Advances in Consumer Research
Issue 2 : 675-684
Original Article
Fintech Adoption and It's Impact on Financial Inclusion in Rural and Semi Urban Areas
1
Professor of Economics Vivekananda Institute of Professional Studies TC, Delhi
Abstract

This paper discusses the levels of fintech adoption and its effects on financial inclusion in rural and semi-urban regions based on primary data gathered through 600 participants in two spatial groups. Analysis demonstrates that the core fintech services awareness is not even and semi urban areas report higher awareness levels (68-86%) than rural regions (42-61%). The level of fintech adoption is observed to be much higher in semi-urban than rural areas with the mean adoption score of 3.49 and 2.98, respectively, one can state that the digital divide is still present. The results of the regression indicate that availability of digital infrastructure, financial literacy, and perceived ease of use and trust are all jointly predictors of more than 50 percent of the variance in fintech adoption. Subsequent analysis has shown that the adoption of fintech explains almost 50 percent of the observed difference in the financial inclusion outcomes, and the larger influences are found on access to financial services rather than on the affordability of financial services. The independent sample tests allow establishing statistically significant differences in both fintech adoption and financial inclusion among rural and semi-urban respondents. The results indicate that although fintech has improved financial inclusion, the benefits are unevenly distributed, and it is necessary to implement specific policy responses to improve infrastructure development and digital financial illiteracy in rural settings

Keywords
Recommended Articles
Original Article
“Beyond the Paycheck”: A theoretical study of how Compensation Influences Generation Z’s career decision-making and employers' retention strategies
...
Original Article
Influence Of Diversity Climate On Employee Well-Being
...
Original Article
Determinants Of Financial Inclusion Among Women Self-Help Group Members: Evidence From Coastal Karnataka
Original Article
Blockchain Technology in Banking: An Empirical Study on Challenges and Opportunities Perceived by Bank Managers in Gujarat
Loading Image...
Volume 3, Issue 2
Citations
1369 Views
516 Downloads
Share this article
© Copyright Advances in Consumer Research