The Gray Digital Divide: Barriers to Fintech Adoption Among Senior Citizens in Nigeria
DOI:
https://doi.org/10.71426/jassh.v1.i1.pp9-14Keywords:
Gray Digital Divide, Fintech Adoption, Senior Citizens, Financial Inclusion, Digital Literacy, AbujaAbstract
This study investigates the ``Gray Digital Divide,'' a phenomenon characterizing the exclusion of senior citizens (aged 60+) from the rapidly expanding financial technology (Fintech) ecosystem in Abuja, Nigeria. Against the backdrop of the Central Bank of Nigeria’s (CBN) 2023 cashless policy and currency redesign, this research examines the structural, cognitive, and psychological barriers preventing elderly adoption of digital banking. Using a descriptive cross-sectional survey design, data were collected from 151 senior respondents in the Abuja Municipal Area Council through assisted questionnaires. The findings reveal a paradox in which high smartphone ownership (64.9%) does not translate into meaningful Fintech usage, particularly for mobile applications. Key barriers identified include a ``trust deficit'' driven by fear of fraud, infrastructural hostility in the form of frequent network failures, and biometric exclusion arising from age-related physiological changes. Regression analysis confirms that digital literacy is the strongest predictor of Fintech adoption (β = 0.398), while security concerns and infrastructural unreliability significantly reduce usage. The study concludes that current Fintech systems are largely age-exclusive and recommends regulatory mandates for senior-first interface design and human-mediated digital support systems to achieve inclusive financial digitalization.
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