Electronic Payment System (EPS): Facilitating the Development and Adoption in Nigeria

Parties conducting electronic businesses and transactions have usually never seen each other face-to-face, nor exchanged currency or hard copies of documents hand-to-hand. The society at large prefers transactions that involve physical contact of people, cash and cheques to that which is done over a telecommunication network such as the Internet. However, security, trust and convenience are among the major contending factors affecting the adoption of e-payment systems in Nigeria. This paper presents issues on the factors necessary to facilitate the development of EPS in Nigeria and devise ways to enhance its adoption by users.