Promoting Cashless Economy: The Use of Online Electricity Payment Channels in the Ibadan Metropolis, Nigeria

The study was designed to investigate the level of usage of online electricity payment channels (OEPC), as well as the influential factors determining the use of the channels. The correlation type of survey research design was adopted. The population consisted of all electricity consumers in the Ibadan metropolis, Nigeria. Out of the 236 responses, about two-thirds (65.3%) were users of OEPC, while 34.7% were not. A significant relationship, strong and positive correlation was found between usefulness, ease of use, convenience ( r = 0.710, 0.704, 0.623, respectively) and use of OEPC. The relationship between security and computer self-efficacy and the use of OEPC is also positive and significant but the correlation coefficients are low ( r = 0.279, 0.252, respectively), indicating a weak relationship. All the variables jointly predicted the use of OEPC, while a 24.0% variation in use was influenced by the variables. The study concluded that the use of OEPC by consumers in the Ibadan metropolis was moderate and that the usefulness of OEPC, ease of use, convenience of using, security of the channels and the computer self-efficacy of the users influenced the use of the channels. The implication is that these factors could be leveraged to promote an increase in awareness, adoption and use of OEPC in Nigeria.