Exploring the Role of Digital and Financial Literacy in the Adoption of Fintech Services in Nepalese Society

Abstract

The purpose of this study is to examine the role played by digital literacy and financial literacy in the adoption of FinTech services. It explores the key factors behind the adoption process, which include the ease of use, the perceived usefulness, and the perceived benefits of the service. It aims to contribute to the body of knowledge by offering insights into the impact of literacy skills on the adoption of FinTech services by individuals. The researchers adopted a survey based approach to collect the views of 136 participants and then analyzed the results statistically to determine the impact of digital and financial literacy on the adoption of FinTech services. According to the findings, both types of literacy are important factors in the adoption process, which should be addressed through literacy programs to enhance the adoption rates. The study is important because it offers policymakers and other stakeholders insights and strategies to enhance the level of digital financial literacy among the population.