Socio-Demographic Factors and Automated Teller Machine Usage in Lagos State, Nigeria

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Ighomereho, O. Salome
Dixon-Ogbechi, N. Bolajoko
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Department of Business Administration, University of Lagos
Automated Teller Machines (ATMs) are designed to make some banking transactions more convenient and efficient for customers. However, it has been observed that banks still have several customers using branch banking for transactions that could be carried out with ATM. The study investigates this problem from the perspective of socio-demographic factors by examining the influence of gender, age, level of education, income and nature of occupation on ATM usage in Lagos State, Nigeria. Five hypotheses were formulated and tested. The study adopted quantitative approach and cross-sectional research design. Three hundred (300) ATM users were selected for the study using Multi-stage sampling technique. Data were collected with the aid of questionnaire. The data were analysed descriptively using frequency, percentage, mean and standard deviation while General Linear Model (GLM) was used for inferential statistics. The results from the analyses revealed that age and education influence ATM usage while gender, income and occupation do not influence ATM usage. It was also found that ATM is mostly used for cash withdrawals even though it can be used for other transactions. Therefore, the study recommends that socio-demographic factors especially age and level of education should not be overlooked when designing ATM marketing strategies.
ATMs, technology-based services, customer, usage, demography