Digital financial inclusion in marginalised communities

This study investigates digital financial inclusion (DFI) through the lens of fintech adoption in marginalised communities in South Africa, focusing on townships. Drawing on the unified theory of acceptance and use of technology (UTAUT) and the FSCA’s Digital Financial Inclusion Trends Study, the research examines how access, literacy, trust, and usage behaviours shape adoption. Using qualitative thematic analysis of semi-structured interviews, the study identifies persistent barriers to inclusion, including limited digital literacy, lack of awareness of available fintech features, high data costs, and concerns over trust and security linked to scams, unauthorised deductions, and institutional reliability. Despite these challenges, participants demonstrated adaptive strategies, combining cash with selective digital use. Cash remains dominant for its visibility, control, and relevance in informal markets, reinforced by cultural practices and generational norms, yet fintech adoption grows where convenience, affordability, and safety are evident. The findings highlight a hybrid, socio-technical process of DFI, shaped by both structural conditions and behavioural drivers. This research contributes an explanatory framework that links user capability, contextual needs, and adoption outcomes, offering policy and design insights for advancing inclusive digital finance in township economies.