Analysis of mobile fintech adoption based onperceived value and risk theory: findings from PLSSEM and fsQCA

Abstract

The rapid evolution of the financial sector, driven by fintech innovations underscores the
importance of understanding the factors influencing mobile fintech adoption, especially in
light of privacy and security concerns that hinder user acceptance. This study bridges a gap in
the existing literature by proposing an integrated model synthesising perceived value and risk
theories, offering a comprehensive framework for analysing mobile fintech adoption.
Employing a dual-method approach that integrates Partial Least Squares Structural Equation
Modelling (PLS-SEM) and fuzzy-set Qualitative Comparative Analysis (fsQCA), this study
empirically investigates the interplay of various value and risk factors affecting adoption
intentions among Chinese users. The PLS-SEM results reveal that the integrated model
substantially enhances explanatory power, accounting for 46.27% of the variance in mobile
fintech adoption. Utilitarian value, social value, performance risk, and time risk show statistically significant net effects on adoption. The fsQCA results identify seven distinct configurations associated with high-level mobile fintech adoption, and eight causal paths giving rise
to its negation, highlighting the complexity of decision-making processes in this context.
These findings have significant implications for both academic discourse and practical
applications, advocating for the adoption of multifactorial frameworks in future studies to
enhance understanding of technology acceptance in dynamic environments.