THE ROLE OF CASHLESS ECONOMY IN THE DEVELOPMENT OF BUSINESS ORGANIZATION (A CASE STUDY OF SELECTED SMES IN AUCHI)

ABSTRACT This study examined the role of cashless economy in the development of business organization using selected SMEs as a case study. The objective of this study was to examine the influence of internet banking on the performance of small and medium scale enterprises in Auchi, determine the effect of automated teller machines on the performance of small and medium scale enterprises in Auchi, evaluate the influence of point of sales on the performance of small and medium scale enterprises in Auchi. To achieve the objective of this research, the study adopted the survey research design where respondents were selected through the use of simple random sampling techniques. Data gathered from the research was analysed with the use of simple percentages and tables, while the stated hypothesis was tested using chi square statistical techniques. Findings from the research shows that internet banking services has a positive significant effect on the performance of small and medium scale enterprises in Auchi metropolis. The use of internet banking among businesses in Auchi metropolis has overtime improved and increased the profitability of the businesses. It was however recommended that business organizations need to provide more enlightenment and advertisement on e use of Point of sales terminal so that the Nigerian population will appreciate and use electronic services available.