ADOPTION OF CASHLESS TRANSACTION POLICY AMONG GUINEACORN (SORGHUM) TRADERS IN SELECTED LOCAL GOVERNMENT AREAS OF BAUCHI STATE, NIGERIA

Abstract

This study investigates the adoption of the cashless transaction policy among guinea corn (sorghum) traders in selected Local Government Areas of Bauchi State, Nigeria. Specifically, the study sought to: (i) describe the personal and socio-economic characteristics of guinea corn traders, (ii) determine their perception of cashless policies, (iii) ascertain the rate of adoption of cashless payment methods, (iv) identify socio-economic factors influencing adoption, (v) examine preferred e-payment methods, and (vi) highlight constraints affecting adoption. Data were obtained from 205 respondents using a structured questionnaire. Descriptive statistics, Likert scale analysis, and binary logistic regression were employed to analyze the data. The findings revealed a high level of awareness (96%) of cashless systems among traders, with Point of Sale (POS) and credit/debit cards as the most commonly used payment methods. Socio-economic factors such as age, education, gender, trading experience, and perception were found to significantly influence adoption. The major constraints identified include network failure, insecurity, and low digital literacy. Based on these findings, the study recommends improving digital infrastructure, enhancing financial literacy, and promoting trust and security in e-payment systems to facilitate wider adoption among rural traders.