Consumer Attitude towards Electronic Payment Systems in the Banking Industry in Ghana

Despite the availability of alternate payment systems such as cheque payments, mobile payments, online payments, and card payments, most Ghanaians still use the former methods of payment. The study assessed Ghanaian consumers’ perception about electronic payments. These included identifying the main determinants of consumer acceptance and use of electronic payment services in Ghanaian banks, assessing customer satisfaction with e-payment in the Ghanaian banking industry, and deterring fraud. The study used purposive sampling to choose participants from the employees and systematic sampling to select customers. As part of the findings, consumers' attitudes towards electronic payment systems are influenced by usability, security, privacy, after-sales service quality, marketing mix, and reputation. The study found that consumers are pleased with the value provided for their banking needs and the ability to test e-payments in the banking industry. The study also indicated that low internet and fewer users, expensive and difficult e-commerce technology, and lag in other supporting sectors are obstacles, while customers' major concerns are trust and security. It found confidence and security as important reasons for not using electronic payment systems. The technology can also boost the economy by allowing customers and banks to access a bigger market and join the global payment system. Stakeholders should provide enough assurance of security for using electronic payment system on their privacy to lure the unbanked into the system without necessarily keeping accounts with them.