The study carried out an investigation on electronic payment system in Nigeria focusing on the implementation and the constraints antagonizing it with the aim to come up with solutions to the constraints so identified. The ostensible low level of contentment with e-payment system in Nigeria motivated this study. Banks, contractors and government agencies formed the sampling population with total of 200 respondents and the analysis is carried out predominantly on the primary data retrieved from the respondents. Militating constraints towards success of the system were identified in the study and also suggested recommendations for effective implementation of the system.