Legal Nature of Electronic Payment in Cameroon

  • Ncha Felix Mufanjo
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  • Ncha Felix Mufanjo

    PhD Research Fellow at University of Buea, Cameroon

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Abstract

Electronic payment is any payment mechanism which enables individuals, businesses, government and nonprofit organizations to make cashless payments for goods and services through cards, mobile phones and over the internet. This study examines the legal nature of electronic payment in Cameroon. Electronic payment is legally recognized in Cameroon, however, crypto currency prohibited. This study adopts the qualitative research methodology and the method used is doctrinal. The research finds that electronic payment is not a legal tender but a means of payment applicable to parties to a contract who have accepted it. The study recommends that the government should recognize crypto currency and regulate its use in Cameroon.

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Article

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International Journal of Law Management and Humanities, Volume 8, Issue 1, Page 627 - 636

DOI: https://doij.org/10.10000/IJLMH.118936

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This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.

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Copyright © IJLMH 2021