The use of digital payment for online shopping amongst millennials in the greater Durban area

Abstract

Digital 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.