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A project submitted to the Department of Banking and Finance

Cashless Policy and the Performance of Informal Sector Businesses

By

Kwame Mensah

U/2014/ABC/0199

In partial fulfilment of the requirements for the award of a Bachelor's degree

Supervisor: Dr. N. A. Adeyemi

2024

Abstract

This study assesses the effect of cashless payment policies on informal sector businesses — street traders, market stalls and transport operators. It surveys operators on adoption of transfers and POS, changes in sales volume, transaction costs and customer loss, and identifies what would make digital payments work better for the informal economy. The study is organised into five chapters covering the introduction, review of related literature, research methodology, data presentation and analysis, and the summary, conclusion and recommendations.

Table of Contents

Chapter One: Introduction

  1. 1.1 Background to the Study4
  2. 1.2 Statement of the Problem6
  3. 1.3 Aim and Objectives of the Study8
  4. 1.4 Research Questions10
  5. 1.5 Research Hypotheses12
  6. 1.6 Scope of the Study14
  7. 1.7 Limitations of the Study16
  8. 1.8 Operational Definition of Terms18

Chapter Two: Literature Review

  1. 2.1 Conceptual Review16
  2. 2.2 Theoretical Framework18
  3. 2.3 Empirical Review of Related Studies20
  4. 2.4 Gap in Literature22
  5. 2.5 Summary of Literature Review24

Chapter Three: Research Methodology

  1. 3.1 Research Design28
  2. 3.2 Area of the Study30
  3. 3.3 Population of the Study32
  4. 3.4 Sample and Sampling Technique34
  5. 3.5 Instrument for Data Collection36
  6. 3.6 Validity and Reliability of the Instrument38
  7. 3.7 Method of Data Collection40
  8. 3.8 Method of Data Analysis42

Chapter Four: Data Presentation and Analysis

  1. 4.1 Data Presentation40
  2. 4.2 Test of Hypotheses42
  3. 4.3 Discussion of Findings44

Chapter Five: Summary, Conclusion and Recommendations

  1. 5.1 Summary of Findings52
  2. 5.2 Conclusion54
  3. 5.3 Recommendations56
  4. 5.4 Suggestions for Further Studies58

References

Appendices

Final YearPreview only

Chapter One: Introduction

1.1 Background to the Study

This study assesses the effect of cashless payment policies on informal sector businesses — street traders, market stalls and transport operators. It surveys operators on adoption of transfers and POS, changes in sales volume, transaction costs and customer loss, and identifies what would make digital payments work better for the informal economy.

1.2 Statement of the Problem

Assesses how cashless payment policies affect sales, costs and survival of informal sector businesses. Existing approaches remain limited in reach, accuracy and ease of use, which creates the gap this study addresses.

1.3 Aim and Objectives

The aim of this study is to cashless policy and the performance of informal sector businesses. The specific objectives are to:

  1. review existing literature and systems related to the study;
  2. collect and analyse data using Survey research;
  3. evaluate the results against the stated problem;
  4. make recommendations for practice and further research.

1.4 Scope of the Study

Introduction: background to cashless policy and the informal economy, statement of the problem (cashless policies are designed around formal businesses while most daily commerce is informal), aim and objectives, research questions, scope, significance of the study, and definition of terms.

Chapter Two: Literature Review

Literature Review: theoretical framework, review of related works on cashless policy and the informal economy, gaps in existing studies, and a summary positioning this project. Literature Review: theoretical framework, review of related works on cashless policy and the informal economy, gaps in existing studies, and a summary positioning this project.

Chapters 2–5 are not part of this preview.