CASHLESS POLICY AND BANKING SECTOR SERVICES IN AWKA METROPOLIS

Abstract

This study examined the cashless policy and the Nigerian banking sector service in the Awka metropolis.
For the purpose of the study, three objectives were formed which included the effect of cashless policy
components like electronic payment systems on banking services, access to financial services and financial
innovations of banks in the Awka metropolis. The research adopted a survey research design and the sample
size was 74 while 74 questionnaires were distributed and 69 appropriately returned forming the basis for
conducting this study. The study was anchored on Technology Acceptance Model (TAM) and Modernization
Theory. The researcher using the Spearman rank correlation coefficient to test the hypotheses discovered
that the electronic payment system affected the banking services, financial innovation and access to
financial services significantly. Thus, the study recommended that electronic payment system should further
be improved to increase the service delivery among banks in Awka metropolis. The provision of electronic
payment system should be encouraged further too to continuously improve financial innovations and boost
financial reach in Awka metropolis, Anambra state, Nigeria.