E-PAYMENT SYSTEM (EPS) AND EFFICIENCY OF BANKS IN NIGERIA

Abstract

This study examines the effect of e-payment system (EPS) on the efficiency of banks in Nigeria. Specific objectives are to determine the implication of mobile payment, Automated Teller Machine (ATM) and POS on the efficiency of Nigerian banks, by collating data Central Bank of Nigeria (CBN), from the year 2012 to 2016. A linear regression analysis was used via SPSS to carry out the analysis, at a significance level of 0.05. The result of the analysis obtained a P-Value significance of 0.333 which connotes that there is no discernible effect of EPS on the efficiency of banking in Nigeria. The study recommended that Banks and other financial institutions should intensity efforts in mounting other e-payment channels to promote trade and commerce in Nigeria and the CBN should embark on intensive campaign for complete adoption of e- payments products especially at the grassroots. Keywords: Electronic, Payment, System, Mobile and Efficiency.