Abstract
Financial technology (fintech) covers many innovative technology-enabled financial services. This research thus explores the causal relationships for fintech adoption to assist countries in promoting its usage. Following literature, this study uses technology, economic development, entrepreneurship, and innovation of an economy as the antecedents and fintech adoption as the outcome and then applies fuzzy set/Qualitative Comparative Analysis to analyze causal complexity. The data span the years 2020 and 2021 with 30 countries in 2020 and 28 countries in 2021. This study finds that the combination of high values of innovation, technology, entrepreneurship, and economic development leads to high fintech adoption in both 2020 and 2021. Fintech adoption is popular in developed countries. The combination of low values of innovation, technology, and economic development leads to low fintech adoption consistently in 2020 and 2021. The combination of low values of innovation, entrepreneurship, and economic development leads to low fintech adoption in 2021.
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