How Does FinTech Affect Consumer Non-cash Payment Satisfaction? The Moderating Role of Financial Knowledge

Abstract

As the merger of innovations from developing financial services for the twenty-first century, FinTech has brought payment methods into a new and electronic era, and non-cash payment is gradually becoming the mainstream for transaction activities. This study empirically investigates the effects of FinTech on consumer non-cash payment satisfaction, and the moderating role of financial knowledge is examined as well. Utilizing the data from the China Household Finance Survey in 2017, the results indicate that the use of FinTech can significantly promote consumer satisfaction towards non-cash payment. The mechanism analysis specific to the moderating role also shows that financial knowledge positively contributes to the impacts of FinTech on consumer non-cash payment satisfaction. The findings of this study imply that financial service providers are recommended to promote their facilities to meet consumers’ increasing demand for financial services. Besides, consumers should also take the initiative to improve their financial knowledge to better integrate non-cash payment into life and enjoy the satisfaction brought by FinTech.