Investigating the Impact of various Opinion Leaders on Fintech Uptake: Evidence from Punjab

Purpose: India has embraced the trends of using Fintech apps as a new mode of payment as it enters the technology boom. Opinion leaders have the power to influence prospective adopters' attitudes, beliefs, and actions. So, they play a crucial role in the acceptance of new technologies. This study explores the role of different opinion leaders emphasizing how they shape trust, perception and willingness to engage with Fintech services in Punjab.

Design/Methodology: The data has been collected through the structured and standardized questionnaire. Convenience and Snowball sampling techniques are used which is part of Non- Probability Sampling. The data of 400 users from Punjab is analyzed by applying structural equation modeling (SEM) and Exploratory Factor Analysis (EFA).

Findings: The survey indicates that Opinion Leaders play a significant role to influence the individuals towards Fintech services. It is found that financial experts and celebrity endorsements influence the individuals most as comparison to peer leaders and social media. Their suggestions might assist doubtful customers get beyond adoption barriers by confirming the legitimacy of Fintech solutions.

Practical implications – Based on research findings, this study would contribute to the body of knowledge already available on the adoption of Fintech services by offering fresh insights into the factors influencing users' behavior in this regard. The results of this study will help fintech service providers to build the solutions that cater to a wide spectrum of users.