The Impact Of Electronic Payment System On The Impact Of The Growth Of Retail Business In Ghana

The purpose of this research is to investigate the impact electronic payment systems(EPS)has on the retail industry in Ghana.Ghana's retail industry is booming and the government is focusing on innovative ways to create financial institutions and instruments to carter to transactions of consumers and sellers.This study will take a closer look at the second hand clothing market in Kantamanto and automobile spare parts market at Abossey Okai.A multicase design was chosen for this study to build the theory of how the various EPS have impacted the growth of retail businesses in Ghana.Data was initially collected from a total of 300 respondents(150 each).However 240 respondents were used.The researcher concluded that almost all retailers favored that EPS plays a vital role in boosting retail business.Cost of transaction,convenience and time of transaction as well as reliability and efficiency were significant on the impact EPS has on the growth in retail business.Moreover,the choice of payment was a significant predictor of retailers' use of EPS-for the growth of the business.Most traders perceived EPS as an easy to use mean of payment and adopted this for the growth of their businesses.Cost of transaction was also a significant predictor of reasons retailers chose EPS for their business.Most retailers found EPS to be cost effective and efficient.Convenience and ease of use was critical in the growth of retailers business The findings showed that more than 85%of retailers agreed that EPS is highly beneficial to the remarkable growth in their businesses since its adoption.The study recommends a comparative analysis where retailers from different regions or geographical locations are compared to find out what interesting insights can be found.