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Challenges and Customer Perception on E-Zwich Patronage in Rural Banks in Ghana

Received: 28 May 2021     Accepted: 11 June 2021     Published: 30 June 2021
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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.

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), 2021. Published by Science Publishing Group

Keywords

Challenges, Customer Perception, E-Zwich, Patronage, Rural Banks and Ghana

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Cite This Article
  • 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

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    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

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    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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  • @article{10.11648/j.ebm.20210703.14,
      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}
    }
    

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  • 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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Author Information
  • Department of Marketing, School of Business, Kumasi Technical University, Kumasi, Ghana

  • Department of Entrepreneurship and Finance, Faculty of Entrepreneurship and Enterprise Development, Kumasi Technical University, Kumasi, Ghana

  • Department of Procurement and Supply Chain Management, School of Business, Kumasi Technical University, Kumasi, Ghana

  • Department of Marketing, School of Business, Kumasi Technical University, Kumasi, Ghana

  • Department of Marketing, School of Business, Kumasi Technical University, Kumasi, Ghana

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