FinTech Adoption as a Bridge: Linking Digital Financial Literacy to Financial Inclusion among Rural Gig Workers
DOI:
https://doi.org/10.46977/amt.2026.v06i04.002Keywords:
Digital Financial Inclusion, Digital Financial Literacy, FinTech Adoption, Gig Economy, Sustainable DevelopmentAbstract
India's gig economy is growing rapidly, especially in rural areas such as Thanjavur and Trichy, which illustrates the need for gig workers to be absorbed into the formal digital finance ecosystem. Despite being embedded within digital platforms, many gig workers face obstacles rooted in inadequate digital finance literacy, as well as lack of engagement with formal financial services. This current study aims to expand the understanding of the mediating role of FinTech Adoption (FA) between Digital Financial Literacy (DFL) and Digital Financial Inclusion (DFI) for rural gig workers. Data was collected from 334 respondents, and a Structural Equation Modeling (SEM) approach was used for data analysis, in which Digital Financial Literacy was examined by the parameters of awareness, knowledge, skill, behavior, and attitude; FinTech Adoption was examined through perceived usefulness, ease of use, trust and security and DFI was examined by access, usage, and affordability. The results showed that FinTech Adoption partial mediated the relationship between DFL and DFI, indicating that literacy alone cannot create inclusion without a demonstrated FinTech engagement. Findings show the need for inclusive, secure, and accessible digital finance as a policy that continues to increase openness to adoption and provides sustainable economic empowerment for rural gig workers, which aligns with the national objectives for financial inclusion.
Downloads
References
Adelaja, A. O., Umeorah, S. C., Abikoye, B. E., & Adedayo, O. O. (2024). Advancing financial inclusion through fintech: Solutions for unbanked and underbanked populations. World Journal of Advanced Research and Reviews, 23(2), 85–98. https://doi.org/10.30574/wjarr.2024.23.2.2379
Cohen, J. (1988). Statistical power analysis for the behavioral sciences (2nd ed.). Lawrence Erlbaum Associates.
Creswell, J. W., & Creswell, J. D. (2018). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches (5th ed.). SAGE Publications.
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340. https://doi.org/10.2307/249008
Etikan, I., Musa, S. A., & Alkassim, R. S. (2016). Comparison of convenience sampling and purposive sampling. American Journal of Theoretical and Applied Statistics, 5(1), 1–4. https://doi.org/10.11648/j.ajtas.20160501.11
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2019). A primer on partial least squares structural equation modeling (PLS-SEM) (2nd ed.). Sage Publications.
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2021). When to use and how to report the results of PLS-SEM. European Business Review, 33(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203
Heng, D., & Tok, Y. W. (2022). Fintech: Financial inclusion or exclusion? IMF Working Papers, 2022(095), 1–27. https://doi.org/10.5089/9798400208645.001
Henseler, J., Ringle, C. M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115–135. https://doi.org/10.1007/s11747-014-0403-8
Kowsick, N. P. (2025). Impact of financial literacy, trust in financial institutions, and technology adoption on economic well-being through financial inclusion. Anuval Journal, 12(3), 1–16. https://doi.org/10.52783/anuval.223
Ministry of Electronics and Information Technology (MeitY). (2025). Annual Report 2024–25. Government of India. https://www.meity.gov.in/static/uploads/2024/12/10fcadec462c330211502fed3d24ea83.pdf
Ministry of Finance. (2024). Economic Survey 2023–24. Government of India. https://www.indiabudget.gov.in/budget2024-25/economicsurvey/index.php
Ministry of Labour and Employment. (2023). Annual Report 2022–2023. Government of India. https://www.labour.gov.in/static/uploads/2025/06/eb28511d90ec4dcedc023b06d013f22a.pdf
NITI Aayog. (2022). India’s Booming Gig and Platform Economy: Perspectives and Recommendations on the Future of Work. Government of India. https://www.niti.gov.in/sites/default/files/2022-06/25th_June_Final_Report_27062022.pdf
OECD. (28th march 2022). OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion 2022. OECD Publishing. https://www.oecd.org/en/publications/oecd-infe-toolkit-for-measuring-financial-literacy-and-financial-inclusion-2022_cbc4114f-en.html
Priyadarshi, A. (2025). Fintech-driven financial inclusion in rural India: Barriers, opportunities, and behavioural insights. Journal of Business and Economics, 13(1), 45–59. https://doi.org/10.3126/ljbe.v13i1.80259
Rehman, S. (2023). Impact of financial technology and banking access on financial inclusion: The mediating role of financial literacy. Journal of Development and Social Sciences, 4(2), 450–463. https://doi.org/10.47205/jdss.2023(4-ii)68
Reserve Bank of India (RBI). (2025). Report on trend and progress of banking in India 2024–25. https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/0RTP291220258C89B9E5F3F240AEB82AC25A1707A8C6.PDF
Sam-Abugu, C., Luo, X., & Wong, B. L. W. (2025). The combined role of fintech innovation and financial literacy in sustainable financial inclusion in Nigeria. International Review of Economics, 72(4), 1–19. https://doi.org/10.1007/s12232-025-00490-1
Siddiqui, S., & Prakash, O. (2025). Bytes in the city, bits in the village: A comparative study of fintech reach and relevance. International Journal for Multidisciplinary Research, 7(5), 221–234. https://doi.org/10.36948/ijfmr.2025.v07i05.55546
Velez, G. (2025). A systematic review of mobile banking, fintech innovations, and regulatory gaps to achieve financial inclusion in the Philippines. Journal of Interdisciplinary Perspectives, 15(1), 32–48. https://doi.org/10.69569/jip.2025.056
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425–478. https://doi.org/10.2307/30036540
World Bank. (2022). World Development Report 2022: Finance for an Equitable Recovery (Vol. 1 of 2). World Bank Group. https://doi.org/10.1596/978-1-4648-1730-4
Wu, G., & Peng, Q. (2024). Bridging the digital divide: Unraveling the determinants of fintech adoption in rural communities. Sage Open, 14(1), 1–15. https://doi.org/10.1177/21582440241227770
Published
How to Cite
Issue
Section
Copyright (c) 2026 Advancement in Management and Technology (AMT)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
