Theology Project Topics

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)

Impact of POS Banking on Churches (A Case Study of House on the Rock Church, Uyo)

Chapter One


The following are the objectives of this study:

  1. To examine the impact of POS on churches.
  2. To examine the existing payment method/system in churches.
  3. To examine the limitations of POS on church payment system




The importance of managing the economy of Nigeria smoothly and efficiently cannot be over emphasized. The banking system stands as the kernel of the operating system and as such remains the major channel for monetary control by the Central Bank of Nigeria (CBN) and the monetary authorities in general. Unfortunately, it is estimated that about 65% of the cash in circulation in the Nigerian economy isoutside of the banking system, thus severely limiting the impact of the CBN’s efforts at price and economic stabilization (CBN 2011). Consequently, the amount of money in the form of deposits available to banks for the creation of more money is reduced. The profitability of the banks, which to a large extent depends on the amount of money at theirdisposal for lending, is therefore affected by the large size of this informal sector. Apart from the above mentioned, the breakthrough in InformationCommunication Technology (ICT) has revolutionizedhuman society in terms of communication, efficiency in processes, general exchange of information, and in the exchangeof goods and services. Within seconds, businesses are carried out online across different geographical location making it impossible for physical cash to be used as a medium of such exchanges. Indeed, the world has become a global village and the economic competiveness depends largely on the effectiveness of economic agents to adopt technologies for their activities and service delivery. Particularly, the banking institutions as major players in the process of financial intermediation, and important economic agents in the payment system, must be strongly equipped with the relevant information technology that would encourage trade, commerce and industry while promoting globalization by easing global access to fund without any barrier. Peoplecustomers in recent time demand more than the traditional role of safe-keeping their money. They require their banks to meet financial obligations for E-transaction almost on real time basis. But in reality, not all Nigerians have access to E-banking services. According to (Microfinance Information Exchange, 2012) in (Thisday, 2013), Nigeria and the Democratic Republic of Congo have the largest gaps between populations living in poverty and those with access to financial services–80 million in Nigeria and 48 million in the Congo. The Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee, introduced the cashless policy designed to provide mobile payment servicesthat aim to breakdown traditional barriers hindering the financial inclusion of millions of Nigerians, secure and make convenient financial services to urban, semi-urban and rural areas across the country. However, implementing the cashless policy requires that the banks make huge investments on ICT and other technologies that would enhance the proper implementation of the cashless system.

For banks that barely survived recapitalization, and several others forced into a merger and acquisition, this policy may affect their performances positively or negatively depending on the strength of the individual banks.





This chapter is concerned with the methodology used in achieving the objectives of the study. It covers research design, study area, population of the study, sample size, sampling techniques, instrument for data collection, sources of data collection, validity of research instrument, reliability of the instrument, administration of the instrument, method of data analysis and decision rule.

Research Design

This study employed the use of survey research design. The choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought to examine land reforms using The House on the Rock Church as a case study.

  The Study Area

This study was conducted in The House on the Rock Church. The choice of this study area was informed by its involvement in the subject matter in the state.

 Population of the Study

The population of this study consisted of thirty(30) staff of The House on the Rock Church.



This chapter is devoted to the presentation, analysis and interpretation of the data gathered in the course of this study. The data are based on the number of copies of the questionnaire completed and returned by the respondents. The data are presented in tables and the analysis is done using t-Test. The paired chi-sqaure test was used in the validation of the hypothesis.



The following are the objectives of this study:

  1. To examine the impact of POS on churches.
  2. To examine the existing payment method/system in churches.
  3. To examine the limitations of POS on church payment system


  1. The use of POS in churches promotes efficiency and accountability
  2. The use of POS helps promote uniformity in the mode of payment in churches in house on the rock church
  3. The use of POS and other modern technology helps promote church growth in Nigeria
  4. Efficient payment systems has been closely monitored and promoted by monetary authorities in all countries
  5. POS provides operational information such as accounting, sales tracking, and inventory management


From the responses gathered from the respondents and the final result of the data analysis the study therefore concluded that the use of POS in churches promotes efficiency and accountability


The study therefore recommendation that:

  1. Churches should ensure the availability of power and network to enhance the efficiency of the use of POS in churches
  2. There should be more than one POS so as to avoid stress and time wastage in churches
  3. The church should endeavor to teach his or her members on how to effectively use the POS so as to prevent damage of the system


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  • Carrow KA, Staten ME (1999).“Debit, Credit, Or Cash: Survey Evidence on Gasoline Purchases”. J.Econ. Bus. 51:409-421.
  • Central Bank of Nigeria (2004).“Trend of Currency in Circulation for the last 12 months”. asp.
  • Central Bank of Nigeria (CBN) Report, 2011.Kalakota R, WhinstonA(1997).“Frontiers ofElectronic Commerce New York: Addison Wesley Inc.
  • Humphrey, D. B., & A. N. Berger. (1990). Market Failure and Resource Use: Economic Incentives to Use Different Payment Instruments‖., New York, Monograph Series in Finance and Economics.
  • Humphrey, D. B., Kim, M., & Vale, B. (2001). Realizing the gains from electronic payments: cost, pricing, and payment choice. Journal of Money, Credit, and Banking, 33, 2(216 -234).
  • King, M. (1999). Challenges for Monetary Policy: New and Old, Bank of England Quarterly Bulletin, November, (397 – 415).


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