Despite the several advantages, adoption of the FinTech services vary across individuals in different countries. This study proposes a model to examine how the country level ICT competitiveness, demographic and socio-economic factors influence the FinTech services diffusion in a country. In this study, we use Generalized Linear Mixed Model to analyze both the individual-level and country-level variables to explain the variation in the probability of individuals adopting FinTech services while accounting for the variance at each level. National ICT competitiveness especially political and regulatory environment, Infrastructure, ICT usage by firms demonstrated a stronger influence on the adoption of FinTech services. In addition, demographic variables and socio-economic status also demonstrated stronger evidence in explaining the variation in the adoption of FinTech services.
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