Modeling the adoption of financial technology for sustainable agricultural development in Bangladesh using the technology acceptance model

This study examines the adoption of Financial Technology (FinTech) in Bangladesh’s agricultural sector using the technology acceptance model (TAM), focusing on the relationships between behavioral intention to use FinTech (BIF), Perceived Usefulness (PU), perceived ease of use (PEOU), perceived risk (PR), perceived trust (PT), government support (GS), and social influence (SI). Data were collected from 395 agricultural stakeholders, and structural equation modeling (SEM) was used for hypothesis testing. The results show that BI strongly predicts the actual use of FinTech (AU), with a significant positive relationship (β = 0.686, p < 0.001), emphasizing the importance of farmers’ willingness to adopt FinTech. Attitude Toward Using FinTech (ATU) was also found to positively influence BIF (β = 0.390, p < 0.001), indicating that positive attitudes significantly enhance adoption intentions. Both Perceived Usefulness (PU) and perceived trust (PT) significantly influence ATU, reinforcing the role of technology benefits and trust in fostering positive attitudes towards FinTech. Perceived government support (PGS) similarly showed a significant impact on ATU (β = 0.195, p < 0.001). Interestingly, perceived ease of use (PEOU) and Perceived Social Influence (PSI) were found to be insignificant in influencing ATU, suggesting that while ease of use and societal factors may play a role, they do not directly impact the adoption of FinTech in this context. The study highlights the importance of focusing on the practical benefits and trustworthiness of FinTech solutions to enhance adoption in the agricultural sector. It underscores the need for targeted policies and solutions that address farmers’ specific needs.