Leveraging FinTech and Digital Finance Solutions to Enhance Financial Inclusion in Emerging Economies

Despite the growing adoption of digital financial technologies, limited access to and effective utilisation of formal financial services remain significant challenges for many small and medium-sized enterprises (SMEs) in developing economies. This study examined the influence of FinTech payment platforms and mobile banking on financial inclusion among registered SME owners in Port Harcourt, Rivers State, Nigeria. Specifically, the study investigated the influence of FinTech payment platforms and mobile banking on financial inclusion. A quantitative research design was adopted, and primary data were collected through structured questionnaires administered to 300 registered SME owners. Data were analysed using descriptive statistics and multiple regression analysis. The descriptive results revealed average mean scores of 4.054, 4.086, and 4.118 for FinTech payment platforms, mobile banking, and financial inclusion, respectively, indicating favourable perceptions among respondents. The regression findings further showed that FinTech payment platforms (β = 0.654, p < 0.05) and mobile banking (β = 0.626, p < 0.05) had positive and statistically significant associations on financial inclusion. The model explained approximately 89.4% of the variation in financial inclusion. The study concludes that digital financial services are positively associated with financial inclusion among SME owners. It recommends stronger digital financial infrastructure, improved financial technology awareness, and enhanced access to reliable mobile banking services. The study contributes empirical evidence concerning the role of digital financial innovations in promoting SME financial inclusion in Nigeria.