An application of the extended technology acceptance model in understanding technology-enabled financial service adoption in South Africa

Abstract

The last 10 years have seen a significant increase in the provision of consumer services through technology. Computers, mobile phones, the Internet and self-service kiosks are examples of technology platforms that have enabled services to be offered to consumers in new ways. In South Africa, technology-enabled financial services have the potential to expand financial inclusion, especially at the bottom of the pyramid. There is a need to understand how consumers adopt technology-enabled services. Using grounded theory, an enhancement to the Technology Acceptance Model is proposed and developed to explain adoption of technologyenabled financial services. Confirmatory factor analysis is used to validate the model against data obtained from a survey. The proposed model fits the data well. Implications of the model are discussed.