THE IMPACT OF ELECTRONIC PAYMENTS SYSTEM ON NIGERIA NATIONAL DEVELOPMENT
CHAPTER ONE
Introduction
1.1 Background Of Study
Payment systems have passed through a lot of ages. Prior to the 700bc, shells often were used in trade and barter and also cowries were introduced in Asia Minor. In Nigeria and other African countries, differently objects were used for payments. The objects were in form of cowries, coral beads, ivory, ornaments and bangles; and were used for payments. The early European traders mostly the Portuguese and Spaniards conveniently bought goods with cowries and manila. With the introduction of metal coins and notes in Greece and India between the tenth and sixth centuries Bc and thereafter dominated trade for 2000years, the era of cash as payment system emerged. In Nigeria, the central bank of Nigeria introduced the bank notes and coins in the year 1973. This was later followed by the use of cheque as written instructions to transfer precious metal coins from one holder to another .other written instructions such as credit transfer, standing orders, postal orders, bill of exchange, and travellers’ cheque have also been used. The next great age of payment system that followed paper instructions is electronic payments. Some payments are now being automated and absolute volumes of cash transaction have declined under the impact of electronic transaction brought about by the adoption of ICT to the payment system, especially in the developed countries.
The introduction of technology based payments has done a lot to increase the convenience of banks customers, staffs as well as the society at large (Kelvin, 2012). The Nigerian payments systems evolved from manually processed cash transaction’s to online and real time electronic payment system. This evolution is in response to growing commercial activities and the penetration and utilization of the cyber space and technology for commercial activities. Today paying and receiving money between buyers and sellers are not necessarily done through raw cash. Such payments can be made using e-payments channels such as automated teller machine (ATM), internet, and point of sales terminals (POS), mobile money solutions and so on and so forth.
Although, the use of these payment mechanisms are not totally free from problems often, customers experience delay in having timely access to the services provided through electronic channels (Olakah, 2012). One principal challenge in the use of electronic payments channels (EPC). Power problem is a monster threatening every business in Nigeria. A common ache in the use of e-payment device known as automated teller machine (ATM) is trapping cards for days by terminals thus preventing customers from making transactions until he or she is able to retrieve his/her card from the machine. Occasionally, the automated teller machine (ATM) may debit a customer’s account without dispensing cash to him/her, such case has to be reported or the customers accepts liability. Generally, in every electronic card based payment mechanisms, ” server down” is a usual slang, meaning that there is a network failure. When this occurs, the machine is temporarily unable to function properly or obey instruction given by the customers at the payments terminals.
The development of different electronic payment systems has helped to enhance the payment of cash in banks up to a limit of N500, 000 (Five Hundred Thousand Naira only) daily by individual customers and N 3,000,000 (Three Million Naira only) for corporate customers without attracting charges except withdrawal is above the limit stated. The payment has also promoted efficiency in the clearing of financial instruments between the banks and Central Bank of Nigeria (2010). Despite the challenges attributed to the use of electronic payments devices, the devices have indeed provide relieve and convenience to the banking public, thereby promoting trade and commerce and helping to grow the sectors of the economy.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Electronic Payments System on Nigeria National Development" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Electronic Payments System on Nigeria National Development" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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