Socio economic factors influencing use of cashless policy (epayment) among plantain farmers in Khana Local Government Area, Rivers State, Nigeria

Abstract

This study examined the socio economic factors influencing the use of policy (e- payment) among plantain farmers in Khana Local  Government Area, Rivers State, Nigeria. The study assessed the awareness and use of e- payment among plantain farmers, identified the perceived benefits with the use of e-payment, determined the effects of socio-economic factors on the use of cashless policy (e-payment)  among plantain farmers and challenges associated with the use of cashless policy. Primary data were collected using a wellstructured  questionnaire. A two-stage sampling procedure was used in the selection of 90 farmers used for the study. The findings showed that  majority of respondents were male, aged between 21-40, and had attained formal education. Most farmers had farming experience exceeding 12 years, with an average farm size of 3.6 hectares. Majority of the respondent were aware of the e-payment platforms. Mobile  money transfer was the most used non-cash transaction instrument (56.8%), followed by POS terminals (22.4%). The study  further identified perceived benefits of e-payment among plantain farmers to include easy and convenient payment options,  transparency in transactions, and access to loans and funds. Employing the logistic regression model, results showed that sex,  educational level, household size, farming experience, and revenue significantly influenced the use of epayments among plantain  farmers. The main challenges reported were low digital skills, additional costs, and lack of infrastructure. Consequently, this  recommendation was put forward: The government, banks and mobile money providers should provide social infrastructural  development, including schools, internet access as well as financial institutions and banking services should be prioritized in rural areas  to facilitate the use of e-payments among plantain farmers.