Innovating E-Payment System to Boost Marketing of Entrepreneurial Products: Case of Pan-African Payment and Settlement System (PAPSS)

1 Oloveze, O. Ambrose  –  2 Okonkwo, V.O. Raphael  – 3 Oteh, O. Ukeh –

4Ollawa, O. Charles –  5Onya, O. Victoria

1.2.3.4Marketing Department, Michael Okpara University of Agriculture Umudike – P.M.B 7267, Umuahia, Abia State, Nigeria

5Department of Business Administration – Alex Ekwueme Federal University Ndufu-Alike Ikwo – P.M.B 1010, Ebonyi State, Nigeria

Correspondence: [email protected]

Received: May 30, 2023,    Revised: October 8, 2023,     Published: December  1, 2023

Abstract

Technological advancements are impacting e-payment innovations. The effort directed towards the innovation of e-payment system in Nigeria to boost marketing of entrepreneurial product is a promising move that has potential to impact Nigeria’s business landscape. The purpose of the study is to investigate the determinants of entrepreneurs’ intention to use pan-African payment and settlement system (PAPSS) for e-commerce cross-border payments. PAPSS is a novel sub-Saharan African cross-border payment innovation for cross-border trade. Cross-sectional design was adopted in the study. 182 samples were pooled from entrepreneurs using self-administered questionnaire that was adapted from related studies and validated using confirmatory factor analysis. Structural equation modeling was adopted in data analysis. Entrepreneurs consider trust, attitude, and relative advantage to have direct influence in adopting the innovation despite the weak nature of relationship. The result highlights entrepreneurs’ interest on improved performance thereby providing developers with insight on areas of improvements to encourage mass adoption.

Keywords: E-payment, PAPSS, entrepreneur, SME, user behaviour, E-marketing, IT adoption, Innovation


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DOI: https://doi.org/10.23918/ejmss.V4i2p61


Citation

Oloveze, O. Ambrose ; Okonkwo, V.O. Raphael ; Oteh, O. Ukeh ; Ollawa, O. Charles ; Onya, O. Victoria. (2023). Innovating e-payment system to boost marketing of entrepreneurial products: Case of Pan-African Payment and Settlement System (PAPSS). Eurasian Journal of Management & Social Sciences. doi:10.23918/ejmss.V4i2p61


© Oloveze, O. Ambrose ; Okonkwo, V.O. Raphael ; Oteh, O. Ukeh ; Ollawa, O. Charles ; Onya, O. Victoria, Published by EJMSS. This article is published under the Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0) license. Anyone may copy and redistribute the material in any medium or format, subject to full attribution to the original publication and authors. The full terms of this license may be seen at https://creativecommons.org/licenses/by-nc/2.0/


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