Volume 7, Issue 5, September 2019, Page: 146-152
An Empirical Evaluation of Different Electronic Payment Channels in Nigeria
Fidelis Onyemaechi Nedozi, Department of Business Administration, School of Higher Education, Institute of Continuing Education, Benin City, Nigeria
Chris Ikponmwen Omoregie, Department of Computer Science, College of Education, Ekiadolor, Benin City, Nigeria
Received: Aug. 30, 2019;       Accepted: Sep. 17, 2019;       Published: Sep. 29, 2019
DOI: 10.11648/j.jfa.20190705.13      View  416      Downloads  148
Payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. This study has tried to empirically evaluate the electronic-payment channels and their penetration level in Nigeria from 2012 to first quarter of 2019. The main research objective was to determine given the technology revolution the level of e-payment penetration in Nigeria. Concepts of e-payment, E-payment in Nigeria and the different E-payment platforms were reviewed. The data were obtained from the secondary sources like CBN, journals, and commercial banks quarterly bulletins. The study employed descriptive statistics to ascertain the level of penetration E-payment in Nigeria. The data were analyzed using percentages. From the study, it was found that ATM dominated the penetration of E-payment in terms of volume in Nigeria from 2011 to first quarter of 2019. In terms of value NEFT dominated in 2012 and 2013 while NIP dominated from 2014 to first quarter of 2019. It is recommended that more electronic channels should be open to deepen the electronic transactions in the economy to fast tract transaction as the world move into tech revolution. Also, the issue of fraud emanating from electronic transaction should be checked and reduce to give trust to consumers of such transactions.
Payment. Electronic, Cheque, Cash, Money
To cite this article
Fidelis Onyemaechi Nedozi, Chris Ikponmwen Omoregie, An Empirical Evaluation of Different Electronic Payment Channels in Nigeria, Journal of Finance and Accounting. Special Issue: Financial Inclusion , Accounting Perspectives and Development. Vol. 7, No. 5, 2019, pp. 146-152. doi: 10.11648/j.jfa.20190705.13
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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