Volume 9, Number 2/3

Application of Two-Stage MCDM Techniques in Evaluating the Performance of
Electronic Payment Systems in Ghana


Dennis Asante, Evans Opoku-Mensah and Peter Adjei Darko, University of Electronic Science and Technology of China, China


Electronic payment systems act as a catalyst in the economic development of many developing countries. However, their evaluation has become a daunting task over the years. This research employed a two-stage multi-criteria decision analysis (MCDA) to evaluate e-payment systems in Ghana. The AHP method was utilized to find the contribution scores of the various criteria for the performance of the e-payment systems. With the aid of the Probability Linguistic-TOPSIS (PL-TOPSIS) approach, we obtained the performance scores of the e-payment systems and ranked them. Among the six indicators employed in this study, we found cost-effectiveness to be the major indicator of an e-payment system performance. The performance ranking results indicated that credit/debit card has the highest performance score, followed by mobile money, ATM, online banking, and E-zwitch, respectively. We contribute to literature by providing intuitions on how AHP and PL-TOPSIS methods can be applied to evaluate the performance of e-payment systems.


Electronic payment systems, Analytic Hierarchy process, Probabilistic linguistic-TOPSIS, Multi-criteria decision making analysis