Challenges and Prospects of E- Payment Services: in Commercial Bank of Ethiopia, Addis Ababa Area

Abstract

This study conducted with a main objectives to asses challenge’s and prospects of E-payment of CBE and factors those strongly influence customer’s decision to become and stay user. The mixed research technique is undertaken via questionnaires and interview to the selected respondents; Questionnaire was prepared to users of e-payment service and semi structured interview were prepared to the management staff of the bank. Descriptive method is employed using tables and percentages are used to illustrate the findings. The findings of the study show that the bank has faced some challenges relating with e-payment service. Lack of awareness, less responsiveness system, dependency on government network provider, heavy investment costs, poor telecommunication network infrastructure and electric power interruption challenges are the serious ones. All these factors affected the development of the service as expected. In this study, the management is advised to review its staff’s knowledge on the basic features of service and monitoring strategy should also be designed on how the service support to deliver. CBE has to keep working to retain the good attitude of customer towards the e-payment services by keeping up meeting and exceeding customer’s expectation. Further awareness and confidence of customers on the service should be raised by involving educational institutions in the awareness creating activities. The banks management commitment on the introduction of the service should also be stretched to the extent of convincing top government officials to declare and enforce usage of the service as a national agenda