A STUDY ON THE USAGE OF FINTECH SERVICES AND ITS LEVEL OF SATISFACTION WITH SPECIAL REFERENCE TO NORTH BENGAL (WEST BENGAL)

Abstract

Fintech, or financial technology, has been growing rapidly in India in recent years. With the emergence of digital technologies and mobile connectivity, fintech has transformed the financial landscape of India. The adoption of Fintech services in India has been influenced by various factors such as government initiatives, the growth of e-commerce, and the increase in smartphone usage. Despite the growing popularity of fintech services in India, challenges still need to be addressed to increase adoption. One of the significant challenges is the lack of financial literacy among consumers. Many consumers are not aware of the benefits of fintech services and are hesitant to adopt them. Consumer attitude plays a crucial role in the adoption of Fintech services in India. Consumers' willingness to adopt fintech services is influenced by various factors which are discussed in various studies. Consumers who perceive fintech services as easy to use and useful are more likely to adopt them. Additionally, trust and security are essential factors that influence consumers' decisions to adopt fintech services. FinTech is a new industry that uses technology to help people manage their money better. It is a broad category that includes many different technologies; however, the major objective is to alter how people and businesses access their finances and to make them more competitive with traditional financial services. For instance, Phone pay, Bharat-pay, Google pay, Amazon pay, etc. are well accepted by fintech users. It is observed that technology has been well accepted among the young generation therefore this study is an attempt towards studying extent of awareness and level of satisfaction achieved towards using the fintech services. The study found young people to be highly aware of fintech services who also accepted using it, awareness and acceptance do affect age disparities but not gender disparities. The degree to which users are satisfied with fintech services is also thought to be influenced by variances in age and gender.