Electronic Theses and Dissertations (Masters/MBA)

Permanent URI for this collectionhttps://hdl.handle.net/10539/37942

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    An exploratory study on digital payments on B2B vehicle fleet expenses: A South African perspective
    (University of the Witwatersrand, Johannesburg, 2023) Thomas, Justin Nicholas
    Managing vehicle fleet expenses is crucial for businesses worldwide, as they significantly impact profitability. In this research study, we investigate the realm of digital fleet payments, covering aspects of fleet management and digital payment adoption. Our findings shed light on the prevailing practices and provide valuable insights to enhance existing research. Fleet expenses, including fuel, tolls, and repairs, rank among the top costs for companies, often comprising up to 60% of operational expenditure. Effective fleet management is vital to control costs and maximise profitability. While transport-focused businesses typically have dedicated fleet management resources, non-transport-focused companies often rely on outsourcing fleet solutions. These solutions encompass various services beyond telematics devices, assisting in cost control, driver management, and vehicle performance optimisation. Key players in the industry include banking institutions, insurance companies, telematics providers, vehicle manufacturers, oil companies, and data analytics firms. Fuel and repair costs alone constitute 35% of the total cost of owning a vehicle fleet, making cost management a crucial aspect of remaining competitive. For many businesses, fleet-related expenses, such as fuel, tolls, and maintenance, account for approximately 50% of operational costs. Ensuring comprehensive cost visibility and appropriate management has become an imperative business goal. To conduct this research, we conducted a qualitative study using semi-structured interviews with a sample group of eight participants, consisting of CEOs, executives, senior managers, and industry experts in digital fleet payments in South Africa. Our findings revealed that fleet cards, still utilising magstripe technology, are the primary digital payment mechanism businesses in South Africa employ. However, the market is evolving with the emergence of safer options, such as contactless payments and EMV (encrypted chip and pin). Digital fleet payment solutions offer numerous advantages, including simplicity, spending control, billing consolidation, and fuel and maintenance information access. However, obstacles like the outdated three-party paradigm, limited international transaction utility, and credit restrictions for Small, Medium and Micro Enterprises (SMMEs) hinder the adoption of digital fleet management systems. Security concerns, including fraud and fuel theft, also pose iii challenges. Despite these obstacles, digital fleet payments have shown the potential to enhance B2B fleet management through improved efficiency, cost reduction, and innovative solution
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    The experience of participants in the South African fintech ecosystem
    (2021) Mncube, Lemuel Brandon
    The overall aim of the study was to determine the experiences of participants in the South African fintech ecosystem. The key participants in the fintech ecosystem were start-ups, government, financial institutions, customers and technology developers. Theories relating to the study were discussed in this research. The dissertation was based on qualitative research techniques, and the phenomenological methodology was used in the study. The target population was the players in the South African fintech ecosystem. A sample size of fourteen participants was drawn from the target population using purposive non-probability sampling. Interviews were used for data collection. Data were analysed using thematic data analysis. The research findings showed that poor governmental support, innovation, restrictive regulations weakening the ecosystem cohesion, poor coordination among stakeholders, the ability to scale the business, local culture, market competition and internal conflicts or disagreements between business partners were the key factors that affected the success of financial technologies in the South African ecosystem. In terms of policy recommendations, it was suggested that there was a need for increased collaboration between players in the fintech ecosystem, workshops and training programmes as well as improved financial inclusion