Abstract
Nigerian payment systems are cash-driven and it is the main mode of payments transactions. However, the Point of Sales (POS), which is meant to encourage cashless economy as against the cash-centered operations, is challenged with issues of awareness creation and security. This study examined the awareness creation and adoption of POS of selected SMEs in Lagos state, Nigeria. The study adopted a cross-sectional survey research design. The population of the study consisted of selected SMEs who are users of POS in Lagos State estimated at 11,663 and sample size of 2,059. The respondents were selected from among the SMEs used for this study. A validated questionnaire from the sectors surveyed was used for the study. The sectors include: oil & gas, banking and insurance, and manufacturing. A total of 2,059 copies of the questionnaire were administered, with a response rate of 77.1%. The Cronbach’s alpha coefficients for the constructs are 0.727 for adoption of POS, 0.850 for awareness creation and 0.758 for POS security. The data were analysed using descriptive and inferential (Pearson Product Moment correlation) statistics. The findings revealed that there was a significant relationship between awareness creation and Adoption of POS (r=0.399; p < 0.01) and similar relationship between POS security and Adoption of POS (r = 0.437; p < 0.01). The study concluded that awareness creation had significant and positive relationship with adoption of POS of selected business organisations who are SMEs in Lagos State, Nigeria. The study thus recommended that adequate awareness creation be made so as to educate various stakeholders on the importance of the use of POS to ensure its adoption and assure of security of data transactions and reports generated using POS by the selected organizations in Lagos state, Nigeria.
Highlights
Nigerian payment systems are cash-driven and it is the main mode of payments transactions
“The user acceptance of technology has Akerejola Williams Olasojumi et al.: Awareness Creation and Adoption of Point of Sales of Selected Small and Medium Enterprises (SMEs) in Lagos State, Nigeria further been explained as the willingness within a user group to employ IT for the tasks it is designed to support [15].”
In examining the implications of adoption of Point of Sales (POS), it is necessary to look at how awareness creation and POS security relates with the adoption of POS of selected SMEs in Lagos state, Nigeria
Summary
“Organizations have become increasingly dependent on technologically based information to support and drive operational, tactical and strategic business activities, thereby making information technology intrinsic in today's business enterprise [34].”. Reasons given by CBN for low adoption rate of POS include but not limited to inadequate awareness creation and security of the transactions among others This observation indicated that “many buyers of goods and services still do that by cash, this brings about enormous risk and high cost of cash management. It has been posited that the “mode of use of technology is closely related to motivation and motivation is of intrinsic or extrinsic [43].”, while intrinsic motivation means performing an activity with inbuilt satisfaction and extrinsic motivation can be described as performing an activity in order to achieve a given objectives Another issue of concern in the adoption of technology in an organisation is security; this has been stressed in an article challenges to the efficient use of POS terminals in Nigeria. The complex nature of the device and the intelligence of hackers make it mandatory that adequate security be put in place in order to avoid or reduce the vulnerability of its use
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