Fintech Adoption Choices of Small Businesses: A Technology Organization Environment (TOE) Framework study

Ashish Varma


Financial technology or “FinTech” is an amalgam of the use of technology for financial transactions and processes. Fintech adoption for business processes by small businesses largely remains unexplored in the context of emerging markets. This study was conducted during late 2018 using a sample of 117 owner and managers of small businesses in India, for exploring the fintech adoption through the Technology Organization Environment (TOE) framework. The method applied for data analysis was partial least squares structural equation modeling (PLS-SEM). It was found that perceived direct benefits of fintech had a significant effect on fintech adoption. Counter-intuitively, the perceived cost of fintech adoption was not a significant factor in fintech adoption.  These results have significant managerial and academic relevance for understanding fintech adoption agenda of small businesses in the emerging markets.

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Accounting and Finance Research
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