SOCIO – ECONOMIC FACTORS DETERMENING THE USE OF FINTECH IN NORTH MACEDONIA

Abstract

This paper analyzes the level of usage of digital financial applications or financial technology (FinTech) to make payments by individual users in North Macedonia, as well as identifies factors associated with these activities. The goal of the paper is to provide guidance to banks, financial institutions and other stakeholders by describing FinTech usage among adults according to various socioeconomic characteristics such as gender, age, education, social status, and previous knowledge and skills related to computer, as well as their financial literacy. The analysis employs logistic multivariate analysis to identify possible factors affecting individuals’ probability of using FinTech for payments.