Technology acceptance model, trust, and financial behavior in shaping consumer well-being: Insights from fintech adoption in urban Indonesia

Consumer well-being reflects subjective physical, emotional, and psychological satisfaction derived from services. This study investigates how the Technology Acceptance Model (TAM), trust, and intention to use fintech services influence consumer well-being in urban Indonesia, with financial behavior as a moderating variable. The research surveyed 390 active fintech users in the Jabodetabek metropolitan area in Indonesia, which includes Jakarta, Bogor, Depok Tangerang, and Bekasi selected due to their high engagement with digital financial services, with the survey being conducted over a three-month period from May to July 2024. The findings reveal that TAM and trust significantly influence consumers’ intention to use fintech services, which mediates their impact on consumer well-being. Notably, intention to use has the strongest direct effect on well-being (path coefficient = 0.548, p < 0.001). However, financial behavior does not significantly moderate the relationship between intention to use and well-being (p = 0.441). These results highlight the pivotal role of trust and ease of access in enhancing consumer satisfaction. From a practical perspective, the findings suggest that fintech providers and policymakers should focus on financial literacy to mitigate risks associated with unregulated fintech use. This study extends theoretical insights into the intersection of technology acceptance and consumer behavior, emphasizing the importance of user-centered approaches. Future research should explore these dynamics in rural contexts to compare community-specific impacts. AcknowledgmentThis research was funded by Directorate of Research, Technology and Community Service (DRTPM) of the Indonesian Ministry of Education and Culture in 2024 with the National Competitive Basic Research Grant scheme with contract number; 0667/E5/AL.04/2024.