INFLUENCE OF STRATEGIC FACTORS ON FINTECH POS ADOPTION AMONG MICRO, SMALL, AND MEDIUM SCALE ENTERPRISES (MSMEs) IN BOKKOS LOCAL GOVERNMENT AREA, PLATEAU STATE.

Abstract

This study assesses the strategic factors influencing the shift from traditional bank Point of Sale (POS) systems to fintech POS among Micro, Small, and Medium Scale Enterprises (MSMEs) in Bokkos Local Government Area of Plateau State, Nigeria. A descriptive survey research design and comparative approach were adopted, with UBA POS representing traditional bank POS and selected fintech POS providers. Primary data were collected through structured questionnaires administered to 300 MSMEs owners/operators and analyzed using descriptive statistics, correlation, and multiple regression techniques. The findings reveal that transaction efficiency (β=0.099, t=1.65, p>0.05) has no statistically significant relationship with fintech POS adoption, leading to the acceptance of the null hypothesis. However, cost of service (β=0.126, t=2.25, p<0.05), value-added financial services (β=0.349, t=5.62, p<0.001), and customer support with ease of use(β=0.266, t=4.35, p<0.001) show statistically significant and positive relationships with fintech POS adoption, resulting in the rejection of their respective null hypotheses. The study concludes that MSMEs’ preference for fintech POS is driven mainly by cost effectiveness, service flexibility, and supportive features rather than transaction efficiency alone. The study recommends that fintech banks Providers should continue to expand value-added services, MSMEs adopt POS platforms that align with their operational needs, and traditional banks improve pricing structures, value added services, and customer support to remain competitive.