Perceived Security of E-Payment System and Reduction in Incidence of Fraud in Kwara State Internal Revenue Service, Nigeria

Globally, governments have been embracing e-payment system to fast-track revenue collection, and to equally minimize incidence of fraud. However, a major threat to the smooth operation of e-payment in Nigeria is security related issues. Therefore, this study examined perceived security and incidence of fraud, with particular reference to Kwara State Internal Revenue Service (KWIRS), Nigeria. The study obtained a sample of 285 from a population of 996. The findings demonstrated that perceived security dimensions strongly contributed to reduction in incidence of fraud. The study concludes that improvements in e-payment system security, particularly with regard to trust issues, have a significant impact on the amount of fraud reduction in KWIRS. It is recommended that the government ensure the expansion of the country's e-payment system, which necessitates adequate collaboration with the private sector in expanding the existing internet facilities, in order to improve the convenience of use and safety for users.