UNIVERSITY OF THE EAST

Caloocan Campus
College of Arts and Sciences
Basic Education Department
Accountancy, Business, and Management

E-WALLET VS CASH: FACTORS AFFECTING THE PREFERRED

MODE OF PAYMENT OF ACCOUNTANCY, BUSINESS,

AND MANGEMENT GRADE 12 STUDENTS

A Research Project Presented To

The Faculty of the Basic Education Department

University of the East

Caloocan

In Partial Fulfillment of the requirements for the HRE 112

Submitted by:
Mikolle G. Cereno
Pia A. Del Rosario
Jhade J. Estoperez
Hazel Japson
Maria Rosario Kristine D. Lamsen
John Martin S. Lim
Dashielle Joy O. Lumberio
Daniela N. Sevilla
Love Mari Jahn Y. Tan

Submitted to:
Mrs. Bricilda B. Guevarra, LPT
Research Adviser
2023
 Chapter 1

RESEARCH PROBLEM

This chapter of the study presents the background of the study, statement of

the problem, significance of the study, and the scope and delimitations.

1.1 The Background of the Study

The internet has made people's lives simpler in today's society. Payments are being

made using smart devices. One of the best inventions of the 21st century is the electronic

wallet (e-wallets), an integral part of the electronic payment system. The term "e-wallet"

is a form of digital wallet that allows an individual to link their debit or credit cards to a

digital wallet to make any transactions (Digital Wallet, 2019).

Since technology is important in our generation, it makes students' lives easier

because when they are using e-wallets as a mode of payment, they are safe from robbers.

But if the Abm students at the University of the East-Caloocan are still using cash as a

mode of payment, they are prone to robbers. We all know that in Monumento there are

robbers, and mostly they target students because they know that we have money. In terms

of convenience and transaction security, electronic wallets (e-wallets) are now seen to be

a solution to issues that frequently result from the usage of the currency. Even while there

is frequently a third-party (non-official) supplier, e-wallet use on campuses is still rather

uncommon. There is a pressing need to adopt other alternative payment methods since

there are many students who may be in danger of spreading the COVID-19 virus and other

infections by utilizing cash as a payment method on campus. The goal of this study is to
1
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create a mobile-based e-wallet that can be used to manage financial transactions on

campuses. In particular, single tuition payments, payments made at public service locations

(cooperatives, canteens, photocopying services), and fundraising for donations or events

utilizing the QR Code as the transactional method. A system requirements investigation is

carried out by administering questionnaires to target users (students). An iterative, rational,

unified process model was utilized to design the application, and it categorizes the stages

into ideation, elaboration, construction, and transition phases. The Model View Presenter

architecture is used as the front-end technology for the application, which is implemented

using the Android SDK mobile platform and the Laravel web framework as the back-end

technology.

Amid the coronavirus epidemic, the Philippine central bank is urging financial

technology firms to capitalize on the development of digital transactions and provide

much-needed services to Filipinos. According to the Bangko Sentral ng Pilipinas (BSP),

the ongoing public health crisis has increased the number and value of electronic

transactions. The COVID-19 crisis emphasizes the need for local banks and other financial

institutions to be more inclusive and the urgency of closing the vast gap in financial

services for small enterprises, both of which are vital to the economy's growth. The

Philippine government has prioritized e-commerce and electronic payment systems in its

attempts to increase financial and digital inclusion across the country. Through this, the

Bangko Sentral ng Pilipinas (BSP) has underlined that it will continue to support the

digitization of financial goods and services in the nation even after the pandemic-imposed

limitations are lifted. E-wallets are swiftly becoming all-purpose payment mechanisms,
 3

with significant growth in e-wallet usage for over-the-counter purchases over the last year.

The pandemic has increased their use since digital wallets offer a contactless

payment experience, whereas cash transactions protect our fundamental right to have our

privacy, data, and identity safeguarded in financial affairs. The concept of e-wallets and

cash is the same. Both facilitate payments and eliminate the need to enter card information

repeatedly. They are, however, very different. Years of research on the subject of the

increasing population have shown that the safest, easiest, and most dependable aspects are

the most important for customers. The absence of any component may cause customers to

favor one choice over another. Paying with cash does not require access to technology, the

internet, or electricity, so it can be used while the power is off or if your card is lost. It is

considered a legal payment. An e-wallet, on the other hand, securely keeps all of the

payment information of users in a compact form. As a result, carrying actual wallets is

considerably reduced. In addition to being a convenient way for its users, an e-wallet

ensures that the customer receives the highest level of safety features, such as a fingerprint

scanner and PIN code, while conducting transactions. All in all, the E-Payment system was

designed as an improved alternative to pay and exchange transactions, not to completely

replace cash.
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1.2 Statement of the Problem

The main objective of this study is to determine what payment method

Accountancy, business, and management students at the University of the East Caloocan

prefer. Also, this study aims to know what factors affect their chosen type of payment.

1. What is the preferred mode of payment of Grade 12 ABM students?

1.1 Cash

1.2 E-wallet

2. How do ABM students use their e-wallet or cash in terms of:

2.1 Transportation

2.2 Online Games

2.3 Shopping

2.4 School Requirements

3. How often do Grade 12 ABM students use their e-wallet and cash?

4. What are the disadvantages and advantages of Grade 12 ABM students in using

E-wallet or cash as their mode of payment?

5. What are the factors that affect Grade 12 ABM students on using cash and e-wallet?
 5

1.3 The Significance of the Study

E-wallets are quick and efficient, and the fund transfer typically takes place

instantly. It is a secure way of making payments. E-wallets eliminate the need for cash

payments, and funds are transferred directly into mobile wallets or bank accounts linked to

the mobile number. Because of the transaction's complexity, administrators are focusing

on digitization. It has now become secure and effortless to collect school fees online using

platforms such as Gcash, Paymaya, Online Bank, and others. Cash ensures your freedom

and autonomy. Bills and coins are the only forms of money that people can keep without

involving a third party. Carrying cash makes you a target for thieves, and cash doesn't come

with a zero-fraud liability guarantee.

Students: This study would help the students identify which mode of payment is more

convenient to use anytime, anywhere.

Teachers: The given data would guide the teachers to have a wider understanding of this

study and for them to understand what the preferences of Gr 12 students are.

Business owners: This would benefit them as more young people are using e-wallets

nowadays as a mode of payment.

Future Researchers: This would help them find more information they need and dive

deeper into the study

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School Administrators: This can be a solution to some of their problems when it comes

to paying for their students' certain miscellaneous expenses like tuition and uniforms since

it is faster and more convenient to use.

1.4 Scope and Delimitation

This study focuses on the comparison between cash and e-wallets, factors that

influence them, and assess the factors influencing the preferred mode of payment for cash

and e-wallets as an ABM student. This research analyzes and comprehends the aspects so

they will be able to appreciate the implications of using cash or an e-wallet for their regular

financial transactions. Given that people would be more aware of how paying students

impacts them, the net method will have a significant or positive influence. This study would

be conducted at the University of the East-Caloocan among accountancy, business, and

management Grade 12 students. This study would also cover sixty (60) students from the

five (5) sections of the ABM strand as respondents for the years 2022–2023. The reason

why the researchers chose the respondents is that the study will be circulated to them, and

they are the main beneficiaries of this study. This study is a quantitative type of research

and utilize surveys as a tool for data gathering.

 Chapter 2
FRAMEWORK OF THE STUDY

This chapter presents the related literature and studies on cash and e-wallets, which

are preferred by the students of accountancy, business, and management in grade 12 as

their modes of payment. also, be able to generate reliable data and gain a better

understanding of the problem under consideration.

Review of Related Studies

2.1 Foreign Literature

Mobile wallets are widely used and are gaining steam as alternative payment

methods across the world. When it comes to digital payments, people have benefited from

rapid technological advancement. Also, according to Hossain et al. (2020), due to the

advancement of financial technology, there is a discernible rise in cashless transactions.

Consumer shifts in behaviour from cash-based to cashless E-wallets make it more

convenient for customers to utilize services since they minimize the need for carrying cash

and enable businesses to conduct transactions at a cheap cost. E-Wallets operate as mobile

money transfer methods without requiring prior knowledge of the recipient's bank account.

The e-wallet virtual account is connected, allowing user payment. For the buyer to scan,

the recipient account will generate a barcode or QR code.

Sarupria et al. (2020) stated that people may now use digital wallets like Paytm and

Google Pay to pay for basic commodities like energy, water, LPG, phone bills, food,

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television, and online shopping and delivery services now that payments and transfers have

shifted online.

It is proven that e-wallets are the most effective way to become cashless and make

spending money more convenient without access to currency. (Gurme, 2019). According

to Subaramaniam et al. (2019), they can purchase the payment of their products by

scanning a QR code using a specific application. The amount will automatically be topped

up when the balance falls below the amount that you set. Using an E-wallet is safer because

it requires your ID document to verify your identity. Mobile devices that support E-wallets

have made it feasible for smartphone users to carry out several financial transactions. Users

can keep numerous credit cards, debit cards, and bank account numbers in a secure and

safe environment. E-wallet money in various fields like online shopping and travel booking

is really good in those kinds of transactions.

Given their pre-use anticipations and the actual operation of a device, consumers

recognize their contentment. When users are happy with mobile payment features like

increased efficiencies, incentives, cashbacks, and bonuses, they intend to switch to using

digital payment methods. According to Oliveira et al. (2016), as cited in Singh et al. (2019),

users who feel themselves satisfied with a system are frequently more likely to provide

others with favorable comments and recommendations. Several of our studies take users'

post-adoption behavior into account. Users would consult their social networks and weigh

friends' and family's opinions before selecting a technology. Reychav et al. and Lee, Lee,

& Yoo (2000), as cited in Singh et al. (2019), anticipated that users would consult their

social networking sites and ask friends and family for advice before selecting a payment
 9

system. Prior research has examined a few aspects of user usage and degree of satisfaction

concerning m-wallet software. To evaluate a user's continuous intention and usage, more

aspects can be taken into account, and the associations among these components can be

further examined.

2.1 Local Literature

As reported by Cacas et al. (2022), the Bangko Sentral ng Pilipinas pushed Filipinos

to switch to mobile payments. The number of people using mobile wallets has grown over

time. GCash is a complete payment system that allows you to pay bills, load up, and more.

For many years, financial services have progressed from cash to cards to digital

transactions. As respondents' technical understanding, usefulness, simplicity of use, and

trust rise, so does their behavioral intention. The more individuals who are aware of the

functions and possibilities of contactless payment technology, the more likely they are to

use it. While the recent COVID-19 outbreak showed their immediate significance,

contactless payments will remain in use, but this technology is expected to make "waves"

well into the future. The benefits of such a strategy are apparent, and wireless transactions

are likely to become the standard in the travel business shortly (Park et al., 2022).

According to Caxas et al. (2022), among the behavioral factors reported in the

study was perceived risk, which has progressed into a crucial factor affecting digital wallet

adoption. To enhance technology usage, the level of mutual trust built between users and

mobile wallet technology should be increased. It specifies whether or not they proceed with

the transaction. Thus, transaction security is critical in affecting users' ability to conduct
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transactions via mobile devices, and the more experience users have with online

transactions, the greater the likelihood of creating trust in the transaction. Also, there is

perceived trust in one user's commitment to a mobile wallet. Knowledge-based trust,

institution-based trust, calculative-based trust, cognitive-based trust, and personality-based

trust are all types of trust. Such factors influence one's trust in the digital wallet.

Moreover, e-wallets have played an essential role in implementing security and

have had a significant impact on businesses in the digital marketing industry. This is

because, unlike traditional payments, e-wallets reduce the quantity of documentation,

labor, and time spent on online transactions (Deloritos, 2021, as cited in Moreno et al.,

2022, p.29).

According to Raon et al. (2021), several existing scholarly researchers analyzed e-

payment processes with the use of technology acceptance models and varieties of these. E-

payment systems are broadly used in various parts of the world, and the literature study

provides various perspectives on the system's adoption. The purpose of implementing an

e-payment system can be attributed to the perception of risk.

Along with Acosta et al. (2019), the Philippines' present payment system must be

upgraded to boost the use of electronic payments for Pantawid Pamilya beneficiaries. The

Philippines' payment system infrastructure has been expanding, particularly inter-bank

payment systems and retail payment systems. This is consistent with ongoing efforts by

the government and private sector to improve access to transaction accounts. An enabling

environment supported by an adequate legal and regulatory framework is critical for

increasing access to transaction accounts.

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2.2 Foreign Studies

The latest advancement among purchasers is the use of an e-wallet application to

substitute the traditional payment method. It is a payment option via a smartphone

application that supports digital cards, digital receipts, digital coupons, and digital money

for purchases. Yeo et al. (2022) stated that individuals can utilize an e-wallet to easily make

purchases that satisfy their needs and wants.

An E-wallet is intended to persuade customers and small business owners to use

digital payments for smoother, easier, and more streamlined transactions during the

COVID-19 pandemic. E-wallets help people to have better transactions and are more

effective. (Rahman, 2022). According to Ibrahim et al. (2021), it benefits from the digital

revolution, which relies on online payment methods like Visa, MasterCard, and many

others to reduce the use of physical cash and give consumers alternative options. It also

provides E-wallet users with flexibility by allowing them to transfer or pay money using

their smartphone or laptop.

Numerous existing electronic wallets exist, such as PayPal, Gcash, PayMaya, Grab

Pay, etc. The existence of a reliable system is vital for the quick exchange of goods and

services. payment methods that are significantly faster, more effective, secure, and more

efficient. (Napitupulu, 2019)

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2.2 Local Studies

Wong et al. (2022) state that GCash, the country's most popular e-wallet provider,

has teamed with financial firms to provide its consumers with low-cost, pooled retail

investing products. Southeast Asia is dominated by applications that combine mobile

money, e-commerce, ride-hailing, and delivery into a single app. Such applications might

provide a gateway for Filipinos to make their first investments in retail. In the Philippines,

over 67% of stock market accounts in 2020 were internet accounts.

In addition to that, generation Y has a wide range of technological options; how

well they fit with their lifestyle is an important consideration. Generation Y has also

witnessed how trust was an issue at the start of e-commerce. The attitude toward mobile

payment adoption, specifically connection and trustworthiness, is also a major motivator

for Generation Y. Except for perceived ease of use, all variables are highly significant for

Generation Y (Valencia et al., 2021).

In contrast, Filipinos may be slow to adjust to the new e-commerce environment,

but the Bangko Sentral ng Pilipinas (BSP) published guidance for banking institutions on

e-banking and e-money issuance to encourage the use of online wallets. Given that it was

widely used, officials aimed to make electronic money transfers safer and more convenient

for their users. Furthermore, financial inclusion has low fees, allowing mobile cash to

provide a large number of people with their first digital store of value. Despite these efforts,

progress was initially slow (Reyes et al., 2021, p.1898). According to Cadena and Palaoag

(2020), the number of cashless transactions in the Philippines has increased to a 10% ratio

during the first quarter of 2018 as compared to the past 3 years, which only gained about a
 13

3% increase. The number of e-money transactions recorded by the BSP has increased from

2015-2016 and reached almost 1 trillion pesos, amounting to PHP 956.1 billion, a 4.3

increase from 2015 transactions. It was confirmed that BSP adopted the National Financial

Inclusion Strategy (NFIS) NSFI in 2014, which aims to achieve at least a 20% increase in

cashless payment transactions in 2020.

2.3 Synthesis

Few foreign and local literature and studies were directly related to the researcher's

topic, which is E-wallet vs. Cash: Factors Affecting the Preferred Mode of Payment for

Accountancy, Business, and Management Grade 12 Students. Some studies were also

different in terms of how people could use it and its functions. However, they shared a

common idea and concept: e-wallets are more convenient than using cash. Studies by

Hossain et al. (2020), Sarupria et al. (2020), and Subaramaniam et al. (2019) came up with

similar conclusions. They conveyed that there is a discernible rise in cashless transactions.

Consumer shifts in behavior from cash-based to cashless E-wallets make it more

convenient for customers to utilize services since they minimize the need for carrying cash

and enable businesses to conduct transactions at a cheap cost (Hossain et al., 2020). E-

wallets have played an essential role in implementing security and have had a significant

impact on businesses in the digital marketing industry. Raon et al. (2021) and Cacas et al.

(2022) found that e-payment systems are broadly used in various parts of the world, even

the Bangko Sentral ng Pilipinas pushed Filipinos to switch to mobile payments because

using e-wallets is safer because it requires an ID document to verify your identity. The very
 14

first e-wallet app that got popular was GCash. GCash is a complete payment system that

allows you to pay bills, load up, and more. For many years, financial services have

progressed from cash to cards to digital transactions. As respondents' technical

understanding, usefulness, simplicity of use, and trust rise, so does their behavioral

intention. The recent COVID-19 outbreak showed their immediate significance.

Contactless payments will remain in use, but this technology is expected to make "waves"

well into the future. In line with Acosta et al. (2019), the Philippines' present payment

system must be upgraded to boost the use of electronic payments for Pantawid Pamilya

beneficiaries. This is consistent with ongoing efforts by the government and private sector

to improve access to transaction accounts. With E-Wallet's current status, benefits,

opportunities, and key factors that influenced it as shown through the cited related literature

and studies, it was theorized that all these factors have a significant relation in today's

technological world that was adopted during the pandemic.

2.4 Conceptual Framework

Fig. 1 Research Paradigm

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The factors that affects in choosing cash

According to the Bangko Sentral ng Pilipinas (BSP), cash still accounted for 99%

of local transactions in 2018. According to research conducted by data analytics firm

TheNerve, cash is still the easiest payment method among Filipinos. Furthermore,

according to the BSP's 2017 Financial Inclusion Survey, just 1.3% of Filipino adults have

electronic money accounts. According to BSP data, around 12% of the adult population in

the country has an e-wallet account. Cash is considered nearly gone in China. Mobile

payments have become so common that even beggars use apps to collect donations.

Alibaba-backed Alipay and Tencent's WeChat have 700 million and 1 billion monthly

active users, respectively, in the nation. That represents nearly the entire Chinese

population, with a significant portion of that increase occurring in the last five years. In

comparison, Apple Pay, which comes standard with every iPhone, has only 127 million

users worldwide. The fundamentals of the Philippine market are strikingly comparable to

those of China's early days. While the local market is not extremely protectionist, and

China's two main credit card firms, Visa and MasterCard, have not experienced substantial

take-up, if you don't have any credit or banking history, it's difficult to get authorized for a

credit card. With 77% of Filipinos unbanked, mobile payments present an ideal opportunity

for consumers to avoid using cash.

Most Filipinos believe that mobile app payments are dangerous and that their

money and personal information may be stolen. However, security issues may be due to

Filipinos' fundamental skepticism of new financial technology rather than the applications

themselves. Numerous fraud occurrences, such as ATM card skimming and internet fraud,
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have occurred throughout the country. So you can't deny the appeal of interacting with a

person—there's always someone to hold accountable if something goes wrong.

The factors that affects in choosing e-wallets

China's IT giants are competing not only for online payments but also for offline

transactions. If businesses do not accept this type of payment in-store, mobile wallets will

struggle to gain traction. Because Alibaba and Tencent were well aware of this, they have

been competing for brick-and-mortar stores, restaurants, and other offline venues. They

recognized early on that sellers situated outside of cities could be unwilling to accept

mobile payments, which would necessitate a significant investment in new technology. To

accept Apple Pay and Google Pay, many vendors in the United States had to switch to

payment terminals that were compatible with near-field communication technology, or

NFC.

The QR code method is significantly less expensive than NFC and conventional

POS terminals or cash registers. In China, merchants could buy a QR code scanner,

sometimes known as a "little white box," for a fifth of the price of handheld POS systems.

Even better, retailers who do not have scanners may just print out a QR code that customers

can scan with their phones to pay. Because no hardware is required, anybody may become

a trader. It also implies a speedier checkout time because there is no need to count bills and

coins. QR code payments quickly became popular among China's offline retailers. The

technology has arrived in the Philippines, boosting the potential of mobile payments

becoming widespread among sellers. GCash enabled QR code payments a few months

following Alibaba's investment in 2017. PayMaya, not to be surpassed by its competition,

implemented the functionality on the same day. Before 2017, both e-wallet companies
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provided virtual and real Visa and MasterCard prepaid cards that their users could use to

pay in-store.

Lower costs are enticing. Lower costs are another aspect that should accelerate the

uptake of mobile payments. In the United States, Apple Pay and Google Pay do not keep

the money; instead, they charge credit cards associated with the applications (the US is

largely a card-based market). As a result, card companies collect a portion of each

transaction from businesses. By allowing users to pay using their app balances, which may

be pulled straight from bank accounts, Alipay and WeChat are undercutting those card

firms. However, this does not imply any fees for retailers. Alipay charges a 0.6% fee on

sales, which is far lower than credit card rates, which range between 1% and 5%. GCash

and PayMaya operate similarly to China's e-wallets, offering competitive rates. Both

provide cash-in options through real locations. GCash alone provides the bank transfer

function for cashing out, although registering bank accounts inside the program is a bit of

a procedure.
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Definition of terms

Accountancy Business and Management (ABM).

- A Senior High School Strand. It is a strand where students are interested in

business, financial management, corporate, and accounting. The majority of their

subjects revolve around statistics, accountancy, and entrepreneurship.

Applications.

- A software program that can be downloaded and used for personal or business

purposes, such as online purchases. Some of the most popular apps for online

transactions are GCash, PayMaya, PayPal, and QR Code scanner.

Back-end technology

- It is the code for a server that keeps data. The Laravel web framework was

employed as a back-end technology and was used throughout the application.

Bangko Sentral ng Pilipinas (BSP).

- A Philippine Central Bank that encourages Filipinos to switch to online banking

since it is safer because ID proof is required to verify your identity.

Cashback

- A reward for customers who shop online and earn a certain percentage. The

money will be directly placed into the customer's e-wallets.

Cashless Transaction.

- It is a payment method through the use of mobile devices without the use of hard

cash. Individuals have avoided physical contact since the outbreak began in order

to reduce the transmission of the COVID-19 virus.

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COVID-19

- It is an infectious airborne virus that has an impact on consumer behavior. The

restrictions and to avoid direct contact, consumers purchase their goods online.

Credit cards

- A card that allows you to borrow money to purchase products or services up to a

certain limit. Consumers use it as a traditional cashless transaction.

Debit cards

- It is a card with a bank number that is used to pay without the use of cash; simply

swipe or insert the card and the amount will be deducted from your account.

Digital coupons

- a redeemable discounts and promotions offered to customers by online stores. It

convinces customers to buy in-store or online.

Digital Payments.

- It is the payment that is done online through mobile devices. Online payments

emerged due to technological innovation and expanded when the pandemic began

since individuals could not interact physically.

Digital receipts

- It is documentation that is sent to the consumer directly after payment. It is proof

of payment without using physical paper and is typically issued when making an

online purchase.

Digital Revolution.

- It is the transformed and improved payment of banking services and increased

financial system accessibility.

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E-commerce

- It is the online selling and buying of goods. A single app that allows you to pay

online, book a ride and deliver the products.

Electric Money (E-Money).

- It is used for contactless payments in transacting to avoid direct interaction which

was encouraged when the pandemic began and people refused to use hard cash

owing to the risk of infection.

E-Payment System

- It is an improved alternative to pay and exchange transactions. It is digitalized and

is accessed through the internet via a mobile device.

Front-end technology

- It is a technology that is used to develop and update software. It was developed on

the Android SDK mobile operating system. HTML, JavaScript, and CSS are web

technologies that assist in the accessibility of an interface.

Gcash/Paypal/Paymaya.

- It is a mobile wallet app that enables you to pay, withdraw, and transfer money.

This online platform is commonly used by students to collect and pay school fees.

Generation Y.

- Due to the increased technological innovation, they are the first to adopt mobile

payments and other digital transactions; cashless transactions fit their lifestyle.
 21

Incentives

- A bonus such as cashback, vouchers, or discounts that the consumer receives. It is

one of the reasons why people embrace digital payments since they attract people

to shop online.

Internet.

- A global computer network. It lets users download apps, scan QR codes, and

perform online transactions via an e-wallet and mobile banking.

Mobile Wallet/ Electronic Wallet (E-Wallet).

- A form of payment method that is utilized for digital and cashless transactions. It

is a convenient way to purchase and store e-money using an app and a digital

device.

Payment Method.

- A payment option that is based on consumers’ preferences. It can be via mobile

payments/ E-wallets, checks, cards, or traditional hard cash.

PIN Code

- It is a numerical code that functions as an e-security wallet's feature. It secures the

users' security and privacy while they carry out the transaction.

QR Code.

- It stands for “quick response”. Instead of inputting the recipient's information,

they will generate a code that the buyer may scan and direct them to the payment

website to save time and convenience.

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Small enterprises

- It is a small company that serves local or small communities. The epidemic

enhanced the shortage of financial services for small businesses that support

economic growth.

Smart Phone

- A phone-like computer with various added features. It carries out several financial

transactions such as paying, transferring, and sending money.

Technological Advancement.

- It is the enhanced payment system in which technologies such as online shopping

and food delivery significantly improved.

Traditional Payment Method.

- The most common mode of payment was cash. Checks and credit cards are also

commonly used forms of payment.

Transactions.

- It is an agreement and exchange of goods or services for cash or electronic

money. It could be physical or digital.

 Chapter 3

RESEARCH DESIGN

This chapter consists of six (6) parts: one (1) Research Method, two (2) Research

Locale, three (3) Nature of the Subject and Respondents, four (4) Data and their Sources,

five (5) Research Instruments, and six (6) Procedure. Specifically, this research presents

the research method, research locale, nature of the subject and respondents, data and their

sources, research instrument, and procedure. The researchers used quantitative

methodologies to conduct this study. The researchers attempted to find answers to the

aforementioned problem as well as justify and fulfill the study's objectives. Similarly, it

attempted to learn about the various effects on their lives.

3.1 Research Method

The researchers used qualitative research method with the use interview

questionnaires factors affecting the preferred payment method of Grade 12 ABM students

in conducting this study. According to an article by Arabian Group of Journals (2017), The

aim of this study is to explicate the quantitative methodology. The study established that

quantitative research deals with quantifying and analyzing variables in order to get results.

It involves the utilization and analysis of numerical data using specific statistical

techniques to answer questions like who, how much, what, where, when, how many, and

how. It also describes the methods of explaining an issue or phenomenon through gathering

data in numerical form. The study further reveals that quantitative methods can be

categorized into; survey research, correlational research, experimental research and causal-

comparative research.

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3.2 Research Locale

The research was performed in CAMANAVA, a high population-density area in the

northern section of the Philippine Metropolitan of Manila. Face-to-face interviews with the

respondents were then conducted. Given the current state of the nation and the need to

ensure the safety of both participants and researchers, these specific implementation areas

have been selected.

3.3 Nature of the Participants

In the research study, the researchers used purposive sampling, which refers to a

group of non-probability sampling techniques in which units are selected because they

have characteristics that they need in the researchers' sample. In other words, units are

selected "on purpose" in purposive sampling, according to Nikolopoulou, K. (2022). It is

also used to recruit participants who can provide in-depth and detailed information about

the phenomenon under investigation. The researchers would interview 5–10 student

participants at the University of the East-Caloocan. These then included those who made

use of e-wallets and cash during the pandemic. Specifically, students who are in

CAMANAVA. Their questionnaires are going to be distributed to the participants. The

researchers would provide consent forms to those who were willing to participate and be

interviewed.
 25

3.4 Data and Their Sources

The researchers gathered data from two sources namely primary and secondary. The

primary data was gathered from the Grade 12 ABM students that are currently studying at

the University of the East-Caloocan through questionnaires sent to them. This helped the

researchers know certain details about the participants answer in the questionnaire.

Secondary data was then derived from journals, articles, existing documents, and previous

studies that are examined by the researchers and are related to their study.

3.5 Research Instruments

In the study, the researchers would likely use the questionnaire as a research instrument.

As the researchers know, the questionnaire is a predefined set of questions, assembled in

a pre-determined order. Questionnaires are handy when researchers are trying to collect

information from large numbers of people. The method that we used in reaching the

target respondents is through an interview, our target respondents are grade 12 ABM

students. We have ten (10) participants, five (5) girls, and five (5) boys, there would be 5

questions in total and the total of respondents are ten (10) at the University of the East
 26

Caloocan. In conducting the study, researchers must be careful in collecting or gathering

information, thoughts, and opinions from the respondents. The research instrument was

administered to measure students’ knowledge and understanding of various concepts that

are inclined toward analytical knowledge. Conducting the interview

3.6 Date Collection Procedure

The researchers gathered demographic data about the participants with their consent. They

started in a single group. While conducting the interviews, the researchers were conscious

of the current context of platforms for interactive online use that allow for informed

consent, anonymity, and confidentiality involving the volunteers and the research

participants. In the following period, interview recording was allowed. To collect data more

quickly for some people, the interview subjects received sincere gratitude from the

researchers after the interviews; the researchers valued the participants' work and time. In

addition, the type of interview that the researchers would conduct would be a personal

interview. Following that, the researchers used the data and began the analysis when they

got there.

3.6 Date Analysis Procedure

The researcher conducted a qualitative research study to determine the preferred mode of

payment among accounting, business, and management grade 12 students. To gather data,

the following procedure was implemented: The researchers had to use thematic analysis to

build themes by conducting interviews and writing down data, assessing the participants'
 27

video or audio recordings to better understand their experiences, and completing the

records by converting and analyzing the knowledge obtained word for word. Because

effective analysis requires rigorous preparation and processing, the study followed the

aforementioned data-gathering methodologies.

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