Efficient payment systems are crucial for developed and less developing countries economic development and are regarded as the backbone to a highly competitive country. Innovations in the payment industry have also lead to greater access to formal financial system. This study examined the relationship between electronic payment product and quoted deposit money banks performance in Nigeria. data on different sub-variables of electronic payment product and return on equity from 2007-2018 were collected from Central Bank of Nigeria statistical bulletin, annual Central Bank of Nigeria reports, federal Inland Revenue Service, annual reports and e-business unit report of deposit money banks. Ordinary Least Square of multivariate regression based on Auto-regressive distributed Lag, unit root test, panel co-integration, granger causality and panel dynamic error correction model was used in analyzing the data. The empirical results indicate that electronic payment product significantly relate to return on equity. We conclude that electronic payment product has the potency to make positive and significant contribution to performance and recommends that Automated Teller Machine (ATM) should be put in different locations for easily accessible by customers, so that quick service and convenience is maintained hence improving bank operations to the same time constant service should be ensured in order to provide reliability of the services. Deposit money banks and other specialized organizations should conduct awareness programs for client son the importance and ease of using electronic payment products in financial transactions in local and international markets. Banks should pay attention to issuing new and modern electronic payment methods to attract new customers and fellow developments in global markets.