Intention to Use Islamic Fintech among MSMEs: Knowledge of Sharia Prohibition Approach
DOI:
https://doi.org/10.37301/jmubh.v19i1.24443Abstract
The purpose of this study is to investigate the influential factors on behavioral intentions toward Islamic fintech use among Micro, Small and Medium Enterprises in Indonesia. The author adds a new research model about intention to use in the form of Technology Acceptance Model, Knowledge of Sharia Prohibition, Word of Mouth and Trust which has not been used in other studies. This research utilized a quantitative approach, an online survey was distributed to 350 MSMEs owners. The data collected from the participants were subjected to Structural Equations Modeling-Partial Least Squares (SEM-PLS) analysis, enabling a thorough examination of the variables under investigation. The results show that the variable of word of mouth and perceived ease of use have positive and significant impact on perceived usefulness. In addition, the variable of trust and perceived usefulness influence attitude significantly. This study also indicates that attitude affects intention to use Islamic fintech significantly. Then, the Attitude mediates the relationship between perceived usefulness and trust and Intention to use Islamic fintech. The findings of this study will be useful for policy makers and managers of Islamic fintech companies because it can help them find out the factors that drive intention to use Islamic fintech services.
References
Aaron, M., Rivadeneyra, F., & Sohal, S. (2017). Fintech: Is This Time Different? A Framework for Assessing Risks and Opportunities for Central Banks.
Aji, H. M. (2017). Examining the moderating role of high-versus-low scepticism toward Halal labels: findings from Indonesia. International Journal of Islamic Marketing and Branding, 2(4), 278–303.
Aji, H. M., Berakon, I., & Riza, A. F. (2020). The effects of subjective norm and knowledge about riba on intention to use e-money in Indonesia. Journal of Islamic Marketing, 12(6), 1180–1196. https://doi.org/10.1108/JIMA-10-2019-0203
Ajzen. (2005). Laws of Human Behavior: Symmetry, Compatibility, and Attitude Behavior Correspondence.
Ajzen, I. (1991). The Theory of Planned Behavior. Orgnizational Behavior and Human Decision Processes, 50, 179–211. https://doi.org/https://doi.org/10.1016/0749-5978(91)90020-T
Al-Debei, M. M., Akroush, M. N., & Ashouri, M. I. (2015). Consumer attitudes towards online shopping. Internet Research, 25(5), 707–733. https://doi.org/https://doi.org/10.1108/IntR-05-2014-0146
Al-Jaziri, A. (2003). Kitāb Al-Fiqhi ‘Alā Madzāhib al-Arba’Ah: Vol. II (I). Daarul Al-Kutub Al-Ilmiyah.
Basalamah, R., Nurdin, N., Haekal, A., Noval, N., & Jalil, A. (2022). Pengaruh Persepsi Kemudahan dan Risiko Terhadap Minat Menggunakan Financial Technology (Fintech) Gopay Pada Generasi Milenial Di Kota Palu. Jurnal Ilmu Ekonomi Dan Bisnis Islam, 4(1), 57–71.
Cheung, M. F. Y., & To, W. M. (2017). The influence of the propensity to trust on mobile users’ attitudes toward in-app advertisements: An extension of the theory of planned behavior. Computers in Human Behavior, 76, 102–111. https://doi.org/https://doi.org/10.1016/j.chb.2017.07.011
Darmansyah, Fianto, B. A., Hendratmi, A., & Aziz, P. F. (2020). Factors determining behavioral intentions to use Islamic financial technology: Three competing models. Journal of Islamic Marketing, 12(4), 794–812. https://doi.org/10.1108/JIMA-12-2019-0252
Davis, F. D. (1989). Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology. MIS Quarterly , 3, 319–340.
Desy Setyowati. (2018, May). Pertumbuhan Perbankan Syariah Tergilas Fintech.
DinarStandar. (2020). State of The Global Islamic Economy Report: Unlocking Opportunity.
Dubai Islamic Economy Development Centre. (2018). Islamic Fintech Report 2018: current Landscape and Path Forward.
Eneizan, B. I. L. A. L., Alsaad, A. B. D. A. L. L. A. H., Abdelbaset Alkhawaldeh, H. N., & Rawash, O. E. (2020). E-wom, trust, usefulness, ease of use, and online shopping via websites: the moderating role of online shopping experience. Journal of Theoretical and Applied Information Technology, 98(13), 2554–2565.
Fahmi, S. (2018). Pengaruh persepsi keamanan dan kepercayaan terhadap niat konsumen dalam melakukan transaksi e-commerce, melalui sikap sebagai variabel intervening. JAMIN: Jurnal Aplikasi Manajemen Dan Inovasi Bisnis, 1(1), 86–96.
Featherman, M. ., & Pavlou, P. A. (2003). Predicting E-Service Adoption : A Perceived Risk Facets Perspective. International Journal of Human-Computer Studies, 59(4), 451–474.
Featherman, S, M., Miyazaki, A. D., & Sprott, D. E. (2010). Reducing online privacy risk to facilitate e-service adoption: the influence of perceived ease of use and corporate credibility. Journal of Service Marketing, 24(3), 219–229.
Firlianti, F., Jumawan, J., & Asriany, A. (2023). The Influence Of Financial Technology (Fintech), Financial Attitudes And Financial Knowledge On The Financial Behavior Of The Millenial Generation. Management Studies and Entrepreneurship Journal, 4(2), 1882–1891.
Giantari, I., Sukawati, T., & Setini, M. (2021). Student satisfaction and perceived value on word of mouth (WOM) during the COVID-19 pandemic: An empirical study in Indonesia. Journal of Asian Finance, Economics and Business, 8(6), 1047–1056.
Grover, P., Kar, A. K., Janssen, M., & Ilavarasan, P. V. (2019). Perceived usefulness, ease of use and user acceptance of blockchain technology for digital transactions–insights from user-generated content on Twitter. Enterprise Information Systems, 13(6), 771–800. https://doi.org/10.1080/17517575.2019.1599446
Hair Jr, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121.
Hendratmi, A., Ryandono, M. N. H., & Sukmaningrum, P. S. (2020). Developing Islamic crowdfunding website platform for startup companies in Indonesia. Journal of Islamic Marketing, 11(5), 1041–1053. https://doi.org/10.1108/JIMA-02-2019-0022
Herr, P. M., Kardes, F. R., & Kim, J. (1991). Effects of Word-of-Mouth and Product Attribute Information on Persuasion: An Accesbility- Diagnosticity Perspective. Journal of Consumer Research, 17(4), 454–462.
Huei, C. T., Cheng, L. S., Seong, L. C., Khin, A. A., & Bin, R. L. L. (2018). Preliminary study on consumer attitude towards fintech products and services in Malaysia. International Journal of Engineering & Technology, 7(2.29), 166–169.
Itishom, M. F., Martini, S., & Novandari, W. (2020). Pengaruh Persepsi Manfaat, Persepsi Kemudahan, Persepsi Risiko Dan Persepsi Harga Terhadap Sikap Serta Keputusan Konsumen Untuk Menggunakan Go-Pay. Jurnal Ekonomi, Bisnis Dan Akuntansi, 22(4), 514–532.
Kotler, P., & Keller, K. L. (2016). Marketing Management Global Edition (Vol. 15). In Pearson Pretice Hall.
Kumar, A., Adlakaha, A., & Mukherjee, K. (2018). The effect of perceived security and grievance redressal on continuance intention to use M-wallets in a developing country. International Journal of Bank Marketing, 36(7), 1170–1189. https://doi.org/10.1108/IJBM-04-2017-0077
Kusuma, A. P., & Syahputra, S. (2020). Pengaruh Persepsi Kemudahan Dan Persepsi Manfaat Terhadap Sikap Pengunaan E-Wallet Di Kota Bandung 2020. Journal of Applied Business Administration, 108–114.
Leon, S. (2018). Service mobile apps: a millennial generation perspective. Industrial Management and Data Systems, 118(9), 1837–1860. https://doi.org/10.1108/IMDS-10-2017-0479
Liu, M. T., Liu, Y., Mo, Z., Zhao, Z., & Zhu, Z. (2020). How CSR influences customer behavioural loyalty in the Chinese hotel industry. Asia Pacific Journal of Marketing and Logistics, 32(1), 1–22.
Mayer, R. C., Davis, J. H., & Schoorman, F. D. (1995). An Integrative Model of Organizational Trust. The Academy of Management Review, 20(3), 709–734. https://doi.org/10.2307/258792
Misissaifi, M., & Sriyana, J. (2021). Faktor-Faktor Yang Mempengaruhi Minat Menggunakan Fintech Syariah. IQTISHADUNA: Jurnal Ilmiah Ekonomi Kita, 10(1), 109–124. https://doi.org/10.46367/iqtishaduna.v10i1.276
Mohd Thas Thaker, M. A. Bin, Amin, M. F. Bin, Mohd Thas Thaker, H. Bin, & Allah Pitchay, A. Bin. (2019). What keeps Islamic mobile banking customers loyal? Journal of Islamic Marketing, 10(2), 525–542. https://doi.org/10.1108/JIMA-08-2017-0090
Mokthar, M. Z. (2016). Perceptions of Universiti Sains Malaysia Muslim Staff on Factors Influencing their Intention to Perform Cash Waqf. Journal of Islamic Studies and Culture, 4(2), 101–109. https://doi.org/10.15640/jisc.v4n2a11
Mukerjee, K. (2020). Impact of self-service technologies in retail banking on cross-buying and word-of-mouth. International Journal of Retail & Distribution Management, 48(5), 485–500. https://doi.org/10.1108/IJRDM-08-2019-0261
Nawangasari, S., & N. D Putri. (2020). Pengaruh E-Service Quality Dan E-Trust Terhadap Kepuasan Nasabah Pengguna Bni Mobile Banking Melalui Citra Bank Sebagai Variabel Intervening. Jurnal Ilmiah Matrik, 22(1), 55–63.
Oh, K., & Abraham, L. (2016). Effect of knowledge on decision making in the context of organic cotton clothing. International Journal of Consumer Studies, 40(1), 66–74.
Pavlou, P. A. (2003). Consumer Acceptance of Electronic Commerce: Integrating Trust and Risk with the Technology Acceptance Model. International Journal of Electronic Commerce, 7(3), 69–103.
Prashilia, E., & Priantinah, D. (2020). The Effect Of Perceived Usefulness, Perceived Ease Of Use, Perceived Enjoyment, And Financial Knowledge On The Intention To Use E-Money In The Special Region Of Yogyakarta Through Attitude Toward Using As An Intervening Variable. Jurnal Profita: Kajian Ilmu Akuntansi, 8(4).
Pratama, D. A. (2020). Pengaruh Persepsi Manfaat, Persepsi Kemudahan Penggunaan dan Persepsi Resiko terhadap Niat Beli Pelanggan melalui Sikap Pelanggan sebagai Mediasi pada Tokopedia. Agora, 8(1).
Rahman, M. A., Tobuhu R., & Endi, M. (2022). Pengaruh Kemudahan Dan Kepercayaan Terhadap Sikap Penggunaan Layanan M-Banking (Studi Pada Bank BNI Cabang Gorontalo). Jurnal Ilmiah Manajemen Bisnis, 5(2), 686–693.
Ravand, H., & Baghaei, P. (2016). Partial Least Squares Structural Equation Modeling with R. Practical Assessment, Research, and Evaluation, 21(11).
Sernovitz, A. (2009). Word of Mouth Marketing: How Smart Companies Get People Talking. Kaplan Publishing.
Shaikh, I. M., Qureshi, M. A., Noordin, K., Shaikh, J. M., Khan, A., & Shahbaz, M. S. (2020). Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: an extension of technology acceptance model. Foresight, 22(3), 367–383. https://doi.org/10.1108/FS-12-2019-0105
Shankar, A., Jebarajakirthy, C., Ashaduzzaman, M. (2020). How do electronic word of mouth practices contribute to mobile banking adoption? Journal of Retailing and Consumer Services, 5(2), 10–20.
Sheth, J. N., & MIttal, B. (2004). Customer Behaviour: Managerial Perspective (Second). Thomson.
Suci Marlina, A., & Fatwa, N. (2021). FINTECH SYARIAH SEBAGAI FAKTOR PENDORONG PENINGKATAN INKLUSIVITAS USAHA MIKRO KECIL DAN MENENGAH DI INDONESIA. Jurnal Tabarru’ : Islamic Banking and Finance, 4.
Temelkov, Z. & S. M. G. (2018). The Need for Fintech Companies as Non-Bank Financing Alternatives for SME in Developing Economies. International Journal of Information, Business and Management, 10(3), 25–33.
Triwidyastika, A. (2012). Studi tentang Pengaruh Persepsi Manfaat dan Persepsi Resiko terhadap Sikap pada Belanja Online dan Implikasinya pada Minat Belanja Online di D’shetwo Boutique. Jurnal Sains Pemasaran Indonesia, 11(1), 51–75.
Usman, B. (2017, December). A Glancing Meteor of FinTech “Start-up” Business Model (Perspective Views of Italian, Turkish, and Indonesian Users). International Students Social Science Congress.
Utdkhiati, A. L. (2022). Determinants of M-Payment Use in Muslim Millennial Generations: Moderation Effects of Knowledge about Riba. Journal of Islamic Economic Scholar, 3(1), 1–14.
Vaicondam, Y., Tong, C. X., Qureshi, M. I., Teknikal, U., Melaka, M., & Khan, N. (2021). FINTECH ADOPTION AMONG MILLENNIALS IN SELANGOR. In Academy of Entrepreneurship Journal (Vol. 27).
Venkatesh, V., & Davis, F. D. (2000). A Theoritical Extension of The Technology Acceptance Model: Four Longitudinal Field Studies. Management Science, 46(2), 186–204.
Wang, Y. (2016). What are the biggest obstacles to growth of SMEs in developing countries? – An empirical evidence from an enterprise survey. Borsa Istanbul Review, 16(3), 167–176. https://doi.org/10.1016/j.bir.2016.06.001
William, G., & Tjokrosaputro, M. (2021). Persepsi Kegunaan Dan Promosi Untuk Memprediksi Niat Penggunaan E-Wallet: Sikap Sebagai Variabel Mediator. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 5(1), 74–88.
Yarli, D. (2018). Analisis Akad Tijarah Pada Transaksi Fintech Syariah Dengan Pendekatan Maqhasid. YUDISIA : Jurnal Pemikiran Hukum Dan Hukum Islam, 9(2), 245–256. https://doi.org/10.21043/yudisia.v9i2.4766
Yi, Y., & La, S. (2004). What influences the relationship between customer satisfaction and repurchase intention? Investigating the effects of adjusted expectations and customer loyalty. Psychology and Marketing, 21(5), 351–373. https://doi.org/10.1002/mar.20009
Zhang, T., Lu, C., & Kizildag, M. (2018). Banking “on-the-go”: examining consumers’ adoption of mobile banking services. International Journal of Quality and Service Sciences, 10(3), 279–295. https://doi.org/10.1108/IJQSS-07-2017-0067
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Muhammad Dzulfaqori Jatnika, Dian Friantoro, Mumuh Muhammad, Iskandar Iskandar, Liya Ur Rahman Liyakath Alikhan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with Jurnal Manajemen Universitas Bung Hatta agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in Jurnal Manajemen Universitas Bung Hatta.
- The author holds the copyright of the submitted and published articles, with the understanding that articles are disseminated under the Creative Commons Attribution-ShareAlike 4.0 International License..
- The editor team is entitled to do the editing in accordance with the guidelines for writing or template in the Jurnal Manajemen Universitas Bung Hatta.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
