An Examination of Payment Gateway Challenges in E-commerce: Evidence from Paystack Nigeria
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Payment gateways are the backbone of e-commerce, facilitating secure transactions between buyers and sellers. In Nigeria, platforms like Paystack play a critical role in enabling digital payments, supporting the growth of online businesses. However, e-commerce platforms and their users frequently encounter challenges with payment gateways, including technical failures, security concerns, and limited integration with financial systems (Umeh & Johnson, 2024).
As one of Nigeria's leading payment gateways, Paystack handles a significant volume of transactions daily. Despite its successes, the platform faces issues such as downtime, fraud attempts, and regulatory constraints, which affect its efficiency and reliability (Chukwu, 2023). These challenges impact the overall customer experience and the growth of Nigeria’s e-commerce ecosystem.
This study explores the challenges faced by Paystack and examines how they affect the e-commerce sector in Nigeria.
Statement of the Problem
Despite advancements in payment gateway technologies, challenges persist in Nigeria’s e-commerce sector. Issues such as payment failures, delayed settlements, and security breaches undermine consumer trust and business performance. Paystack, as a major player, has been at the center of these challenges, raising concerns about the sustainability of its services (Ogundipe & Adekunle, 2023).
Without addressing these challenges, the growth of Nigeria’s e-commerce sector could stall, limiting its contribution to the national economy. This study seeks to identify and address these issues to enhance the efficiency of payment gateways.
Objectives of the Study
- To identify the challenges faced by Paystack in providing payment gateway services.
- To analyze the impact of these challenges on Nigeria’s e-commerce sector.
- To propose solutions for improving payment gateway operations in Nigeria.
Research Questions
- What challenges does Paystack face in providing payment gateway services?
- How do these challenges impact the e-commerce sector in Nigeria?
- What solutions can enhance the efficiency of payment gateway operations in Nigeria?
Research Hypotheses
- Paystack faces significant challenges in providing efficient payment gateway services.
- Payment gateway challenges negatively affect Nigeria’s e-commerce sector.
- Improved payment gateway systems can enhance the growth of Nigeria’s e-commerce sector.
Scope and Limitations of the Study
This study focuses on Paystack as a case study, examining payment gateway challenges and their impact on e-commerce in Nigeria from 2023 to 2025. Limitations include restricted access to proprietary data and the dynamic nature of e-commerce trends.
Definitions of Terms
- Payment Gateway: A service that authorizes and processes online transactions between buyers and sellers.
- E-commerce: Commercial transactions conducted electronically on the internet.
Fraud Attempts: Unauthorized or malicious activities aimed at exploiting payment systems.
Related Project Materials
THE ROLE OF BUDGETING IN RISK MANAGEMENT
THE ROLE OF BUDGETING IN RISK MANAGEMENT
This study aims to: (1) investigate the role of budgeting in risk management, (2) identify key b...
The Effect of Residency Training Policies on Medical Education in Bauchi State
Background of the Study
Residency training is a critical phase in medical education that equips medical graduates with s...
THE EFFECTIVENESS OF INDUSTRY-SPONSORED SCHOLARSHIPS IN VOCATIONAL SECTORS
Abstract: The effectiveness of industry-sponsored scholarships in vocational sectors is piv...
An Examination of the Effectiveness of Journal Clubs in Promoting Evidence-Based Practice Among Nursing Students in Federal University, Birnin Kebbi
Background of the Study
Journal clubs are educational forums that provide an opportunity for healthcare professionals and students to dis...
The impact of stringent internal enforcement measures on mitigating operational risks in banking: a case study of Guaranty Trust Bank
Background of the Study
Operational risks in banking, including fraud, system failures, and procedural lapses, pose significant threats t...
INFLUENCE OF CLASSROOM SIZE ON ACADEMIC PERFORMANCE OF SECONDARY SCHOOL STUDENTS IN NIGERIA
ABSTRACT
This research was performed to examine the influence of class room size on academic performance of secondary sc...
An Assessment of Nurses' Knowledge and Response to Cases of Sudden Infant Death Syndrome at Ebonyi State University Teaching Hospital
Background of the Study
Sudden Infant Death Syndrome (SIDS), also known as crib death, is the sudden and unexplained death...
THE CAUSES AND EFFECTS OF SMOKING AMONG SECONDARY SCHOOL STUDENTS
ABSTRACT
This study was carried out to examine the causes and effects of smoking among secondary school students in sele...
DOMESTIC VIOLENCE PERPETRATED AGAINST WOMEN AND IT EFFECT ON CHILDREN’S
Background to the Study
It is the smallest unit of society and one of the primary agents of socialization inside the fam...
A Critical Analysis of Dynamic Pricing Strategies in Nigerian Retail Businesses: A Case Study of Shopping Malls in Sokoto State
Background of the Study
Dynamic pricing is a pricing strategy where businesses adjust...
