IMPACT OF WEB BASED BANKING SYSTEM ON PROFITABILITY OF LICENSED BANK IN NIGERIA

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Internet banking is the use of internet in order to provide services like on line transfer, payment of bills and any other on line banking activity. Internet banking can be grouped into four major classes;

  • Telephone banking: this is a form of internet banking which is used by customers in order to perform or carry out retail transactions by calling phone communication units which are linked to an automated system of bank. Some activities that can be carried out are change of pin and transfer of funds.
  • Internet banking: this is also another form of banking which allows customers to make use of the bank’s website in order to make transfers, pay bills, view their bank statement without having to visit the banking hall.

c)Mobile banking: this is a form of internet banking which involves the use of cell or mobile phones in order to settle some transactions. Some of the examples of this transactions includes; change of pin, transfer of little amount of funds, phones recharge.

d) Electronic card: this is a form of internet banking is a physical plastic card that identifies the holder of the card. It is used for financial transactions on line which includes point-of-sale (POS)and Automated Teller Machine (ATM)which are used to authorize payments to the sellers. The various types of this cards include; credit and debit cards which have to be replenished