Full Text (PDF)
Original Article

Determinants of FinTech Adoption: An Analysis of Perceptual and Behavioural Influences among Entrepreneurs in Muscat, Oman

Anitha Ravikumar, Adnan Khalfan Saif Al-Kemyani, Shaikha Nasser Ali Al-Farsi, Al-Anoud Saud Ahmed Al Busaidi, Mariya Saleh Ahmed Al-Busaidi

Author Information

Licence:

Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)

This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.



Journal of Social Welfare and Management 17(3):p 137-146, Sept. Dec. 2025. | DOI: 10.21088/jswm.0975.0231.17325.1

How Cite This Article:

Ravikumar A, Al-Kemyani AKS, et al. Determinants of FinTech adoption: an analysis of perceptual and behavioural influences among entrepreneurs in Muscat, Oman. J Soc Welfare Manag. 2025;17(3):137-46.

Timeline

Received : July 01, 2025         Accepted : December 18, 2025          Published : December 30, 2025

Abstract

The way business’s function has been dramatically altered by entrepreneurs’ use of FinTech. For instance, digital payment systems make transactions quicker and safer, lowering the need for currency and enhancing the client experience. The study aims to give policymakers, FinTech companies, and entrepreneurs practical insights by examining the functions of perceived utility, ease of use, value, service quality, regulatory support, and reputation. In the end, the research hopes to help Oman build a strong digital financial ecosystem that would allow business owners to fully use FinTech products. The study concludes that a comprehensive method tackling usefulness, value, service quality, regulatory support, and reputation is indispensable for promoting the adoption of FinTech solutions. These findings provide actionable comprehensions for FinTech developers, policymakers, and entrepreneurs targeting to influence FinTech for improved business development and innovation.


References

  • 1.   Alsedrah I. Digitalization and small & medium enterprise performance: a research to improve business practices. Business Review of Digital Revolution. 2023;3(1):20‑9.
  • 2.   Amnas MB, Selvam M, Parayitam S. FinTech and Financial Inclusion: Exploring the Mediating Role of Digital Financial Literacy and the Moderating Influence of Perceived Regulatory Support. Journal of Risk and Financial Management. 2024;17(3):108.
  • 3.   Arner DW, Barberis J, Buckley RP. The evolution of FinTech: A new post‑crisis paradigm? University of Hong Kong Faculty of Law Research Paper No. 2015/047; 2016.
  • 4.   Arslan A, Buchanan BG, Kamara S, Al Nabulsi N. Fintech, base of the pyramid entrepreneurs and social value creation. 2022.Journal of Small Business and Enterprise Development, 29(3), 335-353.
  • 5.   • Ateik AHA, Bardai BB, Alzubi MM. The mediating effect of technology competency in the intention to adopt Fintech by microfinance businesses in Yemen. Int J All Res Writ. 2020;2(10):11–9.
  • 6.   • Azman NHN, Zabri MZM, Masron TA, Malim NAK. The utilisation of Islamic fintech (I-Fintech) in promoting sustainable inclusive growth: evidence from micro-entrepreneurs in Malaysia. J Islam Monet Econ Financ. 2020;6(3):555–76.
  • 7.   • Balaskas S, Koutroumani M, Komis K, Rigou M. FinTech services adoption in Greece: the roles of trust, government support, and technology acceptance factors. FinTech. 2024;3(1):83–101.
  • 8.   • Barbu CM, Florea DL, Dabija DC, Barbu MCR. Customer experience in FinTech. J Theor Appl Electron Commer Res. 2021;16(5):1415–33.
  • 9.   • Basar SA, Ibrahim NA, Tamsir F, Rahman ARA, Zain NNM, Poniran H, et al. I-FinTech adoption mediation on the financial literacy elements and sustainable entrepreneurship among Bumiputera MSMEs in Malaysia. Int J Econ Financ Issues. 2024;14(4):138–47.
  • 10.   • Chen S, Li X, Wu Y. FinTech and entrepreneurship: evidence from China. J Financ Intermed. 2019;39:100830.
  • 11.   • Cohen J. Statistical power analysis for the behavioral sciences. 2nd ed. Hillsdale (NJ): Lawrence Erlbaum Associates; 1988.
  • 12.   • Davis FD. Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Q. 1989;13(3):319–40.
  • 13.   • High Impact Practices in Family Planning (HIPs). Economic empowerment: a pathway for women’s wellness care [Internet]. Washington (DC): HIPs; 2021 •
  • 14.   Fernando J. Financial literacy: what it is, and why it is so important to teach teens [Internet]. New York: Investopedia;
  • 15.   • Grant M. Financial inclusion: definition, examples, and why it’s important [Internet]. New York: Investopedia; 2024
  • 16.   • Haddad C, Hornuf L. The emergence of the global FinTech market: economic and technological determinants. Small Bus Econ. 2019;53(1):81–105.
  • 17.   • Hair JF, Black WC, Babin BJ, Anderson RE, Tatham RL. Multivariate data analysis. 7th ed. Upper Saddle River (NJ): Pearson Education; 2010.
  • 18.   • Hayes A. Blockchain facts: what is it, how it works, and how it can be used [Internet]. New York: Investopedia;
  • 19.   • Hu Z, Ding S, Li S, Chen L, Yang S. Adoption intention of FinTech services for bank users: an empirical examination with an extended technology acceptance model. Symmetry. 2019;11(3):340.
  • 20.   • Jessika YR, Suhardiyah M, Estiasih SP, Saraswati RA, Amna LS. Career women’s interest in using financial technology. Int J Econ Bus Innov Res. 2024;3(1):256–72.
  • 21.   • Jin CC, Seong LC, Khin AA. Factors affecting the consumer acceptance towards FinTech products and services in Malaysia. Int J Asian Soc Sci. 2019;9(1):59–65.
  • 22.   • Kagan J. Financial technology (Fintech): its uses and impact on our lives [Internet]. New York: Investopedia;
  • 23.   • Kagan J. What is Peer-to-Peer (P2P) lending? Definition and how it works [Internet]. New York: Investopedia; 2024
  • 24.   • Kalmykova EY, Ryabova A. FinTech market development perspectives. In: SHS Web of Conferences. Vol. 28: Research Paradigms Transformation in Social Sciences (RPTSS 2015). Les Ulis (France): EDP Sciences; 2016. p. 1051.
  • 25.   • Karim RA, Sobhani FA, Rabiul MK, Lepee NJ, Kabir MR, Chowdhury MAM. Linking FinTech payment services and customer loyalty intention in the hospitality industry: the mediating role of customer experience and attitude. Sustainability. 2022;14(24):16481.
  • 26.   • Khera P, Ogawa S, Sahay R, Vasishth M. Women in fintech: as leaders and users. Washington (DC): International Monetary Fund; 2022. (IMF Working Paper; no. WP/22/140).
  • 27.   • Kou G, Xu Y, Peng Y, Shen F, Chen Y, Chang K. The application of FinTech in promoting financial inclusion in developing countries: a theoretical analysis and empirical evidence. Financ Innov. 2021;7:1-20.
  • 28.   • Lee I, Shin YJ. FinTech: ecosystem, business models, investment decisions, and challenges. Bus Horiz. 2018;61(1):35–46.
  • 29.   • Moreira-Santos D, Au-Yong-Oliveira M, Palma-Moreira A. Fintech services and the drivers of their implementation in small and medium enterprises. Information. 2022;13(9):409.
  • 30.   • Ozili PK. Impact of digital finance on financial inclusion and stability. Borsa Istanb Rev. 2018;18(4):329–40.
  • 31.   • Parasuraman A, Zeithaml VA, Berry LL. SERVQUAL: a multiple-item scale for measuring consumer perceptions of service quality. J Retail. 1988;64(1):12–40.
  • 32.   • Pham TTH, Le TL, Dinh TH, Pham TTH. FinTech knowledge as drivers of higher education students’ FinTech entrepreneurial intentions: insights from stimulus-organism-response theory. Int J Manag Educ. 2024;22(3):101027.
  • 33.   • Pratama J. Analysis of factors affecting trust on the use of FinTech (P2P lending) in Indonesia. J Sisfokom (Sist Inf Komput). 2021;10(1):79–85.
  • 34.   • Puschmann T. FinTech. Bus Inf Syst Eng. 2017;59(1):69–76.
  • 35.   • Rahman M, Gazi MAI, Bhuiyan MA. FinTech adoption in developing countries: determinants and challenges. J Financ Bank Rev. 2020;5(1):11–22.
  • 36.   • Ryu HS, Ko KS. Sustainable development of Fintech: focused on uncertainty and perceived quality issues. Sustainability. 2020;12(18):7669.
  • 37.   • Coursera Staff. What is finance management? [Internet]. [place unknown]: Coursera; 2023
  • 38.   • Stenberg A. What does innovation mean—a term without a clear definition [bachelor's thesis]. Halmstad (Sweden): Halmstad University; 2017.
  • 39.   • Suri T, Jack W. The long-run poverty and gender impacts of mobile money. Science. 2016;354(6317):1288–92.
  • 40.   • Tavakol M, Dennick R. Making sense of Cronbach’s alpha. Int J Med Educ. 2011;2:53–5.
  • 41.   • Taylor K. The digital divide: what it is, and what’s being done to close it [Internet]. New York: Investopedia; 2024
  • 42.   • Investopedia Team. What is a robo-advisor? [Internet]. New York: Investopedia; 2024:
  • 43.   • Tobin D. What is data privacy—and why is it important? [Internet]. [place unknown]: Integrate.io; 2021
  • 44.   • Valverde SC, Fernández FR. Financial digitalization: banks, FinTech, bigtech, and consumers. J Financ Manag Mark Inst. 2020;8(1):2040001.
  • 45.   • Venkatesh V, Morris MG, Davis GB, Davis FD. User acceptance of information technology: toward a unified view. MIS Q. 2003;27(3):425–78.
  • 46.   • University of Nevada, Las Vegas (UNLV). What are digital skills & why are they important? [Internet]. Las Vegas (NV): UNLV;
  • 47.   • Zhou T. Understanding online community user participation: a social influence perspective. Internet Res. 2011;21(1):67–81.

Data Sharing Statement

There are no additional data available. All raw data and code are available upon request.

Funding

This research received no funding.

Author Contributions

Whether all authors contributed significantly to the work and approve its publication.

Ethics Declaration

This article does not involve any human or animal subjects, and therefore does not require ethics approval.

Acknowledgements

We would like to express our gratitude to the patients, their families, and all those who have contributed to this study.

Conflicts of Interest

The authors report no conflicts of interest in this work.


About this article


Cite this article

Ravikumar A, Al-Kemyani AKS, et al. Determinants of FinTech adoption: an analysis of perceptual and behavioural influences among entrepreneurs in Muscat, Oman. J Soc Welfare Manag. 2025;17(3):137-46.


Licence:

Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)

This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.



Received Accepted Published
July 01, 2025 December 18, 2025 December 30, 2025

DOI: 10.21088/jswm.0975.0231.17325.1

Keywords

EntrepreneursFintechPerceived UtilityEase of UseValueService QualityRegulatory SupportReputation

Article Level Metrics

Last Updated

Tuesday 16 June 2026, 23:25:40 (IST)


1088

Accesses

18
110
00

Citations


NA
NA
NA

Download citation


Article Keywords


Keyword Highlighting

Highlight selected keywords in the article text.


Timeline


Received July 01, 2025
Accepted December 18, 2025
Published December 30, 2025

licence


Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)

This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.



Access this article



Share