Abstract
This research assesses the levels of digital financial literacy (DFL) and the patterns of Fintech adoption among university students in South Africa. It expands the Unified Theory of Acceptance and Use of Technology (UTAUT) framework to investigate the impact of demographic factors on DFL as a precursor to Fintech utilisation. A quantitative methodology utilised convenience sampling to distribute 376 questionnaires at two public universities in South Africa. Data analysis employed descriptive statistics, exploratory factor analysis, Kruskal-Wallis tests, and multiple linear regression using IBM SPSS version 29.0, with reliability evaluated through Cronbach's alpha coefficients. Findings reveal moderate to high levels of DFL among university students; however, notable knowledge deficiencies exist concerning consumer rights and redress mechanisms. Demographic analysis indicated that gender had no significant impact on DFL levels, whereas income, age, and educational attainment showed significant correlations. Three components of DFL demonstrated positive and significant correlations with university students' intentions to adopt Fintech products and services; however, awareness of digital financial risks did not significantly influence these adoption intentions. The findings enhance the theoretical framework of technology acceptance models in emerging markets and offer empirical evidence regarding DFL's influence on Fintech adoption. This study provides evidence-based recommendations for policymakers, financial institutions, and educational administrators aiming to improve financial inclusion initiatives and increase Fintech utilisation among university students in South Africa.