Redefining Fintech adoption in emerging market: extending the ISSM model

Doszhan R.D. Zhumadilova T.B. Zhakupova B.Z. Daribayeva M. Al-Okaily M. Shaikh A.A.
September 2025 Palgrave Macmillan

Journal of Financial Services Marketing
2025 #30 Issue 3

This article examines the ongoing usage behavior of consumers utilizing Fintech services in a developing country. It proposes extensions to the ISSM model that include trust, security, and value for sustained use and e-WoM. The data, collected through a pretested survey with purposive sampling, yielded 421 responses from January to March 2024. These responses were analyzed using SmartPLS statistical software 4.0. The major findings suggest that consumer sustained usage behavior is significantly and positively influenced by perceived trust, information quality, service quality, and perceived value. Additionally, sustained usage behavior has a significant and positive influence on consumers e-word of mouth. This article focuses on Fintech usage in Kazakhstan, a developing country, addressing a gap in existing research that predominantly centers on developed economies. Moreover, this context offers unique insights due to its rapid digital transformation initiatives and significant challenges in financial inclusion.

e-word of mouth , Fintech , ISSM model , Perceived security , Perceived trust , Perceived value , Sustained usage behavior

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Al-Farabi Kazakh National University, Almaty, Kazakhstan
Aktobe Regional University named after K. Zhubanov, Aktobe, Kazakhstan
School of Business, Jadara University, Irbid, Jordan
School of Business, The University of Jordan, Amman, Jordan
The Institute of Information and Computational Technologies, 28 Shevchenko Street, Almaty, 050010, Kazakhstan
International Business and Marketing, NUST Business School, National University of Sciences and Technology, H-12 Islamabad, Pakistan

Al-Farabi Kazakh National University
Aktobe Regional University named after K. Zhubanov
School of Business
School of Business
The Institute of Information and Computational Technologies
International Business and Marketing

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