Factors Influencing FinTech Adoption by Productive Family Enterprises: Evidence from Saudi Arabia

Abstract

Financial Technology (FinTech) plays an important role in advancing financial inclusion and digital transformation in Saudi Arabia. However, little is known about FinTech adoption among home-based productive family businesses. This study examines the factors influencing FinTech adoption intention for services such as mobile payments, digital wallets, and mobile banking applications. The study addresses the following research question: What factors influence FinTech adoption intention among home-based productive family businesses in Saudi Arabia? Based on an extended Technology Acceptance Model (TAM), the study investigates the effects of Perceived Ease of Use (PEoU), Perceived Usefulness (PU), Social Influence (SI), and Facilitating Conditions (FC). A quantitative survey was conducted among 355 productive family operators across Saudi Arabia. Data were analysed using descriptive statistics and multiple regression analysis. The results show that Facilitating Conditions, Social Influence, and Perceived Usefulness have significant positive effects on FinTech adoption intention, whereas Perceived Ease of Use has no significant effect. Facilitating Conditions emerged as the strongest predictor.This study extends FinTech adoption research to the underexplored context of productive family micro- enterprises in Saudi Arabia and provides practical insights for policymakers, financial institutions, FinTech providers, and the Social Development Bank to enhance digital financial adoption in support of Vision 2030.