{"title":"ECONOMIC IMPACTS OF CASH PAYMENTS - AN ANALYSIS OF KENYA’S ECONOMY AND PAYMENT INDUSTRY","authors":"Sylvia Akinyi Amayo","doi":"10.61426/sjbcm.v7i2.1612","DOIUrl":null,"url":null,"abstract":"The general objective of this research was to identify the effects of cash payments to the Kenyan economy and how to best address it. It closely examined the existing state of cash payments and its upshots not only to the merchant/recipient but also the payer and the banks, with an aim of determining how instant bank payments could plug in to save the situation. Cash is widely used not only in Kenya but also other economies both regionally and globally. Any of its negative effects such as costliness and inefficiency, among others discussed herein, can be considered widespread and in dire need of mitigations for the sake of developing stronger economies. The specific objectives of the study were to: Investigate the cost of cash payments to the consumer, establish how cash payments affect merchants, investigate the impacts of cash payments to the banking industry and to establish the role of instant bank transfers in a cash-intensive economy. The study employed desktop study method to collect and analyze data on the effect of cash payments on the Kenyan economy. Finally, conclusion was made and recommendations proposed to address the gap identified in the study. Key Words: Cash Payments, Banking Industry, Merchants, Bank Transfers ITATION: Amayo, S. A. (2020). Economic impacts of cash payments - An analysis of Kenya’s economy and payment industry. The Strategic Journal of Business & Change Management , 7(2), 102 – 111.","PeriodicalId":507470,"journal":{"name":"Strategic Journal of Business & Change Management","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2020-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Strategic Journal of Business & Change Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.61426/sjbcm.v7i2.1612","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
The general objective of this research was to identify the effects of cash payments to the Kenyan economy and how to best address it. It closely examined the existing state of cash payments and its upshots not only to the merchant/recipient but also the payer and the banks, with an aim of determining how instant bank payments could plug in to save the situation. Cash is widely used not only in Kenya but also other economies both regionally and globally. Any of its negative effects such as costliness and inefficiency, among others discussed herein, can be considered widespread and in dire need of mitigations for the sake of developing stronger economies. The specific objectives of the study were to: Investigate the cost of cash payments to the consumer, establish how cash payments affect merchants, investigate the impacts of cash payments to the banking industry and to establish the role of instant bank transfers in a cash-intensive economy. The study employed desktop study method to collect and analyze data on the effect of cash payments on the Kenyan economy. Finally, conclusion was made and recommendations proposed to address the gap identified in the study. Key Words: Cash Payments, Banking Industry, Merchants, Bank Transfers ITATION: Amayo, S. A. (2020). Economic impacts of cash payments - An analysis of Kenya’s economy and payment industry. The Strategic Journal of Business & Change Management , 7(2), 102 – 111.
这项研究的总体目标是确定现金支付对肯尼亚经济的影响,以及如何以最佳方式解决这一问题。它仔细研究了现金支付的现状及其对商家/收款人、付款人和银行的影响,目的是确定银行即时支付如何才能挽救这一局面。现金不仅在肯尼亚被广泛使用,在地区和全球其他经济体也是如此。本文讨论的任何负面影响,如成本高、效率低等,都可以被认为是普遍存在的,为了发展更强大的经济,亟需加以缓解。本研究的具体目标是调查现金支付给消费者带来的成本,确定现金支付如何影响商家,调查现金支付对银行业的影响,并确定银行即时转账在现金密集型经济中的作用。研究采用桌面研究法收集和分析有关现金支付对肯尼亚经济影响的数据。最后得出结论并提出建议,以弥补研究中发现的不足。关键字现金支付、银行业、商户、银行转账 信息来源:Amayo, S. A. (2020).现金支付的经济影响--肯尼亚经济和支付行业分析》。 The Strategic Journal of Business & Change Management , 7(2), 102 - 111.