1

Mabini Colleges Inc.

College of Business Administration and Accountancy

Daet, Camarines Norte

“THE LEVEL OF AWARENESS OF MICRO AND SMALL ENTERPRISES TO

THE ADOPTION OF E – WALLET
IN CAMARINES NORTE”

Arañez, Iritz P.

Bongalos, Emily G.

Zoleta, Judyan D.

2023

Chapter 1
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THE PROBLEM

Introduction

In recent years, electronic payments have become popular as more

people have chosen to use digital transactions for convenience and security.

Electronic payments have altered how people conduct online and offline

business by introducing e-wallets, mobile banking apps, and contactless

payments. Due to physical precautions in response to the COVID-19 epidemic,

traditional payment options like cash and cheques have become less tempting.

This has further hastened the shift towards electronic payments. It was

anticipated that as electronic payments spread around the globe, more

companies and customers will adopt this technology, creating a more productive

and cashless economy.

A digital card, an e-wallet, was purchased online using a computer or

smartphone. The same thing that a debit or credit card does was achieved

through it. To accept payments, an individual's e-wallet must be connected to

their bank account. A pre-paid account called an e-wallet enabled customers to

keep money on hand for prospective online transactions. The two primary

components of e-wallets were software and data. The software component

preserved and protected the information when maintaining personal data. A

database with user-submitted information, such as names, shipping addresses,

preferred payment options, required payment amounts, credit or debit card

information, etc., made up the information component.

As the internet became widely used in the 1990s, e-commerce has grown

to be an essential aspect of business and has contributed to the development of

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the economy, which has increased the acceptance of electronic payments for

online transactions. In fact, the first digital payment method appeared in 1997

when Coca-Cola placed a number of new vending machines in Helsinki that

enabled customers to send text messages to purchase a can. It was the first

digital payment method (Briggs, 2016). E-wallets swiftly emerged as the ideal

solution as a result of the necessity for monitoring, managing, and controlling the

inflow and outflow of cash as well as other ethical difficulties when dealing via e-

payment systems for both users and the government. Google released an NFC

(near-field communications) enabled e-wallet in 2011 that allowed users to make

payments, collect loyalty points, and get coupons. The new e-wallet invasion also

spread rapidly (Sachdev, 2019). Throughout time, e-wallets have progressively

increased in popularity along with a range of e-wallet applications, including

PayPal One Touch, Apple Pay, Venmo, Samsung Pay, and e-Wallet (White,

2019).

International research has shown that the use of electronic wallets has

dramatically increased in recent years. E-wallets, which offered a speedy and

secure transaction method, were becoming more and more well-known on a

global scale. In 2020, it was predicted that the worldwide mobile wallet market

would be worth $1.04 trillion. According to a Grand View Research analysis, it

was projected to expand at a compound annual growth rate (CAGR) of 19.2%

from 2021 to 2028. Southeast Asia was also seeing a rise in e-wallet usage and

digital payments will triple to USD 1.5 trillion by 2025, predicts a report by

Google, Temasek, and Bain & Company. The use of electronic wallets was on

the rise, especially in countries such as Vietnam, the Philippines, and Indonesia.
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Electronic transactions have great potential given that the country’s mobile

phone usage rate was high. However, there were still many challenges to

overcome for the industry to become successful such as infrastructures,

regulation concerns and buy-in from merchants and most importantly firms that

need to address and build awareness and trust from consumers to improve e-

wallets usage in the country.

Zoleta (2022) stated that Gcash and Paymaya, the leading e-wallets

providers in the Philippines were the best option for the Filipinos to do digital

financial transaction without physical cash and credit cards and it was for the

convenience of everyone. Several factors influenced the micro, small and

medium enterprises’ (MSMEs) to use digital payments. These included the low

frequency of visiting to physical stores, online payments systems offered by the

firms, high numbers of customer inquiries regarding to the availability of digital

payments (Trinugroho, 2021). The e-wallet only required a stable internet

connection and the application downloaded into the mobile device. When there

was cash in the e-wallet, it can be used to pay to the retailers through a range of

methods, including scanning QR Code or with the physical card of the e-wallet

system. Cashless transactions have now become extremely popular and the

worldwide demand for e-wallets was constantly increasing (Singh, 2020). E-

wallet system in the Philippines mostly does not require bank account and can be

easily accessible using mobile phones. It was used for online purchases and

accomplished the same task as a debit or credit card. Systems such as Gcash

and Paymaya made it easier for the Filipinos to use digital payments. Electronic
5

payment systems' rising popularity and widespread adoption have fundamentally

changed how firms conduct their transactions (Chaves et al., 2019).

A crucial part of the economy in Camarines Norte, a province in the

Philippines' Bicol Region, comprised micro and small businesses (MSEs). The

Department of Trade and Industry estimated that SMEs employ about 63% of the

workforce and make up over 99% of all firms in the nation. Developing electronic

payment methods, especially e-wallets, can change how MSEs conducted

business and increased productivity (Syifa, 2020). E-wallets gave companies a

safe and practical way to send and receive payments, monitor cash flow, and

simplify accounting procedures. Even so, MSEs in Camarines Norte still need

better knowledge and usage of e-wallets. Past research has demonstrated that

several issues, including restricted access to information and instruction on e-

wallets, a lack of faith in the technology, and cultural and behavioral hurdles to

acceptance, affected the adoption of e-wallets among MSEs in the Philippines,

(Chaves et al., 2019).

In the setting of the current study, e-wallet benefitted the users, providers,

and policymakers to understand the important features, prospects, and

challenges involved, so that they can improve the service quality of the e-wallet

system.
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Statement of the Problem

The objective of this research was to assess the familiarity of micro and

small-sized enterprises in Camarines Norte with using e-wallets to enhance their

productivity.

Specifically, this study sought answers to the following:

1. What were the Profiles of the Enterprises in terms of:

1.1 Nature of Operation;

1.2 Number of Years in Operation;

1.3 Capitalization; and

1.4 Number of Employees?

2. What was the level of awareness that affected the adoption of e-wallets

towards enterprises in terms of:

2.1 Usefulness;

2.2 Ease of Use;

2.3 Risk; and

2.4 Trust?

3. Was there a significant difference between the level of awareness of micro and

small enterprises to the profiles?

4. What were the barriers that hinder the adoption of e-wallets among micro and

small enterprises in Camarines Norte?

5. What strategies can be developed to promote the adoption of e-wallets among

micro and small enterprises in Camarines Norte?

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Hypothesis

There was no significant difference between the level of awareness of

micro and small enterprise in their profiles.

Significance of the Study

The researchers believed that the results of this study may be useful and

beneficial to the following:

Micro and Small Owners. This study will assist business owners and

proprietors in learning more about the adoption of e-wallets as a form of

payment. E-wallets may enhance the shopping experience for customers by

presenting quicker and more practical payment methods. This could lead to

improved consumer loyalty and repeat business and benefits firms by offering

more stable and predictable business operations.

Business Establishments. Businesses in the Camarines Norte should be

able to strategize their operations accordingly through the use of e-wallets.

Establishments should be able to take advantage of the said innovations to

strengthen the flow of goods and services, as well as their payment systems.

Employees. This study will help employees become more aware of

specific circumstances involving e-wallets. Employees may need to learn new

skills or receive training to use e-wallets effectively, which could lead to

opportunities for professional development. This may be especially important for

employees in finance or accounting who were in charge of managing financial

transactions. This research will also assist them in being satisfies with the
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organizations commitment to social and environmental responsibilities, as well as

demonstrating more significant commitment, engagement and productivity.

Consumers. This research will assist consumers in better navigating e-

wallets and securely storing all of their payment information in a compact form.

This research will also assist them in becoming more financially literate, as e-

wallets enable faster, more convenient, and more secure transactions.

Consumers could save money by using e-wallets to make purchases, depending

on the fees associated with e-wallets and other payment methods. This may be

especially relevant for small purchases, where credit card transaction fees can

be relatively high. Reduced risk of threats and scams will benefit both consumers

and businesses by increasing business productivity.

Students. This study will benefit students in the same way that research

studies benefit the acquisition of additional knowledge. As most student now use

e-wallets, this research will assist them in property managing their finances and

becoming aware of the effects of e-wallets that will assist them in their daily lives.

As more micro and small-sized business use e-wallets, it may create new job

opportunities in finance, accounting, and technology. Students studying in these

fields may find work in SMEs implementing e-wallets solutions. The study could

allow students to interact with the local business community and learn more

about micro and small enterprises challenges and opportunities in Camarines

Norte. This could help students better understand the local business

environment, which could lead to opportunities for community service.

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Researchers, themselves. This study would be beneficial for researchers

themselves since it will answer their curiosity and eagerness to know the level of

awareness of business owners.

Future Researchers. The result of this study can encourage and pique

the interest of future researchers to work on the topic and explore new horizons

related to it in order to gain more information. This study may be used as a

supporting credential by future researchers in future studies. Also, this may serve

as a guide if the researchers decide to scrutinize the subject.

Scope and Definition of Terms

The researchers have conceptually and operationally defined often-used

terms in order to have a better understanding and accurate grasp of this study.

Micro and Small Enterprises. Businesses that were small in scope, have

few employees, and need more financial resources. In this study, it referred to

the MSEs or companies in Camarines Norte with fewer than ten employees and

annual sales of less than PHP 3,000,000.

Adoption. It was the process of embracing a novel technology or method.

In this study, it focused on the percentage of Camarines Norte’s micro and small

businesses that use e-wallets as a form of payment in business transaction.

E – Wallet. A digital wallet or other electronic gadget used to conduct

financial transactions and store information about credit/debit cards and bank

accounts. It served as the research study's chosen accounting topic. In this

study, it referred to a digital wallet that can be accessed via a mobile device, was

capable of storing, sending, and receiving payments electronically, and was

interoperable with popular payment systems such as GCash and Maya.

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Digital Payment. The transfer of money from one user to another via

digital or online modes. In this study, it referred to the transfer of value from one

payment account to another using a digital device.

Online banking. It was a feature offered by banks and financial institutions

that allowed clients to use banking services over the internet. In this study, it

referred to the consumers that dealt with the essential transaction that they need

to manage their finances seamlessly.

Awareness. It was the understanding or perspective of a specific fact or

circumstance. In this study, it referred to the degree of knowledge of e-wallet

technology among micro and small business in Camarines Norte and its potential

advantage in boosting business efficiency, as determined by a survey

questionnaire.

Retail. It referred to the actual sale of goods or services directly to

consumers, typically through various channels like stores, online platforms, or

other points of purchase. It was the stage where the end customer acquired the

product for personal use.

Merchandising. It was a strategic process that preceded retail. It involved

activities such as planning, procuring, and presenting products in a way that

maximized sales and profitability. Merchandising focused on decisions related to

product selection, pricing, and display, aiming to create an attractive and

compelling shopping environment to drive consumer interest and purchases. In

addition, merchandising was about the overall strategy that influenced what

products were available and how they were presented to potential buyers.

Delimitation
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This research focused on the adoption of e-wallet of Micro and Small

Enterprises. The study attempted to highlight the factors that facilitate Micro and

Small Enterprises to adopt e–wallet within the provinces and specifically

evaluated their profile in terms of the nature of operation, number of years,

number of employees, the level of awareness that affected the adoption of e-

wallet towards business in terms of usefulness, ease of use, risk and trust.

The chosen respondents for this study were micro and small business

registered in Camarines Norte including the micro and small owners, employees,

and consumers to get the most reliable information needed for the conduct of the

study.
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Notes

Bangko Sentral ng Pilipinas. (n.d.). Financial Inclusion Survey 2019.

https://www.bsp.gov.ph

Chaves, S., Iturralde, E., King, N. M. C., & Rosendo, R. J. R. (2019). Industry

Study of Electronic

Money. ResearchGate. https://doi.org/10.13140/RG.2.2.18567.21925

Education Technology Market Size, Share & Trends Analysis Report By Sector

(Preschool, K-12, Higher Education), By End-user (Business, Consumer),

By Type, By Deployment, By Region, And Segment Forecasts, 2023-

2030.

(n.d.). https://www.grandviewresearch.com/industry-analysis/education-

technology-market

Sachdev, N. (2019, February 28). The evolution of ewallets: History, Benefits and

Withdrawals. The Sociable. https://sociable.co/mobile/evolution-ewallets-

history-benefits-withdrawals/

Scott-Briggs, A. (2020). What was a Mobile Wallet, Origin and History in

Financial technology? TechBullion. https://techbullion.com/mobile-wallet-

origin-history-financial-technology/

Singh, N., Sinha, N., & Liébana-Cabanillas, F. (2020). Determining factors in the

adoption and recommendation of mobile wallet services in India: Analysis

13

of the effect of innovativeness, stress to use and social

influence. International Journal of Information Management, 50, 191–

205. https://doi.org/10.1016/j.ijinfomgt.2019.05.022

Syifa, N., & Tohang, V. (2020). The Use of E-Wallet System. International

Conference on Information

Management. https://doi.org/10.1109/icimtech50083.2020.92 11213

Trinugroho, I., Pamungkas, P., Wiwoho, J., Damayanti, S. M., & Pramono, T. B.

(2021). Adoption of digital technologies for micro and small business in

Indonesia. Finance Research Letters, 45,

102156. https://doi.org/10.1016/j.frl.2021.102156

White, J. (2020b, October 5). What Was a Digital Wallet and How Does It

Work? TheStreet. https://www.thestreet.com/technology/what-was-a-

digital-wallet-15100753

Zoleta, V. (2022, April 28). [Battle of the Brands] PayMaya vs GCash: Which

Mobile Wallet App was Right for You? Moneymax

Blog. https://www.moneymax.ph/personal-finance/articles/paymaya-vs-

gcash
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Chapter 2

REVIEW OF RELATED LITERATURE AND RELATED STUDIES

This chapter presented a review of related literature and studies which

had an important bearing on the problem and helped the researcher to a better

understanding of the research. The ideas gathered from the sources provided the

researchers with a broader dimension of knowledge and insights that served as

background information for the study. In addition, the state-of-the-art, gap

bridged by the study, conceptual framework and paradigm, theoretical

framework, and paradigm were discussed in this chapter.

Related Literature

Customers increasingly preferred to use electronic payment since it

eliminated the need to carry cash. It was simpler to trace and keep track of

transactions for both businesses and entrepreneurs. Cacas et al. (2022)

examined the motivating factors for Generation X's behavioral intent to use

mobile wallets in the Philippines. The study showed that there has been a

continuous evolution of financial services through cash to credit cards to

electronic transfers. The behavioral objective for generation X was created during

this pandemic to utilize GCash. It implied that GCash positively affected

Generation X's behavioral intention to use it and that there was a high correlation

between behavioral intention and influencing factors including perceived risk,

ease of use, rebates, and social influence.

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The antecedents or drivers that affected consumer adoption of technology

were covered in a study by Gabriel et al. (2022). Security, cost, convenience,

characteristics of mobile service providers, characteristics of mobile payment

vendors, characteristics of mobile technology, disposition of trust, and disposition

of culture have all been studied extensively concerning consumer adoption

factors of e-money technology. An investigation into the factors that motivated

Generation X and Generation Y customers to use mobile payments was carried

out in the Philippines. The findings indicated that attitude was the most important

predictor of intention to adopt mobile payment across Generations X and Y. Also,

among Generation X, there were notable correlations between perceived utility,

perceived simplicity of use, and desire to utilize mobile payment. These results

implied that marketers can influence consumers' attitudes by making mobile

payment simple to use and beneficial.

Raon et al. (2021), in contrast, examined Filipino consumer's adoption of

using e-payment systems. It was determined that perceived risk, trust, security,

usage of web-assurance seals, perceived usefulness, and perceived advantage

were not sufficiently important to determine their relationships with the

willingness to embrace e-payment systems.

The key emphasis of this paper's study of the level of awareness among

Camarines Norte's micro and small enterprises was the adoption of e-wallets.

The Bangko Sentral ng Pilipinas (BSP) has been actively encouraging the usage

of electronic wallets and digital payments in the Philippines. The National Retail

Payment System (NRPS) was introduced by the BSP in 2019 and intended to

provide a reliable and effective retail payment system nationwide. The BSP has
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also put procedures in place to control e-wallet service providers and guarantee

the security of customer data and payments. The growing acceptance of

electronic payment systems has fundamentally altered how people conducted

business. E-wallets, sometimes called electronic wallets, have grown in

popularity as a popular type of electronic payment that allowed individuals and

companies to conduct transactions quickly and securely on mobile devices. Micro

and small businesses (MSEs) have also embraced e-wallets to increase

productivity and efficiency.

Adoption of digital payments has been slow in the Philippines, despite the

recent development of the electronic payment (e-payment) systems enterprises.

The country's relatively small population of bank customers was one factor that

contributed to this slower-than-average growth rate (Remo, 2018). On the other

hand, the country's usage of mobile phones continued to be powerful, which

offered electronic transactions a huge potential to boost the development of

digital payments in the country even further. E-wallet was one kind of electronic

payment system that may be accessible through mobile devices.

Additionally, respondents may be more likely to utilize e-wallets than those

who received information regarding delayed reimbursement or received no

information if they were assured of immediate recovery in the event of fraud. This

study highlighted the necessity of customer knowledge, perceived usefulness,

perceived simplicity of use, and trust for the adoption of e-wallets.

E-wallets and mobile payment systems became more popular since they

offered speedy, secure, and useful payment services that required little human

interaction (Shetu et al., 2022). The researchers conducted a survey using a

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structured questionnaire and a non-probability purposive sampling method. The

results showed strong relationships between behavioral intention to adopt digital

wallets and perceived utility, usability, compatibility, and security. Nonetheless,

perceived compatibility, regarded personal originality, and perceived social

impact were not found to be significantly correlated by indirect path analysis. This

study shed light on a neglected area of study and provided insight into the

elements that affected e-wallet user acceptance.

According to Kumar et al. (2020), adoption was a kind of consideration

regarding making optimal use of technological development. The technological

use of a new conception or modern tool was the adoption process, Sutopo and

Annur (2018) stated that e-wallet adoption was a human's decision to optimally

utilize the innovation of a digital wallet based on their needs.

According to Warningsih et al. (2021), perceived usefulness was an

assumption about the added value that would be accepted. Financial technology

will certainly make a positive impression on the service if it was able to satisfy a

person's perceived benefits, such as the realization of efficacy and efficiency,

which enhanced usage intentions. It can be stated that perceived usefulness was

a measurement of a person's belief performance at work and saving time, and

also the realization of efficacy and efficiency.

Nangin et al. (2020) defined perceived ease of use in the usage of

technology as a measure in which a person felt that technological devices may

be easily understood and used. The perceived ease of use factor was tested by

Ramil et al. (2017), who concluded that perceived ease of use was defined as

user confidence to accept technology that was less complicated, easier to use,
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and easier to comprehend. It may be determined that perceived ease of use was

a measurement of how likely someone was to utilize technology to fulfill their

needs since the technology was simple to grasp and use.

Kinis and Tanova (2022) examined the connections between prior

consumer awareness of e-wallet technology, perceived usefulness, perceived

ease of use, trust, and attitudes toward utilizing e-wallets, which in turn linked to

the intents to use this technology. The results showed a connection between

consumer knowledge of e-wallet technology and views of its usefulness,

usability, and trust, all of which influenced attitudes toward and behavioral

intentions with regard to embracing and using new technologies such as e-

wallets.

Trust was an essential element of relationship management. With trust, a

person was more likely to rely on others. In this instance, the digital wallet

service providers must be strategic in order to keep the confidence that has been

established. These can capture the curiosity of consumers while also maintaining

current consumers (Warningsih et al., 2021). According to George and Sunny

(2021), trust was the extent to which consumers perceived a mobile wallet

application provider to be trustworthy in terms of security, reputation, and

regulatory assistance. It was probable that the concept of trust referred to

consumer confidence in utilizing and relying on technology with the assurance

that user data was safe, user privacy was protected, and user interests were well

served.

Concern regarding the transaction security while using electronic wallets

was referred to as perceived risk (Zhao et al., 2019). According to Ryu (2018),
19

while the uses of fintech were always connected with a high level of risk and

uncertainty, it also had the benefit of making consumers' transactions easier

when compared to standard financial services.

In another study, Daragmeh et al. (2021) examined the variables

influencing customers' propensity to use mobile payments. The study discovered

that perceptions of perceived usefulness and convenience significantly

influenced consumer adoption of mobile payments. The study also discovered

that transaction security had a sizable mediating effect, and empirical evidence

suggested that transaction security can reinforce customers' behavior toward

intending to use mobile payments. In order to persuade customers to accept this

new technology, this study underlined the significance of making mobile payment

solutions simple to use and practical while maintaining transaction security.

In conclusion, more people were using mobile payment apps and e-

wallets for both domestic and professional transactions. This acceptance was

influenced by a number of factors, including perceived usefulness, ease of use,

confidence, transaction security, and attitude. The studies discussed in this paper

emphasized how important it was to understand consumer knowledge and

motivation in order to encourage the adoption of these new technologies.

Related Studies

Adopting e-wallets was the main emphasis of this paper's analysis of the

level of awareness among Camarines Norte's micro and small businesses.

The study of Mendoza et al. (2020) entitled “Asssessment of E-Service

Quality Dimensions and Its Influence on Customers Satisfaction: A study on the

Online Banking Services in the Philippines” analyzed the e-service quality

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elements in the Philippines' online banking services and how they affected

customer satisfaction. The study found that dependability, responsiveness,

assurance, and empathy were key components of the quality of e-wallets that

have a significant impact on customer satisfaction. The factors influencing

Generation X's adoption of mobile wallets in the Philippines were examined by

Cacas et al. (2022). The study found that behavioral intention to use mobile

wallets was highly influenced by perceptions of usefulness, ease of use, and

trust.

During the COVID-19 outbreak, the study of Parilla et al. (2023) entitled,

“Continuous Intention to Use E-Wallet by Business Owners in the Context of the

COVID – 19 Pandemic” looked into business owners' ongoing plans to adopt e-

wallets. The study found that the intention to use e-wallets continually was

significantly influenced by the perceived usefulness and convenience of use.

These studies implied that essential factors impacting the acceptance and use of

electronic payment systems included perceived usefulness, ease of use, trust,

and security. The acceptability and use of electronic payment systems were also

influenced by the following criteria: gender, customer satisfaction, and the impact

of outside forces such as the COVID-19 epidemic.

The antecedents or drivers that affected consumer adoption of technology

were covered in a study by Gabriel et al. (2022) entitled “Consumer Acceptance

of Mobile Payment Technology: A Study among Foodservice Consumers in

Selected Cities in the Province of Cavite.” Security, cost, convenience,

characteristics of mobile service providers, characteristics of mobile payment

vendors, characteristics of mobile technology, disposition of trust, and disposition

21

of culture have all been studied extensively concerning consumer adoption

factors of e-money technology. An investigation into the factors that motivated

Gen X and Gen Y customers to use mobile payments was carried out in the

Philippines. The findings indicated that attitude was the most important predictor

of intention to adopt mobile payment across Generations X and Y. Also, among

Generation X, there were notable correlations between perceived usefulness,

perceived simplicity of use, and desire to utilize mobile payment. These results

implied that marketers can influence consumers' attitudes by making mobile

payment simple to use and beneficial.

A study conducted by Chaves et al. (2019) entitled “Industry Study of

Electronic Money” emphasized the significance of security in using e-money

technology. It was determined that using cloud computing as a technology

provider for e-money was a good idea, especially when dealing with a sizable

customer base. Firms should carefully assess the benefits and drawbacks of

each technology and each supplier's price strategy. Biotech was also mentioned

as a possible e-money replacement, with biochips able to serve as future

payment platforms. With the use of this technology, payments could be made in

the future without the use of external devices or cash.

In recent years, there have been significant research studies on the

variables influencing e-wallet adoption in various countries such as China, India,

Japan, and Korea. The two most often used models among these were the

Unified Theory of Acceptance and Use of Technology (UTAUT) and the

Technology Acceptance Model (TAM). TAM and UTAUT, according to Mondego

22

et al. (2018), have often been utilized as the theoretical framework for studies on

mobile payment systems between 2013 and 2017.

The study by Talwar et al. (2020) entitled “Point of Adoption and Beyond.

Initial Trust and Mobile – Payment Continuation Intention” indicated that PU may

be a factor in e-wallet application satisfaction. Technology Continuance Theory

(TCT) has been proven to have a good exploratory capacity to understand PU,

satisfaction, attitude, and desire to continue using e-wallets (Humbani and

Wiese, 2019).

The study by Kinis and Tanova (2022) entitled “Can I Trust My Phone to

Replace My Wallet? The Determinants of E – Wallet Adoption in North Cyprus”

analyzed the relationship between prior consumer knowledge of e-wallet

technology, perceived usefulness, perceived ease of use, trust, and attitudes

towards using e-wallets which in turn related to the intentions to use this

technology. The findings demonstrated a relationship between consumer

awareness of e-wallet technology and perceptions of its usefulness, usability,

and trust, all of which affected attitudes and behavioral intentions regarding

adopting and using new technologies such as e-wallets. In addition, respondents

who received assurances of immediate reimbursement in the event of fraud

might be more likely to use e-wallets than those who received information about

delayed reimbursement or received no information. For e-wallets to be adopted,

this study emphasized the significance of customer understanding, perceived

usefulness, perceived ease of use, and trust.

According to a study by Shetu et al. (2022) entitled “An Empirical

Investigation of the Continued Usage Intention of Digital Wallets: The Moderating

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Roles of Perceived Technological Innovativeness”, that e-wallets and mobile

payment systems were gaining popularity due to their quick, safe, and practical

payment services requiring little human involvement. The findings revealed

substantial correlations between perceived usefulness, usability, compatibility,

security, and behavioral intention to embrace digital wallets. However, no

meaningful correlations were discovered by indirect path analysis between

perceived compatibility, considered personal inventiveness, and perceived social

impact. This study illuminated a neglected field of research and offered an

understanding of the factors that influenced user adoption of e-wallets.

The study by Al-Sabaawi et al. (2021) entitled “User Trends of Electronic

Payment System Adoption in Developing Countries: An Empirical Analysis”

looked into the user trends in developing nations' use of electronic payment

systems. According to the study, adopting electronic payment systems was

significantly influenced by utility, usability, and security perceptions. The study by

Al-Dmour et al. (2021) entitled “Technology Acceptance Dynamic and Adoption

of E – Payment System: Empirical Evidence from Jordan” researched on

Jordan's e-payment system adoption and technology acceptance dynamics.

According to the study, the adoption of e-payment systems was significantly

influenced by perceptions of usefulness, usability, and trust.

In recent years, it has become increasingly crucial for micro and small

businesses to embrace electronic payment methods. Much research has

investigated the variables influencing consumer and business owner acceptance

and usage of electronic payment systems. An investigation of how gender

affected acceptance of electronic payment technologies in the United Arab

24

Emirates was done by Alshurideh et al. (2021) through their study entitled “The

Moderation Effect of Gender on Accepting Electronic Payment Technology: A

Study on United Arab Emirates Consumers.” The findings showed that gender

moderated the association between behavioral intention to use electronic

payment systems and perceived ease of use.

In another study by Daragmeh et al. (2021) entitled “Continuous Intention

to Use E – Wallet in the Contect of the COVID-19 Pandemic: Integrating thr

Health Belief Model (HBM) and Technology Continuos Theory (TCT),” variables

influencing customers' propensity to use mobile payments were examined. The

study discovered that perceptions of perceived usefulness and convenience

significantly influenced consumer adoption of mobile payments. The study also

discovered that transaction security had a sizable mediating effect, and empirical

evidence suggested that transaction security can reinforce customers' behavior

toward intending to use mobile payments. In order to persuade customers to

accept this new technology, this study underlined the significance of making

mobile payment solutions simple to use and practical while maintaining

transaction security.

In conclusion, more people were now using mobile payment apps and e-

wallets for both domestic and professional transactions. This acceptance was

influenced by a number of factors, including perceived usefulness, ease of use,

confidence, transaction security, and attitude. The studies discussed in this paper

emphasized how important it was to understand consumer knowledge and

motivation in order to encourage the adoption of these new technologies

Synthesis of the State of the Art

25

Upon studying and conducting previous reviews of related studies,

researchers identified the following similarities and differences

deemed significant in understanding this research. Each of these studies had a

distinctive way of defining and highlighting the problem, similar to how the

present research did. This study's adoption of e-wallets may have similarities with

Kinis and Tanova’s (2022) study, which found a relationship between consumer

awareness of e-wallet technology and perceived usefulness, perceived ease of

use, and trust, towards using e-wallets and the attitudes and behavioral

intentions regarding adopting and using this technology.

On the other hand, the study by Cacas et al. (2022) and Gabriel et al.

(2022) looked into the factors influencing the adoption of mobile wallets in the

Philippines. Results showed that perceived usefulness, perceived ease of use,

and trust to utilize mobile payment were all important factors in behavioral

intention to use mobile wallets. These results suggested that marketers can

influence consumers' attitudes by making mobile payments simple and beneficial.

Furthermore, the study of Parilla et al. (2023) and Al- Sabaawi et al.

(2021) examined the intentions to use e-wallets. Both studies found that the

intention to use e-wallets was significantly influenced by perceived usefulness

and perceived ease of use, trust and security. These studies suggested that

essential factors impacting the acceptance and use of electronic payment

systems included perceived usefulness, ease of use, trust, and security.

This study shares similarities with others where all variables were

considered to influence e-wallet adoption. However, this was different from the

present study because it was adapted to the particular circumstances and

26

dynamics of the awareness of the adoption of e-wallets. This research also

differed in terms of the specific context, data collection techniques, findings and

conclusions.

The study conducted by Mendoza et al. (2020) found that dependability,

responsiveness, assurance, and empathy were key components of the quality of

e-wallets that have a significant impact on customer satisfaction. On the other

hand, the study of Talwar et al. (2020) indicated that PU may be a factor in e-

wallet application satisfaction. This was similar to the present study as they

analyzed how variables significantly influenced customer satisfaction on using e-

wallets. Unlike other studies, this research focused on how familiar micro and

small businesses were with e-wallets and how that affected adoption. This was

particularly interested in how perceptions of usefulness, ease of use, risk, and

trust in new technology influenced the intention to use e-wallets among these

businesses.

The impact of demographic considerations on the proliferation of e-wallets

was another recurring topic of discussion. Male consumers were more likely to

adopt e-wallets, according to the research conducted by Alshurideh et al. (2021).

This finding suggested that gender moderated the relationship between

electronic payment technology and acceptability. Researchers discovered that

generation X's behavioral intention to use GCash services in the Philippines was

influenced by various demographic factors, such as age, income, and education

level. Specifically, the researchers looked at the generation X population in the

Philippines with regards to their adoption of e-wallet. However, this research

study specifically focused on the the level of awareness to the adoption of e-

27

wallet. As a result, despite the fact that they shared some similarities, the focus

and scope of each one was distinct.

In general, the studies shed light on how important it was to understand

the elements that influenced the adoption and usage of electronic wallets to

foster the expansion of electronic payment systems in developing nations. The

findings can inform regulations targeted at raising adoption rates and may assist

businesses in developing effective marketing strategies that encouraged the

usage of mobile payment apps and electronic wallets.

Gap Bridged by the Study

According to the related studies, there were no studies similar to the one

being conducting by the researcher. In addition to the fact that no other study has

a similarity to the present one, it was necessary to conduct extensive research in

order to identify and resolve the key points that cannot be seen in other studies.

The researchers focused on the fact that there were knowledge gaps

regarding the adoption e-wallet in the current study. Information regarding how

small enterprises can retain their success was provided by some studies.

According to the results of the current study, managing owners needed to be

aware of how to adapt to e-wallets. It served as the foundation for a number of

factors that affected the possibility for business growth. The aim of this research

was to assess entrepreneur awareness among Camarines Norte's micro and

small enterprise.

Lack of attention to the particular requirements and difficulties faced by

micro and small enterprises in connection to e-wallet adoption may be one

potential gap in this study. Although e-wallets have been shown to have
28

advantages for businesses in prior studies, these studies tended to concentrate

on larger companies with more sophisticated infrastructure and resources.

It was probable that e-wallet adoption may create distinct obstacles for

smaller firms than for bigger ones because of the particular characteristics and

constraints of micro and small organizations, such as restricted budgets and

technological infrastructure. For instance, they could need more specialized

solutions, such as easier-to-use user interfaces or lower transaction costs, to

make the use of e-wallets profitable for their company.

Therefore, more research was required to examine the unique

requirements and difficulties faced by micro and small businesses with regard to

the adoption of e-wallets. To learn more in-depth details about the experiences of

small company owners with e-wallet adoption, this could use qualitative research

techniques such as focus groups or interviews. In order to prevent these

companies from falling behind in the switch to digital payment systems, such a

study could assist in finding more focused tactics for encouraging e-wallet usage

among micro and small organizations.

29

Theoretical Framework

According to the Theory of Reasoned Action, people acted in accordance

with their behavioral objectives, which were established by their perspective on

the action and their own internalized standards for how it should be performed.

Davis (1986) developed the technology acceptance model (TAM) on the basis of

the TRA to describe how people actually used technology. TAM established the

basic relationship between the two main beliefs—the usefulness and ease of use

of the technology, and the users' attitudes, intentions, and behavior toward it

using TRA as its theoretical foundation

The Davis (1986) technology acceptance model (TAM) was widely utilized

by the research field to examine the factors that motivated users to adopt new

technological systems.

The Technology Acceptance Model (TAM) was relevant to the purpose of

this study, which was to identify the users' intention to use e-wallets. Perceived

risk (PR) and trust (T) were the other two variables that were considered in

addition to TAM to determine if users wanted to use an e-wallet. Everyone has

used e-wallets, which were a new market trend. Due to the wide range of

services it provided, users benefitted greatly by using it. Therefore, in order for e-
30

wallet platform developers to enhance and better serve users, researchers must

understand consumers' motivations for utilizing e-wallets. Tan et al. (2020)

claimed that the primary variables of TAM, which were perceived usefulness

(PU) and perceived ease of use (PEOU), were the essential determinants of

adopting a new technology intentionally.

Variables were used in this study to evaluate users' intentions to adopt e-

wallets. Perceived usefulness (PU), perceived ease of use (PEOU), perceived

risk (PR), and trust (T) were the variables.

In the technology acceptance model (TAM), perceived usefulness (PU)

was one of the most used variables as well as a key component to study the

outcomes of the adoption of e-wallets. The perceived usefulness (PU) referred to

the amount of belief that customers had while they were using the new

technologies to complete their responsibilities.

The perceived ease of use (PEOU) was an essential component of the

technology acceptance model (TAM) that assessed the convenience and

simplicity with which users may use e-wallets in their everyday lives. Perceived

ease of use, or PEOU, was described by Davis (1989) as a person's perception

of how simple it was to use a new technology or system.

On the other hand, perceived risk (PR) referred to the user's feelings of

predictability about the possibility of an unfavorable outcome. Perceived risk

(PR), according to Widodo et al. (2019), was the possible loss that users assume

when they make purchases. Users will hesitate while making a purchase,

especially one that was expensive, claim (Razif et al., 2020). There were risks
31

associated with using e-wallets, including the exposure of personal data to

unauthorized parties. As a result, users may get concerned.

Trust (T) may be defined as the amount of user belief in the value and

usefulness of e-wallet services. Trust was an essential component of electronic

monetary services according to Malik and Annuar (2021) who defined it as a

person's feelings towards other people in performing a task. Doubt led to failure,

which discouraged users from using online payment systems at some point, but

trust resulted in better outcomes. An essential variable to consider when

examining technology adoption was trust. According to prior study by Ajmera and

Bhatt (2020), trust was an important factor in determining a consumer's intention

towards a particular technology.

Therefore, this study supported the argument of the perception of

technology. Specifically, the micro and small enterprises in this study had more

users to identify the intention to use e-wallets by confirming between the

perceived utility, perceived ease of use, perceived risk, and perceived trust when

it came to the use of adopting new innovation.

32

Theory of
Reasoned
Action (TRA)

Technology Acceptance Model

(TAM)

 Usefulness
 Ease of Use
 Trust
 Risk

The Level of Awareness of Micro and

Small Enterprises to the Adoption of E-
wallet in Business Productivity in
Camarines Norte”
33

Figure 1

Theoretical Paradigm

Conceptual Framework

This Conceptual Framework highlighted the idea that guided the study’s

design. The independent variable and dependent variable model was used in

this study. The objective of the study was to determine how the independent and

dependent variables related to one another. An independent variable in this study

was one that was modified and affects the dependent variable. On the other

hand, the dependent variable was something that researchers were trying to

assess.

As a result, this study's independent variable primarily had to do with the

respondents. The study's input was shown in the first box, which included the

profiles of the enterprises in terms of the nature of operation, number of years in

operation, capitalization and the number of employees. The second frame

indicated usefulness, ease of use, risk, and trust. The third box outlined the

barriers that hindered the Adaptation of e-wallets. These were regarded as the

study's input.

Lastly, the right portion of the box which was the proposed the level of

awareness of micro and small enterprise was the dependent variable:

respondents were the managing owners of micro and small businesses. Survey
34

administration, data collection and the use of statistical tools were the steps in

the process. The assessments and evaluations were crucial in determining how

well-versed they were in utilizing e-wallets. This also acted as the foundation for

new versions of these rules and regulations.

Independent Variable Dependent Variable

Profile of the Enterprises

 Nature of Operation
 Number of Years in
Operation
 Capitalization
 Number of Employees

Level of Awareness that

affects the adoption of E –
wallets Level of Awareness of
 Usefulness Micro and Small
Enterprises
 Ease of Use
 Risk
 Trust

Barriers that Hinder the

Adoption of E-wallets of the
Micro and Small Enterprises
35

Figure 2

Conceptual Paradigm of the Study

Notes

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electronic payment systems adoption in developing countries: an empirical

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moderation effect of gender on accepting electronic payment technology:

a study on United Arab Emirates consumers. Review of International

Business and Strategy, 31(3), 375–396. https://doi.org/10.1108/ribs-08-

2020-0102

Ajmera, H., & Bhatt, V. (2020a). Factors affecting the consumer’s adoption of E-

wallets in India: An empirical

study. ResearchGate. https://www.researchgate.net/publication/34304166

36

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Bangko Sentral ng Pilipinas. (n.d.). BSP Digital Payments Transformation

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Cacas, A., Diongson, M. a. A., Olita, G., & Perkins, R. (2022). Influencing Factors

on Mobile Wallet Adoption in the Philippines: Generation X’s Behavioral

Intention to Use GCash Services. Journal of Business and Management

Studies, 4(1), 149–156. https://doi.org/10.32996/jbms.2022.4.1.18

Chaves, S., Iturralde, E., King, N. M. C., & Rosendo, R. J. R. (2019). Industry

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Daragmeh, A., & Bárczi, J. (2021). Assessing the Degree of Compliance with

TQM Practices : Study of Banking Sector in Palestine. Hungarian

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Kınış, F., & Tanova, C. (2022). Can I Trust My Phone to Replace My Wallet? The

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0229
41

Chapter 3

RESEARCH DESIGN AND METHODOLOGY

This chapter presented a discussion of design and methodology. It also

discussed the methods and procedures used to achieve the purposes of the

study. In addition, it described the research design, source of data, respondents

of the study, sampling technique, and data gathering procedures, as well as the

tools for analysis and instruments used by researchers to attain the objectives of

the study.

Research Design

The descriptive-comparative research method was used in this study as

part of the quantitative research in order to achieve the objectives of the study,

which include measuring the level of awareness of micro and small enterprises to

the adoption of e-wallets in Camarines Norte. According to Bhandari (2022),

quantitative research referred to the process of gathering and examining a

variety of numerical data. It can be used to find patterns and data, assess causal

relationships, make predictions, and generalize results to larger populations.

42

In particular, the descriptive-comparative research design was used in this

study in order to describe the relationship of variables as well as the changes

that take place between the variables that were presented. A demographic,

circumstance, or occurrence was aimed at being accurately and methodically

described through the use of descriptive research. This descriptive research

design can adopt a wide variety of research methods in order to investigate one

or more variables (McCombes, 2022). In accordance with this study, it referred

to the profile of the nature of the operation, number of years in operation,

capitalization, and number of employees. This research design was the one that

was most suited to and appropriate to this study to help in the collection of

accurate information, which was obtained through the use of a survey

questionnaire. Ordinal data, Likert scale and checklist were included in the

primary data that this method used to get sufficient and accurate interpretations.

Sources of Data

The information can be obtained from the primary source, which had an

essential role in the process of gathering the necessary information. It served as

the basis of the study to establish important information that showed the level of

awareness that affected the adoption of e-wallets. The researchers personally

collected the information from the respondents. It entailed the use of survey

questionnaires in the process of data collection from the respondents.

Respondent of the Study

This study aimed to determine the extent to which micro and small

companies (MSEs) in Camarines Norte were aware of the potential benefits of

incorporating electronic wallets into their operations. The study's respondents

43

were owners or managers of MSEs in the said province who were selected

through purposive sampling. In addition, the list of respondents will be gathered

from the list of registered businesses in the DTI.

The study also discovered that there needed to be more information and

knowledge on the most significant factor affecting the adoption of e-wallets

among MSE’s. There was also the need for more infrastructure, trust, and

security. The research findings indicated that micro and small -sized enterprises

(MSEs) should be provided with appropriate training and education on the

benefits of using e-wallets in their businesses.

Research Instruments

The questionnaire was the primary data source for this research. The

researcher was able to assess the adoption of e-wallets and their degree of

awareness in micro and small businesses using the questionnaire. For this

analysis, the researchers developed a four-part self-administered questionnaire

to gather the data. The first section of the questionnaire collected information

about the respondents' profiles, including the sort of enterprises they

represented, their areas of operation, how long they had been in business, their

capitalization, and the number of employees. Part 2 focused on evaluating the

level of knowledge that influenced the adoption of e-wallets, as well as perceived

usefulness, ease of use, risk, and trust. The barriers that prevented the adoption

of e-wallets and the significant difference between the level of awareness of

micro and small businesses were discussed in Part 3. Based on the degree of

awareness and e-wallet adoption, they were rated using a 4-point Likert scale.
44

The questionnaire was created to address the specific objectives of the

research. The format was brief and simple to understand to avoid confusion

when answering questions. Additionally, the survey questionnaire was modified

to include the appropriate instrument for the research.

Data Gathering Procedure

This data gathering procedure was one of the most important components

of this study because it was essential to the process of gathering reliable data.

As a result, the researchers chose a tool that would confirm and respond to the

study's premise.

The researcher took action to collect the information required to carry out

this investigation. The vast majority of the information will be gathered from

respondents' responses. The survey questionnaire that the researchers had

created served as the basis for their answers. For the purpose of validating the

responses, the researchers conducted an informal interview with them. The

researcher created and produced a survey questionnaire as part of the data

collection process. The instrument was used, checked, and verified by experts in

order to obtain accurate and trustworthy data. The experts checked the

instrument for grammatical and semantic errors in order to prevent mistakes

when asking questions and misinterpretations of the indicators. These also

aimed to provide answers to the primary research questions listed in the study's

primary research question.

Additionally, the researcher will conduct a dry run with 20 respondents

who were not a part of the original group of respondents in order to assess the

suitability of the survey questionnaire. From there, the researcher will use a
45

statistical tool called Cronbach Alpha to assess the internal consistency of the

survey questionnaire.

Before administering the questionnaire, the participants would receive a

consent document from the researchers. If the researchers were permitted to

collect data from them using questionnaires, they must obtain their permission

and consent. The researchers' intentions, the institution's goals, and the advisers'

signatures were all mentioned. After receiving permission, the researchers

conducted a number of surveys among Camarines Norte's small and micro

businesses. The data gathering was done within a face-to-face setup as it was

personally given to them by the researchers. This was to guarantee that they

responded to the survey's questions.

The collected data were then evaluated, organized, and analyzed. Each

questionnaire was checked and examined so that the researchers can quantify

and understand the data. The researchers drew conclusions from the poll

questionnaires, formed interpretations, and gave recommendations that

significantly improved society and the body of knowledge.

Statistical Tools

Using descriptive and inferential statistics, the data collected from the

SMEs through the questionnaire were analyzed, tabulated, and interpreted.

Specifically, the study employed the following statistical tools:

Percentage It was employed as a statistical tool to compute the rate or

proportion of responses for each item in the questionnaire. By doing so, the data

were quantified, and an overview of the response distribution was established.

46

Mean It provided a measure of the central tendency of the data. It

computed an average value of the responses, allowing for comparison and

evaluation of the different variables involved in the study.

Frequency Count It was also utilized to identify the frequency of specific

responses in the data set. This statistical tool facilitated the detection of the most

prevalent and least frequent responses, which were then used to deduce

patterns and trends in the data.

Ranking The data were recorded using ranking so they were ordered by

rank, either from smallest to largest or from largest to smallest. It was a data

transformation in which numerical or ordinal values were replaced by their rank

when the data were sorted.

Analysis of Variance (Anova) This statistical test was used to determine

if there was a statistically significant difference between two or more categorical

groups by testing for differences of means using a variance.

47

Notes

Bhandari, P. (2022). What Was Quantitative Research? | Definition, Uses &

Methods. Scribbr. https://www.scribbr.com/methodology/quantitative-

research/

McCombes, S. (2022). Descriptive Research | Definition, Types, Methods &

Examples. Scribbr. https://www.scribbr.com/methodology/descriptive-

research/

Miller, M. K. (2010). Classical Test Theory Reliability. Elsevier BV, 27–

30. https://doi.org/10.1016/b978-0-08-044894-7.00235-9
48

CHAPTER 4

ANALYSIS AND INTERPRETATION OF DATA

This chapter contained the presentation and analysis of data gathered by

the researchers with the use of survey questionnaires. Findings were made with

the use of percentage, weighted mean, ranking and Analysis of Variance

(ANOVA). The order of presentation was based on the arrangement from the

specific problems raised in the study and presented in figures and tabular form

for better understanding of the topic.

The core objective of this study was to assess the level of awareness of

micro and small to the adoption of e-wallets in Camarines Norte. The data were

set into five main parts: profile of the business; level of awareness that affected

the adoption of e-wallets towards enterprises; the significant difference between

the level of awareness of micro and small enterprises to the profiles; the barriers

that hindered the adoption of e-wallets among micro and small enterprises; and

the strategies that can be developed to promote the adoption of e-wallets.

49

Profile of the Respondents

Table 1 to 4 presented the profiles of the enterprises in Camarines Norte as

respondents of the current study. The variables used were limited to the nature of

operation, number of years in operation, as to capitalization and number of

employees.

As it identified the current knowledge gap that had to be filled with credible

results or outcomes, the analysis of the enterprise profiles aided in providing a

foundation for the study problem analysis.

Nature of Operation. This study considered the types of enterprises as

part of the profile of the respondents. The table showed four (4) types of

operation of enterprises in Camarines Norte. The table revealed that the highest

frequency was 60 respondents or 50 percent from retail while the lowest

frequency was two respondents or 1.7 percent from manufacturing.

Table 1
Profile of the Respondents as to Type
Nature of Operation Frequency Percentage
Retail 60 50%

Merchandising 7 5.80%

Manufacturing 2 1.70%

Service 51 42.50%
Total 120 100%
50

This implied that most of the registered enterprises in Camarines Norte

were Retailers. The majority of people choose to operate an enterprise in retail.

Considering they had limited capital, a smaller number of employees, and

minimal reporting requirements to the government, it was expected that owners

of micro and small enterprises would decide on the most straightforward and

minimal structure for their enterprises. This can be attributed to the fact that the

process of setting up a retail business was less difficult and complex than setting

up a manufacturing, service, or merchandising operation.

This finding was supported by the study of Dagnino (2023) which stated that

retail was one of the global industries that had grown rapidly in all countries

throughout the world. This was the reason why most of the investors preferred to

invest in the retail sector. This also depended hugely on a reliable chain of

vendors who provided it with the requisite raw materials and other

resources. This explained how the collected data were presented and analyzed

using survey questionnaires (Gikonyo, 2022).

However, there were only two manufacturing operations represented among

the 120 respondents in this survey. This particular sector may be capital-

intensive, which required significant investments in equipment, facilities, and

employees. It was also frequently dependent on a dependable supply chain for

raw materials and other resources.

This was in line with Pauli and Thoren (2020)’s findings that underscored the

capital-intensive nature of the manufacturing sector, providing a backdrop that

supported the rationale behind transitioning to a performance-based approach.

The traditional manufacturing landscape, as highlighted by the authors, was

51

evidently marked by challenges and limitations for enterprising ventures. The

challenges identified in this study—namely, the augmentation of assets in the

balance sheet, the reconfiguration of cash flow dynamics, and the restructuring of

organizational frameworks—mirrored the complexities suggested by Pauli and

Thoren. Such challenges substantiated the proposition that manufacturing, being

capital-intensive, necessitated innovative approaches for sustainable business

practices.

Most people preferred a retail business since it was convenient. It was

expected that the proprietors of micro and small enterprises would opt for having

the simplest form of organization for the management purposes. The

establishment of retail operations was considered somewhat easier as compared

to other activities such as setting up manufacturing, services, or merchandising

businesses.

Number of Years in Operation. This study considered the number of years

in operation as part of the profile of the respondents. It was also important to

include the number of years in operation to analyze their years of operation of the

enterprises because it had an impact of the level of awareness of micro and

small enterprises and the possible barriers that hindered the adoption of e-

wallets. The table showed the distribution of the respondent in terms of the length

of the enterprise operation gathered from the respondents in a form of

questionnaire. The table presented below revealeed that 68 respondents or 57

percent existed for one to three years while 18 respondents or 15 percent for

seven to nine years.

52

Table 2
Profile of the Enterprises as to Number of Years in Operation
Number of Years in
Frequency Percentage
Operation
1-3 Years 68 57%

4-6 years 34 28%

7 -9 years 18 15%

Total 120 100

It indicated that the majority of businesses were still in the one to three-

year startup phase of their operations. To maintain, surpass, and withstand those

three years of criticality and pursuit as fully operational businesses, better

strategies needed to be put into place. Because of their service and exposure to

the business, they might now be aware of the efforts, promotions, and trends to

embrace the other competencies. This explained why most of the companies

folded up within a year or three. All things considered, it was clear that 57% of

respondents had only been in operation for one to three years, indicating that

they lacked experience in running day-to-day administration.

The findings from the study of Trinugroho et al. (2021) showed that those

who were more likely to embrace digital-based businesses were relatively less-

established ones. These findings took into account the flexibility and adaptability

of digital-based businesses to changing surroundings as well as their strategic

internal capability-building to sustain performance. More established companies

may view innovations such as the adoption of digital payments as a disruptive

force that could impact their current procedures and operations, which will likely
53

reduce their interest in adopting. This result demonstrated that older businesses

were less able to take advantage of technology breakthroughs since they were

more established and highly specialized.

However, there were 18 respondents that have existed for seven to nine

years in Camarines Norte. This implied that these businesses were aware of how

to overcome challenges and continue operating for extended period of time.

According to several respondents, it was much harder to keep the businesses

operating in the earlier years than in the later ones since the latter years’

businesses had to be more well-known and established than the former.

Furthermore, this meant that very few businesses have made it through the

difficult times and overcame obstacles throughout time to establish themselves

as some of Camarines Norte’s pioneering businesses. According to Ellitan

(2020), these companies were confident in their ability to address the problem,

such as continuing to operate for a considerable amount of time.

Capitalization. This study considered the capitalization of enterprises as

part of the profile of the respondents. It was important to include the capitalization

of the enterprises in order to examine its effect to the enterprises in relation to

adoption of e-wallets. It had an impact in the level of awareness of micro and

small enterprises and to the adoption of e-wallets. The classification was based

on their level of capitalization that included Micro and Small Classification. The

table showed the distribution of the respondents in terms of their capitalization

size. According to the table, four respondents, or three point four percent, had a

capital of ₱3,000,000 to ₱10,000,000 (Small Classification of Enterprises), while

54

100 respondents, or 83 percent, had a capital of ₱ 3,000,000 to below (Micro

Classification of Enterprises).

Table 3
Profile of the Enterprises as to Capitalization
Capitalization Frequency Percentage
300,000 – below 100 83.30%
300,001 – 1,000,000 10 8.30%
1,000,0001 – 3,000,000 6 5%
3,000,001 – 10,000,000 4 3.40%
Total 120 100

The result implied that the enterprises in the province of Camarines Norte

were predominantly micro in capital size; however, it was not impossible to

remain in business even with limited capital. According to the data, that they

were able to endure competitors and business obstacles for more than ten years

despite having a capitalization of only 300,000 to below. Some respondents said

that since the majority of the member were from lower-class municipalities with

lower income level, it was more realistic to achieve that than enormous amounts.

This implied that a cooperative’s limited current capitalization worth was enough

to sustain operations; hence they were able to survive business.

According to Adomako (2020), some businesses focused only on their core

competencies, which may or may not result in a significant labor need. In

addition, table 3 revealed that the majority of respondents had an enterprise

capitalization not exceeding the Micro Category of Enterprises amounting to

PHP3 million in total. As a result, a large number of Camarines Norte’s micro and

small businesses lacked sufficient funding, which made it difficult for them to
55

decide whether to adopt e-wallets technology. The capitalization of enterprises

was one of the most important factors influencing the adoption of e-wallets by

micro and small enterprises since it affected perceived value (Hernandez et al.,

2022). Based on their capitalization volume, this micro and small classification

was made.

Number of Employees. This study considered the number of employees

as part of the respondent. The table below showed the distribution of the

respondents in terms of number of employees. According to the table, 105

respondents, or 87.5%, stated that they had one to ten employees, which had the

most frequency. Ten respondents, or 8.3%, stated having employees with 11 to

20 employees. With two respondents, or 2.5 percent, employees of 100 and

above had the lowest frequency.

Table 4
Profile of the Enterprises as to Number of Employees

Number of Employees Frequency Percentage

1 – 10 105 87.50%
11 – 20 10 8.30%
21 – 40 3 2.50%
100 - above 2 1.70%
Total 120 100%

According to the data, most micro and small-scale enterprises only had one

to 10 employees. Typically, the number of employees was determined by the

nature, capitalization, and volume of the enterprises. The MSEs only employed a

small workforce because they were in the trade sector and there was a limited
56

amount of activity. The most important characteristics of micro and small

enterprises were that they kept the size and scope of operations reasonable and

managed every responsibility related to operating their enterprises by

themselves.

Similarly, they preferred completing duties without employing too many

people; even the world's most successful micro-enterprises employed less than

ten individuals. One potential explanation for this finding was that approximately

seven out of ten workers worldwide were self-employed or hired by small

enterprises, according to an ILO (2019) study. Self-employment and micro-

enterprises accounted for more than 80% of employment in South Asia.

Meanwhile, 100 and above employees for their enterprises had the lowest

result. This indicated that large companies were the only ones with a large

number of workers across all of their branches. Some businesses did not need a

large workforce because they were solely focused on their business operations.

In another study, Buer et al. (2021) found that compared to small and

medium-sized businesses, large organizations had a higher level of

organizational information technology competency and digitalization based on

the number of employees. In terms of firm size, firms with a higher number of

employees or relatively large ones were more likely to shift to digital payment

than smaller ones. Larger firms in terms of the number of employees may

indicate human resources capabilities – indicating adequate talents, skills,

expertise, and exposure that were crucial for companies in implementing

innovative strategies. Smaller firms may lag behind since their resources were
57

more allocated for sustaining operations instead of innovation investments, which

they may find as an additional cost.

This may be a reflection of micro and small enterprises, which commonly

preferred employing a small number of employees. It classified a micro and small

enterprise as a business that employed a small number of employees, usually

operated with fewer than 10 people, and began with a small amount of capital.

Level of Awareness that Affected

The Adoption of E-Wallets
Towards Enterprises
The tables presented the data on the level of awareness of micro and small

enterprises. The awareness of micro and small businesses was intended to

provide a foundation for the analysis of the primary goal of the research, which

was to ascertain whether there was a significant difference between the adoption

of e-wallets.

Tables 5.1, 5.2, 5.3 and 5.4 showed the tabulated data about the level of

awareness that affected the adoption of E-Wallets towards enterprises in terms

of the following variables: (a) Usefulness, (b) Ease of Use, (c) Risk and (d)
58

Trust. Each of the variables have 5 indicators supported by comprehensive

discussion, analysis, and interpretation.

The Level of Awareness that Affected the Adoption of E-Wallets towards

Enterprises in terms of the variable of usefulness was shown in Table 5.1, in that

most micro and small enterprises agreed with “I believe e-wallet would help

speed up payment transaction in my business” with the highest weighted mean

of 3.78 and a verbal interpretation of strongly agree.

On the other hand, “Using e-wallet could make it easier to keep track of

business expenses and payments” had the lowest weighted mean of 3.56 which

was interpreted as strongly agree.

Table 5.1
Level of Awareness that Affected the Adoption of E-Wallets towards
Enterprises - Usefulness
Indicators Weighted Mean Interpretation
Usefulness
1. I believe e-wallet would help speed up
3.78 Strongly Agree
payment transaction in my business.
2. E-wallet could simplify financial
transactions, making it easier to manage 3.68 Strongly Agree
my business.
3. I think e-wallet could save me time,
making financial transactions more 3.65 Strongly Agree
efficient.
59

4. Using e-wallet could make it easier to

keep track of business expenses and 3.56 Strongly Agree
payments
5. I think e-wallet could improve my cash
flow management by providing real-time 3.6 Strongly Agree
transaction updates.
Overall Weighted Mean 3.6 Strongly Agree
Legend: 1.00 - 1.75 = Strongly Disagree 1.76 - 2.50 = Disagree 2.51 - 3.25 = Agree 3.26 - 4.00 = Strongly Agree

The highest-weighted mean was found in the variable of usefulness with the

indicator "I believe e-wallets would help speed up payment transaction in my

business". This meant that most of the respondents held a view that e-wallets

may speed process for payments in their trade (Karim et al., 2022). This was true

as it enabled people to transact more quickly than the conventional means of

payments. Perceived usefulness was described by Ventre and Kolbe (2020) as

the ability of an innovation in technology to help someone achieve their goals.

Meanwhile, the indicator “Using e-wallet could make it easier to keep track

of business expenses and payments” accumulated the lowest weighted mean of

3.56. Despite this, it was also interpreted as ‘strongly agree’ along with other

indicators, which evoked the idea that an e-wallet was useful for speeding up

business payments, simplifying financial transactions, saving time, improving

cash flow management, tracking expenses and payments, and providing real-

time transaction updates.

Due to the digital features of e-wallets, money can be transferred between

accounts with a lot more speed compared to traditional methods such as checks.

It was convenient for users since it was less expensive and saved a significant
60

amount of time given that it made the transaction faster with more

effective processing payments, which resulted in cost savings and assurances

that mobile payment would enhance their performance in daily activities.

The study took into consideration the level of awareness that affected the

adoption of E-Wallets towards enterprises in terms of the variable of ease of use.

The results of this study were tabulated and can be seen in Table 5.2. “I think the

e-wallet interface would be user-friendly for myself and my employees” garnered

the highest weighted mean score of 3.54, showing the viewpoint of the majority

of respondents who strongly agreed with this statement. On the other side, the

statement “I think that navigating through the e-wallet application would be

straightforward” had the lowest weighted mean score of 3.33.

Table 5.2
Level of Awareness that Affected the Adoption of E-Wallets towards
Enterprises – Ease of Use
Weighted
Indicators Interpretation
Mean
Ease of Use
1. I believe that my team and I would easily Strongly
3.43
learn how to use the e-wallet. Agree
2. I think that navigating through the e-wallet Strongly
3.33
application would be straightforward. Agree
61

3. Mastering the use of e-wallet would likely Strongly

3.41
come naturally to me and my team. Agree
4. I think the e-wallet interface would be user- Strongly
3.54
friendly for myself and my employees. Agree
5. I believe that routine financial task would Strongly
3.4
be easier to accomplish using e-wallet. Agree
Strongly
Overall Weighted Mean 3.4
Agree
Legend: 1.00 - 1.75 = Strongly Disagree 1.76 - 2.50 = Disagree 2.51 - 3.25 = Agree 3.26 - 4.00 = Strongly Agree

The weighted mean was highest in the case of the variable “ease of use”

with the indicator “I think the e-wallet interface would be user-friendly for myself

and my employees.” Conversely, most of the respondents agreed that the

millennium e-wallets were user friendly in their business transactions. The use of

e-wallet was justified by these points because e-wallets were easy to use and

user-friendly. As an outcome of this, many individuals chose to use strategies

that were straightforward and user-friendly rather than the traditional way. They

understood the context of the e-wallet development and its absorption into

everyday life. Since they were knowledgeable, they assessed both the quantity

and quality of their e-wallet usage. Many people believed that utilizing a particular

system would be free of physical and mental effort.

These findings were supported by the research of Bakar et al. (2020) which

stated that e-wallets provide a user-friendly cash reload system using cash,

debit/credit cards, and bank transfers. E-wallets were easy to use due to their

straightforward administration, speedy processing of payments, multitude of

merchants that accepted them, and straightforward payment process. This was

in line with the Enfuce (2022) article, which claimed that ease of payment was a
62

key selling point that helped both customers and businesses. Inconvenient

payment process was a major cause of customer attrition. As a result, a lot of

retailers were implementing digital wallets to allow customers to use their chosen

payment methods.

On the other hand, the indicator, “I think that navigating through the e-wallet

application would be straightforward” had the lowest weighted mean when

relating to the Adoption of E-wallet in terms of the variable of ease of use. This

was due to the fact that the majority of respondents believed that the system

would be easy to use. There were a lot of individuals who use e-wallets, which

meant that there was a probability that there will be an issue. According to this

study, one factor influencing an enterprise's decision to adopt an e-wallet was its

simplicity of use (Kustono et al., 2020). The findings also implied that, in order to

increase system usage, e-wallet service providers should simplify their interfaces

for consumers (Tian et al., 2023). According to the study of Belanche et al.

(2020) defined compatibility as the degree to which digital wallets complemented

a consumer's lifestyle. The more willingness there was to use e-wallet, the more

favorable the businesses' environment was toward the new technology. It greatly

enhanced the user experience and gave the business an easily accessible way

to market mobile apps (Vibes, n.d.).

Table 5.3 presented the results of this study's tabulation of the level of

awareness that affected the adoption of E-Wallets towards Enterprises in terms

of the risk variable. The majority of respondents agreed with the statement "I

have concerns about whether e-wallet would adequately protect my business’s

sensitive financial information" with a weighted mean of 3.29, which was

63

interpreted as Strongly Agree. Meanwhile, the statement "I question whether e-

wallet would effectively resolve any issues or disputes that may arise" had the

lowest weighted mean of 3.08.

Table 5.3
Level of Awareness that Affected the Adoption of E-Wallets towards
Enterprises – Risk
Weighted
Indicators Interpretation
Mean
Risk

1. I have concerns about whether e-wallet

would adequately protect my business’s 3.29 Strongly Agree
sensitive financial information.

2. I am not sure if using e-wallet would lead to

unauthorized use of my business’s financial 3.14 Agree
data.
3. I worry about possibility of hackers
3.23 Agree
accessing my business’s financial data.
4. I am not sure if I can trust the e-wallet
service provider with my business’s financial 3.12 Agree
data.
5. I question whether e-wallet would effectively
3.08 Agree
resolve any issues or disputes that may arise.
Overall Weighted Mean 3.1 Agree

Legend: 1.00 - 1.75 = Strongly Disagree 1.76 - 2.50 = Disagree 2.51 - 3.25 = Agree 3.26 - 4.00 = Strongly Agree

The highest-weighted mean was found in the variable of risk with the

indicator “I have concerns about whether e-wallet would adequately protect my

business’s sensitive financial information.” E-wallets were intended to make life

easier. One must, however, be conscious of any possible risks that come with

storing all personal and financial information in an unsecured location. This

implied that many of the respondents have insecurity in their transactions while
64

utilizing E-wallets (Vitug, 2023). However, this was a reasonable concern since

e-wallets contained sensitive data about persons’ identities and finances which

should be guarded against possible malicious acts. Businesses can track

customer movements with mobile phones through mobile payment systems.

Customers were therefore worried that making payments online would not

prevent them from seeing internet advertisements. Chen (2018) discovered that

consumers typically assume that mobile payment fees were high when security

concerns were high. The general availability of security threats made mobile

payment difficult.

Additionally, most of the time consumers were unaware that their

information was being captured and used for unwanted motives. This result was

supported by the study of Widodo et al. (2019) in which there was perceived risk

(PR) or the possible loss that users assumed when they made purchases. Users

hesitated while making a purchase, especially one that was expensive (Razif et

al., 2020). There were risks associated with using e-wallets, including the

exposure of personal data to unauthorized parties. For that reason, a financial

technology solution must have strong information security and safety.

According to this study, enterprises were concerned about the potential of

sensitive financial information being obtained or leaked when employing e-

wallets (Lai and Liew, 2021). These problems highlighted the need for e-wallets

to implement strong information security and protection measures (Suryanto et

al., 2020).

On the other side, the statement “I question whether e-wallet would

effectively resolve any issues or disputes that may arise” had the lowest
65

weighted mean of all the indicators, which was interpreted as "agree." The

results of this table demonstrated that those responsible for micro- and small-

scale enterprises were still hesitant about the effectiveness of e-wallets. This was

a result of the fact that the entity had a relatively high chance of being subjected

to risk. In Hong Kong, Wong and Mo (2019) discovered that customer intention to

use mobile payment was strongly influenced by perceived risk. In the event of

fraud, personal culpability could be considered one of the highest hazards. Digital

wallet frauds were not covered by fraud insurance, as was typically stated in

terms and conditions.

The findings of this study's tabulation of the level of awareness that affected

the adoption of e-wallets towards enterprises in terms of the trust variable were

shown in Table 5.4 below. The statement "I have faith in the encryption and

authentication protocols used by the e-wallet application to ensure the safety of

my transaction" garnered a weighted mean score of 3.34, which may be taken as

Strongly Agree from the majority of respondents. On the other hand, the

statement "I believe that the e-wallet application I use was secure and

trustworthy for conducting financial transaction" had the lowest weighted mean of

3.26.

Table 5.4
Level of Awareness that Affected the Adoption of E-Wallets towards Enterprises
- Trust
Weighted
Indicators Interpretation
Mean
Trust
1. I feel confident that my personal and 3.31 Strongly Agree
66

financial information was protected when

using an e-wallet application.
2. I believe that the e-wallet application I use
was secure and trustworthy for conducting 3.26 Strongly Agree
financial transaction.
3. I trust that the e-wallet application has
reliable security measures in place to protect 3.3 Strongly Agree
my sensitive information.
4. I have faith in the encryption and
authentication protocols used by the e-wallet
3.34 Strongly Agree
application to ensure the safety of my
transaction.
5. I have a positive perception of the e-wallet
application’s reputation for maintaining the 3.3 Strongly Agree
privacy and security of its user’s data.
Strongly
Overall Weighted Mean 3.3
Agree
Legend: 1.00 - 1.75 = Strongly Disagree 1.76 - 2.50 = Disagree 2.51 - 3.25 = Agree 3.26 - 4.00 = Strongly Agree

The highest scored measurement was “I have faith in the encryption and

authentication protocols used by e-wallets application to ensure the safety of my

transaction.” Therefore, majority of the respondents believed it will be safe for

them to use e-wallets to protect their personal and confidential information. It has

been pointed out that, for example, e-wallets do this under encryption and other

security practices for users’ data. In general, the research showed that the MSEs

in Camarines Norte saw benefits in the use of e-wallets but worried about

transaction security. Strategies can be crafted to address these fears towards e-

wallet adoption in MSEs promotion, thereby increasing general awareness

towards e-wallets.

This meant educating companies about the safety measures implemented

for electronic wallets and providing guidance on their safe use. Additionally,

loyalty awards may be added by e-wallet service providers as rewards for

67

effectively utilizing their protected technologies (Ahmad and Wen, 2023). In the

long run, addressing organizational concerns about transaction security will

significantly boost the rate of e-wallet adoption (Tenk et al., 2020).

However, the indicator “I believe that the e-wallet application I use was

secure and trustworthy for conducting financial transaction” had the

lowest weighted mean when it came to management trust. This was because the

management was afraid of online frauds in using the e-wallet. It was supported

by the study of George and Sunny (2021). They stated that trust was defined as

the extent to which consumers perceived a mobile wallet application provider to

be trustworthy in terms of security, reputation, and sought to provide regulatory

assistance. It was probable that the concept of trust referred to consumer

confidence in utilizing and relying on technology with the assurance that user

data was safe, user privacy was protected, and user interests were well served.

Test for Significant Difference between the

Profile of the Enterprises and their
Level of Awareness of Micro and Small
Enterprises to the Adoption of E-Wallets

The study also aimed to determine whether there was a significant

correlation between the profile of the enterprises such nature of operation,

number of employees, capitalization and number of employees and the level of

awareness of micro and small enterprises to adopting e-wallets. The

aforementioned factors’ significant differences were determined using the

68

Analysis of Variance. Table 6 showed that the profile of enterprises had no

significant relationship to the level of awareness of micro and small enterprises to

adoption of e-wallets. The study’s null hypothesis was dismissed since there was

no correlation between the profile of enterprises and the level of awareness of

micro and small enterprises to adoption of e-wallets, with a significant level of

0.881.

Table 6
Analysis of Variance of significant difference between the Level of
Awareness of Micro and Small Enterprises
Based on their Profiles

Sum of
Sources of Variation Df Mean Square F Sig.
Squares

Between Groups 1 14 0.071 0.561 0.881

Within Groups 5.732 45 0.127

Total 6.732 59
Note: N population, p<.05*, p<.01**

The table above was the result of the one way ANOVA ((F(14,59) = .561 ,

p + .881) which showed that there was no statistical difference between the

groups. It implied that the level of awareness of micro and small enterprises did

not differ significantly in terms of nature of operation, number of years in

operation, capitalization and number of employees. One plausible reason could

be enterprises operation might not have an impact on the adoption of e-wallets.

One-way ANOVA test to find out whether the different levels of awareness

among micro and small enterprises depended on their profile. Therefore, in this

regard, there were no marked differences in the extent of awareness among

69

micro and small enterprises across the above variables. (Chibbonta and

Chishimba, 2023) However, one possible explanation for the results was that the

type of business operation may not matter when making e-wallet adoption

decisions. Micro as well as small enterprises may have the same issues and

benefits irrespective of the type of business for implementation of e-wallets.

Nevertheless, more studies should be done to establish what made the micro

and small enterprises in Camarines Norte adopt e-wallets. According to Anakpo

et al. (2023), it can be used to build specific programs that promote uptake of e-

wallets services and the improvement of financial inclusion among micro and

small enterprises within the area.

Barriers that Hinder the Adoption of E –Wallet

Table 7 presented the data on the perceived barriers that hindered the

adoption of e-wallets. The respondents aimed to impart a basis for the analysis of

the research main objectives which was to determine the instances that hindered

the adoption of e-wallets. “I am concerned of potential loss of theft of my device

with e – wallet access was a significant concern for my business” garnering the

highest rank meant that respondents were aware that there might be potential

loss when accessing the e-wallets. This was one of the main reasons why many

of business owners do not use e-wallets on their business operation. Unlike e-

wallets, there was no accountability for stolen or lost cash since there were

minimal identifying factors. In April 2022, 981 theft cases were reported in the

Philippines; these cases accounted for almost 37% of all focus crimes (Canete,

2022). “Using the e-wallet may cause technical problems like connection
70

difficulties that hinder the speed payment transaction” was second among the

indicators. E-wallets need internet or data connectivity because they cannot be

used offline. According to Kemp (2022), this made it extremely inefficient in

places with little to no internet connectivity, which was a persistent problem in the

country as 32% of people were expected to be offline at the beginning of 2022.

“I worry that my customers may not accept or trust e-wallet as payment

method, affecting my sales” as the third rank. For in-store transactions, Filipino

consumers believe that cash was reliable, user-friendly, and responsive, while e-

wallets were practical, safe, and entertaining. When it came to in-store

purchases, cash and e-wallets both functioned well and were transparent. Even if

cash was a more reliable method of payment, the BSP's 2019 research revealed

that 39% of Filipinos did not trust digital or e-wallet payments.

This meant that most people would reject e-wallets as a form of payment in

Camarines Norte since this would affect the businesses’ earnings. The

introduction of e-wallets was to improve business dynamics (Pinem et al., 2023)

This table showed that there were advantages to micro and small business

enterprises located in Camarines Norte for using e-wallets but not much in the

aspect of security, technical problems, and customer acceptance including trust.

According to Ciptarianto (2022), these fears could be addressed through

strategizing on ways of educating the small and medium enterprises to promote

acceptance and raise awareness about e-wallets generally. It may educate

enterprises about the security features of electronic wallets while showing them

how they can use them properly. Such incentives could include provision of

discounts, promotions and even loyalty points that will enhance security of the
71

system. Thus, ensuring that the worries surrounding transactional security by

businesses about uptake of e-wallets became an issue.

Table 7
Barriers that Hinder the Adoption of E – Wallet
Indicators Total Ranking
1. Using the e-wallet may cause technical problems
like connection difficulties that hinder the speed 91 2
payment transaction.
2. Using an e – wallet concerns me since it could not
be compatible or accepted everywhere. All e – wallet 65 6
payment were not accepted by all businesses.
3. I am concerned that there may be problems with
78 4
transaction when using an e – wallet.
4. The complexity of using e-wallet registration and
36 14
verification process was not a barrier to adoption
5. The involvement of different features and option
available in an e-wallet application was not a barrier 37 12
to adoption.
6. I am concerned that by using an e-wallet, my
personal information may be exposed to businesses 65 7
without my permission.
7. I have concern regarding the security of
76 5
exchanging personal information through e -wallet.
8. The use of e-wallet concerns me since it will lead
48 9
to an increase of internet fraud.
9. I am not worried that my personal and financial
information may be stolen when using an e-wallet 26 18
application
10. I am not skeptical about the security features
19 20
provided by e- wallet application.
11. I am confident that unauthorized transaction will
26 19
not occur when I am using an e – wallet application.
12. I am apprehensive about whether my suppliers,
vendors, and partners will accept payments through 37 13
E-Wallet, which might complicate transactions.
13. I am concerned about the learning curve and the
time it might take for me and my employees to 33 16
become proficient at using e-wallet.
14. I fear that resolving issues or getting customer
support for e-wallet could be time consuming and 59 8
impact my business operations.
15. I fear that frequent updates or changes in e-wallet
33 17
features might disrupt my business operations.
16. I worry that e-wallet service may not be reliable, 46 10
72

with possible network or system downtime may affect

my business operation.
17. I am apprehensive that using e-wallet might make
35 15
my business a target for cybercriminals.
18. I am concerned about the potential difficulty of
43 11
training employees to use the e-wallet system.
19. I worry that my customers may not accept or trust
79 3
e-wallet as payment method, affecting my sales.
20. I am concerned of potential loss of theft of my
device with e – wallet access was a significant 95 1
concern for my business.

On the other hand, “I am not skeptical about the security features provided

by e- wallet application” was the lowest among all the indicators given below.

According to Kar (2021), there were important concepts that were thought to

have an impact on how satisfied Indian consumers were with mobile payments.

The factors related to the reliability of the account information of users and

merchants were trust, information risk, security, privacy, and confidentiality; on

the other hand, social influence allowed users to establish a perceived support

network for experimenting with new technologies and determine their comfort

level with them. The customer's attitude was reflected in all of these variables,

and this was another aspect to take into account when assessing their behavioral

intention and level of e-wallet usage pleasure. “I am not worried that my personal

and financial information may be stolen when using an e-wallet application” was

the lowest indicator. However, many customers continued to have doubts about

the reliability of e-wallets because they involved sensitive information such as

credit card numbers and account balances, according to Ates (2019). Moreover,

the public's use of digital payments has increased despite the weakening of
73

economic activity brought on by social restraints. People's preferences for

transactions shifted from cash to non-cash as a result (Musyaffi et al., 2021).

“I am confident that unauthorized transaction will not occur when I am

using an e – wallet application” was the third lowest indicator. Yakean (2020)

brought attention to the increased risk of financial fraud and cybercrime arising

from the use of e-wallets for online transactions, as they opened up the

possibility of scams and hacking. Additionally, Sharma and Sharma (2019) noted

that there was a higher danger of privacy and protection in digital transactions.

Since e-wallets were customized services, unique and personal data were kept in

the system and needed to be handled with the highest secrecy and security to

prevent fraud. These results, however, stood in contrast with those of Huang et

al. (2020) and Suri (2017), which concluded that digital payments reduced

transaction frictions, apparent costs, and invisible attrition such as theft, making

payments and remittances more safe. This finding suggested that respondents'

negative opinions of the e-wallet service image may be overcome, depending on

their decision to use the service, their favorable opinion of adopting e-wallets,

and their assessment of the added value of digital payment services. Customer

resistance was more likely to occur if the method was significant to them. Based

on respondents' opinions regarding digital payments, the study demonstrated

that the likelihood of respondents making digital-based payments was unaffected

by in-person transactions, printed transaction evidence, or the custom of dealing

with small and medium-sized enterprises during transactions. This was made

possible by the range of goods and services provided by the banking industry,

including ATMs, mobile banking, e-wallets, and Internet banking; additionally,

74

goods and services provided by the business community in conjunction with the

banking industry, such as e-commerce, have changed the traditional transaction

patterns.

E-wallets have many benefits that can improve the dynamics of local

businesses, but they also have some disadvantages that can have an impact on

the outcomes of the study. While e-wallets made running a business more

convenient, respondents most frequently mentioned the challenges posed by

potential loss or theft of e-wallet access. This resulted in delays in both in-person

and online transactions, as well as unpredictable technical issues such as poor

internet connections that may have an impact on the company's earnings. A

lengthy wait may also be experienced by certain business owners between the

payment's transmission and their mobile device's confirmation of receipt or

account-based reflection of the payment.

Strategies that can be developed

to promote the Adoption of E-Wallets
among Micro and Small Enterprises
In Camarines Norte

The adoption of e-wallets has proven itself to increase sales. This was

due to numerous reasons such as easier and faster transaction and increase of

potential customers because of the wide reach and accessibility of e-wallets.

75

Despite e-wallets offering a variety of financial services such as loan, business

owners still rely on bank for issuance, assistance and payment of loans. This was

due to the lack of awareness of enterprises on the service offered by e-wallets

providers such as loan, insurance and banking options. Business owners need

guidance and literacy on the strategic potential of e-wallets to leverage them on

their financing activities.

In connection, the proposed material consisted of different strategies and

implementation. This proposed material was a useful tool for the users and

enterprises in order to have guidance and strategies in using e-wallets.

Moreover, the researchers designed a simplified strategy to use e-wallets

for the enterprises which aimed to further develop and acquire knowledge by

giving much emphasis on the highest rank of the barriers for adopting e-wallets.

These simplified strategies for the use of e-wallets were presented and

distributed as brochures to micro and small business owners. This output

provided information on using e-wallets. It additionally included information on

spreading awareness of e-wallets, including their importance, their benefits, and

key elements of a successful e-wallet strategy. It made a wide variety of services

accessible that individuals needed to get through the day. As a result, this

benefitted not only the respondents of this study (individual) but also the

enterprises, as well as the society as a whole.

The section of strategies to promote the level of awareness consisted

of the four variables—usefulness, ease of use, risk, and trust. It assisted owners

of micro and small-scale enterprises in assessing how they function and

determining areas for development and the benefits that the e-wallet offered.
76

Additionally, this sought to advance e-wallet development and acceptance. This

output also highlighted how micro and small business owners positively

developed their skills to build successful strategies for increasing its acceptance

and usage.

It can be seen that digital payment apps combined modern technology,

security, speed, ease of use, and clever features to make cashless payments

simple for all users. This was demonstrated by some of the most well-known

mobile wallets and alternative banks such as GCash and Paymaya by providing

greater value—entertaining encounters, thrilling surprises, loyalty points,

incentives when buying and paying to win over customers' hearts.

In conclusion, this output offered insightful information about the

importance of e-wallet applications in a society without cash. The researchers

believed that a digital wallet software should build enduring connections between

financial service providers, their ecosystem partners, retailers, and customers in

addition to facilitating digital payments.

77

Figure 3

Simplified Strategies for Using E-Wallets.

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CHAPTER 5

SUMMARY, FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

83

This chapter the summary of findings, conclusions and recommendations

of the study “The Level of Awareness of Micro and Small Enterprises to the

Adoption of E-Wallet in Camarines Norte.”

Summary

This study was conducted to determine the level of awareness of micro

and small enterprise in adoption of e-wallet in Camarines Norte. Specifically, it

sought to answer the following questions: 1) What were the profiles of the

enterprises in terms of nature of operation, number of years in operation,

capitalization, number of employees; 2) What were the level of awareness that

affected the adoption of e-wallets towards enterprises in terms of usefulness,

ease of use, risk, trust; 3) Was there a significant difference between the level of

awareness of micro and small enterprises to the profiles; 4) What were the

perceived barriers that hinder the adoption of e-wallets among micro and small

enterprises in Camarines Norte; and 5) What strategies can be developed to

promote the adoption of e-wallets among micro and small enterprises in

Camarines Norte?

The study contained 120 respondents who were Camarines Norte-

registered enterprises of different types, including micro and small-sized

businesses. The data were gathered and analyzed using the descriptive-

comparative method. The number of respondents who corresponded to each of

the profile items was determined using frequency count and percentage. An

adjectival rating and weighted mean were used to assess the level of awareness

that affected e-wallet adoption by enterprise. Based on their profiles, Analysis of

84

Variance (ANOVA) was utilized to determine a significant difference in the

relationship between the level of awareness of micro and smaller enterprises.

Findings

The findings of the study were summarized as follows:

1. In terms of the nature of operation registered in Camarines Norte, retail

enterprises were considered as the most established operation with a total of 50

percent while manufacturing have the least number of operation among all types

with a total of 1.7 percent. Among the respondents, 57 percent existed for one to

three years while 18 percent existed for seven to nine years; of all enterprises,

most of them had ₱ 300,000 and below capitalization with frequency of 83.3

percent while others only ranged from 3,000,001 to 10,000,000 with a frequency

of 3.4 percent. Most of them had one to ten employees with the frequency of 87.5

percent while 100 and above got the lowest with the frequency of 1.7 percent.

2. In terms of level of awareness that affected the adoption of e-wallets

towards enterprises, it indicated that most of the indicators were categorized as

“strongly agree.” Regarding the usefulness variable, the highest weighted mean

was 3.78 interpreted as strongly agree, for the indicator “e-wallets would help

speed up payment transactions in business.” The lowest indicator with a

weighted mean of 3.56, interpreted as strongly agree, was “using e-wallet could

make it easier to keep track of business expenses and payments.” The highest

weighted mean of 3.54, which was interpreted as strongly agree, was obtained

for the ease of use variable or “e-wallet interface would be user-friendly for

myself and my employees.” On the other hand, the lowest weighted mean of

3.33, which was interpreted as strongly agree, was obtained for ease of use
85

variable or “I think that navigating through the e-wallet application would be

straightforward.” Regarding the risk variable, “I have concerns about whether e-

wallet would adequately protect my business’ sensitive financial information” had

the highest weighted mean of 3.29, indicating strongly agree, while “I question

whether e-wallet would effectively resolve any issues or disputes that may arise”

have the lowest weighted mean of 3.08 which was interpreted as agree.

Regarding the variable trust, the response with the highest weighted mean of

3.34 was “I have faith in the encryption and authentication protocols used by e-

wallets application to ensure the safety of my transaction.” In contrast, the

response with the lowest weighted mean, 3.26, was “I believe that the e-wallet

application I use was secure and trustworthy for conducting financial transaction”.

3. It was found that the profile of enterprises had no significant relationship

to the level of awareness of micro and small enterprises to the adoption of e-

wallets. The result of the one way ANOVA ((F(14,59) = .561 , p + .881) showed

that there was no statistical difference between the groups. Thus, the null

hypothesis of this study shall be rejected.

4. In the perceived barriers that hinder the adoption of e-wallet, the

majority of respondents respond that “I am concerned of potential loss or theft of

my device with e – wallet access was a significant concern for my business” have

the highest rank. On the other hand, “I am not worried that my personal and

financial information may be stolen when using an e-wallet application” was

ranked lowest.

5. To address the strategies that can be developed to promote the

adoption of e-wallets among micro and small enterprises, a brochure titled “A

86

Simplified Use of E-Wallets” was suggested. it contained information about using

e-wallets and spreading awareness of e-wallets, including their importance, their

benefits and key elements.

Conclusion

Based on the aforementioned findings, the following conclusions were

drawn:

The research study focused on evaluating the awareness of micro and

small enterprises in Camarines Norte regarding the adoption of e-wallets. The

study examined various aspects, including enterprise profiles, levels of

awareness influencing e-wallet adoption, potential barriers, and proposed

strategies for promotion.

The findings revealed a diverse landscape of enterprises, with retail

businesses dominating and operating for relatively short durations. Interestingly,

a uniformly high level of awareness was observed across enterprises,

emphasizing the perceived usefulness of e-wallets in expediting transactions.

One particularly intriguing revelation was the prevalence of enterprises operating

for relatively short durations, suggesting a dynamic environment characterized by

a continuous rush of startups and businesses navigating their initial phases. This

temporal trend underscored a vibrant entrepreneurial ecosystem where

enterprises struggle with the challenges of establishing themselves and evolving

beyond their formative years. Amidst this diversity, a strikingly uniform and high

level of awareness regarding e-wallets emerged across different enterprises,

underscoring a collective recognition of the perceived usefulness of e-wallets in

streamlining and expediting financial transactions.

87

However, the absence of a significant relationship between enterprise

profiles and awareness levels added an unexpected layer of complexity to the

findings. This implied that the factors influencing awareness of e-wallets were not

distinctly shaped by the nature, longevity, or size of enterprises in Camarines

Norte. It indicated a commonality in the factors influencing e-wallet awareness

across different business types, implying a potential requirement for standardized

awareness campaigns customized for the various enterprises in the region. The

primary obstacles to e-wallet adoption primarily centered on device security

apprehensions, highlighting a crucial area for enhancement. To address these

issues, the study recommended strategic actions, placing significant importance

on developing and distributing an informative brochure. This focused strategy

sought to tackle concerns and advocate the diverse advantages of e-wallet

adoption among micro and small enterprises in Camarines Norte.

Recommendation

In the view of foregoing conclusions, the researcher recommended the

following:

The study revealed that there was an absence of awareness between

enterprises in Camarines Norte regarding the adoption of e-wallets. On this

basis, future research should begin with a need for tailored education programs

informed by thorough research. This entailed identifying specific knowledge gaps

and misconceptions through comprehensive surveys or interviews, followed by

the development and testing of educational materials tailored to the unique

needs of micro and small enterprises. Additionally, employing qualitative

research methods, such as focus group discussions, could provide a nuanced

88

understanding of the learning preferences and needs of these businesses,

enriching the effectiveness of educational initiatives.

Furthermore, collaboration with stakeholders, including local authorities,

financial institutions, and business associations, should be underpinned by

rigorous research. Assessing the willingness and capacity of these entities to

collaborate on e-wallet adoption initiatives required a meticulous examination,

possibly through surveys or interviews. Exploring successful collaborative models

in other regions through case studies or surveys can offer valuable insights, and

employing a mixed-methods approach can help evaluate the impact of

collaborative efforts on e-wallet adoption rates among businesses.

Continuous awareness campaigns, a cornerstone of successful adoption

initiatives, must be informed by research. Conducting surveys or interviews to

identify the most effective communication channels for disseminating information

about e-wallet benefits and safety measures was essential. Moreover,

experimental designs can be employed to test the impact of different messaging

strategies on awareness levels among micro and small enterprises. Taking note

that the competitive market fluctuated overtime, long-term studies can then be

incorporated to measure the sustained impact of awareness campaigns over

time, providing a comprehensive understanding of their effectiveness.

Finally, for a holistic understanding of the dynamics surrounding e-wallet

adoption, further research and a continuous feedback mechanism were

imperative. Long-term studies tracking changes in awareness, adoption rates,

and barriers over time will provide valuable insights. Implementing a continuous

feedback mechanism, potentially through surveys or focus groups, will capture

89

real-time experiences and concerns of businesses, fostering an iterative and

adaptive approach to e-wallet adoption strategies. These research

recommendations aimed to refine strategies, ensuring they were grounded in

evidence and responsive to the evolving needs of micro and small enterprises in

Camarines Norte.
90

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APPENDICES
103

Appendix A
Letter Request to DTI – Camarines Norte
Mabini Colleges Inc.

College of Business Administration and Accountancy

Daet, Camarines Norte

September 23, 2023

DTI Camarines Norte
Merchant Avenue, Central Plaza Complex
Brgy. Lag – on Daet, Camarines Norte

Greeting of Peace!

The undersigned 3rd Year Bachelor of Science of Accountancy of Mabini Colleges

students will conduct a research study entitled The Level of Awareness of Micro and
104

Small Enterprises to the Adoption of E – Wallet in Business Productivity in Camarines

Norte SY: 2022 – 2023 as part of the requirements in Accounting Research Method.

In connection hereof, we would like to request a copy of list of business of

registered businesses in the province of Camarines Norte for the year 2022, which will be
used as part of our research study and for data gathering purposes. The information will
be gathered will kept with outmost confidential and will only be used for academic
purposes specifically for the accomplishment of the proponents’ research study. I am
hoping for you favorable response regarding to this matter.

Thank you and God Bless.

Very truly yours,

Iritz Aranez

Emily Bongalos

Judyan Zoleta
Researchers
Noted by:

Rey Carlo G. Secretario

Research Advisor

Recommending Approval:

Rexmar Christian Bernardo

Research Instructor
105

Appendix B
Letter Request to the Enterprises/ Respondents

Mabini Colleges Inc.

College of Business Administration and Accountancy

Daet, Camarines Norte

June 23, 2023

Dear Respondents,

Greeting of Peace!

The undersigned 3rd Year Bachelor of Science of Accountancy of Mabini

Colleges student will conduct a research study entitled The Level of Awareness of Micro
and Small Enterprises to the Adoption of E – Wallet in Business Productivity in
106

Camarines Norte SY: 2022 – 2023 as part of the requirements in Accounting Research
Method.

In connection hereof, we chosen you to be part of this study as respondents and

provide the necessary data needed as part of our research study and for data gathering
purposes. The information will be gathered will kept with outmost confidential and will
only be used for academic purposes specifically for the accomplishment of the
proponents’ research study. I am hoping for you favorable response regarding to this
matter.

Thank you and God Bless.

Respectfully yours,

Iritz Aranez

Emily Bongalos

Judyan Zoleta
Researchers

Noted by:

Rey Carlo G. Secretario, CB, CPA, RCA, MBA

Research Advisor

Recommending Approval:

Rexmar Christian Bernardo, CPA, MBA

Research Instructor
107

Appendix C
Survey Questionnaire

Mabini Colleges Inc.

College of Business Administration and Accountancy
Daet, Camarines Norte
Dear Respondent:
The purpose of this academic study questionnaire is to determine and gather information regarding
“The Level of Awareness of Micro and Small Enterprises to the Adoption of E – wallet in Camarines Norte”.
The information gathered from this survey will be able to address the questions raised by the present study.
The information provided by the respondents will also be used to develop a hypothesis to support the
study's central idea. Your thoughtful l and unbiased answer will significantly highlight the awareness of
enterprises in adoption of E – wallet and help with system improvement research. Each respondent's
information will be treated with the utmost confidentiality and used only for academic purposes.
Your involvement is greatly appreciated. God bless you and thank you.
- The Researchers
108

Directions: Please respond to the following questions by placing a check mark () in the answer box that
corresponds to your response and/or fill in the blank where indicated.
Part 1. Profile of the Enterprises
1.1 Nature of Operation
 Retail
 Merchandising
 Manufacturing
 Service
 Others
1.2 Number of Years in Operation
 1- 3 years
 4 - 6 years
 7 – 9 years
 10 – 12 years
 13 years and above
1.3 Capitalization
 300,000 – below
 300,001 – 1,000,000
 1,000,0001 – 3,000,000
 3,000,001 – 10,000,000
1.4 Number of Employees
 1 – 10
 11 – 20
 21 – 40
 41 - 99
 100 - above
Part 2. Level of Awareness of Adoption of E – wallet
2.1 LEVEL OF AWARENESS OF ADOPTION OF E -WALLET
Direction: For each statement, please put a check mark () on the box corresponding to the
degree of your agreement or disagreement. Note, there is no right or wrong answer. All that is
important is it is most representative of your experience.
Legend:
4 – Strongly Agree 2 – Disagree
3 – Agree 1 – Strongly Disagree
Usefulness
Indicators 4 3 2 1
1. I believe e-wallet would help speed up payment transaction in
my business.
2. E-wallet could simplify financial transactions, making it easier to
manage my business.
3. I think e-wallet could save me time, making financial
transactions more efficient.
4. Using e-wallet could make it easier to keep track of business
expenses and payments
5. I think e-wallet could improve my cashflow management by
providing real -time transaction updates.
Ease of Use
Indicators 4 3 2 1
109

1. I believe that my team and I would easily learn how to use the
e-wallet.
2. I think that navigating through the e-wallet application would be
straightforward.
3. Mastering the use of e-wallet would likely come naturally to me
and my team.
4. I think the e-wallet interface would be user-friendly for myself
and my employees.
5. I believe that routine financial task would be easier to
accomplish using e-wallet.
Risk
Indicators 4 3 2 1
1. I have concerns about whether e-wallet would adequately
protect my business’s sensitive financial information.
2. I am not sure if using e-wallet would lead to unauthorized use
of my business’s financial data.
3. I worry about possibility of hackers accessing my business’s
financial data.
4. I am not sure if I can trust the e-wallet service provider with my
business’s financial data.
5. I question whether e-wallet would effectively resolve any issues
or disputes that may arise.
Trust
Indicators 4 3 2 1
1. I feel confident that my personal and financial information is
protected when using an e-wallet application.
2. I believe that the e-wallet application I use is secure and
trustworthy for conducting financial transaction.
3. I trust that the e-wallet application has reliable security
measures in place to protect my sensitive information.
4. I have faith in the encryption and authentication protocols used
by the e-wallet application to ensure the safety of my
transaction.
5. I have a positive perception of the e-wallet application’s
reputation for maintaining the privacy and security of its user’s
data.
Part 3. Barriers that Hinder the Adoption of E - Wallet
3.1 BARRIERS THAT HINDER THE ADOPTION OF E-WALLET
Direction: For each statement, please put a check mark () on the box corresponding to the
degree of your agreement or disagreement. Note, there is no right or wrong answer. All that is
important is it is most representative of your experience.
Barriers
Indicators
1. Using the e-wallet may cause technical problems like connection difficulties that
hinder the speed payment transaction.

2. Using an e – wallet concerns me since it could not be compatible or accepted

everywhere. All e – wallet payment are not accepted by all businesses.
110

3. I am concerned that there may be problems with transaction when using an e –

wallet.
4. The complexity of using e-wallet registration and verification process is not a
barrier to adoption
5. The involvement of different features and option available in an e-wallet
application is not a barrier to adoption.

6. I am concerned that by using an e-wallet, my personal information may be

exposed to businesses without my permission.
7. I have concern regarding the security of exchanging personal information
through e -wallet.

8. The use of e-wallet concerns me since it will lead to an increase of internet

fraud.
9. I am not worried that my personal and financial information may be stolen when
using an e-wallet application
10. I am not skeptical about the security features provided by e- wallet application.

11. I am confident that unauthorized transaction will not occur when I am using an
e – wallet application.
12. I am apprehensive about whether my suppliers, vendors, and partners will
accept payments through E-Wallet, which might complicate transactions.
13. I am concerned about the learning curve and the time it might take for me and
my employees to become proficient at using e-wallet.
14. I fear that resolving issues or getting customer support for e-wallet could be
time consuming and impact my business operations.
15. I fear that frequent updates or changes in e-wallet features might disrupt my
business operations.
16. I worry that e-wallet service may not be reliable, with possible network or
system downtime may affect my business operation.
17. I am apprehensive that using e-wallet might make my business a target for
cybercriminals.
18. I am concerned about the potential difficulty of training employees to use the e-
wallet system.
19. I worry that my customers may not accept or trust e-wallet as payment method,
affecting my sales.
20. I am concerned of potential loss of theft of my device with e – wallet access is
a significant concern for my business.
*Adopted
111

Appendix D
List of Respondents in Dry Run
112

Appendix E
List of Respondents in Actual Survey
113
114
115

Appendix F
Result of Analysis of Variance Test for Significant Difference between the Profile
of the Enterprises and their Level of Awareness of Micro and Small Enterprises
to the Adoption of E-Wallets
116

Appendix G
Survey for Dry Run

Appendix H

Actual Survey
117

Appendix I
Result of Plagiarism Analysis

CURRICULUM VITAE

IRITZ P.
ARAÑEZ
Purok 2
Brgy.
Masalong
118

Labo, Camarines Norte

Contact Number: 09387216494
Email Address: araneziritz061101@gmail.com

PERSONAL INFORMATION
Nickname: Iritz
Birthday: June 11, 2001
Age: 22
Nationality: Filipino
Religion: Roman Catholic
Civil Status: Single

EDUCATIONAL ATTAINMENT
Tertiary : Mabini Colleges, Inc.
Daet, Camarines Norte
2020 – Present

Secondary : Mabini Colleges, Inc.

Daet, Camarines Norte
2018 – 2020

Camarines Norte College

Labo, Camarines Norte
2014 – 2018

Primary : Labo Elementary School

Labo, Camarines Norte
2008 – 2014

EMILY G. BONGALOS
Brgy. Alawihao, Purok 3,
Daet, Camarines Norte
Contact Number: 09565561011
Email Address: bongalosemily@gmail.com
119

PERSONAL INFORMATION
Nickname: Emily
Birthday: September 08, 2001
Age: 22
Nationality: Filipino
Religion: Roman Catholic
Civil Status: Single

EDUCATIONAL ATTAINMENT
Tertiary : Mabini Colleges, Inc.
Daet, Camarines Norte
2020 – Present

Secondary : La Consolacion College of Daet

Daet, Camarines Norte
2014 – 2020

Primary : Alawihao Elementary School

Daet, Camarines Norte
2008 – 2014

JUDYAN D. ZOLETA
F. Pimental Ave. Purok 6,
Brgy. 2 Pasig, Daet,
Camarines Norte
Contact Number: 09475703287
Email Address: judyanzoleta0809@gmail.com
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PERSONAL INFORMATION
Nickname: Judy
Birthday: September 08, 2001
Age: 22
Nationality: Filipino
Religion: Roman Catholic
Civil Status: Single

EDUCATIONAL ATTAINMENT
Tertiary : Mabini Colleges, Inc.
Daet, Camarines Norte
2020 – Present

Secondary : La Consolacion College of Daet

Daet, Camarines Norte
2018 – 2020

Chung Hua High School

Zabala St. Daet, Camarines Norte
2014 – 2018

Primary : Camarines Norte State College

Abaño Elementary School
Daet, Camarines Norte
2008 – 2014