THE ELECTRONIC PAYMENT SYSTEM OF PROTEA HOTEL BLANTYRE RYALLS

By:

Wycliffe B. Mvula

BCOM-ACC/19/02/003
Financial Studies

Submitting to:
Mr. H. Bowa

In Partial Fulfilment of the Requirement

E-Business
Course code: CCC 3013

Project Paper

Malawi Assemblies of God University

Lilongwe Campus

29th May, 2021

 Plagiarism Declaration
I, Wycliffe Bryan Mvula declare that the work done in this project is of my own, however,
citations and references have been properly presented for other people’s work I have used in this
paper.

Date: 15th, May 2021

Table of Contents
INTRODUCTION...........................................................................................................................2
ABOUT BLANTYRE RYALLS HOTEL.......................................................................................3
Types of electronic money.........................................................................................................3
Hard electronic money.............................................................................................................3
Soft electronic money...............................................................................................................4
THE ELECTRONIC PAYMENT SYSTEM USED BY BLANTYRE RYALLS HOTEL............4
Credit Cards.............................................................................................................................5
Debit Cards..............................................................................................................................6
Automated Teller Machine (ATM)...........................................................................................7
Electronic Cheque/Online Cheque...........................................................................................7
Electronic wallet (E-Wallet).....................................................................................................8
Electronic funds transfer..........................................................................................................9
THE BENEFITS OF USING ELECTRONIC PAYMENT SYSTEM AT RYALLS HOTELS....9
Save Time...............................................................................................................................10
Cost Savings...........................................................................................................................10
Security...................................................................................................................................10
New Market Access................................................................................................................11
It offers RYALLS Hotel a competitive advantage, especially in this time of COVID.............11
Transparency..........................................................................................................................12
Access to wide Market since Electronic payment is very convenient for the consumer.........12
Lower Operational Costs.......................................................................................................13
THE DISADVANTAGES OF USING ELECTRONIC PAYMENT SYSTEM AT....................13
Technical integration.............................................................................................................14
The need for a certain infrastructure:....................................................................................14
Technical problems................................................................................................................14
Online scams..........................................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..........................................................................................................................................16
 INTRODUCTION
The term electronic payment can be referred narrowly to e-commerce- a payment for
buying and selling goods and services offered through the internet, or broadly to any type of
electronic funds transfer. Ayodele (2007) defined e-payment as electronic transfer of cash via
online transactions for business-to-business (B2B), business-to-consumer (B2C), person-to-
person (P2P), and most recently administration-to-consumer (A2C) purposes. A2C payment
addresses the payment of taxes toward the government. An electronic payment system refers to
cash and associated transactions that are implemented using electronic means (Humphrey et. al,
2001). The use of the internet and digital stored value systems are typical in this regard, thereby
allowing bill payments or debit transfers done directly from the bank.

ABOUT BLANTYRE RYALLS HOTEL

The original Ryalls Hotel in Blantyre (Malawi), which was built in 1922 by Louisa Ryall,
is the longest established hotel in Malawi. Made famous by its reputation to be ‘an obligatory
stop for travelers from Cape to Cairo’, this hotel is entering a new era of revival. The Protea
Hotel Ryalls, which has been built adjacent to the existing Ryalls Hotel, is a US$ 4.5 million
project, which began just over a year ago (Protea, 2011).

Louisa Ryall, whose husband worked for the Nyasaland Volunteer Reserve as builder and
contractor, responded to an advertisement appearing in the Nyasaland Times in 1919 requesting
the need for hotel accommodation in Nyasaland. Louisa had already established the Limbe Hotel
in 1914. Ryall converted one of the buildings that used to be a concentration camp during the
First World War as the first premise for a hotel in Blantyre. The building later became Nash’s
Hotel, a family business owned by Mr. Nash. After the death of her husband, Francis Ryall, she
married the manager of her Limbe Hotel, John Stratton. They built a new establishment, Ryall’s
Blantyre Hotel, which opened in 1922. The business is now known as Protea Hotel Blantyre
Ryalls. It is the longest established hotel in Malawi.

Although the Malawi hotel industry is largely under local control there has been some
interest from foreign investors over the past few years. First, the old Ryalls Hotel in Limbe has
become part of the Protea Group, South Africa’s largest hotel enterprise (Protea, 2011). The
opening of new hotels in Blantyre has increased competition and strategies are in place to ensure
that they maintain their market share through continued provision of quality service. They are
also cognizant of the impact the closure of the main runway at Chileka International Airport can
have on the business and robust mitigating measures are being implemented. The overwhelming
majority of hotel bookings today are made electronically but there remain a small number of
non-electronic bookings.

Types of electronic money

There are two types of electronic currency: hard electronic currency and soft electronic
currency.

Hard electronic money

This type of electronic money does not allow cancellation of fees, meaning only
irreversible transactions are supported. Hard electronic money is when e-money is used for
irreversible transactions, ones that are highly securitized, and are more or less procedural in
nature. They may include transactions that are drawn through a bank. The advantage of this type
is that the operating costs of the electronic currency system are reduced (Sheppard. 2009).

Soft electronic money

Soft electronic money is when e-money is used for reversible or flexible transactions.
There is an increased level of flexibility offered, and users are allowed to manage their
transactions even after payment is processed, like canceling a transaction or modifying the
payment price, etc. The soft electronic money enables payments to be canceled. Payment will
only be canceled in the event of a dispute or fraud. The reversible payment time is 72 hours or
more. Some examples of this type are Credit Card and Pay Pal (Pierce, 2001). Electronic money
systems evolve every day. Some of the developments are: It can be used with secured credit
cards for a variety of establishments, and the linked bank accounts can be used with the internet
to exchange money with a secure micropayment system such as Pay Pal.

THE ELECTRONIC PAYMENT SYSTEM USED BY BLANTYRE RYALLS HOTEL

An electronic payment system is a way of handling or paying for goods and services
through an electronic medium without the use of checks or cash. Also known as an electronic
payment system or online payment system. The electronic payment system has grown more and
more in recent decades due to the increasing spread of internet banking and shopping. As the
world continues to advance as technology advances, we can watch the rise of electronic payment
systems and payment processing devices. As these grow, improve, and increasingly provide
secure online payments, the percentage of check and cash transactions will decrease (Biago &
Massimo.2001)

Blantyre Ryalls Hotel has implemented the Electronic payment system to help individual
customers, the Hotel itself as well as the banks in eliminating or reducing some of the problems
inherent in the settlement and payment process. Customers can pay their bills without having to
actually move to the bank’s premises. E-payment system is increasingly becoming a daring
means of payments in today’s business world. This is due to its efficiency, convenience and
timeliness. It is a payment system that is continuously being embraced and adopted in companies
of both developed and developing countries with a view to simplify and ease payments in
business transactions. This paper will discuss some of the electronic payment system Blantyre
Ryalls Hotel has adopted and the challenges faced when using electronic payment system.

Credit Cards
This is a plastic card that assures a seller that the person using it has a satisfactory credit
rating and that the issuer will see to it that the seller receives payment for the goods or items
delivered. This represents the automated capture of data about purchases against a revolving
credit account, (Pierce, 2001). Credit cards are by far the most popular mode of electronic
payment in Blantyre Ryalls Hotel as well as the whole world. Credit cards are issued based on
the customer's income level, credit history, and total wealth. The customer uses these cards to
buy goods and services or get cash from the participating financial institutions. The customer is
supposed to pay his or her debts during the payment period; otherwise interest will accumulate.
Two limitations of credit cards are their unsuitability for very small or very large payments. It is
not cost-justified to use a credit card for small payments. Also, due to security issues, these cards
have a limit and cannot be used for excessively large transactions. In the beginning, security
concerns hampered their adoption but gained customer trust later when security features were
provided for each transaction.

Credit card applicability is one of the strongest factors which contribute to its extensive
use all over the world. However, it is not considered feasible for making small payments such as
booking a small room for one night, but rather booking of suite rooms since they require huge
fees. The most important advantage of credit cards is the ease-of-use they provide in performing
transactions online from any part of the world and in no time. Moreover, they can be obtained
easily without the burden to possess any additional hardware or software for making them work.
The authentication of card-holder is simply provided using credit card number, a name and
expiry date. In order for the Hotel to keep personal information of users secure, complementary
systems, like Verified by Visa and MasterCard, Secure Code have been developed by credit card
companies. Moreover, this payment mode offers users with the provision of password creation
which they use for shopping online via credit cards (Turban, King,Lee & Chung. 2002).

Credit cards provide cardholders with a credit facility and the possibility of delaying payment.
The size and duration of the credit facility are the subject of an agreement between the
cardholder and the card issuer. Generally, when the credit facility is used, the outstanding
amount can be either (i) settled in full by the end of a specified period, or (ii) settled in part, with
the remaining balance extended as credit and subject to interest payments.

Debit Cards
These were a new form of value-transfer, where the card holder after keying of a PIN,
uses a terminal and network to authorize the transfer of value from their account to that of a
merchant. Introduced more recently, debit together with credit cards represent the most rapidly
growing method of payments in several OECD countries. (Pierce, 2001) When a payment is
made through a debit card, the funds are immediately withdrawn from the purchaser's bank
account.

The advantage is that the buyer has the funds to make the purchase and paid for right
away, so there's no credit card shock when the statement arrives in the mail Debit cards task
similar to checks in that the charges will be taken from the customer's checking account. The
benefit for the customer is the easiness of use and convenience. These cards also keep the
customer under his or her budget because they do not allow the customer to go beyond his or her
resources. The advantage to the merchant is the speed at which the merchant collects these
charges.
 Debit cards are gaining popularity with each passing day and have become the most
popular cashless payment methods all over the world. As compared to credit cards, the payments
made via debit cards are withdrawn from the consumer’s personal bank account and not from
any intermediary account. So, users fail to have an additional security in their debit accounts
thereby troubling them while handling payment disputes. However, only the account number is
required for making debit payments with no need to produce a card number or a physical card.
Although debit cards have a huge user base in several countries but they are not widely used on
merchant websites due to their failure to satisfy international customers. The costs incurred by
the usage of debit cards are lower as compared to credit cards which makes them feasible for
micropayments. Furthermore, they have a higher level of security than credit cards due to the
requirement of extensive identifications demanded by banks (Lowry & Wells.2006).

The difference between credit cards and debit cards is that in order to pay with a debit
card you need to know your personal identification number (PIN) and need a hardware device
that is able to read the information that is stored in the magnetic strip on the back.

Automated Teller Machine (ATM)

Mostly located outside of banks, it can also be found at airports, shopping malls, and
places far away from the home bank offices, and offering several retail banking services to
customers. ATM is a combined computer terminal, with cash vault and record-keeping system in
one unit, permitting customers to enter the bank’s book keeping system with a plastic card
containing a Personal Identification Number (PIN). It can also be accessed by punching a special
code number into the computer terminal linked to the bank’s computerized records.

According to the Tyree (1998) most ATM transactions in the whole world result from
withdrawals by consumers. The association points out that these withdrawals are technically part
of the traditional cash system, until consumers use ATMs to withdraw cash from an ATM which
is not operated by their financial institution. This is because cross-institutional clearing and
settling is required to finalize withdrawals from another institutions ATM using the interbank
clearing mechanisms described above. There is currently an estimated 11,915 ATMs in Australia
in 2001 from 4,073 in 1989. Monthly ATM transaction volumes have increased by about 8
million in 2000 since 1994 (from 40.7 million), with the value of these monthly transactions
reaching $9.4 billion in 2001 compared to $4.4 billion in 1994. The current use of ATMs could
change in the future to offer additional services than just withdrawals, deposits, account transfers
and bank balance checks.

Electronic Cheque/Online Cheque

Electronic cheques are used in the same way as paper cheque, the clearing between payer
and payee is based on existing and well known banking settlement system. The only difference
between paper and electronic cheques are the dematerialization of the payment instrument which
is passed on via computer networks like Internet in the later technology. E-Check proposed by
Financial Services Technology Consortium (FSTC) is an example of the electronic cheque.
Electronic cheques also known as e-cheques are virtual cheques that allow consumers to use
Internet in making cheque payments. The buyer fills out a form (that looks like a cheque on the
screen) with the necessary information, and then clicks the "send" button. The information then
goes through a computer or a transaction service, depending on which way one chooses to accept
check payments (Humphrey & Vale. 2001).

This is the easiest way of foreign customers to book their room on internet. Customers
can access their bank accounts and make transfers through a web site provided by the bank and
complying with some rigorous security checks. This is the means by which customers transact
business with a bank through the use of the Internet network. The Internet is able to offer
instantaneous settlement of transactions and the prospect of a highly cost effective payment
system for low value transactions. The Internet has the potential to reach majority of customers
since it can disseminate "advertising material" through World Wide Web home pages and
product databases.

Electronic wallet (E-Wallet)

Electronic wallets being very useful for frequent online shoppers are commercially
available for pocket, palm-sized, handheld, and desktop PCs. They offer a secure, convenient,
and portable tool for online shopping. They store personal and financial information such as
credit cards, passwords, PINs, and much more. To facilitate the credit-card order process, many
companies are introducing electronic wallet services. E-wallets allow you to keep track of your
billing and shipping information so that it can be entered with one click at participating
merchants' sites. E-wallets can also store e-checks, e-cash and your credit-card information for
multiple cards. A popular example of an e-wallet on the market is Microsoft Wallet. To obtain E-
Wallet, one needs to set up a Microsoft Passport. After establishing a Passport, a Microsoft E
wallet can be established. Then, e-wallets can be used for micro-payments. They also eliminate
reentering personal information on the forms, resulting in higher speed and efficiency for online
shoppers. Microsoft Passport consists of several services including the following; a single sign-
in, wallet and kids passport services. A single sign-in service allows the customer to use a single
name and password at a growing number of participating e-commerce sites. The shopper can use
to make fast online purchases with a wallet service (Schneider & Perry.2000).

There are two categories of e/wallet, these are; (i) E-wallets that store card numbers and
cash. It operates like having a virtual savings account where charges are made for ongoing
purchases, particularly micropayments. This category of a digital wallet is where consumers
store digital cash, which has been transferred from a credit card, debit card or virtual cheque
inside their e-wallets (ii) E-wallets that store card numbers. This is a virtual wallet that can store
credit card and debit card information. Other information that can be stored on this card is
passwords, membership cards, and health information. Some of the e-wallets make it easier for
consumers to buy goods using the card.

Electronic funds transfer

Electronic Funds Transfer (EFT) is the transfer of funds from one bank account to
another bank account automatically, where different banks often operate the bank accounts.
EFTs are carried out based on payment instructions (which include the account from which
payment should be made and the account details of the payee) provided by the payer to their
financial institution. The clearing systems described in the previous section ensure that payments
between the payer and the payee institutions can be settled successfully. EFT can be used for
business-to-business payments, as well as by businesses to receive payments from many
customers. The latter includes loan repayments, utility bill payments, tax payments, inter-account
transfers, etc. (Tyree 1998). We are also seeing the introduction by many banks (through Internet
banking) of anyone-to-anyone payments, where an individual can pay other persons when given
the bank account details of that person.

THE BENEFITS OF USING ELECTRONIC PAYMENT SYSTEM AT RYALLS HOTELS

Electronic payments system have a significant number of benefits to RYALLS Hotel
apart from their convenience and safety. These benefits when maximized can go a long way in
expanding the Hotel as well as contributing immensely to economic development of a nation of
Malawi. Advances in communication technology and network capacities have enabled
innovative new ways to make payments through mobile devices, smart cards, and other
electronic methods. The transition from cash to electronic payments has potentially significant
benefits for all groups involved. The following are the benefits the RYALLS Hotels enjoys for
using Electronic Payments System (Lowry & Wells.2006).

Save Time
E-payment helps RYALLS Hotel to save time over cash transactions and cash
management costs like employee cost, cash monitoring cost, and guarding cash cost. Moreover,
e-payment is the most powerful weapon against corruption, deforestation, and illiterate person

Cost Savings.
Electronic payments can thus lower transaction costs stimulate higher consumption and
GDP, increase government efficiency boost financial intermediation and improve financial
transparency”. They further added that “Governments play a critically important role in creating
an environment in which these benefits can be achieved in a way consistent with their own
economic development plans”. Decreasing the costs associated with physical cash operations
often reduces costs to payees, especially those that send money home to their distant families,
small businesses that must use valuable time in traffic and in line to cash checks at their banks,
and remote beneficiaries that have few check cashing options (Tyree. 1998).
 Actually, the RYALLS Hotel when they are using EPS They are no extra costs incurred
since they do not have to worry about any additional fees when you start accepting contactless
payments if you already accept chip and PIN. They simply pay the same as you would for
regular card transactions. There are plenty of packages out there to cater for businesses of all
sizes, budgets, and transaction volumes.

Security.
Safer delivery of payments, especially for women and for those that must carry cash in
dangerous inner-cities or poorly policed remote areas. When their customer pays with
contactless, the card or smart device doesn’t leave their hand. This minimizes the risk of fraud or
user error on the part of your staff. And the technology used for contactless is also more secure
than other forms of payment. This security also applies to their customers in sense that customers
do not need to carry large amounts of cash around with them. This makes them feel safer and
more confident shoppers, knowing that the impact of theft or loss can be prevented by quickly
blocking their cards or mobile wallet (Schneider & Perry.2000).

In simple words, the use of electronic money brings a greater sense of security. To
prevent the loss of personal information during online transactions, advanced security measures
such as authentication and tokenization are implemented. Strict verification measures are also
applied to ensure the full authenticity of the transaction

New Market Access.

Opening doors for fee-for-service business models to previously unserved areas due to
high transaction costs accelerates and enables entrepreneurialism and business growth of all
economic participants in a society, especially small, low capital startups so necessary to the vigor
and resilience of emerging economies. Possibly the biggest appeal to accepting online payments
is that a business can open up shop to the whole world. As a merchant selling online, your
offering is available to much more than just your own nationals , about 56% of online shoppers
favor shopping cross-border and therefore one of the main advantages of digital payments is
being able to expand your sales reach to these global, eager audiences (Sheppard. 2009).
It offers RYALLS Hotel a competitive advantage, especially in this time of COVID

Governments across the world are encouraging their citizens to use contactless in the face
of COVID-19. To that end, consumers will soon come to expect contactless payment as the
norm. In this way, the Hotel still operates despite the covid-19. Therefore, COVID could not
interfere the Hotel from achieving its objectives.

Particularly with the ongoing COVID-19 pandemic, people don’t want to have to be
handling cash or touching credit card payment terminals if they don’t have to. This extends to the
world of B2B and accounts payable as well, where workers can benefit just as much from
opportunities for efficient but remote payments. In normal times, mobile payment is also great
for enabling on-the-go personnel to get their workers paid from wherever they might be in the
world. They don’t need to be at their work desk or even in front of a regular computer. So long
as they’re in front of a phone, money transaction can happen.

Since the spread of COVID-19, many shops have either banned cash payments or
strongly encouraged e-payment. It is suggested that the virus can live on paper money and coins
for up to two days and is a source of possible virus transmission. Paying by card reduces the risk
of transmission through this method. Therefore, RYALLS for implementing EPS may have
competitive advantages over other hotels that do not use EPS.

Transparency.
When cardholders use their cards at the point of sale they are helping to keep money in
the banking system. EPS can help displace shadow economies, bring hidden transactions into the
banking system and increase transparency, confidence and participation in the financial system.
Worku (2010) observed that there is a correlation between increase in point of sales volumes and
rise in demand deposits. “Automated electronic payments act as a gateway into the banking
sector and as a powerful engine for growth. Such payments draw cash out of circulation and into
the bank accounts, providing low cost funds that can be used to support bank lending for
investment- a driver of overall economic activity. The process creates greater transparency and
accountability, leading to greater efficiency and better economic performance. Increased
accountability and tracking of financial flows helps small local organizations better track their
cash flows and demonstrate financial responsibility to potential customers and donors.

Access to wide Market since Electronic payment is very convenient for the consumer.
In most cases, you only need to enter your account information- such as your credit card
number and shipping address- once. The information is then stored in a database on the retailer’s
web server. When you come back to the website, you just log in with your username and
password. “Completing a transaction is as simple as clicking your mouse: All you have to do is
confirm your purchase and you are done.” Worku (2010) emphasized the fact that electronic
payment lowers costs for businesses. The more payments that is processed electronically, the less
money is spent on paper and postage. Offering electronic payment can also help businesses
improve customer retention. A customer is more likely to return to the e-commerce site where
his or her information has already been entered and stored.

EPS Increases the Customer base of RYALLS Hotel. Indeed nowadays, the merchants
can gather personal information such as date of birth, favorite items, and many more from the
customers with the help of advanced payment terminals. So, depending upon this information,
merchants can make their own business strategies in order to increase the customer base.

Lower Operational Costs

Modern payment systems are always seeking ways to lower your operational costs. Another
benefit that RYALLS Hotel can enjoy to integrated payments and advanced terminal
management is the system’s ability to communicate seamlessly with multiple payment devices
and work stations at once. Shared payment device management allows the cashier to push a
transaction from any workstation to a shared payment device (Agba. 2010). By sharing devices
across multiple workstations, merchants can effectively save hundreds of dollars on the cost of
purchasing new terminals.
 THE DISADVANTAGES OF USING ELECTRONIC PAYMENT SYSTEM AT
RYALLS HOTELS

Whether credit card, debit card or any e-payment system, electronic transactions are now
a permanent part of the Ryalls operations and economy. Although each type of transaction offers
benefits over traditional cash and check transactions to the Hotel, each type also has its share of
disadvantages. Every new and secure method of payment attracts a criminal element seeking to
exploit weaknesses or to develop new methods of perpetrating fraud. Not only are there
drawbacks because of malfeasance, but sometimes, the limits to an electronic transaction method
can also hamper the user experience. The following are the challenges that the Ryalls Hotel faces
when using electronic payment system.

Technical integration
Online payment systems run the proprietary gamut across hardware and software
platforms. Credit card-affiliated payment processors, while more secure, can be expensive for
online retailers. Added to the expense is the lack of interface between processing systems—it
may be difficult or impossible for a PSP to link with other systems, resulting in processing and
payment delays, lost transactions, and expensive fees (Agba. 2010)

In true real-time processing, a combination of features, including integrated systems and

gateways, addresses liquidity issues and minimizes delays, while preserving online transaction
integrity. A payment processor that provides for immediate and individually processed
transactions can open client accounts in more than one acquiring bank, thus avoiding the delays
often inherent in automated clearinghouse processes (Agba. 2010).

The need for a certain infrastructure:

In order to use electronic money, the availability of a certain infrastructure is necessary. It
includes a computer or laptop or smartphone and a stable internet connection. Even though the
transactions can be done without visiting the Ryalls hotel reception, still more there is a need to
have a special office or department where engineers and technician can work to help the
customers

Technical problems
Like any system that depends on technical infrastructure, online payments themselves
may be subject to disturbances and downtime. Tech maintenance operations performed on online
payment gateways or in the card network system are usually limited in time, announced in
advance, and scheduled for periods when e-Shops do not have a lot of traffic, often during the
night. Unforeseen technical issues can also generate several hours of downtime, which may
cause some frustration among shoppers who aren’t able to pay directly. These can, however, be
moderated through the right communication and support approaches directly on their site (Pierce,
2001).

Online scams
Online scamming is also possible. All it takes for a scammer is to pretend to be from a
certain organization or a bank, and consumers are easily convinced to give away their bank/card
details. Despite the increased security and presence of authentication measures to counter online
scams, they are still something to be looked after. The internet always comes with the
inevitability of possible security breaches and hacks. A hack can leak sensitive personal
information and can lead to fraud and money laundering (Ayodele. 2007).

CONCLUSION
An e-payment system is a way of making transactions or paying for goods and services
through an electronic medium, without the use of checks or cash. It’s also called an electronic
payment system or online payment system. Read on to learn more. The electronic payment
system has grown increasingly over the last decades due to the growing spread of internet-based
banking and shopping. As the world advances more with technology development, we can see
the rise of electronic payment systems and payment processing devices. As these increase,
improve, and provide ever more secure online payment transactions the percentage of check and
cash transactions will decrease. One of the most popular payment forms online are credit and
debit cards. Blantyre Ryalls Hotel has implemented the Electronic payment system to help
individual customers, the Hotel itself as well as the banks in eliminating or reducing some of the
problems inherent in the settlement and payment process. Customers can pay their bills without
having to actually move to the bank’s premises. This paper has explain the EPS methods used in
RYALLS hotel, the paper has also describe the benefits and challenges RYALLs experience for
using Electronic payment system.

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