Consumer Payment Pattern and Motivational Factors for Using Debit Card in Nigeria

This study examined payment pattern adopted by consumers and motivational factors for using debit card as well as direction of preference for electronic payment instruments. Cross sectional data were collected from 300 randomly sampled respondents from 20 local government areas of Lagos state, Nigeria. The result of the analysis shows that paper-based instruments such as cash and cheque continue to remain a dominant form of payment in Nigeria economy. Convenience of use and time saving benefit are among the motivational factors influencing consumers continuous use of debit cards. Sustaining the ease of transaction and reducing glitches that may hamper timely delivery of transactional services are vital to ensuring continuous use of electronic payment system.