have transformed significantly over the previous decade and, simultaneously, new financial service ideas have arisen. the innovations in technology have resulted in…”

“…dependent variable in the present study is the actual use of fintech services, which is regarded a crucial factor for their success (Venkatesh et al., 2012; yoon et al., 2023). the factor of actual usage, which has received less scholarly attention, is considered a significant influence in the…”

“…is likely to experience a trajectory rise among smes as many nonadopters already use of fintech services (ernst & young global limited, 2019; huong et al., 2021; nugraha et al., 2022). from an empirical perspective, whilst studies proliferate on the factors that influence adoption of…”

“…sector to gain a comprehensive understanding of the amount of customer acceptance towards the adoption of technology in financial services (santini et al., 2023). the advent of fintech has significantly transformed the corporate environment. fintech refers to the integration of technology…”

“…is particularly relevant due to the notable rise in the adoption and utilisation of fintech in ghana, as evidenced by previous research conducted by yeboah et al. (2020) and coffie et al. (2021). the consideration of these two factors holds significant importance within the context of this study…”

“…degree to which a user likes or dislikes using technology (Davis, 1989). according to the traditional tam, previous studies (Balcázar & rivas, 2021; ebrahim et al., 2021) have established a strong and statistically significant relationship between individuals’ attitudes towards a specific…”

“…due to the profound impact that technological advancements have had on the range of services provided by financial institutions (adamek & solarz, 2023; edo et al., 2023). fintech services have emerged as innovative alternatives that utilise internet and automated data processing along with…”

“…adequately explain their respective constructs more than they do explain other constructs in the structural model. radomir and moisescu (2020) and shafique and majeed (2020) suggest that discriminant validity can be accepted when the difference between the constructs is too minor. regarding…”

“…of intention to use has been identified as a significant predictor of an individual’s cognitive preparedness to engage in a specific behaviour (Kosasi et al., 2019; shin, 2010). in a more precise sense, intention to use refers to the feeling to implement a systematic approach to work, employ…”

“…was suitable for this study it helps the researcher ensure that, key topics were explored with a greater number of participants (Babbie, 2008; tetteh et al., 2023). a likert scale which ranged from 1 = strongly disagree to 5 = strongly agree, was used. the questions were adapted from…”

“Between 0.70 and 0.90 range from satisfactory to good. aVe exceeding 0.5 is reliable (hair et al., 2017). cronbach’s alpha greater than 0.7 is reliable (hair et al., 2013) and if it is above 0.60 is also acceptable in exploratory research (azlis-sani et al., 2013).”

“…indeed, existing studies have also provided evidence for the mediating function of perceived usefulness, as demonstrated by studies conducted by purnawirawan et al. (2012b), hussein et al. (2019), and chawla and Joshi (2023). another interestingly revelation was the variable intention to use…”

“…it can be said that the certainty of a person attitude will affect someone’s intention to use fintech services (akinwale & Kyari, 2022). according to meyliana et al. (2019), attitude is a very significant ingredient to customer’s intent to act favourable towards adoption of fintech. thus, the…”

“From the literature review, it emerged that several authors have used the Technology Acceptance Model (TAM) as a theoretical framework for investigating determinants of technology adoption (Asante Boakye et al. 2023; Atta-Ankomah 2024; Doe et al. 2017 Krah et al. 2024).”

“…development. these findings are similar to the findings of the study conducted in indonesia by syauqi et al. (2023), and other countries in africa (Krah et al., 2024; lontchi et al., 2023; sanga & aziakpono, 2023; sharma et al., 2024). as seen from the literature above, Fintech improves sMEs’…”

“AMA was selected due to its heterogeneous and cosmopolitan population characteristics (Krah & Mertens, 2020b; Krah et al., 2024).”

“The finding of the study shows that PEOU (Std Beta = 0.039, p = 0.58) have no positive impact on FA, which is consistent with the findings of Krah et al. [66].”

“This result is different from (Steenkamp et al., 2023) but in line with the results of previous research studied by (Al-Hattami & Almaqtari, 2023; Krah et al., 2024; Shihab et al., 2017).”

“Government-led interventions such as mobile money interoper - ability (MMI), the Ghana Interbank Payment and Settlement Systems and digital identity platforms have expanded access to financial services, particularly for underbanked populations (Krah et al., 2024).”

“According to Krah et al. (2024), this approach enables researchers to collect data from many respondents.”

“This finding supports previous research that found similar results (Krah et al., 2024).”