Digital Electronic Payment and Bank Performance in Nigeria

This study investigated digital electronic payment techniques being a financial technological innovation, and its impact on banks performance in Nigeria. The study adopted an expost-facto research type with a time series collected on a quarterly basis covering a period of 2009 to 2020. Entirety of study was 21 deposit money banks quoted on the Nigerian Stock Exchange. Data collected were obtained from Central Bank of Nigeria (CBN) Statistical bulletin and analyzed with Error Correction Model (ECM). The study revealed that digital payment by way of mobile banking; automated teller machine and internet banking have significant influence and positively related to bank financial performance, suggesting that they were cogent technological changes factors enhancing bank performance. Meanwhile, Point of Sale (POS) or debit cards had a negative significant influence on bank performance. The study has provided some useful insight into factors that can continue to enhance the influence of the nexus between digital electronic payment means and banks' performances.