An investigation of the adoption of cashless payment methods in retail stores: A study of supermarkets in Gombe State
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Background of the study
In recent years, cashless payment methods have become increasingly popular, offering convenience, security, and efficiency for both consumers and retailers. Cashless payment methods such as mobile wallets, credit and debit cards, and online payment platforms have transformed the retail landscape by eliminating the need for physical currency and enhancing transaction speed (Ibrahim & Musa, 2023). In Gombe State, supermarkets are gradually adopting cashless payment systems to accommodate the growing preference for digital transactions among consumers.
The adoption of cashless payment methods provides retailers with numerous benefits, including improved cash flow management, enhanced security, and the ability to track customer spending behavior more accurately. For customers, these methods offer faster, more convenient payment options, which can improve their overall shopping experience. However, the rate of adoption varies, and there may be challenges such as infrastructure limitations, customer resistance, or concerns about data security. This study will explore the factors influencing the adoption of cashless payment methods in supermarkets in Gombe State and their impact on the retail environment.
Statement of the problem
Despite the growing popularity of cashless payment methods, supermarkets in Gombe State face challenges in fully adopting these technologies. While cashless payments offer several benefits, such as convenience and security, many customers may still be hesitant to use these methods due to a lack of trust in digital payments or limited access to the necessary infrastructure. Additionally, retailers may struggle to integrate cashless payment systems with existing payment infrastructure or may be reluctant to invest in new technologies due to costs or lack of customer demand. This study seeks to investigate the factors influencing the adoption of cashless payment methods in Gombe State's supermarkets.
Objectives of the study
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To examine the factors influencing the adoption of cashless payment methods in supermarkets in Gombe State.
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To assess the impact of cashless payment methods on the efficiency of retail transactions in supermarkets in Gombe State.
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To explore customer perceptions and attitudes towards cashless payment methods in Gombe State's supermarkets.
Research questions
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What factors influence the adoption of cashless payment methods in supermarkets in Gombe State?
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How do cashless payment methods affect the efficiency of retail transactions in supermarkets in Gombe State?
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What are customer perceptions and attitudes towards cashless payment methods in supermarkets in Gombe State?
Research hypotheses
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The adoption of cashless payment methods in supermarkets in Gombe State is significantly influenced by factors such as convenience, security, and infrastructure availability.
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Cashless payment methods improve the efficiency of retail transactions in supermarkets in Gombe State.
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Customer perceptions of security and ease of use are key factors in the adoption of cashless payment methods in supermarkets in Gombe State.
Scope and limitations of the study
This study will focus on supermarkets in Gombe State and explore the adoption of cashless payment methods. Limitations include potential biases in customer perceptions of digital payment methods, and challenges in gathering data from businesses that may not have fully implemented cashless systems.
Definitions of terms
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Cashless Payment Methods: Payment systems that do not require physical cash, such as mobile wallets, credit cards, and online payment platforms.
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Retail Transactions: The exchange of goods or services for payment within the retail environment.
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Adoption: The process by which consumers or businesses begin to use a new technology or system.
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