Customer adoption of mobile fintech in the South African middle income market

dc.contributor.authorJacobs, Penelope Lucy
dc.date.accessioned2023-11-23T09:50:29Z
dc.date.available2023-11-23T09:50:29Z
dc.date.issued2021
dc.descriptionA research report submitted in partial fulfilment of the requirements for the degree of Master of Management in Digital Business to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2021
dc.description.abstractThe financial industry level changes are adaptations to changes already taking place at a consumer level. Consumer behaviours are changing owing to the centrality of digital products accessed on mobile phones. Therefore, consumer lives are increasingly being digitally transformed. This study sought to chart both industry and consumer changes that are taking place in the middle income market of South Africa. This middle income market is highly banked and likely to be on the ‘right side of the digital divide’ in terms of high accessibility to digital products and services. However, this customer market’s digital transformation journey has not filtered down as much into individuals’ financial lives as into their social lives. As a result, this study explored factors that contribute to the customer adoption of mobile fintech in this market. A mixed methodology was employed, where multiple methods were used to firstly examine both positive facilitators and negative barriers to the customer adoption of mobile fintech in the middle income market. The top positive factors were found to be facilitators such as attitude, behavioural intention, and customer needs (utilitarian factors). The only found negative factor was the barrier of self-efficacy. Moreover, additional factors, outside of the found barriers and facilitators, further explained the nature of customer adoption for this context. Secondly, the middle income market’s digitally transforming behaviours were explored and found to be ungeneralisable due to nuances according to the various income and digital profile segments. As the middle income market is found to be an under-researched area when compared to underbanked and unbanked markets, this study clarifies the nature of this market at this time. It is a diverse customer segment that requires strategic enablers from fintechs, incumbent banks and government players if it is to show an accelerated curve in the adoption of mobile fintech.
dc.description.librarianTL (2023)
dc.facultyFaculty of Commerce, Law and Management
dc.identifier.urihttps://hdl.handle.net/10539/37157
dc.language.isoen
dc.rights.holderUniversity of the Witswatersrand, Johannesburg
dc.schoolWits Business School
dc.subjectCustomer adoption
dc.subjectMobile financial technology
dc.subjectDigital transformation
dc.subjectUCTD
dc.subject.otherSDG-8: Decent work and economic growth
dc.titleCustomer adoption of mobile fintech in the South African middle income market
dc.typeDissertation
Files
Original bundle
Now showing 1 - 1 of 1
Loading...
Thumbnail Image
Name:
JacobsPL_MMDB Final Research Report 2021.pdf
Size:
2.36 MB
Format:
Adobe Portable Document Format
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
2.43 KB
Format:
Item-specific license agreed upon to submission
Description: