Electronic Payment System and Customer Satisfaction in Nigerian Banking System

Chukwu, Kenechukwu Origin; Chimarume Blessing Ubah & Ezeaku Chisom Njideka
Department of Banking and Finance,Nnamdi Azikiwe University, Awka Anambra State Nigeria 5025 Awka, Nigeria

DOI – http://doi.org/10.37502/IJSMR.2021.4502

Abstract

The study evaluates the level of customers’ satisfaction in e-payment systems in Nigeria. The study will be conducted among bank customers in Awka city. The selected electronic payment systems were made to encompass Automated Teller Machines (ATMs) and Point of Sale (POS). The study made use of the survey research design. The sample of the study focuses on 70 bank customers of banks in Nnamdi Azikiwe Unversity, Awka, Anambra state. The instrument for data collection was the questionnaire developed by the researcher. The data gathered were analyzed using the descriptive methods and the paired sample t-test method. The computations were done using the Statistical Package for Social Sciences (SPSS) version 22. The findings showed that customer’s actual experience fell significantly short of expectation in all the e-payment systems, indicating that bank customers were not satisfied with any of the e-payment systems used in Awka. Based on the findings of the study, the researcher recommended among other things that; the monetary authorities should liaise with commercial banks and other stakeholders to strategically install ATM machines in strategic areas to ensure increased accessibility; and that banks should also continue to search for ways to improve the performance of the e-payment services by constantly seeking feedback from customers. There should be a downward review of the charges associated with the use of point of sales terminals so as to encourage increased use and ease the pressures associated with the accessibility of ATMs.

Keywords: E-payment, Automated Teller Machines, Point of Sale.

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Works Cited

Chukwu, Kenechukwu Origin; Chimarume Blessing Ubah & Ezeaku Chisom Njideka. (2021). Electronic Payment System and Customer Satisfaction in Nigerian Banking System. International Journal of Scientific and Management Research, 04(05), 30-48. doi:http://doi.org/10.37502/IJSMR.2021.4502

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