FACTORS INFLUENCING THE ADOPTION OF DIGITAL FINANCE AMONG MICROENTREPRENEURS

Digital finance has significantly transformed the microentrepreneurs landscape, particularly in developing countries. By leveraging digital platforms, these entrepreneurs can manage their finances more effectively, access new markets, and integrate into the formal economy. Digital finance can empower microentrepreneurs by providing them greater financial autonomy, reducing their dependence on informal and often exploitative financial arrangements, and offering them tools to better manage their business risks. This paper aims to explore the factors that influence the adoption of digital finance among microentrepreneurs by using a qualitative approach through content analysis. The findings show that digital literacy and skills, trust, accessibility, perceived ease of use, financial literacy, social influence, regulatory and cultural factors are the factors that influence the adoption of digital finance among microentrepreneurs. Therefore, it is suggested that policymakers, financial institutions, technology providers, and related organizations work together to create an enabling environment that supports the adoption of digital finance, particularly for underserved and vulnerable populations.