Republic of the Philippines

Department of Education
Cordillera Administrative Region
Division of Tabuk City

TACUK CITY NATIONAL HIGH SCHOOL

Dagupan Weste, Tabuk City, Kalinga

The benefits of the implementation of a cashless society for the students of TCNHS

A Qualitative Research

ABM-2

Submitted by:

Accad, Kwynlynn

Agaid, Rhaia L.

Buston, Christian

Cruz, Karylle

Siagan, Bryner

Submitted to:

Genevieve D. Ullalim

Research Teacher

(March-May 2024)

TABLE OF CONTENTS
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 Page

Title Page i

Acknowledgement ii

Abstract iii

Chapter 1: Introduction

Background of the Study

Research Objectives

Scope and Delimitation

Definition of Terms

Chapter 2: Methodology

Research design

Locale and Population

Sampling procedure

Data gathering instrument

Data gathering procedure

Data analysis

Chapter 3: Presentation of findings and Discussions

Table 1

Table 2

Table 3

Chapter 4: Conclusion and Recommendation

Conclusion

Recommendation

References

Appendices

Appendix A: Validated Content Questions

Appendix B: Letter of Consent

Appendix C: Elicitation Protocol

Appendix D: Data Corpus

Abstract
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The advancement of information technology and the development of digital devices have led to the

adoption of cashless payment. In this era, the younger generations have the opportunity to explore and

experience cashless transactions earlier than the previous generations. Thus, this study aims to determine

the benefits of the implementation of a cashless society for the students of TCNHS

Introduction

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Cashless economy refers to the economic activity in which digital payment methods are used for

transactions instead of cash (Tee & Ong, 2016). Transactions are made via internet banking, debit or credit

cards, or mobile wallet. Due to smartphone technology, the use of mobile payments in performing cashless

transactions has risen rapidly and become the norm in countries such as China, Japan and South Korea

(Miao & Jayakar, 2016).

Cashless payments have now become one of the most essential aspects of the global economy, and they

are regarded as key determinants to economic growth. Recent studies reported that users among young

generations from various age groups are tremendously growing in some countries. The active users are

Gen Z who is in the age range of 5 to 21 years old and Gen Y aged from 22 to 38 years (Haroon, 2020).

Young generations are most exposed to e-commerce platforms and ready to use cashless payment

system. According to survey, mobile banking system are the most preferred method to payment, with 69

percent of Malaysian respondents us from more frequently during the pandemic (Azman, 2020).

Cashless society heralded for so many years, and is now making way in the Philippines. The governments

are making several efforts to reduce the use of cash in the economy by promoting a Cashless Economy in

which all types of transactions are carried out through digital means. It includes e-banking (mobile banking

or banking through computers), debit or credit cards, card-swipe or point of sales (POS) machines and

digital wallets underwent convenience of managing all your financial all your financial affairs electronically

and online. Cashless transaction Economy does not mean shortage of cash rather it indicates a culture of

people settling transactions digitally. In modern economy, money moves electronically. Hence, the spread

of digital payment culture along with the expansion of infrastructure facilities is needed to achieve the goal

both banking system transaction played the main roles in these big changes (Rebecca Oi, 2022).

Moreover, going cashless can speed up the transaction process and improve the efficiency for the users.

Some users discovered that the Electronic Payment System (EPS) was easier, faster and more accurate

(Harris, Guru & Avarri, 2011). Other than that, it was also found out that social influences had an impact on

the acceptance and recommendation of cashless payment system. However, social influence does not

have a strong effect on millennial users because they are ready to take risks in adopting new technologies

(Cheng, Khim & Thai, 2018). The right to perform transaction from any location at any time, quicker, safe

and reducing physical contact during pandemic is among other factors behind the use of Cashless System

(Puat, 2018; Yakean, 2020).

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According to the article of Davos Agenda and Augustin Dobre (2022), cashless society have an enormous

benefit such as; eliminate the middleman, close the financial inclusion gap, tool to fight corruption, The

enabling factors, Traceability and safety of transaction and less pressure on the environment.

E-wallets offer numerous benefits, including online shopping and payments without checking accounts.

Private online e-payment services like PayPal provide an alternative to credit cards. This trend highlights

the rising trend of digital transactions in the Philippines, which has adopted cashless modes. Despite the

negative impact of going cashless, the people's response towards digitalization indicates a prosperous

future for the cashless economy in the Philippines (Lawrence, 2001).

According to recent research conducted by Visa, Cashless Transactions has paved the path for making the

transaction simple unto the consumer. Well-known international financial services companies, 63 percent of

Filipinos are highly aware of contactless payment or cashless transactions, based on the survey of over

2000 respondents from Southeast Asian nation. However, two out of every ten Filipinos will employ this

approach due to misconceptions regarding contactless payments and Filipinos are concerned about their

personal information security. (Visa.com.ph, 2017).

There has been research about the implementation of a cashless society in the Philippines, but it only

focuses on adoption, impact, issues, and awareness of implementing cashless society. More recent,

researchers will now conduct their research to see the benefits of the implementation a cashless society in

universities.

The purpose of the research is to find out the benefits of the implementation of a cashless society for the

students especially the students of Tabuk City National High School.

Therefore, the result of the study will be a great help to the students, teachers and other school staff by

providing information regarding the benefits of implementing a cashless society and also helping them

understand the benefits of implementing a cashless society for them.

Research Objectives/Problems

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This qualitative research aims to know what are the benefits of the implementation of cashless society for

student.

Specifically, it aims to answer the following:

1. To uncover benefits of the implementation of cashless society for the students.

2. To understand the influence intention to use and the adoption of e-wallets.

3. To explore the perceived usefulness, perceived ease of use, social influence, facilitating condition,

lifestyle compatibility, and perceived trust on both the intention to use an e-wallet and the adoption of

an e-wallet among students.

Scope and Delimitation

The focus of this study is to investigate research focusing on the benefits of the implementation of a

cashless society for the students and to establish an understanding among the students of TCNHS of the

benefits of implementation of cashless society for the students. The research will be conducted from March

to May 2024.

Definition of Terms

Cashless Society- a state where financial transactions are conducted digitally or electronically, with little to

no physical cash usage.

Mobile Wallets- application on smartphones or other mobile devices that enable users to store financial

information and make payments electronically.

Digital Payment- transactions are made using electronic means such as credit/debit card, mobile wallets, or

online banking platforms.

Contactless payments- transactions made by tapping or waving a mobile device or card often facilitated by

e-wallets.

Convenience- the ease and speed of making transactions without the need to carry physical cash, leading

them to smoother and more efficient payment experiences for students in various setting.

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Transactions- a financial activity or exchange involving the transfer of funds or asset between parties,

typically facilitated by electronic or digital means in a cashless society it includes payments, transfer,

withdrawal and other monetary interactions conducted through payment system.

TCNHS Students-In this study, this term is used as the participants of the study.