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The remarkable rise of cybercrime and its catastrophic consequences pose a significant threat to global financial and banking institutions. Financial inclusion is essential in fostering economic development and enhancing individual empowerment. Integrating digital technologies in the banking sector, promotes digital financial inclusion. However, the increasing prevalence of cybercrimes poses a significant threat towards digital financial inclusion. Considering the rising cases of cybercrimes, the research model integrates the constructs of UTAUT and DOI theory, along with two additional constructs, viz. cyber fraud and cyber security awareness, in the context of digital financial inclusion through payment banking in rural India. By examining the effect of cybercrimes on trust and adoption intention, the study provides valuable insights into the implications of digital financial inclusion. The findings revealed that cyber fraud harms trust and payment banking adoption. Cyber security awareness, facilitating conditions, and trust positively affect payment banking adoption, ultimately enhancing digital financial inclusiveness in rural India. The structural model suggests that emerging cyber fraud has become a significant challenge to digital financial inclusion. In contrast, cyber security awareness among payment banking users could be helpful for rural digital banking users to protect their bank accounts from cyber fraud.
Afzal et al. (Mon,) studied this question.