Cashless Transactions Socioeconomic Determinants and Its Effectiveness in Livestock Marketing Activities among Livestock Marketers in Katsina State, Nigeria

The study analyzed cashless transactions socio-economic determinants and its effectiveness in livestock marketing activities among livestock marketers in Katsina State, Nigeria. Multi-stage sampling procedure was deployed to select and interview 366 livestock marketers. Descriptive statistics, likert scale and binary logistic regression model were used to analyze data collected. Majority (76.5%) of the livestock marketers were found to be engaged in cashless transactions. The livestock marketing in the study area is predominantly by male (100%) and married (96.45%) marketers of which most of them have some level of formal education ranging from primary (40.71%), secondary (19.94%) and tertiary education (28.43%). They have an average age of 47 years with an average experience of 21 years of marketing activities. Majority (88.25%) of them were also found to have annual income of 100,000 – 1,080,000 naira. Results further show that cashless transactions were effective only in animal selling transactions (M=3.079) and animal purchase transaction activity (M=2.349), among various livestock marketing activities. The result findings also revealed level of education (p<0.01), income of the marketers (p<0.05), cooperative members (p<0.01), and mobile phone ownership (p<0.01) to be the statistical significant factors influencing decision of livestock marketers participation in cashless transaction in the study area. Inadequate cash in circulation (98.09%), poor acceptance of transfer by some marketers (96.99%) and uncertainty of transaction success (96.72%) were major challenges of engagement in cashless transactions in the study area. It can therefore be recommended that mitigating challenges and improving contributing factors will enhance cashless transaction effectiveness in Livestock marketing activities.