A SURVEY ON PERCEPTION OF E-WALLETS USAGE

IN PARTIAL FULFILLMENT OF THE

REQUIREMENTS FOR THE JEDB201 COURSE
ADVANCED TECHNICAL WRITING AND BUSINESS COMMUNICATION
MASTER IN BUSINESS ADMINISTRATION
ATENEO DE NAGA UNIVERSITY
GRADUATE SCHOOL

Submitted by:

CLAUDINE A. RECONCILLO

Submitted to:

DR. DIGNA P. ALBA

Dean, College of Humanities and Social Sciences (CHSS)

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 Abstract

Information technology has changed the face of the world. The digital revolution and

continuous technological advancement make easy for people to transact in their daily lives. Growth

in non-cash transactions has increased rapidly throughout the world. Supported by Internet

network facilities and more Internet users bring up an opportunity in the financial service business

that is digital payment. Digital payment is a method of payment that uses electronic instruments.

The main objective of the survey is to determine the perception of E-wallets usage. Also

to identify the most widely used digital wallets. The sample used comprises of thirty respondents

from different sector. In this survey adopts a qualitative research method that is a research method,

which is based on subjective data that is subjectively or objectively accurate from various views

about Electronic wallet or as well as observing the perception of its usage. Data was obtained from

a survey questionnaire by the use of google form and carefully analyze

The survey show that the participants from the sample are well-aware of e-wallet systems

and use such systems for different transactions such as money transfer, online shopping and

payments as well as savings purposes. The respondents experienced problems while using these

systems mainly security of mobile payments, encourage reckless spending and involve danger of

losing their money. Also, from the survey it is seen that Gcash is the most widely used digital

wallet. The survey found that this new technology which is E-wallet is getting adopted slowly and

will continue to use this service in the future.

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 Table of Content

Title Page...................................................................................................................................1

Abstract .....................................................................................................................................2

Table of Contents .....................................................................................................................3

Introduction ..............................................................................................................................4

Objectives ..................................................................................................................................5

Delimitation...............................................................................................................................5

Review of Related Literature .............................................................................................. 5-6

Significance of the Study ..........................................................................................................7

Conceptual Framework ...........................................................................................................7

Methodology .............................................................................................................................8

Data Analysis and Interpretation ..................................................................................... 8-14

Results and Conclusions ........................................................................................................15

Recommendations ..................................................................................................................15

References ...............................................................................................................................16

Appendix ........................................................................................................................... 17-21

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Introduction

Nowadays, information technology has changed the face of the world. The digital

revolution and continuous technological advancement make easy for people to transact in their

daily lives. Growth in non-cash transactions has increased rapidly throughout the world. Supported

by Internet network facilities and more Internet users bring up an opportunity in the financial

service business that is digital payment. Digital payment is a method of payment that uses

electronic instruments.

According to Investopedia A digital wallet (or electronic wallet) is a financial transaction

application that runs on mobile devices. It securely stores your payment information and

passwords. These applications allow you to pay when you're shopping using your device so that

you don't need to carry your cards around. You enter and store your credit card, debit card, or

bank account information and can then use your device to pay for purchases.

Digital wallets allow people in financially underserved parts of the world to access

financial services they may not have been able to before. It is designed to take advantage of the

abilities of mobile devices to improve access to financial products and services. It eliminates the

need to carry a physical wallet by storing all of a consumer's payment information securely and

compactly. Money or Fund is still accessible in just click of a button. It is a new trend for

consumers to use an e-wallet application to replace the traditional payment method. With E-wallet,

a user does not need to bring cash or a credit card along with them. It enables users to make

purchases in a more convenient way.

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Objectives

The purpose of this survey is to explore preference and perception on the usage of e-wallets

in daily life and to recognize the most widely used e-wallet services.

Delimitation

This study focuses mainly on the perception of E-wallets usage. It is conducted on a sample

of thirty respondents from different sectors who has a digital wallet account. This sample shall be

taken as representation of the whole. Moreover, the study was confined to in the area of Partido

District, therefore the results may not be applied to in other parts of the country.

Related Literature

E-wallet is a new market trend which has been widely used by everyone. It brings many

benefits to users as it offers quite a number of services. Therefore, it is important for researchers

to know users’ intention in using e-wallet so that e-wallet platform developers can improve to

serve users better. In fact, the Philippines made one of the highest digital payment transactions in

Southeast Asia in 2022, next to Indonesia and Thailand. (Statista, 2022)

According to a study of Soegoto and Tampubolon (2020) that quite several people were

able to understand the use of E-Wallet and began using it in their daily trading activities. E-Wallet

is commonly used by those who are in their productive age. High usability is one of the back

screens that makes E-Wallet increasingly in demand by many people. With so many promos and

offers, many people are switching from doing transactions using cash payments to E-Wallet.

(Wulantika and Zein, 2020)

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 Factors like trust and self-efficacy may not find significant influence on behavioral

intentions as this generation has understood and adapted to the digital world well enough to negate

the factors like lack of trust and inability to perform digital transactions. (Trivedi, 2016). In a

country where cash remains a king like the Philippines, digital platforms for payments will find it

challenging to be widely used in transactions. According to Evardome, Cabrera and Villanueva

(2021) majority of Filipinos still opt for physical channels in making payments or engaging in

financial transactions as it is understandable that digital payments is prone to fraud and theft. Nag

and Gilitwala (2019) investigated the influence of various factors on intention to use eWallets, in

Bangkok, Thailand. They studied five factors: “perceived usefulness, perceived ease of use,

security/privacy confidence, social influence and trustworthiness.”

Mobile payment transaction also holds risk and uncertain possibility (Bagla &

Sancheti, 2018; Leong et al., 2020) as it might be associated with certain criminal activities

including theft, account take over, fraudulent transactions, and data breaches (Marria, 2018).

Although e- wallets still have some disadvantages in terms of interoperability and standardization

of security and formats but still e-wallet is the best to use mobile application (Pachpande and

Kamble, 2018)

Rise of internet usage and mobile applications urged many people to use digital wallet

though security concern is one of the hindrances why there are still people are doubt and not sure

to use e wallets services. Thus, there are barriers for e-wallet adoptions

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Significance of the study

The result of this study will be beneficial to the following;

Individuals: E wallets brings many benefits to users as it offers quite a number of services

like buying and selling, also can be used as a medium of payment for all the needs such as but not

limited to payment for electricity, the internet, and others. From this study, individuals can have

more knowledge in using e wallets including the rise of promos and discounts when making

payments.

Government Financial Institutions: It can employ the findings of this study to further

promote the adoption and use of e-wallets in the country to bridge the gaps in the economy as a

whole as well as expansion of digital payments.

Future Researchers: The research study will add to the field of knowledge and formulate

additional theory to either fill the research gaps or as a guide and part of their related studies if

ever they will study the same but in perspectives The conclusions will also bridge the knowledge

gap that exists in the Finance field on digital payments.

Conceptual Framework

 Perceive Usage E-Wallet

 Widely Used

The survey aims to determine the perception on e-wallets usage and the most widely use digital

wallet.

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Methodology

In this survey adopts a qualitative research method that is a research method, which is based

on subjective data that is subjectively or objectively accurate from various views about Electronic

wallet or as well as observing the perception of its usage.

The survey was created using google form and shared in different social media platforms

so participation in this survey is voluntary. A total of 30 respondents from online users were

collected. The questionnaire was designed to obtain demographic profile of the respondents and

their preferences on e-wallets. The data collected for this study was analyzed and tested for

completeness. This was done to ensure that the data was adequately reflective, accurate and reliable

for conclusion and for realization of the research objective of the study.

Data Analysis and Interpretation

This part of the survey presents the results of the study. It interprets and analyses the data.

The data are organized in terms of the research objectives. The presentation of the data is done in

form of narrative discussion where the interpretation of data is described and then analyzed

followed by the discussions.

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Demographics of Respondents

Gender

The research comprises of 30 respondents, 70% are female and 30% are male. The data

implies that there are more female who responded on the survey. The gender considerations in the

survey ensure that results are apply to everyone as shown on Table 1.

Table 1 Gender

Civil Status

Among the total respondents, 96.7% are single, 3.3% are married and the others are living in. The

data implies that most of the students are single thus belong to young adult age group.

Table 2 Civil status

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Age

Table 3 indicates that the bulk of respondents are from 18-24 years of age, 36.7% are 25-

34 years old, this data indicates that the younger generation taking up the most part in response to

this questionnaire.

Table 3 Age Distribution

Employment Status

From Table 4, it is noted that most respondents are students. The percentage of having full-

time employment is 36.7%, 10% are having a part-time employment, and respondents being self-

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employed and unemployed have the same proportion. This data indicates that users of e-wallets

are mostly students.

Table 4 Employment Status

Data Analysis

Table 5 E-wallet Account

Table 6 E-wallet you have

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Table 7 Preferences on E-wallet

Table 8 Preferences of E-wallet as modes of payment

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Table 9 Awareness n Functionality of E-wallet

Table 10 Purpose of using E-wallets

Table 11 Difficulties in using E-wallets

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 Table 12 Availability of E-wallets

Table 5 shows that out of 30 respondents, 86.7% has an e-wallet account and 13.3% does

not have. This data implies that most of the respondents have an e-wallet account which is G-

cash obtaining 90% as shown in Table 6, and respondents prefered to use Gcash most of the time

as shown in Table 7 obtaining 86.7%. Table 8 shows that most people use E-wallet as modes of

payment as it is time saving obtaining 60% result in the survey. Other reasons such as ease of use

obtaining 23.3% and wide range of uses obtaining 13.3% in the survey.

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Results and Discussion

This part presents the summary of findings together with the conclusions and

corresponding recommendations.

It is observed that most people have an E-wallet account that they most preferred to use as

mode of payment. From the survey, it is seen that Gcash is the most widely used digital wallet. In

2020, GCash had a 49.4 percent share of the total mobile wallet applications market. In

comparison, PayMaya accounted for a market share of nearly 42 percent. (Statista, 2020). The

results from the data gathered show that the participants from the sample are well-aware of e-

wallet systems and use such systems for different transactions such as money transfer, online

shopping and payments as well as savings purposes. The respondents experienced problems while

using these systems mainly security of mobile payments, encourage reckless spending and involve

danger of losing their money.

From the study, it is understood that the majority of respondents are satisfied with this

technology and availability of this should be widely. Therefore, from this survey, it can be

concluded that this new technology is getting adopted slowly and will continue to use this service

in the future.

Recommendation

As continued development of technology that made daily transactions of individual easy,

use of e-wallets should be widely available. Government should strengthen the internet connection

as it is important in the use E-wallets and to encourage people to use e-wallets. Also, government

should demonstrate and improve Financial literacy and awareness in the use of E-wallets by

educating Filipinos on how to use and the effects of E-wallets.

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References

Bagla, R. K., & Sancheti, V. (2018). Gaps in customer satisfaction with digital wallets: Challenge

for sustainability. Journal of Management Development, 37(6), 442–

451. https://doi.org/10.1108/JMD-04-2017-0144 [Crossref], [Web of Science ®], [Google

Scholar]

Marria, V. (2018). What a cashless society could mean for the future. Forbes. Retrieved April 5,

2020, from https://www.forbes.com/sites/vishalmarria/2018/12/21/what-a-cashless-society-

could-mean-for-the-future/#77c7528a3263 [Google Scholar]

Nag, K.A. and Gilitwala, B. (2019), “E-Wallet- factors affecting its intention to use”, International

Journal of Recent Technology and Engineering (IJRTE), Vol. 8 No. 4,

doi: 10.35940/ijrte.D6756.118419.

D S Soegoto and M P Tampubolon 2020 IOP Conf. Ser.: Mater. Sci. Eng. 879 012139

Statista Research Department. (2021). Mobile wallet transaction value Philippines

2020-2025. Retrieved from

https://www.statista.com/statistics/1258095/philippines-mobile-wallet-transaction-val

ue/

Ibrahim, Adnan & Hamda, Osama & Moreb, Mohammed. (2021). The Efficiency of Mobile E-

Wallet in Palestine – Case Study. 1-5. 10.1109/ICOTEN52080.2021.9493445.

Wulantika, L & Zein, S. (2020). E-Wallet Effects on Community Behavior. IOP Conference

Series: Materials Science and Engineering. 879. 012121. 10.1088/1757-899X/879/1/012121.

Statista Research Department. (2021). Most used e-wallets in the Philippines in 2021

Retrieved from https://www.statista.com/statistics/1283920/philippines-most-used-e-

wallets/

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 Appendix: Survey Questionnaire

Perception of E-Wallets Usage

Good day!
I am Claudine A. Reconcillo taking up Master in Business Administration at ADNU Graduate
School.
I am asking for your assistance in filling out this form about the perception of e-walletusage.
This survey is created and shared in compliance with the activity in JEDB201 course.Thank
you!

* Required

1. Name *

2. Email *

3. What is your gender ? *

Mark only one oval.

Male

Female

Prefer not to answer

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 4. What is your marital status? *

Mark only one oval.

Single

Married

Widowed

Divorced

Separated

Other:

5. What is your age range? *

Mark only one oval.

18-24 years old

25- 34 years old

35-44 years old

45-54 years old

6. What is your employment status? *

Mark only one oval.

Full-time employment

Part-time employment

Unemployed

Self-employed

Student

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 7. Do you have an E-wallet account? *

Mark only one oval.

Ye

No

8. Which E-wallet do you have? *

Mark only one oval.

GCash

Maya

Coins.ph

GrabPay

Paypal

ShopeePay

Lazada Wallet

Dragonpay

7-11 CLIQQ Pay

BPI Direct Banko

Other:

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9. Which e-wallet do you prefer most of the time? *

Mark only one oval.

GCash

Maya

Coins.ph

GrabPay

Paypal

Shopeepay

Lazada Wallet

Dragonpay

7-11 Cliqq Pay

BPI Direct Banko

Other:

10. Why do you prefer e-wallet over other modes of payment? *

Mark only one oval.

Time-saving

Ease of use

Privacy and Security

Discounts and offers

Wide range of uses

Other:

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11. Are you aware regarding the functionality of e-wallets? *

Mark only one oval.

Fully aware

Partially aware

Not aware

12. What are your purpose of using e-wallets? *

Mark only one oval.

Money Transfer

Utilities and Bills Payment Savings

Shopping

Other:

13. What are the obstacles you face while using e-wallets? *

Mark only one oval.

Security of mobile payment

Involves danger of losing money

Encourage reckless spending

Exposure to fraud

Other

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