Electronic Payments (E-Payments)

Electronic payment is becoming a commonly used payment method in a wide variety of transactions. Many people believe that the electronic payment option offers more convenience, safety, and efficiency over paper-based methods. Electronic payment may be used in such transactions as, among others, banking, utility bill payment, tax payment, and consumer purchases.

Electronic payments refer to all payments that are completed using some form of electronic communications technology with a range of payments instruments such as credit or debit cards, internet payments, direct debiting of accounts, electronic money and click- through transactions are all included.

Electronic payments are generally subject to the same contract laws as more traditional payment methods. In the case of mistakes due to technology failure, the entity being paid usually has their own policies applicable to refunds.

We advice primarily, on matters of electronic transactions and merchant transaction acquiring law. Corporate, commercial, e-commerce, biometrics, ATM and SIM advice is also provided. Layonu clients include principally electronic transaction businesses located in the Nigeria, including payment processors, banks and independent sales organizations. The firm also advises on anti-trust and competition law matters in payments and electronic transactions markets.