E-business: Why full adoption of e-payment tools fails

The growing acceptance of digital lifestyle appears to make more Nigerians increasingly addicted to e-business.

The implication is that the prospects of cash transactions is fast shrinking, giving way to electronic payment system.

However, if opinions of major stakeholders in the e-business sector are anything to go by, there are still pockets of challenges trying to play down the impacts e-payment have made.

Some of the operators in the payment and financial institutions, who spoke to Vanguard, outlined some of those challenges facing online mobile transactions to include poor connectivity, low banking culture in some parts of the country, unfavorable regulations and poor funding, among others.

Some of these challenges, according to them, have made it impossible for automated teller machine, ATM, point of sale, POS and other payment channels to be fully adopted in the country.

Vanguard, August 29, 2018

 

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