Effect of Cashless Payments on Performance of Manufacturing Companies in Rwanda. A Case of Muhanga Food Processing Industries Limited (2021-2024)
Habiyakare Jean Claude & Rubunda Emmaboles
University of Kigali, Rwanda
https://orcid.org/0009-0006-9701-0986
Email: habicaude@yahoo.fr
Abstract: The general objective of this research was to assess the effect of cashless payments on performance of manufacturing companies This study had the following specific objectives: assess the effect of internet banking payment on performance of Muhanga Food Processing Industries Limited, Rwanda, examine the effect of mobile banking payment on performance of Muhanga Food Processing Industries Limited, Rwanda, and analyze the effect of point-of-sale payment on performance of Muhanga Food Processing Industries Limited, Rwanda. This study used theories like Technology Acceptance Model, Diffusion of Innovations Theory and Resource-Based View. The study details the coefficients for each predictor. The unstandardized coefficient for internet banking payment is 0.374, with a standardized coefficient (Beta) of 0.339, and a p value of 0.000. Mobile banking payment has an unstandardized coefficient of 0.169, and a p value of 0.000. Point-of-sale payment shows an unstandardized coefficient of 0.455, and a p value of 0.000. All p values are less than 0.05, indicating that each predictor significantly affects performance. The study confirms that the adoption and implementation of cashless payment methods including internet banking, mobile banking, and point-of-sale systems significantly enhance the operational, financial, and competitive performance of Muhanga Food Processing Industries Limited, Rwanda. The company management should consider expanding point-of-sale terminals across various sales points to further enhance transaction efficiency, customer satisfaction, and inventory management accuracy.
