COVER PAGE

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TABLE OF CONTENT

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ACKNOWLEDGEMENT

First and foremost, we would want to thank and appreciate the Almighty God for
providing us with the strength and blessing to complete this task. We would not have
gotten this far without His blessing. Nur Kamelia Kirana Binti Raymy Shahromann,
Nurul Ainaa Binti Abang Alwi, Siti Nur Athira Binti Haripen, Nur Ainina Binti Mat Zin
and Muhammad Zul Helmie Bin Md Noor are the members of our group. They are
responsible for completing this work. With our entire devotion and responsibility, we
always strive hard to create a decent assignment.

As a result, we would like to express our gratitude to our lecturer, Madam Nik
Rozilaini Wan Mohamed, because without her guidance, our assignment would not
have been completed correctly. She consistently provides us with encouragement
and advice on achieving our tasks to get a positive conclusion. She was a massive
inspiration for us to work on this project. We'd also like to express our gratitude to
her for instructing us in this course.

Finally, we would like to thank University Technology Mara (UiTM) campus

Bandaraya Melaka for providing us with the opportunity to complete this writing
report project.

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INTRODUCTION

The most recent hospitality sector trend is coronavirus outbreak and subsequent
safety measures, which have substantially impacted hospitality in 2020 and will
undoubtedly continue to do so in 2021 and beyond. Some solutions to this unique
scenario, such as striving to coax patrons back into food and beverage outlets and
assuring holiday guests that staying in a hotel is genuinely safe, have expedited
current hospitality sector trends and spurred long-term transformation. Travelers,
particularly overseas visitors, prefer to pay for their rooms and meals using cards, e-
wallets, or smartphone apps.

Meanwhile, societal development has produced new criteria for hospitality

enterprises, partly as a result of altering values in the aftermath of the pandemic's
most severe period and partly as a result of the pandemic's most intense period
itself, to greater customer awareness of all things ecological and meaningful. We'll
provide you with an overview of current trends in the hospitality business.

Because the hotel sector is very competitive, it is vital to stay up with the latest
technology developments and move with the times. Because consumer expectations
and requirements are continually altering, keeping your finger on the pulse is
especially important in the context of COVID. You can discover more about the latest
tech trends for 2022 in this post, which hospitality businesses should be aware of.

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OUR INNOVATION

 NAME OF INNOVATION

Our innovation that we chose to produce and implement in our hospitality industry is
Contactless/Cashless payment. Digital ways of exchanging financial transactions
between two parties are referred to as "cashless payments." Cashless payments are
a viable alternative to traditional paper and coin currencies. A payment gateway is
used to electronically transfer money using debit cards, credit cards, or via a mobile
phone, website, kiosk, or other digital devices.

 BRIEF DESCRIPTION ABOUT OUR INNOVATION

Contactless payments provide a variety of advantages for hotels, resorts,

restaurants, bars, and cafes, which is why they have recently become one of the
most popular technology developments in the hospitality business. Contactless
technology is also easily compatible with loyalty programmes, which speeds up
payments and improves consumer satisfaction.

Even if clients do not have their wallets with them or if their credit card has been
misplaced, mobile contactless payments are available. Furthermore, with COVID
firmly entrenched in the minds of hotel guests and other hospitality clients,
contactless payments can be a great method to cut down on human-to-human
contact.

Cash, it's safe to say, will continue to play a role in our economy for the foreseeable
future. Credit cards and payment applications are not only more convenient but
having everything digital allows for a more efficient and structured revenue system.
Restaurants, in particular, benefit from a purely digital payment system since they
avoid having significant amounts of cash on hand. However, if businesses wish to
service a more diversified consumer base, including those who do not always rely on
their phones, they should continue to offer cash options.

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Cashless payments can be made in a variety of ways, such as:

 Bank cards: Credit and debit cards are the most widely used payment
methods worldwide.
 Mobile wallet apps: Customers can choose from a variety of mobile wallet
apps available on the market. This is a convenient and quick way to pay.
Users have complete control over how they send, receive, and hold money.
The few e-wallet apps that have acquired popularity in the Malaysian market
such as GrabPay, Shopeepay and DuitNow. The government has also
pushed individuals to use e-wallet apps to pay their utility bills, such as water,
power, internet, and television cable bills.
 QR code: QR stands for Quick Response Code, and it is a black square grid
pattern that can be read by smart devices like smartphones, tablets, and
laptops. Customers would be redirected to a certain payment gateway after
scanning the QR code onto their smartphones.

PROBLEMS

With endless advantages the cashless payment trend has brought into the hospitality
industry, the challenges are also there. These are some problem or challenges of
cashless payments:

 Security: The data and cybersecurity risks of cashless payments are

becoming a growing source of concern for many people (by a central bank).
Cyberthreats from both organized technology-fueled robbers and rogue actors
in nation-states are on the rise in today's climate. They seem to be constantly
devising new ways to attack digital systems, resulting in data breaches and
personal information identity theft—and non-cash solutions, particularly credit
and debit cards, may be particularly vulnerable.
 Overspending: While card or mobile wallet transactions are unquestionably
convenient, they may also create a spending trap for the unwary. The pain of
parting with money is felt more sharply if you use physical cash rather than a
credit card, according to behavioural finance theorists. As a result, for people

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 who struggle to manage their spending, utilising cash rather than cards or
mobile wallet functions as a natural barrier.
 Losing phone: Because you'll be relying on your phone for all of your
transactions while on the go, losing it might be a double whammy. It makes
you hard to identity theft as well as render you impotent in the absence of
physical currency or any other form of payment. This is especially true while
travelling abroad or in smaller towns or villages where banking facilities or
other payment options are lacking. Another disadvantage is that you must
keep your phone charged at all times. You'll be stranded if your phone dies on
you, especially if you're in the middle of an essential purchase or dealing with
an emergency.

OPPORTUNITIES

The convenience of making financial transactions is likely the most compelling

reason to go digital. There are some opportunities of cashless payments that we
must know, such as:

 Convenience: Guests do not, of course, need to carry physical money with

them when making payments. They can either pay when making a reservation
through any means (Online Banking, FPX Transaction, etc.) or they can pay
when they arrive at your resort. This is convenient for them, and it allows them
to complete transactions more quickly.
 Lowering the risk of keeping cash: There are numerous dangers associated
with handling currency. It may be stolen, broken during a disaster, or give out
additional change by accident, among other things. Managing your finances
becomes much easier with a cashless approach.
 Maximize sales: Customers appreciate and are willing to spend more than
they planned on added-value products and services like spas, private tours,
brunch packages, and so on because of the simplicity of paying. A few hotels
would provide significant discounts if their guests' total spending at the time of
check-out exceeded a specific amount in attracting new business. It can be
traded for cash and removed from their stay charges immediately, or it can be
saved for a future stay.

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USEFULNESS OF OUR INNOVATION

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UNIQUENESS AND SPECIALIZATION OF OUR INNOVATION

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CONCLUSION

REFERENCES

 https://www.cihms.com/en/cashless-payments-in-the-hotel-sector-trends-
challenges/
 https://www.ezeeabsolute.com/blog/cashless-payments-in-hotels/
 https://www.zoho.com/books/articles/cashless-payments.html

APPENDICES

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