Abstract:

Cash based transactions are increasing in Nigerian economic sphere and are draining public funds in terms of cost of cash management. Hence the government introduced the cashless policy to drain the economy of the excess cash. This shift in payment process is in line with scholars’ consensus on the need for strategic change in business processes. A number of factors triggered business process change, which includes technological developments such as payment process, vis-à-vis Point of Sale Terminal (POS).Change Sense of Urgency has been linked to behavioral intention (BI), thus researchers have used several theories to explain user BI. These theories were consolidated to form a Unified Theory of acceptance and Use of Technology (UTAUT). UTAUT is widely applied and extended to explain the phenomenon; however, ‘Customers’ Concern (CC) was neglected, despite importance of customers to business. This study aims to simultaneously examine the influence of CC along with UTAUT construct on BI. 321 valid data were collected from owners/managers of retail businesses in Nigeria, in a cross-sectional survey and were analyzed using Partial Least Square - Structural Equation Modeling (PLS-SEM) technique in SmartPLS software. Result of the analyses shows that CC, Performance Expectancy, Social Influence, and Facilitating Conditions significantly influences BI to use POS, while Effort Expectancy is not. Overall, the extended model was able to explain about 46% of variance in BI. Based on the result, managers’ decision is therefore influenced by their concern for their customers.