Abstract
E-payment is an electronic transfer of cash via online transaction for business -to- consumer (B2C), business-to-business (B2B), person –to- person (P2P), and most recently administration -to- consumer (A2C) purposes. Nigeria payment system has been predominately cash – based. However the cost of cash to Nigeria financial system is high and increasing. It is in this respect that the Central Bank of Nigeria (CBN) introduced the cashless policy with the objective of promoting the use of e-payment channels instead of cash. E-payment system apart from convenience and safety also have a significant number benefits which include faster access to capital, reduced risk of cash-related crimes, access to credit, reduced cash handling costs, increased tax collections, reduced revenue leakage, greater financial inclusion, more service options, encouraged financial deepening and promotes savings, reduced risk in payments and settlements, increased economic development.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
