Impact of Electronic Payment System in the Nigerian Financial Institution (A Case Study of First Bank Nigeria Plc)

TABLE OF CONTENTS

Title Page

Certification……………………………………………………..ii

Dedication……………………………………………………….iii

Acknowledgement………………………………………………iv

Proposal……………………………………………………………v

Table of Contents……………………………………………….vii

CHAPTER ONE

1.0      Introduction…………………………………………………1

1.1    Background of Study………………………………………1

1.2    Objectives of the Study……………………………………2

1.3    Importance of the Study………………………………… 2

1.4    Definition of Terms…………………………………………4

CHAPTER TWO

2.0      Introduction………………………………………………….9

2.1    The View on Electronic Banking…………………………11

2.2    Electronic Banking and the Common Banking          Products………………………………………………….. ….16

2.2.1 Telephone and Pc Banking Products………………….17

2.2.2 The Card System………………………………………….18

2.2.3 The Automated Teller Machine (ATM)………………..20

2.2.4 Cheque………………………………………………………21

2.3    The Entry of Nigeria Banks into Electronic Payment Banking System……………………………………………21

2.4    Operational and Financial Institution………………..24

CHAPTER THREE

3.0    Research Methodology……………………………………27

3.1      Methods of Collecting Data………………………………27

3.1.1Primary Method of Collecting Data…………………….27

3.1.2Primary Method of Collecting Data (Section B)……...27

3.2    Secondary Method of Collecting Data………………….28

3.3    Research Problem…………………………………………..28

CHAPTER FOUR

4.0    Findings, Data Presentation and Analysis……………30

4.1    Brief History of First Bank Nigeria Plc…………………30

4.2    Organizational Structure of First Bank Nigeria Plc…33

4.3    Impact of E-payment on Nigeria Financial System….34

4.3.1 Positive Impact……………………………………………….34

4.3.2 Negative Impact……………………………………………..36

4.3.3 Constraints of E-payment System………………………38

4.4    Data Presentation…………………………………………...41  

CHAPTER FIVE

5.0      Summary, Conclusion and Recommendation…….....56

5.1    Summary……………………………………………………..56

5.2    Conclusion……………………………………………………56

5.3    Recommendations…………………………………………..57

         Bibliography………………………………………………….61

CHAPTER ONE

1.0   BACKGROUND OF THE STUDY

1.1    INTRODUCTION

         Payment systems are currently being developed around the world.  As technology progressed, so too have payment systems. E-payment is the latest method of paying and exchanging the value of the payment. The CBN recently has granted approval to a number of Banks to introduce International and money transfer products, telephone banking, online banking via the internet, though on a limited scale.