article · International Journal of Management Knowledge and Learning
Examination of point-of-sale adoption across Nigeria reveals critical factors driving user uptake in the financial technology sector. Using the technology acceptance model, primary survey data from 258 participants evaluated the roles of perceived usefulness, ease of use, social norms, and barriers. Awareness and historical adoption rates are high, with 92.2 percent of respondents familiar with the technology and 95.3 percent having used it. Furthermore, 91.0 percent reported that these terminals substantially enhance payment processes and improve convenience and security by removing the necessity to carry physical cash. Statistical analysis indicates that perceived usefulness serves as the primary driver significantly influencing adoption decisions. While subjective social norms suggested a tendency towards influencing uptake, this relationship did not achieve statistical significance. These empirical insights offer guidance for terminal operators, policymakers, and business practitioners seeking to optimise payment solutions.
Cashless payment systems are vital for expanding digital financial inclusion and economic efficiency. Understanding that users primarily adopt terminals because of their practical utility, rather than social pressure, helps businesses and regulators design better payment infrastructures. These insights support efforts to improve transactional convenience and physical security across emerging commercial environments.
Fintech operators, terminal manufacturers, and payment service providers can use these findings to refine product marketing and system features, concentrating on functional benefits such as speed and cash reduction rather than social influence. Because the research evaluates an already widely deployed technology in a live market, the insights are applied and directly actionable for improving merchant acquisition strategies and system retention in Nigeria.
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The adoption of financial technology (FinTech) options varies among stakeholders in the form of early minority and late majority, which is also dependent on several factors. Previous studies have focused on the process of business integration and the active use of point of sale (POS) terminals for daily operations, with limited evidence of how ease of use, perceived usefulness and social norms have influenced adoption. Therefore, this study seeks to investigate how perceived usefulness, perceived ease of use, social norms and perceived barriers influence the adoption of POS systems among diverse stakeholders in Nigeria’s business environment. The study adopts a cross-sectional research design and obtains primary data from 258 participants using a validated questionnaire. The study is woven around the technology acceptance model and provides empirical explanations within the Nigerian context. The results show that most of the study participants (92.2%) are aware of point of sale (POS) technology, and most of them (95.3 %) have adopted the use of POS at one time or another. The analysis further shows that the majority (91.0 %) of participants reported that the utilisation of POS terminals substantially enhances their payment processes and eliminates the need to carry physical cash, suggesting greater convenience and security. The binary logistic regression revealed that perceived usefulness greatly influenced POS adoption among the participants. Although the perceived subjective norm posits a higher likelihood of influence on the adoption of POS, it was not statistically significant. The implications of the study were highlighted with appropriate recommendations for operators, policy and practice.
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DOI: 10.53615/2232-5697.15.311-324
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