Point-Of-Sale (POS) Adoption in Nigeria: An Analysis of Users’ Behavioural Patterns Through the Lens of the Technology Adoption Model

Abstract

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.