Cardless banking in the Nelson Mandela Metropole: A means of financial inclusion for the excluded
Journal of Economic and Financial Sciences
| Field | Value | |
| Title | Cardless banking in the Nelson Mandela Metropole: A means of financial inclusion for the excluded | |
| Creator | Kinsman, Jasmine E. | |
| Description | Orientation: The growth of mobile phone usage and wireless connection has transformed the manner in which financial services are provided. However, it has failed to increase the accessibility to formal banking facilities for the underbanked population.Research purpose: To determine their perceptions and intentions of cardless banking among underbanked consumers.Motivation for the study: The financial inclusion of underbanked consumers is increasingly important given the current social welfare payment crisis in South Africa.Research design, approach and method: The study made use of a quantitative research approach using surveys to collect data from 175 underbanked consumers.Main findings: The study revealed that underbanked consumers have positive perceptions of the complexity, trialability and compatible advantages of using cardless banking.Practical/managerial implications: Underbanked consumers and social grant beneficiaries should be allowed to try cardless banking before using it to experience its benefits in order to assess how suitable it is to their circumstances without the risk of loss or barriers should they not prefer it. Little to no special training should be required in order to use cardless banking, and it must be easy to explain to their friends and family how it works.Contribution/value-add: Recommendations are made to financial institutions who intend on capturing the underbanked consumer segment, the National Treasury and other governmental institutions who wish to increase financial inclusion to underbanked consumers and especially to South African Social Security Agency (SASSA) when considering an alternative payment method for social grant beneficiaries. | |
| Publisher | AOSIS | |
| Date | 2019-04-24 | |
| Identifier | 10.4102/jef.v12i1.182 | |
| Source | Journal of Economic and Financial Sciences; Vol 12, No 1 (2019); 11 pages 2312-2803 1995-7076 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://jefjournal.org.za/index.php/jef/article/view/182/610
https://jefjournal.org.za/index.php/jef/article/view/182/609
https://jefjournal.org.za/index.php/jef/article/view/182/611
https://jefjournal.org.za/index.php/jef/article/view/182/608
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