appraisal of the effect of electronic payment system on customer satisfaction in nigeria banking...

8/20/2019 Appraisal of the Effect of Electronic Payment System on Customer Satisfaction in Nigeria Banking System

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Appraisal of the effect of electronic payment

system on customer satisfaction in Nigeria

banking system

CHAPTER ONE

INTRODCTION

! Descripti"e #ackgroun$ of the %tu$y

Today’s business environment is extremely dynamic in

nature. It has experienced rapid changes as a result of

technological improvements, increased awareness and

demands for banks services. The Banking industry of the 2st

century operates in a complex and competitive environment

characteri!ed by these changing conditions and highly



unpredictable economic climate, thus, information and

communication technology "I#T$ is at the centre of this global

change. %medu "2&&'$ asserts that banks over the time have

been using electronic and telecommunication networks for

delivering a wide range of value added products and services.

Therefore, information systems could not be ignored because

they play a critical role in current Banking system in (igeria.

)lectronic banking is known as e*banking, virtual banking

or an online Banking, it is a service that allows customers to

access their bank information, conduct financial transactions,

make deposits, withdrawals and pay bills through the internet

without having physical visit to their banks. It provides the

convenience of accessing banking facilities from the comfort of

their home+offices. "%wamleh -ernande!, 2&&'$.

The concept of electronic banking system began when the

first %utomated Teller achine were instated in the /0&s. %n

%T machines allowed deposits to be made from the remote

locations a convenience for customers who otherwise would

have had to withdraw cash personally from their bank. The

advantages offered by %T achines 1uickly split over to



encompass other areas of bank services, computeri!ing manual

system for greater efficiency and time savings. The concept

behind %T machines gave rise to smart cards, intranets and

internet banking, electronic funds transfer )-T3, (IB44

"(igerian interbank settlements system$, 564 5oint of 4ales

4ervice.3, %ccess mobile, and other electronic devices

"%hasanul, 2&&$.

The growth in the application and acceptance of internet*

driven technologies means that delivering an enhanced service

is more achievable than ever before, however it is also more

complex and fraught with potential costs and risk. The internet

introduces customers to a new perception of business time as

always available and demanding an urgent and rapid response.

The serves as a challenge for managers who must to reconcile

their business and their own personal perceptions of time with

the perceived reality of internet time, as the internet has

decisively shifted the balance of power to the customer.

5resently, banks in (igeria are adding value to their

services for customer’s satisfaction. The customers have more

choices in choosing their banks because the new age IT



"Information Technology$ is bringing about sweeping changes

in the banking industry, forcing them to reengineer many of

their basic processes and systems. -ew of the technology*

driven electronic banking services being offered are vi!.

%utomated teller machines %T, )lectronic #learing 4ervice

")#4$, electronic funds transfer ")-T$, tele*banking, internet

banking etc. (ew technological capabilities are now being

effectively used to create value and to better manage customer

relationship in (igeria banking system. "7a8i, 2&&$.

!&' Ob(ecti"es of the stu$y

The main ob8ective of this research is to appraise the effect of

electronic payment system on customer satisfaction in (igeria

banking system. 4pecifically, the study will examine the

following ob8ectives9*

i To evaluate the effects of electronic payment system on

banks customers.

ii 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 market si!e of the banks.

!&) Research *uestions

The following research 1uestions were developed in order to

guide the study9

i :oes the electronic payment system enhance service

delivery in the banking system;

ii :oes the electronic payment system increase the market

si!e of the banks;

iii :oes the electronic payment system enhance the

competitive advantage of the bank’s;

iv :oes the electronic payment system enhance customer

satisfaction of the banks;

!&+ %cope of the stu$y

In terms of coverage, this study will focus on the effect of

electronic payment system on customer satisfaction in %ccess

bank 5lc. This means that issues relating to electronic banking

will be explained. In view of the technicalities involved, it would

be unrealistic to assume that all necessary facts have been

gathered in the process of the study.

appraisal of the effect of electronic payment system on customer satisfaction in nigeria banking...

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