The Effect Of Electronic Payment System On Customer Satisfaction In Nigeria Banking System

The Effect Of Electronic Payment System On Customer Satisfaction In Nigeria Banking System

Chapter One

Preface

. Background of the Study

moment’s business terrain is extremely dynamic in nature. It has endured rapid-fire changes as a result of technological advancements, increased mindfulness and demands for banks services. The Banking assiduity of the 21st century operates in a complex and competitive terrain characterized by these changing conditions and largely changeable profitable climate, therefore, information and communication technology( ICT) is at the centre of this global change. Amedu( 2005) asserts that banks over the time have been using electronic and telecommunication networks for delivering a wide range of value added products and services. thus, information systems couldn’t be ignored because they play a critical part in current Banking system in Nigeria.

Electronic banking is known ase-banking, virtual banking or an online Banking, it’s a service that allows guests to pierce their bank information, conduct fiscal deals, make deposits, recessions and pay bills through the internet without having physical visit to their banks. It provides the convenience of penetrating banking installations from the comfort of their home services.( Awamleh & Fernandez, 2005).

The conception of electronic banking system began when the first Automated Teller Machine were initiated in the 1970s. An ATM machines allowed deposits to be made from the remote locales– a convenience for guests who else would have had to withdraw cash tête-à-tête from their bank. The advantages offered by ATM Machines snappily resolve over to encompass other areas of bank services, computerizing homemade system for lesser effectiveness and time savings. The conception behind ATM machines gave rise to smart cards, intranets and internet banking, electronic finances transfer{ EFT}, NIBSS( Nigerian interbank agreements system), POS{ Point of Deals Service}, Access mobile, and other electronic bias( Ahasanul, 2010).

The growth in the operation and acceptance of internet- driven technologies means that delivering an enhanced service is more attainable than ever ahead, still it’s also more complex and fraught with implicit costs and threat. The internet introduces guests to a new perception of business time as always available and demanding an critical and rapid-fire response. The serves as a challenge for directors who must to attune their business and their own particular comprehensions of time with the perceived reality of internet time, as the internet has decisively shifted the balance of power to the client.

Presently, banks in Nigeria are adding value to their services for client’s satisfaction. The guests have further choices in choosing their banks because the new age IT( Information Technology) is bringing about sweeping changes in the banking assiduity, forcing them to reengineer numerous of their introductory processes and systems. Many of the technology- driven electronic banking services being offered areviz. Automated teller machines ATM, Electronic Clearing Service( ECS), electronic finances transfer( EFT), tele- banking, internet banking etc. New technological capabilities are now being effectively used to produce value and to more manage client relationship in Nigeria banking system.( Raji, 2010).

Statement of the problem

In Nigeria, guests of banks seek for safety of their finances and increased returns on their investment. guests demand effective, fast and accessible services. numerous guests moment want banks that offer them services that will meet their particular requirements and support their business pretensions. For case, a business man wants to travel without carrying cash for security reasons. The central bank of Nigeria has emphasized the need for banks to give more effective services to their intending and capabilities guests. thus, the preface of electronic banking system in the Nigerian fiscal assiduity is anticipated to play an important part in the delivery of effective and effective services. Unfortunately, utmost Nigerian banks are still lagging before in espousing and equipping themselves with the current and sophisticated electronic bias as a results of non vacuity of fiscal, operation and mortal coffers, which would have given them more competitive advantages and attract further guests to themselves. One is thus inclined to wonder what could be responsible for the non relinquishment of the present banking widgets. Is it that the present workers of the banks can not make use of these advance widgets? Or are the widgets too expensive to be acquired by the banks? These are the questions which this design intends to seek applicable result.

Objects Of The Study

The main ideal of this exploration is to estimate the effect of electronic payment system on client satisfaction in Nigeria banking system. Specifically, the study will examine the following objects-

To estimate the goods of electronic payment system on banks guests.

To assess the impact of electronic payment system on the bank’s service delivery.

iii. To examine the effect of electronic payments on competitive advantage of the bank.

iv. To ascertain the effect of electronic payment system on increase in request size of the banks.

Exploration Questions

The following exploration questions were developed in order to guide the study

Does the electronic payment system enhance service delivery in the banking system?

Does the electronic payment system increase the request size of the banks?

Does the electronic payment system enhance the competitive advantage of the bank’s?

Does the electronic payment system enhance client satisfaction of the banks?

exploration suppositions

The following suppositions were formulated

H01 There’s no relationship between electronic payment system and banks service delivery in Nigeria banking sector

H02 There’s no relationship between electronic payments system and client satisfaction in Nigeria banking sector.

Significance Of The Study

This study will be of immense benefit to the intending and present guests of the banks as it’ll open their eyes to the great advantages of the operation of electronic banking and also to the bank, as the preface and selling of this product will bring about increase in the bank guests base, increase in deposit and as tools for favorable competitions in the assiduity. The exploration is inversely significant because it would give answers to factors militating against the perpetration of electronic banking in the fiscal assiduity as a whole and also precious tool for scholars, preceptor, institutions and individualities that wants to know further about electronic banking system.

Hypotheticals Of The Study

The hypotheticals that will guide the procedure for the study include;

Electronic banking was assumed to be important means of enhancing client satisfaction

ii. That the rudiments that will make up the case study commercial with the experimenter by filling and returning the questionnaires that will be administered.

iii. That the repliers that will be named for the study have acceptable knowledge and information about force planning process.

iv. That the information that will be supplied by the repliers will be assumed to remain constant through the period of the study.

Compass And Limitations Of The Study

In terms of content, this study will concentrate on the effect of electronic payment system on client satisfaction in Access bank Plc. This means that issues relating to electronic banking will be explained. In view of the oddities involved, it would be unrealistic to assume that all necessary data have been gathered in the process of the study. Information is limited to those accesses and made available by the repliers and also have gathered from end druggies. More so, since fiscal diligence have numerous forms, the study will only be limited to access bank plc of Nigeria. Some of the constraints are-

Time constraints

The experimenter finds it delicate to go round all the bank branches due to limited time vacuity, as a result of this, the data were only collected from many banks aimlessly.

shy data

Electronic banking is a recent advanced system in which not all banks have embraced, those that have embraced it were suitable to give their information to the experimenter and those that haven’t completely embraced it were unfit to give accurate data to experimenter.

Lack of finances

Due to the nature of this work, experimenter find it delicate to raise the finances demanded to carry out the exploration meetly, as a result of this, many banks branches were named grounded on the available finance to enable experimenter get the demanded information.