Digital Financial Services Adoption among Employees:Integrating Trust, Financial Literacy and Technology Self-Efficacy

Abstract

Digital financial services have become central to financial transactions, yet adoption depends on more than access to technology. This study examines the effects of trust, financial literacy, and technology self-efficacy on digital financial services adoption among employees. Using data from 200 respondents, the model was assessed through partial least squares structural equation modelling in ADANCO 2.4.1 with 5,000 bootstrap samples. The measurement model demonstrated reliability, convergent validity, discriminant validity, and model fit. Structural results showed that trust and technology self-efficacy positively and significantly influenced digital financial services adoption, whereas financial literacy had no significant direct effect. The model explained approximately half of the variance in adoption. The findings highlight the importance of strengthening trust and digital confidence alongside financial education. The study differentiates assurance, financial knowledge, and technology confidence as adoption drivers and offers practical guidance for financial institutions and employers promoting responsible digital financial service use.