JEFMS Journal

ABSTRACT:

The use of point of sale (POS) in providing banking services has become rampant in Nigerian banking sector especially in Ekiti State. This study therefore determined effects of cash withdrawal, money transfer and payment for utilities using POS terminals on customer satisfaction in the Nigerian banking sector. 320 regular customers of POS operators used for the study were selected through systematic and purposive sampling techniques. Primary data collected were analysed with the aid of Logit model. Findings from the study revealed that confidentiality, speed of transaction, friendliness of POS operator, competitive charges and convenient location were the major determinants of satisfaction when customers accessed POS to make withdrawal, money transfer and payment for utilities. The study concluded that deployment of POS significantly and positively influenced customer satisfaction in the banking sector in Nigeria and recommended more deployment of POS by banks with a view to decongesting banking halls and reduce queues at ATM terminals.

KEYWORDS:

Point of sale, customer satisfaction, money transfer, payment for utility, cash withdrawal

REFERENCES:

1) Adeoti, O.O. 2013. Challenges to the efficient use of point of sale (POS) terminals in Nigeria. African Journal of Business Management , 7(28), 2801-2806.
2) Nwani, J. J., Nwaimo, C. E., Kanu, S. I., and Chinonso, K. E. 2020. Cashless policy and the Nigerian payment system, International Journal of Innovation and Economics Development, 5(6), 7-29.
3) Lim, H., Widdows, R., and Park, J. 2006. M-loyalty: winning strategies for mobile carriers. Journal of Consumer Marketing, 23 (4), 208–218.
4) Mohsan, F., Nawaz, M. M., Khan, M. S., Shaukat, Z., and Aslam, N. 2011. Impact of customer satisfaction on customer loyalty and intentions to Switch: Evidence from banking sector of Pakistan. International Journal of Business and Social Science, 2(16), 263-270.
5) Lee, K., and Joshi, K. 2007. An empirical investigation of customer satisfaction with technology mediated service encounters in the Context of online shopping. Journal of Information Technology Management, xviii(2), 18-37.
6) Oliver, R. L. 1980. A cognitive model of the antecedents and consequences of satisfaction decision. Journal of Marketing Research, 17, 47-49.
7) Spreng, R.A., MacKenzie, S.B., and Olshavsky, R.W. 1996. A Reexamination of the Determinants of Consumer Satisfaction, Journal of Marketing, 60, 15-32.
8) Mafimisebi, O. E., Akinbobola, T.P., Mafimisebi, T.E., Ugbedeojo, M.M., and Olarinde, B.E. 2019. Effect of point of sales (POS) utilization on effective demand for agricultural commodities in stores and supermarket in Akure metropolis, Ondo state, Nigeria. The 6th African Conference of Agricultural Economists,September 23-26, 2019, Abuja, Nigeria.
9) Adeoti, O., and Osotimehin, K. 2012. Adoption of point of sale terminals in Nigeria: Assessment of consumers’ level of satisfaction. Research Journal of Finance and Accounting, 3(1), 1-6.
10) Njenga, S., and Ismail, S. N. 2017. Role of electronic point of sale on supply chain performance in retail sector in Kenya among selected supermarket chains in Nairobi county. European Centre for Research Training and Development, 5(2), 19-55.