PurposeFinancial service providers are facing challenges in the acceptance of digital financial services. The study, therefore, intends to identify factors contributing towards the adoption of digital finance. It has worked on the influencers and demotivators of digital finance adoption by individuals. These influencers are labelled as perceived benefits and demotivators as perceived risks. In addition to perceived benefit and risk, the study has also included the difference in perception on the basis of generation cohort.Design/methodology/approachThe data have been collected through a structured questionnaire from 411 respondents. Partial least squares structured equation modelling (PLS-SEM) has been used to analyse the proposed model on SmartPLS.FindingsThe findings suggested that the benefits were more influential in adoption behaviour than perceived risk. In addition to perceived benefit and risk, the study has also included the difference in perception on the basis of generation cohort. The results summarised that benefits had a more significant impact in Generation Z (Gen Z) than in Millennials.Research limitations/implicationsThe evaluation and categorisation of perceived risk and benefits into meaningful dimensions generate value to the adoption behaviour of digital finance. Thus, the findings are useful for the policymakers and researchers to contemplate the perception of individuals in digital finance based on the generation cohort.Originality/valueThe empirical findings of the present research contribute to limited evidence of a relationship between perceived risk, perceived benefit and digital finance adoption on the basis of generation cohort.

In present times, the adoption and adaption of technology have become empirical. This paper helps in determining the factors of perceived risk and perceived benefits in order to understand the willingness or hesitance of people to adopt digital finance. An attempt is made to study the influence of perceived risk and benefit as the determinants of digital finance adoption. The data were collected from individuals of Northern India through a structured questionnaire. The study collected data from 411 respondents through a structured questionnaire. Partial Least Square Structural Equation Modelling has been adopted to analyze the data through SmartPLSv2. For better understanding, perceived risk constituted three constructs-Security risk, financial risk and performance risk, and perceived benefit included seamless transaction, economic benefit and convenience. The research concluded that both perceived risk and benefits influence the adoption of digital finance. Perceived benefit has more impact on digital finance adoption than perceived risk. The findings of the paper are beneficial for digital finance service providers and marketers to enhance the awareness and advantages of digital finance according to the needs of consumers. The present study adds value to the existing literature on the relationship between perceived risk, perceived benefit and adoption of digital finance.

Digital banking services have gained increasing acceptance among individuals, but some people still resist using these services. Hence, it is empirical to understand the behaviour of individuals to examine the reasons behind acceptance or rejection of technology. The present study intends to analyse the role of behavioural biases in adopting digital banking services. The study included three behavioural biases: herd behaviour, risk aversion and overconfidence bias. Further, the study examined user type—early and late adopters as a moderating variable for a better understanding of the consumer’s perception. The data for the research has been collected from 411 respondents through a structured questionnaire. The proposed model has been analysed with the help of the Partial Least Squares Structural Equation Modelling approach through SmartPLS software. The findings suggest that behavioural biases, namely overconfidence bias, herd behaviour and risk aversion bias, impacted adopting digital banking services. User type—early adopters and late adopters have also proven significant in the study as the moderating variable. The study will benefit the policymakers, bankers and researchers to contemplate behavioural biases and their influence on digital banking services keeping in mind the role of user types.