Faculty of Commerce, Law and Management (ETDs)
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Item The barriers to Adoption of a Cashless Economy in South African Informal Markets: consumers’ perspective(University of the Witwatersrand, Johannesburg, 2024) Gandamipfa, Lutendo Nndwakhulu; Magida, AyandaThis study aims to enhance the Unified Theory of Adoption and Use of Technology (UTAUT2) by integrating security and privacy concerns associated with cashless payments (CLP). The research investigates impediments to adopting cashless payments in the informal sector among South African consumers. Data was collected through an online survey administered to South African informal sector customers using a quantitative approach. Four hundred and seventeen participants contributed, yielding three hundred and twenty-five usable responses for testing the research hypotheses. Structural Equation Modelling (SEM) via Analysis of Moment Structures (AMOS) was applied for data analysis. The findings reveal that Perceived Trust (PT) and Perceived Risk (PR) exert the most significant influence on the adoption of cashless payments. Social Influence (SI) also demonstrates a statistically significant impact on this adoption. Conversely, Performance Expectancy (PE), Effort Expectancy (EE), Price Value (PV), and Habit (Ht) exhibit statistically insignificant associations with this adoption. To create a more comprehensive model for determining cashless payment adoption in the informal sector, the researchers modified UTAUT2 by incorporating consumers' perceived trust and risk. Notably, there is limited research on adopting cashless payments within the context of the informal sector. The research findings hold implications for policymakers, banks, and fintech companies, offering insights into the factors contributing to the sluggish adoption of CLPs in the informal sector. This understanding can guide the design of appropriate solutions to address consumer concerns regarding using CLPs in the informal sector, facilitating a successful transition towards a cashless economyItem Digital payments adoption of informal small and medium enterprises in South Africa’s township economy(University of the Witwatersrand, Johannesburg, 2023) Mabaso, Nompilo; Magida, AyandaThe use of cash for making and receiving payments in South Africa’s townships continues to grow, despite the proliferation of alternative payment methods. Merchants operating informal businesses are reluctant to accept payments digitally, which further contributes to the socio-economic burdens experienced in townships. This study investigated merchants’ intention to use digital payment acceptance methods, specifically in the informal sector. The UTAUT2 was employed, extended with the Perceived Risk Theory. The study adopted a quantitative research approach. A questionnaire was used to collect data from 120 respondents online and face-to-face. The questionnaire was based on previously researched and theorised literature. Factor analysis, particularly Principal Components Analysis, was used to analyse the results. Correlation analysis was conducted to test the hypothesis, followed by multiple regression. The findings revealed that the independent variables Performance Expectancy, Effort Expectancy, Price Value and Perceived Trust all positively influenced the behavioural intention of informal merchants to use digital payment acceptance methods. Performance Expectancy had the strongest influence, whilst Perceived Risk was not found to have a negative influence on the behavioural intention of informal merchants to adopt