Investigating the Customers’ Perception towards the Usage of Plastic Money in Zimbabwe:

Author: Nleya, Happiness

The study investigates the customer’s perception towards the use of plastic money in Zimbabwe. The researcher’s objectives were to comprehend the impacting factors behind the usage of plastic money, its advantages, and problems and to prescribe conceivable answers for the challenges being faced by the use of plastic money in Zimbabwe. An Exploratory cum Descriptive research design was used for this study. A qualitative survey of 150 consumers was embraced and administered through a semi structured questionnaire in the city of Bulawayo. Binary logistic regression was applied to reveal the impact of the factors on the usage of plastic money. The findings of the study revealed that the durability of a product does not influence one’s decision to use plastic money. Respondents aged 40 years and above consider technical complications as an important factor that influences plastic money. The group of respondents that finds time important are those that are employed, students and those that are retired. Moreover, individuals educated are the ones saying plastic money is efficient. Shortage of cash was mostly emphasized important factor that drives the use of plastic money, following cost of the product. The study likewise discovered that there is a positive relationship between monthly income and value one would consider swiping and not using cash. The benefits of using plastic money are highlighted by the study were that, one does not have to withdraw cash from the bank, it facilitates transactions, easy to carry and is a solution to a cash crisis. The challenges of using plastic money underlined by the study were that, plastic money is associated with high transactions costs, network connection problems and leads to overspending. The research concluded that, elder people have a negative perception towards usage of plastic money due to technical complications. Employed individuals have a negative perception towards plastic money due to longer time taken to pay for a product. Frequency of plastic money is negatively affected by people’s welfare and positively affected by Security, product as a necessity, cost of the product and mostly shortage of cash. Cashback doesn’t affect the frequency of plastic money. A T-test was conducted on plastic money rating by individuals, the research rejected the null hypothesis and concluded that customers have a negative perception towards the usage of plastic money due to the above mentioned challenges they face.