What is your study about?

The World Health Organization (WHO) identified the Coronavirus Disease (COVID-19) as a
"pandemic"(Executive order no. 64, series of 2020). This pandemic pertains to the threat of
health/life of individuals and thus global lockdown was implemented which includes avoiding
physical contact (Chung et al., 2021). The fundamental measures whereby governments,
businesses, and consumers were advised to undertake contactless transactions especially that
people try to go away with cash as it poses an imminent threat of getting exposed to the virus.
Cashless Payment Method is the system of exchanging financial transactions without the actual
use of physical cash like bills and coins. It’s vital to every business so as to still continue the
operation amidst the pandemic situation especially when it was a threat of them losing customers
such as restaurants and foods services that requires proper action of sanitizing products for the
safety of customers’ health. As a neighborhood of a cashless society, Micro, Small and Medium
sized Enterprises (MSMEs) within each border such regions, cities, and provinces' restaurants
and food services are set to face an extreme difficulty within the operation just like the ease of
doing business and thus the adaptability of the situation. Like having the continuity of the
business operation amidst the threat to the public health security, MSMEs especially restaurants
and food services within Cebu City were better to have the cashless payment method.
Suggestion: pwede pud to magamit as intro ang naa sa script for topic hearing na file. Si Miss Z
pud naingon na nice to sya for intro

What do other authors say?

Ekta and Seghal (2021) define a cashless payment as a system of buying goods and
services without using physical currency. Several methods of cashless payment through digital
information technology are now being used instead of physical money. The terms digital
transaction, electronic transaction, paperless transaction, or cashless transaction also refer to
cashless payment. (Shree et al., 2021). Cashless payment methods include electronic wallets,
mobile wallets, cheques, credit and debit cards, online banking, gift certificates, and such. In this
digital century, the e-wallet as the preferred mode of online payment has surged into the
mainstream due to its perceived convenience and ease of use. (Yang et al., 2021) Through the
years, the Philippines has become one of the forefronts worldwide in developing mobile financial
services. At the beginning of the 2000s, the country's two leading mobile operators, Globe and
Smart, have developed mobile banking solutions. (Nair, 2016) These two are the respective
developers of Gcash and PayMaya, the top E-wallet applications in the Philippines.

The Philippine government put effort into being a cashless country. In fact, in 2015, the
government realized plans to transform the Philippines into a “cash lite” society in the next
twenty years. In line with this, Bangko Sentral ng Pilipinas (BSP) initiated the National Strategy
for Financial Inclusion (NSFI), emphasizing the significance of technology and innovations to
extend to the financially excluded. BSP strives to reach those financially excluded with this
strategy to be included in the financial inclusion. BSP intends adequate access to an array of
financial services to all as the definition of financial inclusion wherein micro, small, and medium
enterprises (MSMEs) are included to the potential of enhancing the well-being. Despite
considering the slow adoption of cashless payments and the profound support for cashless
payments, the Philippines remains dependent on cash and cheque. However, during the year
2020, when the pandemic arose, almost all people were forced to use cashless payments for
transactions. The national newspaper, Inquirer.net, released an official report by Lucas (2021)
that according to the head of the Central bank, the Philippine market shows an emergence of
electronic payment systems during the COVID-19 pandemic in the year 2020, which
counterparts a decline in physical cash transactions.

What is the GAP?

Suggestion: Pwede pud ibutang na most of the past studies focused on the adoption of cashless
payment by the consumers. Limited ra ang nag study on the perspective sa mga businesses sa
ilang adoption

What is your contribution to the pool of knowledge?

The study will provide adequate measures in combating uncertainties encountered in adapting
cashless payment methods from first-hand experience of MSMEs particularly in the whole Cebu
island setting. This study will also determine the effectiveness of cashless payment methods
during a global crisis. This may serve as guide a guide to prevailing entrepreneurs, future
entrepreneurs and managers to adopt modifications in the system of exchange and come up with
effective strategies for the development of ease of doing business by collaborating with banks or
other e-wallet platform providers for more accurate decision-making with regards to cashless
payment adoption especially in the time of crisis.

Suggestion: Naa pud me nabutang na contribution to the pool of knowledge sa script sa topic
hearing na file

REFERENCES: (APA 7th Edition)

Cashless Transactions: A Study on Intention and Adoption of e-Wallets. (2021). Sustainability,
13(2), 831. http://dx.doi.org/10.3390/su13020831
Nair, V. P. (2016). Eschewing Cash: The Challenges of Cashless Transactions in the Philippines.
Journal of Southeast Asian Economies, 33(3), 387-397. http://dx.doi.org/10.1355/ae33-3f
Ekta, Mehta, M., & Sehgal, B. (2021). Satisfaction in cashless transaction: A study on
homemakers of Haryana state. International Journal of Education and Management Studies,
11(1), 19-25. https://www.proquest.com/scholarly-journals/satisfaction-cashless-transaction-
study-on/docview/2518474402/se-2?accountid=33262
Shree, S., Pratap, B., Saroy, R. et al. Digital payments and consumer experience in India: a
survey based empirical study. J BANK FINANC TECHNOL 5, 1–20 (2021).
https://doi.org/10.1007/s42786-020-00024-z
BSP (n.d.). Bangko Sentral ng Pilipinas Default.aspx. https://www.bsp.gov.ph/Inclusive
%20Finance/PhilippinesNSFIBooklet.pdf
Lucas, D. L. (2021, February 4). Digital payments surged by over 5,000 percent amid pandemic,
says BSP chief. INQUIRER.net. https://business.inquirer.net/316989/digital-payments-surged-
by-over-5000-percent-amid-pandemic-says-bsp-chief
Executive order no. 064. City Of Cebu. (n.d.). September 28, 2021,
https://www.cebucity.gov.ph/executive-order-no-64/.
Chung, H. T., Mei, Y. O., Nomanbhay, S. M., Abd, H. S., & Pau, L. S. (2021). The Influence of COVID-
19 on Global CO0RW1S34RfeSDcfkexd09rT421RW1S34RfeSDcfkexd09rT4 Emissions and Climate
Change: A Perspective from Malaysia. Sustainability, 13(15), 8461.
http://dx.doi.org/10.3390/su13158461