From Likes to Wallets: Exploring the Relationship Between Social Media and FinTech Usage

Mindy Joseph, Congrong Ouyang and Kenneth J. White ()
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Mindy Joseph: School of Consumer Sciences, Kansas State University, Manhattan, KS 66506, USA
Congrong Ouyang: Department of Agricultural Economics, Texas A&M University, 600 John Kimbrough Blvd, TAMU 2124, College Station, TX 77843, USA
Kenneth J. White: Norton School of Human Ecology, University of Arizona, Tucson, AZ 85721, USA

FinTech, 2025, vol. 4, issue 3, 1-29

Abstract: This study uses national data to contribute to ongoing discussions regarding social media’s role in influencing investors in the digital economy. Grounded in social network theory, social media engagement was examined for its influence on FinTech usage, specifically cryptocurrency investments, mobile trading applications, and financial podcasts. Results showed a significant relationship between social media use for investment decisions and the embrace of FinTech. Individuals who actively engage with social media for this purpose had higher odds of investing in cryptocurrency and a higher likelihood of using both mobile trading applications and financial podcasts. However, these results were not consistent across all platforms amongst social media users. Our findings show that social media platforms enable peer influence and recommendations through networks that shape financial decisions and behaviors. FinTech firms can strategically harness social ties and the inherent information flows within social networks to broaden their reach and impact in the financial services landscape.

Keywords: social media; FinTech; social network theory; cryptocurrency investing; mobile trading apps; financial podcasts (search for similar items in EconPapers)
JEL-codes: C6 F3 G O3 (search for similar items in EconPapers)
Date: 2025
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