Assessing the role of electronic payment systems in the promotion of financial services development in Zambia: case study of Lusaka.
| dc.contributor.author | Chishimba, Mwape Bevan | |
| dc.date.accessioned | 2022-10-03T10:20:02Z | |
| dc.date.available | 2022-10-03T10:20:02Z | |
| dc.date.issued | 2022-08-05 | |
| dc.description | Thesis | en |
| dc.description.abstract | The main aim of the study was to assess the role of Electronic payment systems in financial services development in Zambia. Lusaka was chosen as a case study. Further, the study sought to establish what electronic payment systems are and review their current status, establish the relationship between the use of different forms of electronic payment systems and financial development. Lusaka province was chosen as a case study. The study also outlined a number of recommendations which could be implemented by various stakeholders to develop financial services by the use of electronic payment systems. A descriptive survey design was employed with a sample population of 50 participants consisting of 10 Bank of Zambia employees, 10 commercial bank employees, as well 30 members of the public – comprising 10 from the banked and 10 from the unbanked sectors. Data was collected using questionnaires and in-depth interviews. Quantitative data were analysed using a statistical application - SPSS, while content and thematic techniques were applied to analyse qualitative data. Electronic payment systems play a very important role in the financial development of any country. Financial development has a positive correlation with economic development of the country. Therefore, it can be argued that without safe, reliable, convenient and flexible payment systems in the country, financial services development would stagnate and economic development would equally be negatively affected. The study is of paramount importance to the country as it sought to establish the role that electronic payment systems play in promoting financial services development in the country. The study outlined how the various electronic payment systems foster financial services advancement and hence economic development to the benefit of the country and its citizenry. The study provides information that can be used as a valuable input by key stakeholders in the financial sector such as the Bank of Zambia, Ministry of Finance, Financial and Non-financial institutions, among others, in devising strategies aimed at achieving objectives of accelerating and expanding financial services to members of the public. The research findings form a useful basis or foundation for future studies in the financial sector with regards to electronic payment systems, whilst providing insight to the key stakeholders on areas that they need to concentrate on in order to achieve their aspirations. The study provides information necessary to help revise, devise or change policies in the financial sector in so far as the adoption and use of electronic payment systems is concerned. The study concluded that financial services development has an insignificant positive relationship with financial inclusion individually (mobile money financial services, mobile banking and agency banking) and collectively. However, a number of challenges have continued to impede the adoption and usage of EPSs. Among them; low public confidence in the use of EPS, inadequate regulatory framework to support and guide the operations of EPSs, lack of effective sensitisations campaigns to promote EPSs, lack of investment in infrastructure to help develop financial services in the country. Based on the findings of the study, a number of recommendations emerged, among them: the need for the use of EPSs in the economy to be supported to expand financial inclusion, the need for policymakers to develop and implement policies that will lead to an expansion in EPS usage. | en |
| dc.identifier.uri | http://dspace.unza.zm/handle/123456789/7803 | |
| dc.language.iso | en | en |
| dc.publisher | The University of Zambia | en |
| dc.subject | Electronic payment systems--Financial services--Development. | en |
| dc.subject | Electronic payment systems. | en |
| dc.title | Assessing the role of electronic payment systems in the promotion of financial services development in Zambia: case study of Lusaka. | en |
| dc.type | Thesis | en |