Electronic payment system and customers’ satisfaction: The case of Nigeria Naira redesign
Abstract
In the wake of the CBN's policy to redesign the naira in Nigeria, the study assessed the degree of customer satisfaction with e-payment methods. Bank customers in University of Port Harcourt, Rivers State, were the subject of the investigation. Automated teller machines (ATMs), point of sale (POS), and mobile banking (MB) were included in the electronic payment methods that were chosen. The survey research design was used for the investigation. 140 bank customers from banks in University of Port Harcourt, Rivers state, make up the study's sample. The researcher's questionnaire served as the instrument for gathering data. The paired sample t-test method and descriptive approaches were used to examine the collected data. The results revealed that all of the e-payment systems' channels actual customer experiences considerably fell short of expectations, proving that bank customers in Port Harcourt were not satisfied with any of the e-payment system channels being used at this time of the CBN's currency (naira) redesign policy. According to the study's conclusions, the study recommends that the monetary authorities should work with commercial banks and other stakeholders to strategically put ATM machines in key locations to provide greater accessibility. In order to maintain their dependability, these machines need also be frequently restocked with cash. Banks should also keep looking for methods to enhance the effectiveness of the e-payment services by enhancing their networks and consistently soliciting feedback from clients.
How to Cite This Article
Nwaogu Chimezie Emmanuel (2023). Electronic payment system and customers’ satisfaction: The case of Nigeria Naira redesign . International Journal of Multidisciplinary Research and Growth Evaluation (IJMRGE), 4(4), 719-728.