The Choice and Intention to Use Digital Finance Products among Agribusiness Traders

The industrial revolution and digitalisation have made Internet banking possible. Hence, studies have endeavoured to examine digital finance issues like digital financial inclusion and the effect of digital payments on the welfare of individuals. However, little is known about the choice of digital finance products and the intention to use them among micro, small, and medium enterprises (MSMEs) like agribusiness traders in Ghana who are customers of rural banks. This study, therefore, examined the determinants of the choices of digital finance products and the intentions to use digital finance products among agribusiness traders in Ghana. The Probit regression and the Structural Equation Modelling (SEM) were used for the analysis. The findings demonstrated that education, age, experience, type of bank account (savings and susu accounts), awareness through other traders, awareness through employees of financial institutions, and the type of transaction (withdrawal and monitoring transactions) were the determinants of the choice of digital finance among traders. The results of the SEM modelled within the Technology Acceptance Framework (TAM) revealed that perceived ease of use and convenience predict traders’ intention to use digital finance products. It is suggested that rural banks should provide training on the benefits and guidance on using their digital finance platforms effectively so that agribusiness traders can better understand their features, benefits, and risks, leading to increased adoption and usage.