Business

Communication dynamics: Fintech's role in promoting sustainable cashless transactions

W. Huo, W. Xiohui, et al.

This study explores how communication dynamics, financial literacy, and personal innovativeness influence the adoption of cashless transactions in Pakistan. It highlights the vital role of fintech in enhancing financial inclusion and improving living conditions. Research conducted by Weidong Huo, Wang Xiohui, Muhammad Zulfiqar, Ahmed Chand, and Muhammad Rizwan Ullah reveals intriguing insights into the relationship between intentions and actual cashless transaction behavior.

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Abstract

This study investigates the interplay between communication dynamics, Fintech use, intentions, cashless transactions adoption, financial literacy, personal innovativeness, and socioeconomic development in Pakistan. Using PLS-SEM and a Probit Model alongside Propensity Score Matching, the study analyzes data from 394 small business owners and informal sector workers. Findings reveal that intentions to use cashless transactions mediate the relationship between Fintech use and actual cashless transaction behavior. Financial literacy and personal innovativeness act as critical moderating factors. Cashless transaction adoption enhances financial inclusion, positively impacting sustainable livelihoods, living conditions, and social development.

Publisher

HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS

Published On

Oct 15, 2024

Authors

Weidong Huo, Wang Xiohui, Muhammad Zulfiqar, Ahmed Chand, Muhammad Rizwan Ullah

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