An X-Ray of the Level of Electronic Purse Usage in Nigeria

Abstract

This study sets out to examine the level of e-purse usage in Nigeria. Despite the invasion of e-purse as electronic banking channels that has the potential of disempowering the cash systems of exchange and granting firms competitive edge, it is interesting to note that the rate of cash usage still dominates in the Nigeria society. Thus, when compared with more advanced countries, less technically developed nations like Nigeria tend to be backward in terms of e-purse adoption and usage. The study results show that such factors as insecurity, erosion of privacy, customer inertia, operational difficulties and the like are the factors militating against e-purse usage in Nigeria. It is believed that if these inconsistencies are taken care of, the rate of e-purse acceptance will outweigh its present status in the near future.