EFFECT OF PAYMENT SYSTEMS ON DOMESTIC HOUSEHOLD SAVINGS IN NIGERIA

Registration ID: IJNRD_190892

Published ID: IJNRD2305007

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Ogbole, Samuel Aboje

Payment Systems, Household Savings

This study investigated the effect of payment systems on domestic household savings in Nigeria. The specific objectives of the study were to examine the effect of cheque payment system on domestic household savings in Nigeria; to determine the effect of automated teller machines terminals on domestic household savings in Nigeria; to ascertain the effect of point of sales on domestic household savings in Nigeria; to find out the effect of webpay on domestic household savings in Nigeria and to investigate the effect of mobile pay on domestic household savings in Nigeria.The study adopted Ex-post facto research design and multiple linear regression model was used with the aid of STATA econometric software to analyze the data. Annual time series data for period 2009-2019 collected from the Central Bank of Nigeria statistical bulletin 2020. The dependent variable was domestic household savings while the independent variables included cheque, volume of automated teller machine transactions, web-pay, mobile-pay and point of sales respectively. The study found that cheque payment system has no significant effect on domestic household savings in Nigeria; automated teller machine terminals have significant effect on domestic household savings in Nigeria; point of sales have significant effect on domestic household savings in Nigeria, webpay have significant effect on domestic household savings in Nigeria and mobile pay has no significant effect on domestic household savings in Nigeria. It was concluded that these payment platforms are major contributor to customers’ propensity to save.The study recommended that policy makers and implementers such as the CBN and DMBs should sustain those policies that prevent carrying along huge sums of money by customers.

Published Paper   E-Certificate

Ogbole, Samuel Aboje (May-2023). EFFECT OF PAYMENT SYSTEMS ON DOMESTIC HOUSEHOLD SAVINGS IN NIGERIA. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(5), a50-a61. https://ijnrd.org/papers/IJNRD2305007.pdf

Volume 8 Issue 5, May-2023

Pages : a50-a61

Paper Reg. ID: IJNRD_190892

Published Paper Id: IJNRD2305007

Downloads: 000122253

Research Area: Management

Author Type: Foreign Author

Country: OTUKPO, BENUE, Nigeria

Published Paper PDF: https://ijnrd.org/papers/IJNRD2305007.pdf

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