Financial Technology's Role in Attaining Financial Inclusion: Empirical Findings from Egypt

(Pages 2241-2251)

Abd Elmoniem A. El-Tohamy* and Somaia T. A. Salem
Business Administration Department, Faculty of Commerce and business administration, Helwan University, Egypt.


The focus of that research is to investigate the precedents of financial inclusion enabled by financial technology, specifically mobile payment. To evaluate the research model, 424 Egyptian individuals were polled online using structural equation modeling, the core findings suggest that individuals' behavioral intentions to use and embrace mobile money technology are positively influenced by the following: social influence, habit effort expectancy, and facilitating conditions. While performance expectations, price, and hedonic motivators have no impact on behavior intention. Service charge and service trust, service charge and agent trust have a beneficial impact on perceived risk. Furthermore, the influence of behavioral intention and risk perception on the adoption of mobile money and its subsequent impact on financial inclusion is positive. While prior research has examined the factors influencing mobile payment usage behavior in isolation, the present study aims to fill a gap in the literature by proposing a comprehensive framework that explores the potential relationships among these factors. This expanded framework has not been sufficiently investigated in previous empirical studies conducted in developing countries, specifically within the context of mobile money technology. By experimentally analyzing these linkages, this work is one of the attempts to develop the prospect theory and unified theory of acceptance and use of technology (UTAUT2) to uncover precursors to mobile money usage and adoption to achieve financial inclusion.


A unified theory2, mobile payment, theory of prospect, FI, Fintech.

How to Cite:

Abd Elmoniem A. El-Tohamy and Somaia T. A. Salem. Financial Technology's Role in Attaining Financial Inclusion: Empirical Findings from Egypt. [ref]: vol.21.2023. available at:

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