Adoption of FinTech among Street Vendors: A Pathway to Financial Inclusion and Business Sustainability

The rise of Financial Technology (FinTech) has changed the financial landscape. It has opened up new chances for inclusion and economic growth in both formal and informal sectors. Street vendors, who make up a large part of the urban informal economy, have often relied on cash transactions. This reliance has restricted their access to formal financial services. This paper looks at how street vendors are using FinTech tools, particularly mobile payments, digital wallets, and micro-lending platforms. It also investigates how these technologies improve financial inclusion and business sustainability. The study utilizes primary and secondary sources to assess the level of FinTech awareness, the factors affecting adoption, and the challenges vendors face. The results show that digital payment systems have made it easier for vendors to access finances, process transactions efficiently, and keep records. They have also improved trust and transparency in customer interactions. However, vendors still face barriers such as low digital literacy, unreliable network connectivity, and security issues. The paper ends by highlighting the need for training programs and policy changes to enhance digital inclusion in the informal sector, making FinTech a useful tool for sustainable livelihoods.