Financial Technologies and Efficiency of Small-Scale Enterprises in Ebonyi State, Nigeria

The study examined the impact of financial technologies on the efficiency of small-scale enterprises (SSEs) in Ebonyi State. The specific objectives were to examine the impact of bank transfers and mobile banking on cost minimization and speed transaction of small-scale enterprises in Ebonyi State. Survey research design was adopted, the population of the study was 384 respondents from small-scale enterprises in Ebonyi state. Data were analysed using regression analysis with the aid of the SPSS. Findings revealed that there is a high positive impact of bank transfer and mobile banking on cost minimization and speed transaction of small-scale enterprises in Ebonyi state. Therefore, the study recommended that small-scale enterprise owners should make greater use of bank transfer and mobile banking services for business transactions because they provide a relatively fast, convenient and traceable means of making and receiving payments.

FinTech; Bank Transfer; M-Banking; Small-Scale Enterprises; Efficiency.

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