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Impact Of Electronic Payment System In The Nigerian Financial Institution
[A CASE STUDY OF FIRST BANK NIGERIA PLC]
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8. SCAM – An elaborate fraud involving fake financial document, that is undertaken to unjustly enrich the operator.
9. IT (Information Technology) – It center around automation management task in offices and business organization, for the Central Bank of Nigeria (CBN) in the late 1996 granted an approval to a bank in the country to introduced a financial product following the IT innovation system (a closed system electronic purse) known as the Electronic Smart Card Account (ESCA).
10. E-CASH – Is anonymous digital money whose validity is checked online by the corresponding financial institution E-cash is develop by Digit-cash and is offered by Mark Twain Bank, St Louis since 1995. Deutshe bank Ag, Frankfurt (main) offers e-cash as a pilot project to its customer since October 1977. The customers withdraw digital money from his e-cash account using the so-called blinding method and store it on its hard disk.
11. MOBILE BANKING – It offers customer the freedom of banking with mobile phone. The facility keeps a customer in touch with his/her finances all the time and anywhere.
12. THE MILLICENT – The Millicent method is developed by Digital Equipment corporation (DEC) to manage small and smallest payment (e.g. payment for getting information from the internet about the news and stuck quotation or payment for small programmes like java-applets).
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ABSRACT - [ Total Page(s): 1 ]ABSTRACT This project work examines the impact of electronic payment system in Nigeria financial institutional system.Sequel to the challenges encountered in our financial int6itutions towards meeting up with the responsibilities of the 21st century banking system to enhancing the growth of Nigeria economy sectors for developments in various operations of her economy. The impacts of electronic payment in Nigeria financial institution are of various advantages and disadvantages. To en ... Continue reading---
