Satisfaction as a Determinant of Customers' Patronage of Commercial 'POS' Operators in Awka, Anambra State, Nigeria

Background: Positive customer experience yields positive attitude and word of mouth, while negative experience breeds negative attitude that culminates into customer loss. Retail traders such as Point of Sale (POS) operators render services that used to be an exclusive responsibility of commercial banks. This role of withdrawal and deposit of cash arose due to the exponential increase in bank customers and implementation of cashless policy in Nigeria. Objective: This research set out to know Awka residents’ perception of this new “banking method”. Method: This study was anchored on technological determinism theory and perception theory. Also, descriptive survey research design was adopted, using online questionnaire for data collection. A sample size of 399 was obtained from a population of 430,200 residents of Awka metropolis. Data were obtained and analysed on a frequency table of 4 points Likert scale, using mean deviation and percentages. Result: The study found that Awka residents derive satisfaction from the services rendered to them by commercial POS operators. Also, it was found that the satisfaction derived by Awka residents influences their high patronage of commercial POS operators. Conclusion: The study concluded that the level of the respondents’ patronage of commercial POS operators in Awka metropolis is very high. This was necessitated by the high level of Awka residents’ satisfaction with the services rendered to them by commercial POS operators. It is this perceived satisfaction derived by Awka residents that influences their high patronage of commercial POS operators. Unique Contribution: The study highlighted the fact that POS operation filled a huge economic hole created by the exponential increase in Bank customers and the recent implementation of the central bank of Nigeria’s (CBN) cashless policy. From the positive result earned by this initiative, CBN, other government agencies and the private sector will be encouraged to create similar alternatives in other facets of our socio-economic life. Key Recommendation: It was then recommended that the high level of Awka residents’ satisfaction with the services of commercial POS operators should be sustained by the operators through continued rendering of satisfactory services to their customers, as the patronage they enjoy is derived from the satisfaction derived from their services.