Barriers to Utilisation of Point of Sale (POS) Machines by Entrepreneurs for Effective Financial Transactions in Port Harcourt Metropolis
Prof. Joy AMESI & Peace T. TUWALE
Abstract
The study investigated Barriers to the Utilisation of Point of Sale (POS) Machines by Entrepreneurs for Effective Financial Transactions in Port Harcourt Metropolis. Three specific objectives, research questions and corresponding hypotheses guided the study. Descriptive survey design was adopted for the study and the population of the study consists of nine hundred fifty-one (951) entrepreneurs in Port Harcourt Metropolis. The sample size was two hundred and eighty- five (285) entrepreneurs. Simple random sampling technique was used for the study. Self- structured questionnaire was used for data collection. The instrument was structured on a 4-point rating scale of Very High Extent (VHE 4points), High Extent (HE 3 Points), Moderate Extent (ME 2 Points), and Low Extent (LE 1point scale). The instrument was titled Barriers to Effective the Utilisation of Point of Sale (POS) Machines by Entrepreneurs in Port Harcourt Metropolis (BEUPSMEPM). The instrument was validated by two experts in Business Education and one expert in Measurement and Evaluation. A reliability index of 0.74 was achieved using Cronbach Alpha Coefficient. Mean and Standard Deviation were used to answer the research questions and ANOVA was used to test the hypotheses at 0.05 level of significance. Findings from the study revealed that entrepreneurs identified unreliable bank network, unstable power supply affect their operation to a very high extent and POS terminal glitch to a high extent. The following recommendation was made amongst others; Banks and telecommunication service providers should collaborate to improve network connectivity and stability to ensure seamless POS transactions. This will reduce transaction failures.
Keywords
References
Journal of Science and Management Studies. 01(04), 60-64.
Adam, M. (2013).Electronic Banking Problems and Opportunities: The Sudanese Context.
European Journal of Business and Management, 5(22).
Adeoti, O. O. , (2013). Challenges to the efficient use of point of (POS) terminals in Nigeria.
African Journal of Business Management. 7(28), 2801-2806.
Agu, B. O., Nwankwo, S. N. P., & Onwuka, I. O. (2016). Point of Sale (Pos)-Adoption And
Challenges In Nigeria. International Journal of Social Science and Economic
Research, 2(2), 203-217.
Akerejola, W. O., Okpara, E. U., Ohikhena, P., & Emenike, P. O. (2019). Availability of
infrastructure and adoption of point of sales of selected small and medium enterprises
(SMEs) in Lagos State, Nigeria. International Journal of Academic Research in Business
and Social Sciences, 9(1), 137-150.
Anyanwu, G. I. & Anumaka, C. I. (2020). Point of Sale and Cashless Policy in Nigeria: Challenges
and Prospects. Asian Journal of Economics, Business and Accounting, 20(2), 42-57.
Chechi, Z. & Shirlow, R. (2023) POS System: Advantages and Disadvantages: Retrieved from
https://www.expertmarket.com/ca/pos/pos-system-advantages-disadvantage
Central bank of nigeian (2015). Exposure Draft On The Standards And Guidelines On Electronic
Channels Operation In Nigeria. Banking and payment system department.
Ezejiofor, R. A., Nwakoby, N. P., & Okoye, J. F. N. (2015). Globalization and development of
banking system in Nigeria. International Journal of Innovative and Applied Research,
3(12): 83- 91.
Hameli, K. (2018). A literature review of retailing sector and business retailing types. ILIRIA
International Review, 8(1), 67-87.
Khattab, I. A. H., Ahmed, B. S. A., & Omarabi, O. H. (2022). Original Paper Challenges Facing
the Use of Point Of Sale POS from Merchants and Banks? Employees Perspective in
Sudan.
Ogunsuyi, O., & Tejumade, S. O. (2021). Point of Sale Terminal Services and the Performance of
Small and Medium-sized Enterprises in Nigeria. International Journal of Social and
Management Studies, 2(4), 114-122.
Okonkwo, A. & Ekwueme, C. M. (2022). Effect of electronic payment on financial performance
of Nigerian deposit money banks. International Journal of Advanced Academic Research,
8(3), 105-117.
Ozoji, A.P, Iwara,O.E, Ezuwore-Obodoekwe, C.N , Inyada, S.J, Ezechukwu B.O, Ayem-Fella,
T.F, Ezuma C.O, Ebisi L.N. & Okoroiwu, K.L (2021). Insecurity of cash-less banking
transactions: an empirical evidence from Nigerian banks. Academy of Accounting and
Financial Studies Journal, 25(5), 1-23.
Saviour, M. (2022). Disadvantages of Operating A POS business in Nigeria: Retrieved from
https://branditechture.com/small-business/disadvantages-of-pos-business-in-
nigeria/#google_vignette
Seifu. m, (2017), Assessment on Challenges of E-Payment Service. Practice in Commercial bank
of Ethiopia(Published thesis).Addis Ababa, Ethiopia
Tijani, J. A. & Illugbemi,A. O. (, 2015). Electronic Payment Channels in the Nigeria Banking
Sector and its impacts on National Development, Asian Economic and Financial Review.
5 (3), 521-531.
https://www.universalcreativesolutions.com/insights/post/5-big-problems-commonly-
encountered-in-business-operations
Wikipedia (2024). Financial transaction. The free encyclopaedia
