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Point of sale and cashless policy in selected market

Author

Listed:
  • 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)

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.

Suggested Citation

  • Abdallah Muhamud & Thomas Alama Etalong & Anatolijs Kriviņš & Valters Kaze, 2024. "Point of sale and cashless policy in selected market," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 12(1), pages 169-178, September.
    • Handle: RePEc:ssi:jouesi:v:12:y:2024:i:1:p:169-178
    DOI: 10.9770/jesi.2024.12.1(12)
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    More about this item

    Keywords

    point of sale; cashless policy; business; Nigeria; market;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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