Framework For Adoption Of E-Payment Systems For Small And Medium-Sized Enterprises In Kenya

New monetary requirements have been generated by the growth and emergence of e-commerce, which cannot be adequately met in numerous cases by traditional payment systems. E-payment systems have reformed the business process by weakening paperwork, exchanging expenses and labor costs, and increasing security to both buyers and sellers. Despite these benefits, many Small and Medium Enterprises (SMEs) are yet to incorporate e-payment systems into their businesses in Kenya. Virtually the parties that have made an effort towards the adoption of e-payment systems are investigating different sorts of electronic systems for payment. Therefore, the purpose of this paper is to develop a framework for the adoption of e-payment systems in Kenya for SMEs. The study adopted a survey research design. A purposive sampling technique was used to select a sample of 204 SMEs that represented the entire SMEs population in Kenya. The methods for data collection were content analysis, questionnaires, and interviews. Both descriptive and inferential statistics involving numerical data were used to interpret the collected data. The findings of the study reveal that ease of access and usefulness to e-payment systems were found to influence the choice of e-payment system use. Security issues came out as one of the major challenges in the e-payment adoption process and, finally, various e-payment systems. The other major problem witnessed included the absence of protection legally, the absence of e-payment capacity in collaborative organizations, and the absence of a requirement for e-payment. This can only be effective after the Technologies have been well-integrated and with minimal charges. The study analyzed all these aspects and developed a framework that provides guidelines for e-payment systems adoption in SMEs, guides e-payment systems developers to make informed decisions in the requirement elicitation stage that results in e-payment systems that suit SMEs in Kenya, and provides a benchmark for e-payment systems that are acceptable to SMEs in Kenya.