CUSTOMERS PERCEPTION ON THE BENEFITS OF A CASHLESS PAYMENT SYSTEM IN GHANA

Abstract

This study investigated the benefits of a cashless payment system.The main tool used in gathering information for this study was a questionnaire.  Persons within the Adentan-Madina locality were the targeted group.  Thus a variety of persons from different social background, educational level, and diverse occupations were conveniently sampled for the study.  Findings from the research showed that respondents were aware of the benefits derived from the usage of cashless payment system.  Respondents believed that E-payments were convenient for business transactions than the cash system, such that vast amount of payments of goods and services can be transacted via E-payment to avoid theft and robbery.  Consequently, there was the appeal to the government and the financial sector to the requisite infrastructure needed to enhance the usage of the cashless payment systems.