The Role of Digital Payment Platforms in Shaping Consumer Behavior and Financial Reporting Accuracy in E-commerce Businesses in Nigeria

David Olanrewaju Akisanmi, Idowu Joseph Akande, Elizabeth Ayobami Alabi, Afeez Opeyemi Shoebi, Somtochukwu Agatha Edeh, Kofoworola Rhoda Musiliu and Benjamin Taylor
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David Olanrewaju Akisanmi: Department of Marketing, Federal Cooperative College, Ibadan, Nigeria.
Idowu Joseph Akande: Accounting, Kogod School of Business, American University, USA.
Elizabeth Ayobami Alabi: Habaripay Limited, (GTco), Nigeria.
Afeez Opeyemi Shoebi: Department of Business Administration, University of Lagos, Nigeria.
Somtochukwu Agatha Edeh: Customer Experience Management, Guaranty Trust Bank, Nigeria.
Kofoworola Rhoda Musiliu: Optimal Specialist Hospital, Nigeria.
Benjamin Taylor: Department of Accounting, Frankfurt School of Finance and Management, Germany.

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Abstract: This study looks into how digital payment systems affect customer behaviour and improve the accuracy of financial reporting in Nigerian e-commerce companies. The study's objectives are to: (1) determine how the availability of digital payment platforms affects consumer purchasing behaviour; (2) assess how these platforms affect the precision and openness of financial reporting in e-commerce companies; (3) investigate the connection between consumer spending patterns and the type of digital payment used; and (4) suggest best practices for financial management in e-commerce companies that use multiple payment platforms. 40 individual consumers who frequently purchase online and use digital payment methods were given structured surveys as part of a quantitative study design. According to the results, bank transfers (15%), mobile wallets (30%), and credit/debit cards (50%) are the most popular payment methods. 70% of respondents said they have faith in the veracity of financial reporting from e-commerce companies, and the majority (80%) believe that payments made via digital platforms are accurate. The survey also emphasises how consumer spending is greatly impacted by the usage of digital payment methods, with credit card users often spending more on online purchases than those who use bank transfers or mobile wallets. Digital payment platforms improve consumer trust and openness in e-commerce financial operations, according to the study's findings. According to the study, companies may preserve customer trust and boost operational effectiveness by implementing clear financial reporting systems, investing in security measures, and integrating a variety of payment methods.

Date: 2025-08-14
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Published in Journal of Global Economics, Management and Business Research, 2025, 17 (3), pp.1-21

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05212607

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