ANALYSING THE DETERMINANTS OF FINTECH ADOPTION AMONG BANKING CUSTOMERS: A STUDY IN THE CONTEXT OF SIKKIM

Financial Transactions have been developing rapidly for the past decade especially in India. Financial Transactions have grown into a Digital space wherein transactions hare being conducted on a Daily basis by the populace Digitally. Government Initiatives like Digital India and the growth in Internet, Smartphone accessibility has been instrumental in leading to a growth in Digital Financial Transactions. During 2023-24 Digital transaction amounting to 18,737 cr, were accounted in India with a CAGR of 44%. However, many factors affecting the adoption and awareness of Digital financial transaction. Therefore, this paper seeks to identify the factors affecting Digital Financial Transaction in Sikkim Alongside it seeks to study the level of awareness of Digital transaction payment gateways in the state of Sikkim. For the purpose of the study the data was collected via self-structured questionnaire among 350 banking customers in all districts of Sikkim. Factor analysis and Hypothesis test have been conducted in SPSS 20.0 software of Data analysis. It was found that there are majorly 5 factors that affect the adoption of Financial Transaction namely Perceived Usefulness, Digital Infrastructure, Reliability, Accessibility and Security It was also indicate that banking customers have a moderate awareness towards Digital Financial transaction payment gateways. The study has indicated that there exists a substantial number of new users of Digital transaction gateways and it also has a good retention rate as there exists a huge existing customer base. This paper enables future studies to expand their knowledge on Digital financial transaction gateways and its relation with economic growth along with explore the differences among various socio-economic groups in the State of Sikkim.