MECHANISMS OF CONSUMER FINTECH ADOPTION: EVIDENCE FROM A STREAMLINED TAM3 IN CHONGQING

Abstract

As the primary network medium for integrating digital technology into daily life, FinTech faces variations in institutional and infrastructural conditions caused by regional heterogeneity, as well as differences in digital literacy resulting from population diversity. This results in a diverse range of FinTech application types and usage purposes worldwide. Considering the current central hub of FinTech users globally, a dynamic cognitive gap exists in the adoption behaviour of Chinese consumers. This study was conducted in Chongqing, where government and non-governmental organisations actively participate in FinTech activities. Using the Technology Acceptance Model 3, a cross-sectional design was employed, with 368 valid online samples collected over one month, and analysed through SEM structural equation modelling. The findings indicated that Image and Result demonstrability influence the intention and behaviour of Chongqing residents to adopt FinTech by affecting perceived usefulness. External Control Perception, Computer Playfulness, and Objective Usability also impact these aspects by affecting Perceived ease of use. The study revealed that the penetration of FinTech services such as insurance and wealth management remains inadequate. Additionally, the frequency of Fintech use and the proportion of elderly users showed no significant differences compared to other populations. This research enhances global FinTech adoption theory, emphasising the need to strengthen the verifiability of FinTech results and perceived external control to facilitate universal application.