Proceedings of the 2nd (Hybrid) International Conference, Faculty of Social Sciences, Niger Delta University, Held on March 13, 2024
March, 2024
Pages 259-269
DOI: 10.36108/wjss/ConfP.2024.015
THE IMPACTS OF POINT OF SALE (POS) ON ECONOMIC GROWTH IN NIGERIA
Ebipuamere Ekiye
Abstract
The use of Point of Sale (POS) has created a lot of innovative change in the financial transaction of lots of Nigerians in the business world. The study examined the impact of POS on economic growth in Nigeria. The statistical analysis method was adopted in this study. The data were analyzed with econometric techniques involving descriptive statistics, Augmented Dicker Fuller and Philip Perron tests for unit roots and the ordinary least square (OLS). The results from the coefficient (0.518247) and the probability value (p. = 0.0183< 0.05) showed that point of sale (POS) had a positive and significant effect on the annual growth of gross domestic product (RGDP). The volume of transactions on Point of sale has significant impact on economic growth in Nigeria from Table 5 above since the probability value is less than 5% (0.0183<0.05), the null hypothesis is rejected while the alternative hypothesis is accepted implying that the point of sale has a significant impact on economic growth in Nigeria. Based on the findings, it was recommended amongst others that the ease of use, and customer interactive features in mobile and online shopping systems should be improved.
Keywords: Impacts, Point, Sale, (POS) Economic and Growth.