Nigerian Journal of Management Technology and Development, Special Edition 1, Nov., 2015 Selected Papers from the 1st Conference on Management, Technology & Development (COMTED 2015) Publication of Faculty of Management Sciences, ATBU, Bauchi - 109 Abstract— Cash-based transactions are increasing in Nigeria, thus draining public funds in terms of cost of cash management. This is because there is resistance to change to Point of Sale terminal (POS) introduced by Central Bank of Nigeria. The Unified Theory of Acceptance and Use of Technology (UTAUT) was widely applied and extended to explain similar phenomenon. Studies that used UTAUT and investigated Behavioural Intention (BI) to use technology yielded conflicting findings. Therefore there is need to further understanding of the phenomena beyond what is known. This study aims to simultaneously examine the moderating effect of technology awareness on the relationship between UTAUT constructs and BI. Data were collected from 165 owners/managers of retail businesses in Nigeria, in a cross-sectional survey and were analysed using Partial Least Square - Structural Equation Modelling (PLS-SEM) technique in SmartPLS software. The result of hypotheses testing confirmed that Performance Expectancy, Social Influence, and Facilitating Conditions have significant positive relationship with BI to use POS, while Effort Expectancy does not. Similarly, TA moderated the relationship between EE, SI and BI, but does not moderate the relationship between PE, FC and BI. The extended model was able to explain 43 per cent of variance in BI. Empirical evidence from this study confirmed that awareness is an important factor that shapes managers‟ behaviour. Therefore the current study provided further explanation to the existing literature by extending UTAUT conceptually and empirically with Technology Awareness. . Keywords— Behavioral Intention, Business Process Change, Retail Business, Technology Awareness, UTAUT I. INTRODUCTION The world has in the past witnessed series of transitions from one payment mechanism to another. The transition from barter system to paper and coins as medium of payments for goods and services from seventeenth to nineteenth century is a typical example (Graeber, 2001; Humphrey, 1985; Humphrey & Hugh-Jones, 1992). Recently, a payment system which neither uses goods for goods as it barter, nor it uses paper and coins money to exchange goods and services surfaced. The system is known as e-payment system. There are several types of electronic payment gateways such as online payment, e-wallet, mobile payment, point of sale terminal, e-banking etc. (Appiah & Agyemang, 2006; Laudon & Traver, 2007). The diagram in figure 1illustrates a typical scenery of how electronic payment transaction is performed. Faruq M. Abubakar is an academic staff of the Department of Business Administration, Bauchi State University, Gadau, Nigeria. (Phone: +2348053484736; e-mail: faruqmabubakar@yahoo.co.uk) Hartini B. Ahmad is an Associate Professor and Director, Centre for University Industry Collaboration, Universiti Utara Malaysia. (e-mail: hartini@uum.edu.my) There has been considerable rate of growth of non-cash payments globally. Jean, Scott, and Patrick (2011) reported that the payment system recorded a 5% and 7.8% growth in 2009 and 2010 respectively. While the global volume of transaction in e-payment system stood at 22.5 billion transactions in 2010 and is expected to grow to 30.3 billion transactions in 2013, the most preferred non- cash payment gateway is credit and debit cards. Most of the economies recorded more than 40% cards market share, while Canada recorded as high as 68% cards market share. A. Cashless policy and the state of e-payment systems in Nigeria Nigerian economy is characterised by huge Empirical Investigation of Moderating Effect of Technology Awareness in UTAUT Faruq M. Abubakar, Hartini B. Ahmad Empirical Investigation of Moderating Effect of Technology Awareness in UTAUT Faruq M. Abubakar, Hartini B. Ahmad