21ST Century Payment Channels and the Nigerian ICT Sector's Performance

This study seeks to empirically investigate the effect of the 21st Century Payment Channels on the internet and Communication Technology (ICT) Sector's performance in Nigeria from 2012 to 2019. Variables used to measure 21st Century Payment Channels include the volume of automated teller machines, mobile banking, electronic banking, point of sales, and real-time gross settlement while ICT Sector's performance was measured by Contribution of the ICT sector to Gross Domestic Product (GDP). Data were sourced from the CBN Statistical bulletin for the various years under study. The hypotheses of the study were tested using SPSS 23.0 to regress the dependent variable against the independent variables. On the whole, the study discovered that the 21st Century Payment Channels did exert any significant impact on the ICT Sector's performance in Nigeria. Specifically, the result revealed that both the volume of Automated Teller Machines and mobile banking have a negative insignificant impact on ICT Sector's performance. Further, Electronic Banking, Point of Sales, Real-Time Gross Settlements have a positive insignificant impact on ICT Sector's performance in Nigeria