Faculty of Management Sciences
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Item Perceptions regarding digital payments in online shopping amongst millennials in KwaZulu-Natal, South Africa(Durban University of Technology, 2022) Zitha, Themba; Penceliah, DarryContemporary business continues to leverage the opportunities of internet connectivity for marketing, sales, and visibility. Digital payment plays an imperative role in online shopping transactions. With the evolution of online shopping, there has been a paradigm shift from traditional payment methods to a faster digital payment method. This paper assesses millennials’ perceptions of digital payments for online shopping. A cross-sectional study was undertaken using a quantitative method. Three hundred and ninety-three millennials completed a self-administered questionnaire. Descriptive and inferential statistical methods were utilised to summarise and analyse the results. Respondents used different types of digital payments for online shopping, namely, credit card, debit card, micropayment, digital wallet, PayPal, Bitcoin, and in-app purchase. Some of the challenges pertaining to digital payment methods are security, privacy, and trust issues. There is a dire need to develop various interventions and strategies such as standardisation of the browser and device support to educate consumers, integrate more banks, develop synergy with credit card companies, reduce fees for low-risk transactions, make digital payment easier, and personalise the digital payment process and its value chain to make digital payments more secure and safe for effective transaction and online payments.Item The use of digital payment for online shopping amongst millennials in the greater Durban area(2021-10) Zitha, Themba; Penceliah, Darry SoobramoneyDigital payment performs a vital role in the transaction method of payment for online shopping. Online shopping is often the first step in gaining millennials’ attention before using digital payment. With the evolution of online shopping, there is a shift from traditional payment methods to digital payment methods. Online retail stores, online marketers and banking sectors understand the force behind millennials shopping online. The purpose of this exploratory study was to determine the millennials’ perceptions of using digital payment for online shopping. The cross-sectional study was undertaken using a quantitative method. Three hundred and ninety-three millennials residing in the greater Durban area of KwaZulu-Natal, South Africa completed a self-administered questionnaire. Descriptive and inferential statistics methods were utilised to summarise and analyse the results. Factors such as brand popularity and pricing influenced millennials’ online shopping behaviour. Some of the challenges of the digital payment method are security, privacy, and trust issues. Therefore, there is a need to develop intervention strategies that can create awareness among consumers to address their concerns.