Abstract:
This study examined the impact of Financial Technology (FinTech) on business growth in Pallisa Town Council, with a focus on three key components: digital payment systems, mobile credit platforms, and e-banking services. The study aimed to determine how the adoption of these FinTech solutions influences operational efficiency, financial management, and overall business performance among small and medium enterprises (SMEs). The research employed a quantitative cross-sectional design, targeting 100 business operators within Pallisa Town Council. Data were collected using structured questionnaires and analyzed through correlation and regression techniques to establish the strength, direction, and predictive power of relationships between FinTech adoption and business growth. The findings revealed that all three FinTech components positively and significantly influence business growth, with digital payment systems demonstrating the strongest effect, followed by e-banking services and mobile credit platforms.
These results are interpreted through the lens of Diffusion of Innovation Theory, emphasizing that early adoption of FinTech solutions enhances operational efficiency, transparency, and financial accountability, while promoting wider uptake among the business community. Based on the findings, the study concludes that integrating digital financial solutions into business operations is crucial for promoting growth, sustainability, and competitiveness among SMEs. Recommendations include strengthening the adoption of digital payment systems, mobile credit services, and e-banking platforms to improve financial management, access to working capital, and transaction efficiency. The study acknowledges limitations related to its cross-sectional design, geographical scope, and reliance on structured questionnaires, and suggests areas for further research, including qualitative approaches, longitudinal studies, and exploration of mediating variables. Overall, the study contributes empirical evidence on the transformative role of FinTech in enhancing business growth in developing urban centers, providing practical insights for policymakers, business operators, and financial service providers.
