What Influences Small Merchants’ Intention to Integrate QR Terminals: A Study from the Perspective of an Emerging Growing Economy

Abstract

The world of financial technology (fintech) is evolving at high speed, and the QR (Quick Response) payment systems have become a cost-effective and practical solutionthat suit well small merchants, particularly those operating in the field of the emerging market, like in Bangladesh. The given research examines the main predictors of the intention of small-business owners to implement a QR payment terminal. Under the influence of the existing theoretical frameworks, i.e., the Technology Acceptance Model (TAM), the Unified Theory of Acceptance and Use of Technology (UTAUT), and the Diffusion of Innovations (DOI), the study tests the predictor variables of governmental support, and market competition. The study of digital payment uptake amongst 200 small traders in the urban and peri- urban areas in Bangladesh was performed with the help of stratified survey and regression and structural equation modeling (SEM). Findings indicate that adoption decisions have a huge effect on the perception of usefulness, trust, customer demand, and ease of use, but not perceived risk. Programs in the government such as Bangla QR are important towards facilitating digital access and merchant trust. The research provides a policy recommendation to regulators, financial institutions, and developers of the fintech-the intuitive design, regulation encouragement, and awareness creation should be prioritized to progress cashless payments and financial inclusion in developing economies.