Advancing Financial Capability Among Teachers in Outlying Urban Areas Through Digital Finance

There is a lack of research investigating the potential of digital finance tools and solutions to improve the financial capabilities of peri-urban teachers in South Africa. Thus, the objective of this study was to examine the influence of digital finance on improving the financial capabilities of peri-urban teachers. Understanding the adoption patterns, challenges, and impact of fintech in this specific context could contribute valuable insights to both academic literature and educational policy. This study employed a positivism research paradigm using a questionnaire survey as the research instrument. There were 246 high school teachers who participated in this study who were selected using systematic random sampling. The research findings indicated that a majority of peri-urban teachers possessed proficient knowledge of financial technology. They employed this knowledge to engage in online shopping, make electronic bill payments, and execute cash transactions over the internet. Furthermore, their adeptness in digital finance enabled them to make use of online financial services, leading them to rank internet banking as the most convenient banking method, surpassing branch banking and ATM services. However, these teachers expressed concerns about the security risks associated with internet banking, citing the potential for online hacking or scams that could result in financial losses.