Beruflich Dokumente
Kultur Dokumente
ip
SENIOR HIGH SCHOOL
A Thesis Presented to
The Basic Education Department
College of Education
University of the East – Manila
By:
APPROVAL SHEET
_____________________________
_____________________________
Panel Member
_____________________________
Panel Member
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CERTIFICATE OF ORIGINALITY
I hereby declare that this submission is my own work and that, to the best
of my knowledge and belief, it contains no material previously published or written
by another person nor material which to a substantial extent has been accepted
for the award of any other degree or diploma of a university or other institute of
higher learning, except where the due acknowledgement is made in the text.
I also declare that the intellectual content of this Senior High School thesis
is the product of my own work, even though I may have received assistance from
others on style, presentation and language expression.
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ACKNOWLEDGMENT
This research would not have been made possible without the help of these
people and institution: First and foremost, to God who guided us in our way in
making this paper. His divine spirit bestowed us a healthy relationship among our
co-members and He had given us courage that strengthen our will to continue
To Ms. Arleth Follero, our research teacher, we would like to express our
sincere gratitude as we indebted you our learnings and guided us step by step in
our journey in completing a productive work. You had taught us the methods and
principles in writing a paper and instructed us how to present it as clear and smooth
We would also like to thank our parents for expressing their full support
financially and emotionally. You gave us the motivation to strive harder. Let this
paper be the tribute from us to your compassion, sacrifices, and for sending us to
school to prepare us for our future. We are also extending our heartfelt thanks to
our classmates who also bear their hands on times we need assistance. And to
our respondents who participated in our study, we were extremely grateful as you
filled the gaps that was needed be filled out. Thank you for sharing your ideas
wholeheartedly.
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And finally, to our beloved alma mater, the University of the East. We thank
you for implementing this subject in the class and for giving us the opportunity to
do research. You have given aspiring researchers ideas to create researches that
may help the world in the future. It's so overwhelming that you possess
Without your firm and visual, we would not have the opportunity to finish or create
this paper.
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DEDICATION
beloved parents who have been our motivators, inspiration source, and providing
their constant support emotionally, morally and financially. This will then serve as
And most especially, to God. We thank him for his guidance and power of
mind. We gratify him for giving us a healthy relationship with our co – members
The Researchers,
C. G. A. G
A. M. C. G
F. P. L.
M. G.T.
K. L. G. V
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TABLE OF CONTENTS
APPROVAL SHEET ..................................................................................... 1
CERTIFICATE OF ORIGINALITY ................................................................ 2
ACKNOWLEDGEMENT .............................................................................. 3
DEDICATION ............................................................................................... 5
TABLE OF CONTENTS ............................................................................... 6
ABSTRACT .................................................................................................. 9
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REFERENCES ............................................................................................. 80
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LIST OF TABLES
LIST OF FIGURES
LIST OF APPENDICES
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ABSTRACT
This research paper finds answers on why cashless transactions is not gaining
transfer of digital information take place without involving physical cash. This study
questions about its challenges; its advantages and disadvantages; and its possible
effect on the legal tender once the system is implemented. It follows the purposive
according to its theme and concepts. Results show that familiarity, convenience,
and low technological investments were the factors hindering many people not to
some the country is ready for cashless transactions, Filipinos contrariety is not yet
prepared to go cashless.
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CHAPTER I
The use of technology has permeated in every walk of life. It has brought a
sea of change in how we interact with the outer world and even with ourselves in
terms of our habits and behavior. One of the important quantifiable aspects of our
surrounding has been “Money.” Money has different interpretations — one that let
us satisfy our needs, act as a medium of transaction and eliminates the need for
double coincidence of wants. Hence, it is inevitable that the two most all –
(Tee and Ong, 2016). Non – Cash Transactions began as a trend in daily life during
the 1990, when electronic became popular. Digital payment methods by 2010 were
widespread use. The electronic payments have led us to believe the cashless
recent years. This is due to a myriad of reasons including the growing affluence of
its citizenry, it’s vibrant tourist industry, and the increasing popularity of online
shopping among young, urban Filipinos (Vandana, 2016) Filipinos are ready to go
6 out of 10 Filipinos prefer cash payment. Today, 49% have more cards in their
wallets compared to five years ago, while 29% carry less cash. The increase of
cashless payments can also be attributed to the advent of online shopping, with
online retailers such as Lazada and Zalora are going strong in the market. The
findings from the survey indicate that banks in the Philippines are in a perfect
Transaction still, why does the Philippines can’t be a Cashless Nation now?
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The purpose of this study is to know the reason why the Philippines still
hasn’t established a Cashless Society, when this Payment System became a trend
in other Countries such as China and United States of America. The research
questions that guided this study was: “Why does the Cashless Transaction not
Philippines?
4. What will an individual think will happen to the Legal Tender once the
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CONCEPTUAL FRAMEWORK
CASHLESS TRANSACTION
SLOW INTERNET
CONNECTION
1. Availability of Technology
and with this technology where this kind of transactions evolves into. There are
Weak Infrastructure
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reliable internet whether thru mobile or landline. It was known that the
Philippine is one of the countries that has slow internet connection, in fact
reach other areas which are out of reach of the internet. They also need to
work out the facilities and upgrade to ensure fast and reliable exchange of
data.
Hesitant Investors
dominated the market and they have an influenced with the government that
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million per month, and only 1% of these payments were done electronically.
This explained the fact that Filipino households don’t have a formal
Lack of Awareness
other available digital payment schemes, especially in far - flung areas, are
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respondents who are capable of using technology and eligible in opening a bank
account. Because currently, the Cashless Transaction used here in the Philippines
has a connection to the bank. Their ages ranges from 18 – 50 years old. This study
delimited to respondents who are age ranges from 1 – 17 years old, due to they
are ineligible in opening a bank account. This research study was concentrated at
Metro Manila for the reason that it is the center of almost everything in the
Philippines.
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not gaining any traction here in the Philippines. The result of this study will be a
Transaction works
for initiative
Financial Technology Companies, wherein they can also get reference for
The Researchers, they can benefit in this study to raise awareness about
the Cashless Transaction in the Philippines. They also have developed their
research
For Future Researchers, this will benefit them who wish to have similar
studies as they can get background information from the result of this study
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DEFINITIONS OF TERMS
Cashless – a type of transaction that uses electronics means rather than physical
cash.
Traction – when a product, idea and etc., gains popularity and acceptance.
Legal Tender – coins or cash that are offered and accepted as a payment.
transaction happen.
Techy – Savvy – a person who knows to use the modern technology (i.e.
computers)
Identity Theft – the fraudulent acquisition and use of a person’s private identifying
Channels – are the vehicles through which customers can interact with a financial
Internet Connection – the large system of connected computers around the world
that allows people to share information and communicate with each other.
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CHAPTER II
The idea of Cashless Transaction has fascinated other countries like the
economic setting in which goods and services are bought and paid by electronic
media. There has been no researches conducted concerning about this topic since
the Philippines is just gradually upgrading to a Cashless Society. The following are
According to Michael Keeley (1988) there’s a little possibility that the U.S.
individuals still primarily rely on using checks and cash in making a transaction.
This is mainly because that the electronic payment system remains a far distant
development. There are many reasons that cash still remain popular to us
individuals. For one thing, Cash is very convenient, especially when you make
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In the early 1950’s, the very first Diners Club Cards gained popularity across
the America, the vision of cashless society was enthusiastically predicted. Beyond
the hyperbole, the common – sense prediction for the future of cash is probably
that, while the world will inevitably evolve beyond physical currency at some point,
it’s more likely to happen sometime in the next century than the next decade.
1970’s when credit and charge cards became a popular means of payment, paper
currency still remains an active form of currency in many parts of the world—but
its days may be numbered. According to the 2013 Federal Reserve Payment Study
that examined payment data collected from 2002 to 2012, payments have become
increasingly card based. Though the popularity of credit cards declined slightly
from 2006 to 2009, they returned to popularity in the three years that followed.
To sum it all up, there has been a speculations that the cashless transaction
will not and will gain popularity. It appears in one study that U.S. rely more on
currency than the Cashless Transaction. Thus, it results that it is unlikely that
electronic payments will replace cash anytime in the future. On the other studies,
they predicted that the cashless transaction will gain popularity since there has
been other ways that they transact without using cash. Today, mobile money
platforms are becoming part of the banking systems and are easily usable even by
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Generations ago, consumers visit streets to fulfill one’s shopping needs and
things changed then. Cashless transactions also come in different ways, with lots
devices, clothing, fashion accessories and sensors, all with the potential to disrupt
commerce and usher in new payment form factors. Consumers also are shifting
from type to voice interfaces with personal assistants powered by the established
smartphone and emerging wireless speaker categories driving this uptake. Euro
Amazon Echo, will be sold globally in 2017, with that category expected to expand
Another trend also becomes popular, the block chain technology. According
to Marc Adreesen (2014), block chain is a way for one Internet user to transfer a
unique piece of digital property to another Internet user, such that the transfer is
guaranteed to be safe and secure, everyone knows that the transfer has taken
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transactions over time. With traditional solutions like relational databases, financial
institutions are required to develop custom solutions and keep multiple databases
in sync with each other across different institutions. A block chain forms a network
Zavgorodny, 2018).
In the world or in the kind of the society that we live in today we are all
accustomed to the things that make our lives a lot easier well in using and doing
cashless loans we are embracing change. Change that will help and secure to
Upon the invention of money, fraud, theft, and other suspicious acts also
was brought to life. Everywhere you go in public or any other places where crowds
are present, you got the feeling of being unsafe especially when you're carrying a
wallet full of important valuables with you. Forgery, which is the production of false
copy of documents and banknotes has been more common these days. In
response to this, researchers tried to figure out what could be a great way in order
Europe during the Age of Discovery in late 15th Century where merchants ran out
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of coins as a result to the increase of buying and selling goods. Cheques, a bill of
exchange drawn on a bank to pay money started to emerge. This became more
popular among noble families and businessmen in the 19th Century as it is easy
and is a faster way to transact. Upon the eruption of electronic computers in the
payer's status. Machines, sensors, and other technological devices arose. These
machines made cheque sorting a thousand times faster than doing the manual
thing.
which emerged in the early 1990s made transactions less hassle. Almost every
sector benefited from the connectivity, including digital payments. The birth of the
internet allowed people to transact online even if they won't go outside. The
attracted lots of bank users to transact online. EBay, also an online shopping
company became the first of its kind to accept online payments and made a joint
partnership with PayPal. At the time of the deal, 70% of all EBay auctions accepted
PayPal payments, and roughly 1 in 4 closed auction listings were transacted using
became the first reloadable smart card in the Philippines used by passengers
boarding the MRT and LRT systems. The system is meant to ease the congestion
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created by thousands of commuters lining up to buy tickets, and lessen the time
digital as time passes. As some people predict that cash would be demonetized in
the future, this new system would probably soon be used by billions of people
worldwide.
According to Riju Dave (2016) the government in India has come up with a
rash of discounts and freebies on digital transactions just to incentivize the move
towards a cashless economy. The advantage of being cashless, you will no longer
need to carry wads of cash and it is safer and easier spending option when you’re
traveling. It will be very easy for people to keep track of their spending when all
a credit card or mobile wallet remotely when stolen but it’s impossible to get your
cash back. The digital option offers limited security. Since you will depend on your
phone for all your transactions, when you lose your phone, it can be approve to be
a double whammy.
transaction is that it is easier to track the black money and illegal transactions while
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the disadvantages are that not everybody has the knowledge of doing digital
to everyone. No more hassle to carry cash and it is less risky. You can manage
your budget smartly and you can view the history of your expenses. Tax collections
will increase and tax rates can be reduced and tax rules simplified.
analyze the merits and demerits, the government should take the decision as the
adopted by the people of the country. Not all the people have enough knowledge
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SYNTHESIS
also been evolving from manual to digital in people’s daily transactions. With the
presence of the in the infrastructures like internet, machines, modern software and
different online trends, studies have shown that the Philippines is now ready to go
cashless. However upon observation, Filipinos show lack of interest about the
system seeing that only few of them use this type of transaction.
Thus, the main objective of this study is to find reasons why cashless
transaction has not gain traction in the Philippines. Pros and cons also will be
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CHAPTER III
Research Methodology
This chapter will explain the method adopted by this research. This chapter
population, population frame and sampling techniques used for the interview.
RESEARCH DESIGN
cashless transaction, in order to know the reason behind why cashless transaction
research method that is used to describe how human beings experience a certain
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adult with a specific qualifications. This is because college students and adults are
the people who are mature and concern about their country’s status. The
connection to the bank. Third, they should be capable of using technology. The
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SAMPLING PROCEDURE
In this study, the researchers employed the purposive sampling method for
the selection of the participants. In this strategy it enables the researchers to collect
relevant and useful information for answering the research questions. The criteria
that the researchers are looking for is that respondents should be a College
student or an adult that ranges from 18 – 50 years old. Second, they should be
eligible in opening a bank account. Third, they should have enough knowledge
about technology. And lastly, the respondents have tried or experience transacting
via cashless.
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RESEARCH INSTRUMENTS
interviews were intended for the respondents who are transacting via cashless
challenges about cashless transaction, the possibility of what may happen to the
legal tender, and what actions do the government needed to for Filipinos to be
directed to the central question which is the “reason why Cashless Transaction is
not gaining traction in the Philippines”. The researcher used a semi – structured
research teacher and if the questions were not understood well, it can be translated
in Filipino if needed.
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RESEARCHER’S ROLE
from the respondents confidential to avoid certain issues and respect their
decisions to not participate in the study. The researchers also does not judge or
Upon having participants who are related, the researchers assure to avoid biases
and manipulate their answers to avoid certain issues. As researchers of this study,
we are there to be the interviewers, not related in any way to the participants.
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This study observes ethical procedures to protect the dignity and the rights
regarding the study that will take part in the interview. The researchers conducted
a one – on – one interview with semi – structured questions that allowed them to
gather additional insights and perception regarding to the research topic. Before
the directing an interview, a consent letter was signed by the interviewee that
assured them that they are approved to be recorded and confidential of their
responses. The consent letter made by the researchers were approved by the
research professor. The interview was conducted inn wherever the respondents
depending on their responses. After the gathering of data, the data was then
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DATA COLLECTION
For the purposes of this research, semi – structured interviews were used.
bias and thus increasing credibility regarding the information. As far as data
collections tools were concerned, the conduction of the research involved the use
of semi – structured questionnaire, which was use d as an interview guide for the
researchers. Some certain questions were prepared, so as for the interview toward
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DATA ANALYSIS
meaning; coding and classifying data, usually textual, according to themes; and
In analyzing data, first the researchers transcribe the interview they recorded with
data and applied purposive sampling method since the study observed a criteria
later transcribed and classified based on the certain themes found. After
previous studies. And corresponding to this, results shall not be biased as stated
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CHAPTER IV
people to answer our questions needed to support this study. The results
to be done by the government and effect to the legal tender of cashless transaction.
It would be analyzed with the use of thematic analysis and discuss its relevance
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government and effect to the legal tender. The master themes where divided into
FINDINGS
cashless transaction is convenient for them because they can transact with ease.
They will no longer need to carry wads of cash instead they just have you bring
plastic money like ATM Card. It is also safer and easier spending options when
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“… and of course, it’s really convenient no hassle you don’t have to worry
around cash that it may got lost or you would just misplace it unless you have your
phones.” (R6)
future’s mode of payment since as the time pass by, technologies improved as
well. It is not surprising that money will follow suit as well. The Philippine
“I think it will be a… a big part of the economy and a big part of transactions
that will happen in the future na magiging lahat is cashless.” [I think it will be a… a
big part of the economy and a big part of transactions that will happen in the future
a…. how would I say that... because it has a lot of potential for…. Uh…. to increase
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transaction is convenient for them because by going cashless it's a lot easier and
they can pay their bills and shopping online in the comfort of their homes. They
is not safe to bring a lot of cash with you when you are going out. Especially here
in the Philippines so it's better to just bring your cards or phones to pay.
"You don’t need to bring any money, mobiles phones or credit cards are the only
thing you need, so this helps you from crimes, robbery and pic – pocket which is
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respondents it increases their responsibility, due to the written record that will help
them keep tabs on their spending that will result in better budgeting. Because a lot
of people tend to buy things when they see that they still have money on their
hands so by going cashless they will see that they spend too much money.
know or see that we still have money left in our hands… we tend to go crazy on
shopping or buying we want. Since it’s cashless we can’t see any physical cash…
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the older people, who may suddenly find themselves locked out of their accounts
if they can’t download an app or don’t have cash. The digital medium may prove a
challenge for the tech-unfriendly people, who will need more time to adapt or the
“Hindi pa naman lahat ngayon ano eh, uh… parang… ano ‘to into internet
eh kasi masyado kasing cashless dapat talaga ano eh ma – master nila yung
internet connection.” [As of today not all uh… it’s like… what’s this into internet
because since it’s cashless they have to master the internet connection.] (R1)
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and stuffs.
vulnerable third party attacks uh… ng mga hacking or capturing or logging ng mga
transaction.” [Since it is transferring via channels like internet or phones this can
transaction.] (R4)
involves more up-front costs, in the form of card fees, the processing costs
“Next, Uhm… there is additional fees that are added to your transactions… maybe
you don’t see or feel that but there is additional fees to it…” (R5)
afford to buy phone and avail credit cards and it is difficult to implement the
“Not all Filipinos can afford to buy uhm… cellular phones or avail credits…
commonly the only one who can afford this are the elite or middle class persons.”
(R5)
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infrastructure that are needed in making the cashless transaction to happen in the
Philippines is only making this for their clients. They are not making those kind of
“I encounter lots of problem uhm… especially when using my debit card and…
some stores don’t offer… what you call this… those kind of mode of payment.”
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transaction since they are used to the old – fashioned way which is paying via the
physical cash.
“For example, siyempre yung mga Pilipino kasi mahilig sa retail eh, mga
sari-sari store. Siyempre yung mga challenges nila is ‘mas malaki pa rin yung
challenges.” [For example, Filipinos are into retailing like establishing sari-sari
cashless transaction because they are still used to using the old – traditional way
which is the payment using the physical cash. Also there are consumers that are
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still afraid to use this because they are feel that this transaction is unsecured since
“For me, uhm… I think natatakot kasi yung mga… tayong mga Filipino na
gumamit ng mga cards because, uhm… siguro ayaw nilang, ayun ng minsan kasi
nado-double swipe yung (inaudible).” [For me, uhm… we, Filipinos are hesitant to
use cashless cards since we all know that sometimes we accidentally swipe twice.]
(R7)
slow and the instruments that are needed to make cashless transaction happen
should improve our technology first and improve the internet here in the Philippines
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especially the elders. So it will be pretty hard for them to transact if the payment
“Yun nga yung familiarity ng tao kasi… hindi naman lahat tayo mulat sa
ganitong sistema. Uh… konti lang kasi ang gumagamit kasi, uh… di naman lahat
because we all know that… not all of us are exposed to this kind of system. There
are only few who use the system since… not all Filipinos finish their studies.] (R9)
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change the current transaction. According to most of the respondents that the
government should initiate first to mandate this type of transaction because after
all they have the power to change the transaction especially, Bangko Sentral ng
Pilipinas.
“Yung government siguro dapat ipush nila like, uh… i-enforce nila yung
maliliit since na… mas marami sa Pilipinas yung… mga… maliliit, yung may maliliit
na pondo lang pero gusto nilang mag-transact ng mas mabilis…” [The government
should… enforce those people with little investments since these kinds of people
are highly concentrated in the Philippines where despite their investments is they
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government should implement this, when the implementation comes from the
government the consumers, will no longer have the choice but to follow.
“For me… uhm… the government should make an online incentive, like
discounts on online shopping and… I think they should really make sure that online
transaction or cashless transaction is safe because a lot of… Filipinos still doubt
that cashless transaction is safe, that’s why they still prefer to use physical cash.”
(R5)
ensure the security to attract more Filipinos. That is one reason why Filipinos are
afraid to convert their transaction in cashless because they are afraid that their
“The government will focus dun sa security sa, uhm… i-sesecure yung
breaching tsaka yung, uhm… parang… anong tawang dito… data integrity.” [The
government should focus on the security. They have to secure the breaching
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would be lost but it will be gradual because there are still establishments that
systematically or gradually.
“We are uhmm… country most independent on cash so, I think it would… it
will be lessen drastically and... maybe it’s the end for… uhm… our currency.” (R8)
THEME 2: WILL RETAIN. Lots of them said cash cannot be eradicated for
the sense that small businesses still make use of it. Also, some establishments
“Actually it stays the same kasi not all the time naman is applicable si cashless
Jollibee ng cashless transaction pero may mga stores tayo na yung mga sari – sari
store so I think about wala namang mangyayari sa ganun." [It will actually stays
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the same since not all the times cashless transaction is applicable. For example
7/11 or Jollibee implements cashless at a certain point, but there are still sari-sari
stores which wouldn't be able to implement it so I think cash would still stay as
transaction will be abundant and that the legal tender or physical will get lost since
“Syempre… magiging useless yung pera, kaya mawawalan ng silbi yung pagod at
yung ginagastos sa paggawa ng pera natin.” [Of course… the legal tender will be
useless and the effort and expenses needed to make physical will be useless.]
(R10)
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DISCUSSION
Michael Keeley (1988) presented in chapter 2 stating that a lot of individuals still
primarily rely using checks and cash in making transactions mainly because the
electronic payment system remains a far distant development. This basically fits
implemented due to its low infrastructure. Some of their answers also stated that
physical cash is still more convenient as there is no restriction when making small
Convenience is also the main factor why the Philippines hasn’t establish yet
a cashless society. Lots of people aren’t familiar about the system which made
them hesitant to use it to avoid such consequences and fraud. One respondent
said that this system won’t work if there is no merchant operating it. Others also
said that it won’t work without an internet which is also stated in an article by Arnab
Muherjee (2017). He said that the internet made transactions less hassle as digital
answer in which they also stated that the internet is an important medium in going
However, not all of their impressions about cashless are negative as they
also stated advantages of being cashless. There are supports that proved their
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answers are facts which is stated in the history if cashless transactions in the
second chapter. Fraud, theft, and other suspicious acts are now rampant these
days upon the invention of money. This is why some of the professional
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CHAPTER V
SUMMARY OF FINDINGS
The main purpose of the researchers why they conducted this study was to
know the reason why the Philippines hasn't yet established a cashless society.
The topic was supported by the question, "Why the Cashless Transaction does not
question to support this study. We came up with different themes by a large amount
of data and a lot of information that we collected from the respondents through an
interview. The results was related to the article by Michael Keeley (1988). It states
that there are many reasons that cash still remain popular to us individuals
because cash is very convenient and anonymous especially when you make small
purchases. Some of their answers was related to this as per them, there is no
restriction in cash when making small purchases and paying small fares. The main
factors why the Philippines cannot still implement the cashless transaction as their
payment system is the convenience and low infrastructure in this country. Based
in going cashless as online shopping and online billing requires it. Some states
that there’s a lot people who is unfamiliar in this kind of payment system that's why
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the attraction to it is not spreading in the whole country. However not all of their
opinion and impressions about cashless are negative, some professionals and
being cashless. According to them it saves more time and it is much easier and
safer than the ordinary transactions. These results was accurate to some of related
respondents to come up with this findings. As we know that the purposive sampling
individuals that is suitable to answer our questions. We chose this kind of sampling
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CONCLUSION
cashless payment and prefer it instead of using cash. They said that cashless
transaction will provide convenience since you're not going to bring a lot of cash in
your purse and security, because you can avoid pick - pockets and robberies.
Participants also said that this maybe the mode of payment in the near future due
security and increase of their responsibility in handling their money. They negative
side of going cashless are the lack of education and promotion of consumers,
Because of this negative effect it’s harder to please and convince hesitant
consumers.
Though currently there are stores and facilities that transact cashless but
there are a lot of challenges that prevent the Philippines in establishing a cashless
familiarity of the consumers, not all Filipinos are ready to go cashless since there
are a lot of hesitant consumers like the elderly who still prefers to use the old -
fashioned way. Next, convenience since not all Filipino are comfortable in using
this type of transaction. But the real problem is that there is a low infrastructure
that the Philippines have. As we all know, the Philippines have a lowest average
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internet speed in Asia Pacific, which is the number 1 instrument needed to make
In the contrary, the study also pointed out that even the cashless transaction
are facing challenges because of the acceptance, familiarity, convenience and low
infrastructure, the study shows that Filipino citizens really shows interest in using
this kind of transaction. Despite the fact that legal tenders may vanished once
cashless transaction will be implemented. This only shows that Filipinos are ready
to accept the changes in transacting, the government just need to promote and
give education to others to notify them on how to use it. The government maybe
should have make an initiative to mandate to use cashless transaction, which could
be beneficial to every citizens. They just need to tighten the security so the hesitant
All the reason why cashless transaction is not gaining traction in the
Philippines are purely negative. So the government should take actions in order to
eliminate this and encourage other Filipinos to use this kind of transaction.
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RECOMMENDATIONS
in going cashless by the mere fact that lots of Filipinos know less about the system.
Considering that they have the power to execute such laws, they should create an
act or statue to empower the use of cashless transaction in the country by slowly
technological status and thus, weakening the use of physical cash. It would also
be better if the government will expand their views and grant the needy rights to
About the technological status of the country, we also suggested that the
benefits to people and to lift the economic status of the country. They would also
have to work on the weak signal strength of the internet to boost more cashless
This study only limits its respondents to 10 who are situated in Metro Manila.
However for future researchers who wanted to conduct again and set to improve
collect more information and to expand its setting outside Metro Manila to express
others' opinions who are living outside cities. Aside also from professionals and
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Greetings!
If you agree to be part of the research, I will conduct an interview with you at a time
and location most convenient for you. It will take around 15 to 30 minutes. With
your permission, I would like to record the interview to ensure accuracy in your
response.
To protect your privacy, your name and those of others you mention will be
anonymized, and any identifying personal information will be changed. I also
assure you that all the information you say will be completely confidential and will
only be used for this research.
As a sign of our gratitude for your time, I will provide you with small token. If you
have any questions or concerns, you may contact me thisiskthrn09@gmail.com or
0917 – 500 – 4537.
Your participation in this study will greatly help the understanding of why does
cashless transaction not gaining traction in the Philippines. If you wish to
participate, please sign the consent from below.
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________________________________________________________________
____ I agree to participate in this study based on the terms of this letter.
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Aide Memoir
experience?
your experience?
Cashless Economy?
6. What do you think will happen to the legal tender or the currency
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Thematic Analysis
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REFLEXIVE JOURNAL
Prior to landing on our final research topic, we deliberated for weeks just to
come up with a good research title. We do came up with lots of topic choices and
this includes feminism, business completion, and more but we find it hard to be
expounded and these also wouldn't bear to business management and accounting
which was the strand that we took. Hence, cashless transaction perfectly suited to
our taste and it was also related to business so we pondered and came up with a
final research title - Cashless transaction: Why not gaining traction in the
Philippines?
I wasn't a pioneer in research at the time so I still got little knowledge about
the topic, but it was my first time to deal with qualitative research, which I thought
was difficult at first. But what surprised me was its quiet smooth compared to our
previous study in junior high school which involved running data in Microsoft Excel.
Though it's a little bit rigorous when it comes to specificity, it was fun working on
our study although we sometimes fail to observe time management and some of
my groupmates were indolent occasionally. There are parts were I found it easy to
compose and there are also I found hard and time consuming. Generally, I've
learned a lot since I have now realize that research is not just about the basic
searching on the web and just copy everything unlimitedly, it generally follows
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I hope by and by, I would learn more about it which we haven't tackle about or
have missed during discussion. I do also hope that I would learn to write a paper
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to other things beyond it. I really like the topic of our research study, because it is
unique and interesting. But before we come up with the topic, we do have a lot of
discussion and brain storming. We suggested different ideas to choose the best
topic for us. It just became hard choosing because our professor told us that o’ur
topic should be connected to our strand. After a week, we finally chose the
“Cashless Transaction” to be our topic. At first, it was scary that we may not
accomplish it on time because I thought that this topic is so hard which is true. But
it became easier because the task was just distributed to each of us and we always
have a discussion about what we are going to do. Sometimes there are problems
research and I’m so happy that I have experience it. I thought that research is just
like searching in the internet but it’s not. You really have to follow a lot of
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How do we come out our research? First we chose topic that most relevant
and interesting. We chose the topic Cashless Transaction, we want to know why
not gaining this traction in the Philippines? And what are the advantages,
and the process to do it right because it was my first time. I learn when I get some
info in internet you need to cite and when you search you need to choose an
answer that’s relevant and most accurate. There are times that were running our
time because in the next day we need to pass our work. I learn while I’m
Now, if we’re going to do again a research paper I want to learn more I want
Freidalyn P. Lababo
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We actually have a lot of research topics on our mind. Like feminism, and
etc. but we realized that our topic wasn't related to the strand that we took, which
up with cashless transaction. I’m familiar with it but I don't really know the use of
it. Especially that there is no research conducted about cashless transaction here
in the Philippines. I’m not really good at research so that made me nervous.
not an easy topic but it is interesting especially that really has some idea about it.
And the more I research about it the more I learned and that more I got interested
Marjorie G. Tanabe
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long time to choose a perfect research study that is related to our track which is
find it hard to specify or expound so that how we end up with Cashless Transaction
here in the Philippines. We expounded this topic and entitle this “Journey towards
actually the one I’m worried about in the beginning of this class. Because almost
half of our class have an experience in this area. My first impression in doing a
research is it would be difficult. But as I was moving forward to doing our research,
I was surprised that I can make a research paper and actually our research teacher
really praise our work, saying that our research topic was quite interesting. So I
doing the chapters one by one, it was really fun and interesting, and of course, we
study, I realized and learn that you can learn a lot of things in doing research and
it should be done with passion. Also, I learned that it is always not right to copy
everything’s work in the internet, we should always cite on what we get to give
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to thank my co – researcher in trusting me to lead the group and also Ms. Arleth
Follero for mentoring us as we go on the process. I hope in the near future I can
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REFERENCES
Tee, Hock Han and Hway – Boon Ong (2016). Cashless Payment and Economic
https://www.questia.com/read/1G1-478141086/eschewing-cash-the-
challenges-of-cashless-transactions
https://www.imoney.ph/articles/cashless-payment-philippines/
https://fraser.stlouisfed.org/files/docs/historical/frbsf/frbsf_let/frbsf_let_198
80415.pdf
Finance Monthly (2017). A Cashless Society: The Urban Myth of 2017. Retrieved
from https://www.finance-monthly.com/2017/02/a-cashless-society-the-
urban-myth-of-2017/
http://www.vanillaplus.com/2015/08/07/10551-history-of-cashless-
payments/.
evolution-history-of-cashless-and-digital-payments/
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http://opinion.inquirer.net/84854/beep-card-for-convenience.
Evans M. (2017) Three Payment Trends That Will Change How We Pay in 2018.
Retrieved from
https://www.forbes.com/sites/michelleevans1/2017/10/27/three-payment-
trends-that-will-change-how-we-pay-in-2018/.
https://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/.
banking-personal-finance/.
Riju Dave (2016). Here are the advantages of cashless payments and the pitfalls
https://economictimes.indiatimes.com/wealth/spend/going-cashless-is-it-
good-for-you/articleshow/55908649.cms
disadvantages-cashless-economy.html
from https://www.quora.com/profile/Vijay-Patwardhan
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http://www.speedtest.net/global-index#mobile
https://www.manilatimes.net/going-cashless/360413/
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PERSONAL BACKGROUND
Date of Birth : December 8, 2000
Age : 17 yrs. old
Place of Birth : Sindangan, Zamboanga del Norte
Gender : Male
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic
Father’s Name : Rochel E. Galo
Mother’s Name : Getta A. Galo
Languages Spoken : English, Tagalog and Cebuano
EDUCATION
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PERSONAL BACKGROUND
Date of Birth : January 20, 2002
Age : 16 yrs. old
Place of Birth : Malabon City
Gender : Female
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic
Father’s Name : Amos M. Garcia
Mother’s Name : Princess Lyn C. Garcia
Languages Spoken : English and Tagalog
EDUCATION
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FREIDALYN P. LABABO
#11 DAMA DE NOCHE ST. LUMANG BAYAN EXECUTIVE
VILLAGE, ANTIPOLO CITY
Dennypaderes@gmail.com / 0966 – 567 – 9321
PERSONAL BACKGROUND
Date of Birth : August 11, 2001
Age : 17 yrs. old
Place of Birth : Delgado, Kamuning
Gender : Female
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic
Father’s Name : Wilfredo R. Lababo
Mother’s Name : Rosalinda P. Lababo
Languages Spoken : English and Tagalog
EDUCATION
MARJORIE G. TANABE
#9 VILLA ENCARNACION MARIES VILLAGE II MAYAMOT,
ANTIPOLO CITY
Marjorie.Tanabe22669@gmail.com / 0945 – 147 – 4261
PERSONAL BACKGROUND
Date of Birth : December 29, 2001
Age : 16 yrs. old
Place of Birth : Antipolo City
Gender : Female
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic
Father’s Name : Satoru Tanabe
Mother’s Name : Marisa G. Tanabe
Languages Spoken : English and Tagalog
EDUCATION
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KATHERINE LOUISE G.
VALIENTE
#141 DR. PILAPIL ST. SAN MIGUEL, PASIG CITY
Thisiskthrn09@gmail.com / 0917 – 500 – 4537
PERSONAL BACKGROUND
Date of Birth : May 10, 2002
Age : 16 yrs. old
Place of Birth : Pasig City
Gender : Female
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic
Father’s Name : Virgilio S. Valiente
Mother’s Name : Lalaine G. Valiente
Languages Spoken : English and Tagalog
EDUCATION
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