Fintech Payments as a Facilitator of Value Co-Creation—A Theoretical Framework

Fintech payments as a facilitator of value co-creation- a theoretical framework. The purpose of the study is to explore how the service-dominant logic (S-D logic) (Karpen, Bove and Lukas, 2012) can be extended to fintech payment services to assist create value for both users and organizations. This study takes the perspective of S-D logic by perceiving fintech payment modes as a technological application by which both users and organizations incorporate their operant and operand revenues to accomplish payment activities and thereby generate enticing value. The study develops a theoretical framework to describe this value co-creation process (Lacoste, 2016) by integrating task-technology fit as a mediator between the vendor’s resources and the value established, and expectancy-value theory as a mediator between the user’s resources and value established. A co-creation of value between users and vendors may be feasible with the help of this approach. S-D logic and the existing theories have been paired in very few studies to analyse the fintech payment usage behaviour. Therefore the foremost finding of this study is the conceptual framework that is developed. By adopting such a model, the fintech payment value chain can thrive as a type of ecosystem with shared institutional mechanisms and collaborative value generation via customer service experience. This will help to broaden the value chain’s scope in future research by fully integrating it into the value chain.