Abstract: Nigerian payment systems are cash-driven and it is the main mode of payments transactions. However, the Point of Sales (POS), which is meant to encourage cashless economy as against the cash-centered operations, is challenged with issues of awareness creation and security. This study examined the awareness creation and adoption of POS of selected SMEs in Lagos state, Nigeria. The study adopted a cross-sectional survey research design. The population of the study consisted of selected SMEs who are users of POS in Lagos State estimated at 11,663 and sample size of 2,059. The respondents were selected from among the SMEs used for this study. A validated questionnaire from the sectors surveyed was used for the study. The sectors include: oil & gas, banking and insurance, and manufacturing. A total of 2,059 copies of the questionnaire were administered, with a response rate of 77.1%. The Cronbach’s alpha coefficients for the constructs are 0.727 for adoption of POS, 0.850 for awareness creation and 0.758 for POS security. The data were analysed using descriptive and inferential (Pearson Product Moment correlation) statistics. The findings revealed that there was a significant relationship between awareness creation and Adoption of POS (r=0.399; p < 0.01) and similar relationship between POS security and Adoption of POS (r = 0.437; p < 0.01). The study concluded that awareness creation had significant and positive relationship with adoption of POS of selected business organisations who are SMEs in Lagos State, Nigeria. The study thus recommended that adequate awareness creation be made so as to educate various stakeholders on the importance of the use of POS to ensure its adoption and assure of security of data transactions and reports generated using POS by the selected organizations in Lagos state, Nigeria.Abstract: Nigerian payment systems are cash-driven and it is the main mode of payments transactions. However, the Point of Sales (POS), which is meant to encourage cashless economy as against the cash-centered operations, is challenged with issues of awareness creation and security. This study examined the awareness creation and adoption of POS of selected S...Show More
