ELECTRONIC PAYMENT CHANNEL AND THE ECONOMIC GROWTH OF NIGERIA

The subject matter of this study is to examine the effect of electronic payment channel on the economic growth of Nigeria. The study covers a period of 2009-2019. The study made use of secondary data adopting the Ordinary Least Square. E-View 10.0 was used to analyze the hypotheses. Based on the findings, it was discovered that Automated Teller Machine Transactions had positive (0.388509) and insignificant (0.7078) effect on real gross domestic product of Nigeria while Point of Sales Transactions had positive (4.362460) and significant (0.0024) effect on real gross domestic product of Nigeria. The study concluded that ATM transactions and Point of Sale (POS) transactions significantly affects real gross domestic product in Nigeria. The study recommended that Banks should be mandated by regulatory authorities to reduce ATM charges and make available ATM boot in rural areas. Cost of obtaining POS terminal should be reduced so as to integrate more users which would help drive the cashless policy of CBN.

1 19 Jan, 2024

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JBMIC PORTAL SYSTEM

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