Perceived Entrepreneurs’ Influence of Point of Sale (Pos) and Mobile Wallets on the Growth of Small and Medium Scale Enterprises (Smes)

Abstract

The study examined the influence of point of sales (POS) and Mobile wallets on the growth of SMEs in

Anambra State. The study was guided by two research questions and four hypotheses. The study adopted

the mixed method research design which comprised quantitative and qualitative research design. The

population of the study was 981 registered SMEs in Anambra State. No sampling was conducted as the

entire population was used. The study used Google form questionnaire for data collection which was on a

four-point scale. Also, interview was used to collect first-hand information from the respondents. Data

collected from the respondents were analyzed using mean and standard deviation to answer the research

questions while the independent t-test was used to test the null hypothesis at 0.05 level of significance. The

study found that Point of Sales (POS) and Mobile wallets positively influenced the growth of SMEs in

Anambra State. Also, there is significant difference in the mean ratings of the respondents on the influence

of POS and Mobile wallets on the growth of SMEs with regards to gender and location. The study

recommended that, Managers of financial institutions should continuously upgrade fraud protection

features in digital payment platforms (Point of Sales, POS and Mobile wallets) to build trust and encourage

their adoption among SMEs. Government agencies and financial institutions should organize training

programs to educate entrepreneurs on the effective use of Point of Sales (POS) and Mobile wallets and their

benefits