Assessment of Fintech Payment Platform Service Quality in Savings and Loans Companies in Accra Metropolis

Abstract

This study examines service quality in FinTech payment platforms used by Savings and Loans Companies in Accra, Ghana, by analysing gaps between customers’ expectations and perceptions across the five SERVQUAL dimensions: tangibles, reliability, responsiveness, assurance, and empathy.

A quantitative research design was employed. Data were collected from 386 customers using a structured SERVQUAL-based questionnaire. Paired-samples t-tests were conducted to assess expectation–perception gaps, while paired correlations and Cohen’s d were used to evaluate the strength and practical significance of the observed differences. The results reveal statistically significant expectation–perception shortfalls across all five service quality dimensions, operationalised as positive E − P scores because expectations exceeded perceptions. The largest shortfall occurred in responsiveness, followed by assurance and reliability. Although expectations and perceptions were moderately to strongly correlated, the effect sizes were small but meaningful, indicating persistent service-quality deficiencies in FinTech payment platform delivery within the Savings and Loans sector.

This study extends the SERVQUAL framework to FinTech payment platforms within non-bank financial institutions, demonstrating its continued relevance as a theory-testing and diagnostic tool for evaluating service quality in technology-mediated financial services in an emerging economy context. The findings suggest that improvements in responsiveness, assurance, and reliability are particularly critical for strengthening service quality in FinTech payment platforms used by Savings and Loans Companies. From a policy perspective, the results provide empirical support for regulators such as the Bank of Ghana to develop service quality benchmarks and consumer protection standards, in line with ongoing efforts to enhance trust and performance within Ghana’s FinTech ecosystem.