Perceived FinTech Innovation Characteristics and Financial Well-being: The Mediating Role of Financial Inclusion among FinTech-Using Culinary MSMEs in Greater Jakarta
DOI:
https://doi.org/10.62794/je3s.v7i4.359Keywords:
perceived FinTech innovation characteristics, financial inclusion, financial well-being, culinary MSMEs, PLS-SEMAbstract
This study examines the relationship between Perceived FinTech Innovation Characteristics and the Financial Well-being of FinTech-using culinary MSMEs in Greater Jakarta (Jabodetabek), Indonesia, with Financial Inclusion as a mediating mechanism. The study addresses the need to understand how perceptions of FinTech innovation characteristics affect MSME financial conditions beyond mere technology use. A quantitative explanatory research design was employed using primary data collected from 500 culinary MSME owners who actively used at least one FinTech service. Since all respondents were existing FinTech users, this study does not examine the adoption decision between users and non-users; rather, it focuses on how users perceive the relative advantage, compatibility, complexity, trialability, and observability of the FinTech services they utilise. Data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The results indicate that Perceived FinTech Innovation Characteristics positively influence Financial Inclusion and Financial Well-being. Furthermore, Financial Inclusion positively affects Financial Well-being and shows complementary partial mediation in the relationship between FinTech innovation characteristics and Financial Well-being. The findings highlight that favourable perceptions of FinTech innovation characteristics may enhance MSMEs’ engagement with formal financial services, thereby supporting their financial resilience and decision-making capacity. This study contributes by distinguishing perceptions of innovation from actual adoption behaviour and by demonstrating the mediating role of financial inclusion in strengthening business-level financial well-being. The findings imply that policymakers and FinTech providers should enhance digital financial literacy and develop MSME-oriented financial services.
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Copyright (c) 2026 Heny Ratnaningtyas, Bahtiar Usman, Tri Kunawangsih, Yolanda Masnita, Syofriza Syofyan, Husna Leila Yusran
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