Point of sale and cashless policy in selected market

Abdallah Muhamud (), Thomas Alama Etalong (), Anatolijs Kriviņš () and Valters Kaze ()
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Abdallah Muhamud: University of Calabar, Nigeria
Thomas Alama Etalong: Enugu State University of Science and Technology, Nigeria
Anatolijs Kriviņš: Daugavpils University, Latvia
Valters Kaze: RISEBA University of Applied Sciences, Latvia

Entrepreneurship and Sustainability Issues, 2024, vol. 12, issue 1, 169-178

Abstract: The study examines the impact of Point of Sale (POS) business on implementing the cashless policy in the Nigerian economy. The Technology Acceptance Model theory served as the theoretical foundation for this investigation. The work adopts quantitative and qualitative approaches to gather data that aligns with the study's objective. 100 questionnaires were distributed among Point of Sale (POS) operators and users of the services in the Federal Capital Territory, Abuja, Nigeria. 100 respondents (first-degree holders and university students, aged 18-55) were purposively selected to have the necessary knowledge about the subject matter. Questions asked: How do POS transactions impact Nigeria's economy? What are the challenges faced by point-of-sale businesses in Nigeria? The survey period is from 10th October 2023 to 10th May 2024. The study found that the point-of-sale business has significantly impacted the Nigerian economy. It has contributed to financial inclusion, employment generation and consequent economic growth. However, among the factors identified as challenges to POS business and cashless policy in Nigeria are exorbitant transaction charges, lack of adequate infrastructure required to run POS, irregular network connectivity, which erodes the users' trust, and security of network communications. The study provides some plausible recommendations, such as improving the infrastructure and reducing charges, among others.

Keywords: point of sale; cashless policy; business; Nigeria; market (search for similar items in EconPapers)
JEL-codes: K22 M21 O16 O55 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:12:y:2024:i:1:p:169-178

DOI: 10.9770/jesi.2024.12.1(12)

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