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Research Intro

The document discusses the increasing popularity and usefulness of e-wallets for cashless transactions. E-wallets allow people to conduct a variety of payments easily from any location using just a mobile phone. However, some consumers remain hesitant to use e-wallets due to privacy and security concerns. Research on Filipino consumers found that e-wallets are chosen frequently for their convenience as bank accounts are not needed, just a SIM card and downloaded app, though internet speeds in the Philippines can be poor. E-wallets provide transaction data to both consumers and merchants but privacy and security issues must still be addressed to further digital market development.

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50 views2 pages

Research Intro

The document discusses the increasing popularity and usefulness of e-wallets for cashless transactions. E-wallets allow people to conduct a variety of payments easily from any location using just a mobile phone. However, some consumers remain hesitant to use e-wallets due to privacy and security concerns. Research on Filipino consumers found that e-wallets are chosen frequently for their convenience as bank accounts are not needed, just a SIM card and downloaded app, though internet speeds in the Philippines can be poor. E-wallets provide transaction data to both consumers and merchants but privacy and security issues must still be addressed to further digital market development.

Uploaded by

Shr Bn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Things have improved significantly as a result of new technologies.

The E wallet
is built to make a man's life simpler and more comfortable. Anything can be done with a
mobile, like buying food or groceries, booking a taxi or movie tickets, and so on. With
the introduction of Mobile Wallet (Kabir, 2015;Saidin & Ahmi) , it is now possible to
conduct cashless transactions at any time and from any place. Offering E wallet'
devices, there is still a lack of public understanding about the idea and its usefulness.

According to (Akhila, 2018) In today's business world, the E-wallets scheme is


increasingly becoming a risky form of payment. This is because of its effectiveness,
ease of use, and timeliness. It is a payment system that is constantly being accepted
and implemented in both developed and emerging countries' financial systems with the
intention of simplifying and easing payments in business [Link] other terms, all
of life's simple payment transfers can be done with a single click. E wallets have
modernized the payments system by allowing consumers to use a range of financial
resources ranging from utility payments to e-tailing.

This study is relevant to previous works about the use of electronic money in online
shopping and payment of bills for instance. But this study aims to seek information on
the satisfaction of Filipino consumers using e-wallet as part of their cashless
transactions in particular. As studied by (Chaves, et. al, 2019), they claimed that
Filipinos choose this method of payment more frequently due to convenience where a
bank account is no longer necessary. They also added that only a SIM card and a
downloaded e-wallet application are the only thing needed to make any necessary
transactions. In the early 2000's, this has become more popular since the time when
electronic money has been introduced. Furthermore, they said that six out of ten
Filipinos are now choosing this cashless payment method over the traditional method
despite the bad condition of internet speed in the Philippines.

As stated by (Anitha, K.M., 2019), not only that this method of payment is efficient in
time but it can also give its consumers as well as the merchants the data forms of
transactions. The information of the consumers is being recorded once and then any
cashless transactions can be made easily online. However, as stated by Tamturk (as
cited in Opalla, et. al, 2019) there is a hesitation in the use of e-wallet due to its privacy
and security concerns, and this block the development of the digital market.
References:

Kabir, M. A., Saidin, S. Z., & Ahmi, A. (2015, October 20).


Adoption of e-Payment Systems: A Review of Literature.
ResearchGate. [Link]
/303329794_Adoption_of_e-Payment_Systems_A_Review_of_
Literature

Akhila, P. H. (2018, August 12). STUDY ON CONSUMER


PERCEPTION TOWARDS DIGITAL WALLETS. IJRAR-
International Journal of Research and Analytical
Reviews, 5(3 JULY-SEPT 2018), 385a–391a.
[Link]
pdf

Opalla, I., Uy, J., Cabasa, R., Palacio, M., Torrefiel, M.,
Cabantud, A., Cabezas, A., Magnaye, L., Maluenda,
M., Fernandez, L. (2019, March). Customers’
Perception on the Trustworthiness of Electronic
Commerce: A Qualitative Study. Research Gate.
[Link]
Customers
%27_Perception_on_the_Trustworthiness_of_Electronic
_Commerce_A_Qualitative_Study

Chaves, S. M., Iturralde, E., King, N. M., Mate, M. C.,


Riano, J. C., Rosendo, R. J. (2019, May). Industry
Study of Electronic Money. Research Gate.
[Link]
stry_Study_of_Electronic_Money

Anitha, K. M. (2019, April). Users’ Satisfaction with


Electronic Payment System: A Study with Special
Reference to Ottapalam Municipality. Cikitusi Journal.
[Link]

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