Ghana's banking sector and financial services, in general, have seen major significant technological. The implementation of e-ZWICH in Ghana in 2008 was welcomed with great enthusiasm as exciting news that would help the country transition to a cashless economy. Many Ghanaians signed up for the e-ZWICH, the first biometric payment system. After several years, it appears that interest and patronage have declined dramatically. The study investigated challenges and customer perception on E-zwich patronage in Rural Banks. The purpose of the study is to investigate the adoption and sustainability of E-Zwich service in Ghana. To achieve the purpose of the study a descriptive research design was adopted, using the quantitative approach and the administration of questionnaires to 349 respondents in the data collection process using convenience sampling. In this research, Statistical Package for Social Sciences (SPSS) was employed, whereas Structural Equation Modelling (SEM) technique using smart Partial Least Square (PLS) software version 3.0 was also employed. Two assumptions were made by way of hypotheses. The findings of the study revealed that in the comparison of patronage of E-zwich have positive impact on customer perception and E- zwich challenges. The study finds observed that there is a significant positive relationship between patronage of E-zwich on customer perception and E- zwich of challenges judging from the results of the respondents. The study recommends that, in order to increase patronage of e-ZWICH, GhIPSS should intensify their education on how to operate the stand-alone machine. Measures such as sensitization workshops should be organized by the GhIPSS to encourage Ghanaian companies and individuals and in particular the rural folks to patronize the service. Banks and other non-bank financial institutions should show interest and take up e-ZWICH as a core product. Financial institutions should step-up their customer relations in order to motivate and encourage current customers to continue to patronize the service.
| Published in | European Business & Management (Volume 7, Issue 3) |
| DOI | 10.11648/j.ebm.20210703.14 |
| Page(s) | 85-94 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Challenges, Customer Perception, E-Zwich, Patronage, Rural Banks and Ghana
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APA Style
Francis Osei, Ofori Daniel, Elizabeth Serwaa Boateng Koomson, Alfred Atakora, Poku Julia Agyapong. (2021). Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana. European Business & Management, 7(3), 85-94. https://doi.org/10.11648/j.ebm.20210703.14
ACS Style
Francis Osei; Ofori Daniel; Elizabeth Serwaa Boateng Koomson; Alfred Atakora; Poku Julia Agyapong. Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana. Eur. Bus. Manag. 2021, 7(3), 85-94. doi: 10.11648/j.ebm.20210703.14
AMA Style
Francis Osei, Ofori Daniel, Elizabeth Serwaa Boateng Koomson, Alfred Atakora, Poku Julia Agyapong. Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana. Eur Bus Manag. 2021;7(3):85-94. doi: 10.11648/j.ebm.20210703.14
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author = {Francis Osei and Ofori Daniel and Elizabeth Serwaa Boateng Koomson and Alfred Atakora and Poku Julia Agyapong},
title = {Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana},
journal = {European Business & Management},
volume = {7},
number = {3},
pages = {85-94},
doi = {10.11648/j.ebm.20210703.14},
url = {https://doi.org/10.11648/j.ebm.20210703.14},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20210703.14},
abstract = {Ghana's banking sector and financial services, in general, have seen major significant technological. The implementation of e-ZWICH in Ghana in 2008 was welcomed with great enthusiasm as exciting news that would help the country transition to a cashless economy. Many Ghanaians signed up for the e-ZWICH, the first biometric payment system. After several years, it appears that interest and patronage have declined dramatically. The study investigated challenges and customer perception on E-zwich patronage in Rural Banks. The purpose of the study is to investigate the adoption and sustainability of E-Zwich service in Ghana. To achieve the purpose of the study a descriptive research design was adopted, using the quantitative approach and the administration of questionnaires to 349 respondents in the data collection process using convenience sampling. In this research, Statistical Package for Social Sciences (SPSS) was employed, whereas Structural Equation Modelling (SEM) technique using smart Partial Least Square (PLS) software version 3.0 was also employed. Two assumptions were made by way of hypotheses. The findings of the study revealed that in the comparison of patronage of E-zwich have positive impact on customer perception and E- zwich challenges. The study finds observed that there is a significant positive relationship between patronage of E-zwich on customer perception and E- zwich of challenges judging from the results of the respondents. The study recommends that, in order to increase patronage of e-ZWICH, GhIPSS should intensify their education on how to operate the stand-alone machine. Measures such as sensitization workshops should be organized by the GhIPSS to encourage Ghanaian companies and individuals and in particular the rural folks to patronize the service. Banks and other non-bank financial institutions should show interest and take up e-ZWICH as a core product. Financial institutions should step-up their customer relations in order to motivate and encourage current customers to continue to patronize the service.},
year = {2021}
}
TY - JOUR T1 - Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana AU - Francis Osei AU - Ofori Daniel AU - Elizabeth Serwaa Boateng Koomson AU - Alfred Atakora AU - Poku Julia Agyapong Y1 - 2021/06/30 PY - 2021 N1 - https://doi.org/10.11648/j.ebm.20210703.14 DO - 10.11648/j.ebm.20210703.14 T2 - European Business & Management JF - European Business & Management JO - European Business & Management SP - 85 EP - 94 PB - Science Publishing Group SN - 2575-5811 UR - https://doi.org/10.11648/j.ebm.20210703.14 AB - Ghana's banking sector and financial services, in general, have seen major significant technological. The implementation of e-ZWICH in Ghana in 2008 was welcomed with great enthusiasm as exciting news that would help the country transition to a cashless economy. Many Ghanaians signed up for the e-ZWICH, the first biometric payment system. After several years, it appears that interest and patronage have declined dramatically. The study investigated challenges and customer perception on E-zwich patronage in Rural Banks. The purpose of the study is to investigate the adoption and sustainability of E-Zwich service in Ghana. To achieve the purpose of the study a descriptive research design was adopted, using the quantitative approach and the administration of questionnaires to 349 respondents in the data collection process using convenience sampling. In this research, Statistical Package for Social Sciences (SPSS) was employed, whereas Structural Equation Modelling (SEM) technique using smart Partial Least Square (PLS) software version 3.0 was also employed. Two assumptions were made by way of hypotheses. The findings of the study revealed that in the comparison of patronage of E-zwich have positive impact on customer perception and E- zwich challenges. The study finds observed that there is a significant positive relationship between patronage of E-zwich on customer perception and E- zwich of challenges judging from the results of the respondents. The study recommends that, in order to increase patronage of e-ZWICH, GhIPSS should intensify their education on how to operate the stand-alone machine. Measures such as sensitization workshops should be organized by the GhIPSS to encourage Ghanaian companies and individuals and in particular the rural folks to patronize the service. Banks and other non-bank financial institutions should show interest and take up e-ZWICH as a core product. Financial institutions should step-up their customer relations in order to motivate and encourage current customers to continue to patronize the service. VL - 7 IS - 3 ER -
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