Developing A Financial Technology (FinTech) Adoption Scale: A Validity and Reliability Study

The aim of this study is to develop a FinTech adoption scale since no valid and reliable specific FinTech adoption scale is available in the literature. The research sample was 406 individual financial service users over 18. The construct validity of the scale was examined by EFA and CFA. The EFA results discovered a five-dimensional (perceived utility, trust, perceived ease of use, attitude towards FinTech, and social impact) structure. The CFA results also confirmed the results of EFA. In reliability analysis, the Cronbach's Alpha coefficients and, composite reliability measures were quite high and above the limit of 0.70. This study pioneers the literature as proposing a guiding robust scale to measure individuals' fintech adoption. The findings offer important implications for policymakers as policymakers may use this tool to create targeted policies that will improve financial inclusion and innovation while preserving the stability of global financial ecosystems.