Socio-Demographic Factors and Automated Teller Machine Usage in Lagos State, Nigeria
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Date
2018
Authors
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Publisher
UNILAG JOURNAL OF BUSINESS
Abstract
Automated Teller Machines (ATMs) are designed to make some banking transactions
more convenient and efficient for customers. However, it has been observed that banks
still have several customers using branch banking for transactions that could be carried
out with ATM. The study investigates this problem from the perspective of sociodemographic factors by examining the influence of gender, age, level of education,
income and nature of occupation on ATM usage in Lagos State, Nigeria. Five hypotheses
were formulated and tested. The study adopted quantitative approach and cross-sectional
research design. Three hundred (300) ATM users were selected for the study using Multistage sampling technique. Data were collected with the aid of questionnaire. The data
were analysed descriptively using frequency, percentage, mean and standard deviation
while General Linear Model (GLM) was used for inferential statistics. The results from
the analyses revealed that age and education influence ATM usage while gender, income
and occupation do not influence ATM usage. It was also found that ATM is mostly used for
cash withdrawals even though it can be used for other transactions. Therefore, the study
recommends that socio-demographic factors especially age and level of education should
not be overlooked when designing ATM marketing strategies.
Description
Keywords
Atms, Technology-based services, Customer, Usage, Demography