There is no contesting the fact that the introduction of ATM has changed the face of electronic payment in Nigeria. This essay hopes to appraise the advent of ATM driven payment with regard to the present and future. 2.0ORIGIN OF ATM IN NIGERIA
Automated Teller Machines (ATM) was introduced into the Nigerian market in 1989, as a matter of fact, the very first ATM in Nigeria was installed by National Cash Registers (NCR) for the defunct Societe Generale Bank Nigeria (SGBN) in 1989. 2.1 BANKS AND ATMS
Banks in the country are now adopting Self Service (ATMs) technology because it is cost effective in the long run. System in Nigeria In the past few years, Nigerian banks and the financial services industry in particular, have embraced the concept of e-money. Changes are beginning to take place in the Nigerian financial landscape and customers are increasingly raising the hope of expectations for quality customer services. They offer convenience to customers and provide banking services well beyond the traditional brick and mortar service period. They also ensure that a lot of cash is still within the banking system where it can be managed and channelled into productive use, instead of bulk withdrawals that we use to witness in the past. It is good for customers to withdraw cash that they need by eliminating the risk of loss through theft and fire. All in all it is has been win-win scenario for all the parties concerned. 2.2 PROBLEMS FACING ATM IN NIGERIA
Normal challenges facing other businesses in Nigeria – like power outages, telecoms breakdown and others do affect electronic payment platform like ATM services in Nigeria. There are also staff training issues that are to be sorted out, training and re-training of staff displaced by automation and customer/consumer education still lags behind. With regard to Power, most ATM machine run on generators, UPSes and inverters to back up PHCN, in some extreme cases, depending on how mission...