Socio Economic Factors Influencing E-Payments Adoption by the Nigerian Deposits Money Banks (DMBS): Perspective of the Bankers
Journal Title: International Journal of Management Sciences - Year 2015, Vol 5, Issue 11
Abstract
The use of e-payment is expected to improve financial transaction in Nigeria and a pointer to digital economy. Despite the improving trend in e-payments usage in the Nigerian deposits money banks the level of usage is still very low among the banks customers. This has thus become a subject of debate among the accountants and practitioners. This paper remains pertinent by exploring the socio economic factors influence on e-payments adoption by the customers of Deposits Money Banks (DMBs) in Nigeria. The paper aims to investigate the impact of marital status, age, education, job position and income on consumer willingness to use e banking in the view of the bankers.. Data were collected through a structured questionnaire administered on 220 staff of the sampled deposits money banks in Nigeria. The result of the Regression analysis produced coefficient of determination (R2) 0.9678 supported by high value of Adjusted (R2) significant at 0.9643. The result indicated that Socio economic factors like marital status, sex, age, education and job position had significant influence on E- payment system (EPS).The F-Value (1286.16) and P-Value (0.0000) also confirmed the significance of the model. Overall, the result indicates that demographic characteristics such as Sex, Age, Educational level and Position were associated with e-payments usage and significantly influence EPS adoption by the money deposit banks of Nigeria. It is therefore suggested as a matter of policy, continuous public awareness and consumer education on the invariability of e-payments usage to facilitate attainment of cashless economy.
Authors and Affiliations
M. O. Oladejo, Yinus Oluwaseun
Keywords
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