point OF SALES determinants AND ADOPTION OF selected BUSINESS ORGANISATIONS
Because cash is the predominant form of payment for a variety of transactions, cash drives the Nigerian payment system. However, the Point of Sales (POS) Systems, which are intended to encourage cashless economy as opposed to cash-centric operations, are hampered by inadequate infrastructure such as network connectivity, lack of constant power supply systems, inadequate Internet, insufficient hardware and software required to run POS, limited bandwidth for data passage, security issues, lack of trust, inadequate customer education, and insufficient motivation to adopt POS.
This study evaluated the adoption and determinants of Point of Sale systems in the banking, oil and gas, retail, and airline sectors of Lagos State.
The research employed a cross-sectional survey design. The population of the study comprised of small and medium-sized enterprises (SMEs) in Lagos State that use POS in the selected industries, with a population size of 11,663 and a sample size of 2,059.
The respondents were picked at random among the organizations from which the data were collected. A verified survey was utilized. A total of 2,059 questionnaires were distributed, with a response rate of 77.1%. The Cronbach's alpha coefficients for the constructs varied between 0.7219 and 0.8010. Using descriptive and inferential (Pearson Product Moment correlation and Regression) statistics, the data were analyzed.
There was a significant correlation between infrastructure availability and POS adoption (r=0.349; p 0.01), POS security and POS adoption (r =.437; p 0.01), customer trust and POS adoption (r = 0.373; p 0.01), customer education and POS adoption (r = 0.477; p 0.01), and customer motivation and POS adoption (r = 0.399; p 0.01).
The R2 value of 0.733 (73.3%), indicating that the variance resulting from POS adoption can be explained by the indicated variables of infrastructure availability, POS security, customer trust, customer education, and consumer motivation.
The study found that the availability of infrastructure, POS security, customer trust, customer education, and customer motivation had a substantial and positive association with the adoption of POS in the selected SMEs in Lagos, Nigeria.
The study recommended that stakeholders ensure that infrastructure, POS security, customer trust, customer education, and customer motivation are in place in order to increase the use of POS in selected Nigerian businesses.
POINT OF SALES DETERMINANTS AND ADOPTION OF SELECTED BUSINESS ORGANISATIONS