An Empirical Investigation of the Effect of Cashless Transactions on the Financial Performance of MSMEs at Carousel Shopping Mall, Lusaka Zambia

Purpose: The aim of this study was to investigate the effect of Cashless transactions on the Financial performance of MSMEs at Carousel Shopping Mall, Lusaka Zambia

Methodology: A descriptive cross-sectional research design was employed, Using Stratified sampling a sample of 138 MSMEs at Carousel Shopping Mall in Lusaka, Zambia were selected. Major statistical tools of analysis included summary statistics of percentages, Pearson correlation and multiple regression analysis. All tests were conducted at 0.05 level of significance.

Findings: The findings underscore the importance of mobile money and internet banking services in enhancing the financial performance of MSMEs in a cashless economy. The study provides valuable insights for policymakers, business owners, and researchers on the benefits and challenges of adopting cashless payment systems