Point of Sale (POS) and Job Creation in Enugu State, Nigeria: A Study of Nsukka Urban, 2012-2021
Keywords:
Points of Sales, Job CreationAbstract
One of the greatest problems facing most Nigerian urban, rural and remote settlements is how to access banks and their services for daily businesses. Almost every transaction for business and services requires either physical cash or an online cash transfer. The high rate of youth unemployment and need for easy and accessible cash transaction have prompted an urgent need to provide mobile banking services to meet up with the high demand of and accessibility of bank services to customers in Nigeria. Between 2017 and 2021 the number of POS terminals grew from 155,462 to 542,109. Over the last years, the value as well as the volume of POS payments in Nigeria experienced a great increase. Indeed, scholars over the years have been concerned with the study of Point of Sale (POS) business and its ability to provide services in Nigeria. However, the impact of POS business on job creation in Nsukka urban of Enugu state has not been adequately studied. This study seeks then to fill the gap. Using the documentary and descriptive survey method of data collection, content analysis and descriptive quantitative method for data analysis, this study applies the Diffusion of Innovation (DOI) theory to determine the impact of POS business on job creation in Nsukka urban. Hence, the study will determine whether the introduction of mobile banking/POS enhanced job creation in Nsukka urban from 2012-2021 and ascertain if the increase of POS terminals increased income of POS vendors in Nsukka urban, from 2012-2021. The study found that the introduction of mobile banking/POS has enhanced the growth of small-scale businesses and a great reduction of youth unemployment in Nsukka urban from 2012-2021. Therefore, the study recommended that proper sensitizations and education should be carried out by the various financial institutions on the different operations and security of the doing business with POS, thus, helping to encourage people to do more with POS in Nsukka urban.
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