The aim of this study is to examine demographic variations I consumer acceptance and use of e-banking services. The demographic variables included in the study, apart from e-banking product, with their options are: gender: male and female; income: ₦30,000 and below, ₦31,000-450,000, above ₦450,000, age: 18-35 years, 36-55 years, and above 55 years; and education: primary/non-formal, secondary, graduate, and postgraduate. Only educational levels show serious variation. From the analysis, ‘F’ is 3.429 with p value of .035. This means the analysis is significant at .05 hence the hypothesis that there is a significant differences in the use of e-banking by the various levels of education is validated. From the results of this study it is clear that to achieve improved product and service offering, a strong product management is required. As customers consolidate payment relationships and embrace e-banking, banks become more exposed to non-bank financial institutions and service providers which impact on margins. A key element of product management is to manage offerings through market segmentation. Tailoring offerings to a specific need of customers, instead of generic offering for a broad category of customers will give the customers a better impression of the banks’ ability to understand their needs.
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