The Challenges and Opportunities of Implementing various Electronic-Payment Projects in Commercial Bank of Ethiopia: The case of Point of Sale (POS) Terminal
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Date
2017-06-22
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Addis Ababa University
Abstract
The main objective of this study is to identify the Challenges and Opportunities of Implementing various Electronic-Payment Projects in the Commercial Bank of Ethiopia: taking Point of Sale (POS) Terminal as a case study. Mixed research design was employed and primary data was collected through questionnaires and semi-structured interviews from employees and customers of the bank and analyzed using quantitative (statistical) and qualitative methods. The finding of this study reveals that the most challenging factor to the implementation of POS terminal is network failure. Organizational factors such as lack of employees' knowledge to answer customers' questions related to POS terminal, low support and follow up, lack of coordination and cooperation between different units of the bank viz. branches, districts, and E-payment process are considered as challenges in implementing POS terminal system. Moreover, payment mode factors such as double debit of accounts for single transaction due to connectivity failures, deduction of customers account for failed transactions are amongst the challenges identified by the study. Despite the aforementioned and other challenges, the study showed that Growing acceptance of POS terminal, the Business growth of the bank, NBE's policy direction that enforce banks to adopt technological innovation, change in the society life style i.e. the ongoing digital and technology revolution are some of the major opportunities identified by the study. Efforts at improving the connectivity of the network and security of transactions is recommended in order to efficiently adopt POS terminal payment system. Moreover, the study recommended the bank to raise public awareness on the use of payment cards for transactions on POS terminals, should improve the internal communication coordination, should facilitate proper and sustainable trainings for its employees to implement POS terminal payment system proficiently
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Keywords
Electronic payment,, point of sale terminal, challenges