Unveiling the path to adoption: Behavioral intention's role in digital financial services for elderly in Henan, China

Digital financial services (DFS) have gained significant importance since the Covid-19 outbreak, yet the elderly population remains understudied in this context. In China, the elderly population is rapidly growing, making it crucial to focus on enhancing their technology adoption behavior. This study attempts to fill the literature gap by considering the usage behavior of the elderly population toward digital financial services aged 65 and above, particularly in context of the Henan Province of China. This study employed a face-to-face survey method and primarily used PLS-SEM to analyze data collected from 382 individuals aged 65 and above in Henan, China. The findings suggest that behavioral intention significantly mediates the relationship between facilitating conditions, technology anxiety, perceived risk, perceived trust, and DFS usage behavior. Furthermore, the study identifies facilitating conditions, technology anxiety, and perceived risk as significant predictors. This research contributes to the literature by exploring the barriers and enablers of technology adoption among the elderly China, offering insights on bridging the digital divide and promoting financial inclusiveness. Expands the understanding of technology adoption among elderly individuals in China. Identifies key barriers and driving factors influencing their behavior. Provides insights into bridging the digital divide and promoting financial inclusion.