Challenges Inhibiting E-Zwich Electronic Payment System

Rajesh Arora, Martin Mabeifam Ujakpa, Fundisi Jonathan, Kwasi Appiah-Annin, Peter Tackson Mwanza


The objective of the study is to establish the challenges of e-zwich electronic payment system in Ghana. To achieve this, studies examined the ownership and usage of e-zwich smart cards, established challenges of e-zwich payment system in Ghana and determine factors that are responsible for the challenges of the e-zwich payment system in Ghana.The research study employed the qualitative research design. The population for the research comprised of 368,217 Representatives and Senior Officers 25 selected Banking and Financial Institutions from the Tarkwa Nsuaem Municipality. The sample size of 100 for the study was determined using the International Fund for Agricultural Development (IFAD) formula. Respondents for the study were then chosen using the purposive sampling technique. Data collection instruments employed for the study is questionnaires and interview.The study found that there is a high preference for Electronic Payment Systems (EPS) by the youthful population. Most people that use electronic payment models were educated and have basic knowledge of the benefits and use of Electronic payment instruments. ATM dominated as the most used medium for electronic transactions by customers. It was followed by the e-zwich payment system and the least patronized electronic payment system was cheques. Though some people had one or more electronic payment instruments, they were reluctant to use it for electronic transactions as a result of challenges of electronic payment systems. With specific references to e-zwich payment system, the study established the following challenges; ccustomers’ lack of Information Technology knowledge/skills and e-zwich complex operating procedures. Factors that cause these challenges include customers’ preference for cash payments, inadequate education on the e-zwich payment system, preference for human tellers, inadequate e-zwich Point Of Service devices and negative attitudes towards new products.

Keywords: E-zwich, electronic payment system(EPS), Ghana Interbank Payment and Settlement System (GHIPSS), Point of Sale terminal (POS), host server

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ISSN (Paper)2224-5782 ISSN (Online)2225-0506
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