The Impact of Power Outages and Technical Challenges on the Efficiency of Electronic Payments and Their Repercussions on Financial Transactions An Applied Study on the University of Tripoli Branch of Jumhouria Bank
DOI:
https://doi.org/10.65405/wa7vcb46Keywords:
Financial Transactions, Electronic Payments, Power Outages, Technical Challenges, Jumhouria Bank - University of Tripoli BranchAbstract
This study aimed to investigate the impact of power outages and technical challenges on the efficiency of electronic payments, and its reflection on the efficiency of financial transactions at Jumhouria Bank – University of Tripoli Branch. The study adopted a descriptive-analytical approach, and data was collected using a questionnaire distributed to a sample of 200 respondents. This sample included bank employees and clients, specifically faculty members at the University of Tripoli and customers using the electronic payment services at the bank under study. The data was analyzed using the Statistical Package for the Social Sciences (SPSS) software.
The results revealed a statistically significant impact of power outages and technical challenges on the efficiency of electronic payments. Power outages lead to the disruption of financial services, reduce the speed of service delivery, and increase resulting losses. Technical challenges were found to be among the most influential factors affecting electronic payment efficiency due to point-of-sale (POS) and automated teller machine (ATM) breakdowns, increased operational costs, and the negative effect on financial service continuity. Furthermore, the findings proved that improving electronic payment efficiency enhances financial transaction efficiency by accelerating transaction execution, reducing costs, boosting customer satisfaction, and minimizing reliance on cash.
The study recommended stabilizing the electricity supply, providing alternative power sources, upgrading the technical infrastructure, conducting periodic maintenance for systems and devices, enhancing information security, training staff, and developing effective business continuity plans to boost electronic payment efficiency and improve overall financial transaction performance.
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References
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