Abstract:
ABSTRACT
Small and medium-sized businesses (SMEs) in Ghana are adopting e-banking due
to its ability to significantly reduce information search and transaction expenses,
making business operations more efficient with payment, credit processing, and
other tasks taking less time. Dwelling on the technology acceptance model, and the
institutional theory, this study adopted the quantitative research approach and the
explanatory research design to assess the adoption of electronic banking and its
effects among small and medium-sized enterprises within the Accra Metropolis that
transact banking businesses with GCB Bank limited. The study sought to examine
the adoption of e-banking among SMEs concerning the awareness level of SMEs
on e-banking, SMEs' level of knowledge and usage of e-banking, benefits derived
from e-banking adoption, and the challenges firms encounter when adopting e banking. The study used a quantitative method and questionnaires as a means of
data collection. The result of the study indicated that SMEs of the selected branches
of GCB are generally aware of the various e-banking platforms available at their
respective branches. The study revealed that an average of 65.9% of SMEs stated
that difficulty in assessing e-banking services informs their decision to use e banking products in their businesses. Finally, ignorance of SMEs regarding the
security of e-banking services was identified as one of the main challenges affecting
the smooth adoption of e-banking services among SMEs. The study recommended
that SMEs should consider their weakness before adopting e-banking
