CHAPTER ONE
1.0     BACKGROUND OF THE STUDY
1.1    INTRODUCTION
    Payment systems are currently being developed around the world.  As technology progressed, so too have payment systems. E-payment is the latest method of paying and exchanging value of payment.
    The CBN recently has granted approval to a number of Banks to introduce International and money transfer products, telephone banking, on-line banking via the internet, though on a limited scale.
1.2    OBJECTIVES OF THE STUDY
    This research work is to examine impact of electronic Banking in Nigeria banking system.
    Specifically the study objectives are:
(1)    to evaluate the prospects of electronic Banking in unity bank plc
(2)    to evaluate the impact of electronic banking in unity bank plc
(3)    to examine whether electronic banking has improve the fortune of the Bank
(4)    to examine the effect of electronic banking has it improve the fortunes of the Bank
(5)     to examine whether the bank electronic banking guideline comply with the CBN Electronic Banking guideline policy
1.3    DEFINITION OF TERMS
Some of the Keywords commonly used in the project work are defined as follows:
1.    ICC - (International Chamber of Commerce), this is regulatory body for internal trade.
2.    VISA CARD – Its function is to displace cash and cheque which can be used to buy excess. It is a name of electronic payment company.
3.    SMART CARD – A method of electronic payment involving the use of plastic cards it is incorporated by inter-name Consulting Ltd, to reduce the stress of carrying cash from one point to another. It is also an electronic purse which holds the electronic equivalent of cash to know as “digital purse” which has a microprocessor embedded which can be loaded with a monetary value. The card value if reduced with each purchase while the power of smart cards lies in their ability to store and manipulated data, to handle multiple applications on one card and to perform secure transaction.
4.    AUTOMATED TELLER MACHINE – An ATMs card allows a customer to withdraw cash from his or her bank account by entering a personal identification number (PIN) and having the amount of withdrawal immediately debited to the account. It gives customer easy access to his/her cash whenever he/she needs it (24 hours a day, 7 days a week.)
5.    VALUE CARD AND PAY CARD – An electronic equivalent of cash (substitute for cash and coins) are loadable and could be accepted as means of payment for goods and services.
6.    TELEPHONE BANKING – Enables customers to transact banking business through the telephone from anywhere there is access to telephone anytime of the day.
7.    SWFIT – (society for world wide inter Bank Financial Telecommunication). It is cooperative organization dedicated to the promotion and development of standardized global interactivity of financial transactions.