Trust and socio-demographic influences on mobile banking adoption in South Africa: a longitudinal study

Purpose This longitudinal study explores how socio-demographic factors, including ethnicity and Living Standards Measures (LSM), alongside trust in banks, influence mobile banking adoption in South Africa. Design/methodology/approach Using 10 years of FinScope survey data, logistic regression analyses were conducted to assess the impact of socio-demographics and trust on mobile banking use. Findings Trust in banks positively influenced adoption, though its economic impact was modest. Individuals aged 30–39, higher-income earners and those with advanced education were most likely to adopt mobile banking, with income increasing adoption probability by 9.44%. Black individuals showed higher adoption rates compared to other ethnic groups. Practical implications Findings enable banks and fintechs to tailor strategies for targeted consumer segments while providing evidence for policymakers to address socio-demographic barriers to enhance financial inclusion. Originality/value This study uniquely integrates socio-demographic factors with trust in banks, offering fresh insights into financial inclusion and the distinct roles of ethnicity and living standards in mobile banking adoption.