Title:
POINT OF SALE (POS) - ADOPTION AND CHALLENGES IN NIGERIA

Authors:
Agu, Bertram Onyebuchi, Simon N, P, Nwankwo, Onwuka, Ifeanyi Onuka

Abstract:
The availability of an efficient payment system in an economy cannot be over emphasized. One of such payment platform is Point of Sale (POS). POS e-payment system has emerged as a powerful provider of fast and efficient payment platform in Nigeria. The quest for survival, global relevance, maintenance of existing market share and sustainable development have made the exploitation of many advantages of information and communication technology through the use of Point of Sale (POS) terminals. New platforms and protocols are being developed to be able to create and support a seamless and truly global service platform. This study examines some relevant standards and protocols for Point of Sale (POS) terminals and discusses POS services and their adoption within a conceptual framework. Data for the study were collected from general merchants (traders) business centers, restaurants/ eatery, supermarkets and others. The finding of this study showed that in spite of having POS terminals, most merchants still accept cash above POS. This is because according to the finding, POS deployment was involuntary as they were deployed by banks unsolicited. There should be increased awareness of consumers which will accelerate adoption of the POS terminals and card payment system.