Abstract:

Electronic banking products are choice alternative to cash payments, globally. However, local people to prefer cash payment in developing environments. The local markets in Abeokuta South Local government area are just like any other local market in developing economies where cash is the major means of payment. The study was carried out to see how fear of e-fraud affect buyers and sellers, in the choice of what payment method to use, in the area of study. With a sample of 50 respondents taken at random from each of the four main local markets, and analyzed with inferential statistics. The result revealed that the market people did not have the same level of fear for all the products. Result showed people felt safer with POS transactions as compared to other electronic platforms.

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