Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

Cephas Paa Kwasi Coffie, Zhao Hongjiang, Isaac Adjei Mensah, Rebecca Kiconco and Abraham Emuron Otim Simon

Information Technology for Development, 2021, vol. 27, issue 3, 539-560

Abstract: Despite the potency of Financial Technology (FinTech) in facilitating financial inclusion, the determinants of the diffusion in Small and Medium-Sized Enterprises (SMEs) remain intricate. Consequently, the study assesses the determinants of the diffusion of FinTech Payment Services (mobile money, card, and online payments) by SMEs in the context of Ghana. We sample 407 registered SMEs with the Association of Ghanaian Industries (AGI) and employ hierarchical logistic regression models to explore the multiplicative effects of SMEs Chief Executive Officers Characteristics (CEOC), Business Characteristics (BUSC), and FinTech Payment Service Characteristics (FPSC) on the Diffusion of FinTech Payment Services (DFPS). Consistent with the technology diffusion theories, the finding reveals that CEOC, BUSC, and FPSC altogether determines the DFPS in Ghanaian SMEs. Thus, the combined effects of human, business, and technology actors drive the DFPS in SMEs. Therefore, the optimal design of FinTech services is critical for mass diffusion by SMEs in emerging economies.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://hdl.handle.net/10.1080/02681102.2020.1840324 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:titdxx:v:27:y:2021:i:3:p:539-560

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/titd20

DOI: 10.1080/02681102.2020.1840324

Access Statistics for this article

Information Technology for Development is currently edited by Sajda Qureshi

More articles in Information Technology for Development from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().