IMPACT OF POS BANKING ON CHURCHES ( A CASE STUDY OF HOUSE ON THE ROCK CHURCH, UYO)

IMPACT OF POS BANKING ON CHURCHES ( A CASE STUDY OF HOUSE ON THE ROCK CHURCH, UYO)

CHAPTER ONE

INTRODUCTION

• BACKGROUND TO THE STUDY

The church and the modern technologies seem to be ever more connected as we move further into the twenty-first century” (Hoover 2006). This assertion clearly defines the link between religious belief and the new information and communication technologies which are the most defining media instruments of the twenty-first century. ICT driven technologies can be applied in virtually all areas of the church activities including the payment system (Ovia, 2005). However, different types of payment are done by members in the church. Examples of common payments done during church service includes tithe, general offering, special offering, thanksgiving, harvest, covenant offering, offering for the less privileged/needy, building construction donations etc.

The role and importance of efficient payment systems has been closely monitored and promoted by monetary authorities in all countries. However, the Nigerian payment system that is cash-driven cannot and has not guaranteed the much needed efficient and effective transactions required for a sustainable economic development. Among the problems often associated with cash transactions are armed robberies, use of counterfeit bank notes, frauds, inconveniences of carrying large quantities of currency notes, long period of waiting in bank halls, frequent trips to banks, frequent printing of bank notes (Nnanna and Ajayi, 2005). However, churches in Nigeria are beginning to key in into this cashless system of payment byincorporating modern and cashless method of payment especially the use of PoS.

Point-of-sale (PoS) systems have always been around in many forms for a number of years now. Many businesses use these systems not only to accept payment, but to provide other operational information such as accounting, sales tracking, and inventory management. Thus far, this system has gone a long way in improving customer’s experience through customer loyalty programs and suggestions in businesses (Ojo, 2004).

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IMPACT OF POS BANKING ON CHURCHES ( A CASE STUDY OF HOUSE ON THE ROCK CHURCH, UYO)