Designing a Reliable E-payment System: Nigeria a Case Study
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The Nigerian economy is largely cash-based with a lot of money residing outside the
~anking system. To a greater extent. this has hindered the pm1icipation of her citizens in
e-commerce where e-payment is the acceptable means of settling transactions. This paper
teviews thee-readiness of Nigeria as a country: the available payment methods: the
llotivation and opportunity fore-commerce; and the challenges motivating its wider
.-rrications. We propose: a legal framework among the stakeholders and government to
guide the operations of the scheme; a public-private-partnership (PPP) initiative to
manage the entire system with a view to guaranteeing security, confidence and effective
controL and a robust e-payment architecture.
Keywords
QA75 Electronic computers. Computer science