Assessing fintech integration in pharmacy retail stores using the technology organization and environment framework

This paper examines the implementation of Financial Technology (FinTech) in pharmacy retail shops in Bangladesh, utilizing the Technology, Organization, and Environment (TOE) framework. Although FinTech has the potential to transform financial inclusion and the efficiency of businesses of the companies involved in small healthcare-related enterprises, this application has yet to be realized significantly. The study was conducted on 314 pharmacy retailers in eight divisions of Bangladesh by a structured questionnaire, and analyzed in SmartPLS through the Structural Equation Model (SEM). Results indicate that Top Management Support, Organizational Size, and IS/IT Knowledge all have a significant, positive relationship with FinTech integration and that the Relative Advantage relationship is of moderate effect. Complexity turned out to be a key barrier, whereas Compatibility, Regulatory Environment, and Competitive Pressure were of negligible effect. The model indicated 36.7 percent of the variance (R2 = 0.367), indicating a moderate predictive validity. This study is an eye-opener on how organizational readiness, simplification of technologies, and better regulatory prowess are important measures to ensure FinTech integration in pharmacy retailing within the developing world.