Online banking users' perceptions in South Africa: An exploratory empirical study

The main objective of this paper is to investigate the factors that influence users' adoption and acceptance of online banking in South Africa, based on 324 respondents' current perceptions of the service. This paper reports empirical findings of an exploratory study in South Africa. The findings confirm security risk as main concern, while convenience ranks as the main benefit for using online banking. Financial institutions need to find ways to mitigate security problems and enhance their communication strategies to encourage the uptake of online banking service. Given the ever-improving internet penetration rate in South Africa and considering that a huge number of adult banked South Africans already having internet access, it is important to investigate why these banked adults are not adopting online banking.