M. N. Okeke


The study investigated the effect of cashless policy on development of small and medium scale enterprises in Anambra state. Automated teller machine (ATM) point of sales (POS, mobile banking (MB) and internet banking were regressed on small and medium scale enterprises. The population of the study was 1300 staff of 15 selected small and medium scale enterprises in Anambra state. Judgmental sampling technique was used to get the desired target sample size of 350. The tools used in analyzing the data collected were simple percentages, descriptive statistics and correlation analysis. The study also employed multiple regression analysis (MRA) method to determine the effect of cashless policy on small and medium scale enterprises. The result of the study indicate that Automated teller machine has a significant effect on the development of small and medium scale enterprises in Anambra state Point of sale has no influence on the development of Small and medium scale enterprises in Anambra state. Internet banking has a significant effect on the development small and medium scale enterprises in Anambra state, and Mobile banking has significant effect on the development small and medium scale enterprises in Anambra state. The study recommended that: government should provide uninterrupted power supply and adequate communication link while shortfall should be covered by banks through back-up arrangements to power standby generators in case of power shortage; commercial banks should ensure ease of usage, and customer interactive features in ATMs, POSs, mobile and on-line shopping systems. Government and the CBN should create awareness on the benefits derivable from cashless policy for the improvement of business well as economic development


Small and Medium Scale Enterprises, Automated Teller Machine (ATM), Point Of Sales (POS), Mobile Banking (MB) and Internet Banking (IB)

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