Griffiths, Paul David RichardMukherjee, AbhishekSinha, Paresha N2025-10-222025-10-222025Griffiths, P. D. R., Mukherjee, A., & Sinha, P. N. (2025). Determinants of Fintech diffusion in emerging markets: a service ecosystem perspective. International Journal of Emerging Markets, 20(13), 356-376. https://doi.org/10.1108/IJOEM-04-2024-06781746-8809https://hdl.handle.net/10289/17732Purpose – This study aims to investigate the diffusion of financial technology (Fintech) in Vietnam by applying a service ecosystem perspective. It reconsiders traditional innovation diffusion approaches by focusing on the interplay of services, institutions and ecosystem dynamics across distinct Fintech service domains. Design/methodology/approach – This study employed a qualitative approach using the Knowledge Café method for data collection. Transcripts were coded and analysed thematically across different diffusion phases. Findings were validated through a half-day workshop with banking professionals. Findings – Government regulation in Vietnam has enhanced trust within the Fintech ecosystem, driving digital transactions and financial inclusion. However, as the regulations are heavily focused on the payment services, an uneven diffusion of innovation across the seven Fintech service domains is evident. Practical implications – Regulation can accelerate Fintech diffusion in early stages, as seen in Vietnam’s payments sector, but may hinder innovation as technologies mature. Policymakers must adapt regulatory frameworks to balance stability with ongoing innovation. Originality/value – This study advances theory by analysing Fintech diffusion by service domain rather than as a unified sector and by extending the innovation diffusion theory to an emerging market context. Applying a service ecosystem lens reveals the multi-level dynamics shaping Fintech adoption, offering a more nuanced understanding across domains.enAttribution 4.0 Internationalhttp://creativecommons.org/licenses/by/4.0/Journal Article10.1108/IJOEM-04-2024-06781746-88173503 Business Systems In Context35 Commerce, Management, Tourism and Services3502 Banking, finance and investment3506 Marketing3507 Strategy, management and organisational behaviour