A STUDY OF FACTORS INFLUENCING USERS' PREFERENCE TOWARDS FINTECH SOLUTIONS - USING FUZZY AHP & TOPSIS TECHNIQUES

Abstract

Online payment applications, Mobile applications (Apps), and wallets have become very popular in the past few years. Various users adopt an app or digital wallet offered by the number of FinTech companies and the number of options available in plenty. This research is to assess the various factors that impact users' decision-making processes when selecting an app from the multitude of options available. To achieve this, two MCDM (Multi-Criteria Decision Making) techniques, namely Fuzzy AHP and TOPSIS, are employed. These methods serve as analytical tools to evaluate and prioritize the influencing factors effectively. Our study is to obtain the criteria' weights and rank the Apps available for Indian consumers using these techniques. As per the findings, Payment Security plays the most crucial role as a factor followed by Ergonomics, Products available, Reward schemes, Parent Brand, and Payment Options made available by various Apps. As a result, the adopted model provides insights for the marketing professionals to concentrate on better solutions.