The Influence of Halal Product Expectation, Social Environment, and Fiqih Knowledge on Intention to Use Shariah Financial Technology Products

The emergence of information technology has supported the growing Financial Technology (FinTech) industry in Indonesia. Similarly, the sharia financial technology industry also grows rapidly due to Muslim adoption of information technology for financial transaction. However, limited studies have been conducted to understand the factors that influence Muslim consumers to adopt sharia FinTech products. Through the use of the variables of halal product expectation, social environment, and fiqih knowledge, we surveyed eighty Muslim sharia FinTech consumers to understand whether those three variables affect their intention to use sharia FinTech products such as online loans. The results show that halal product expectation and fiqih knowledge factors have significantly affect Muslim consumers in Indonesia to use sharia FinTech products. Meanwhile, social environment, such as friends or higher Muslim figures, does not influence Muslim consumers to use the sharia FinTech products. We conclude that sharia FinTech companies should focus on improving their products to comply with Islamic sharia principles rather than using social environment to attract Muslim consumers to purchase their products. Future research may require more variable in similar studies to increase validity and reliability.