Journey Towards Cashless

UNIVERSITY OF THE EAST – MANILA
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“JOURNEY TOWARDS CASHLESS: WHY CASHLESS TRANSACTION IS

NOT GAINING TRACTION IN THE PHILIPPINES?”
A Thesis Presented to
The Basic Education Department
College of Education
University of the East – Manila
In Partial Fulfillment of the Requirements

for Qualitative Research
By:
Galo, Chelge Gyle A.

Garcia, Angela Mae C.
Lababo, Freidalyn P.
Tanabe, Marjorie G
Valiente, Katherine Louise G.
OCTOBER 22, 2018

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APPROVAL SHEET
This is to certify that this research study entitled “Journey Towards
Cashless: Why Cashless Transaction is not gaining traction in the
Philippines?” presented orally and submitted by Chelge Gyle A. Galo, Angela
Mae C. Garcia, Freidalyn P. Lababo, Marjorie G. Tanabe and Katherine Louise
G. Valiente has been approved and accepted as partial requirements for
Qualitative Research with a grade of PASSED on October 22, 2018.
_____________________________
Ms. Arleth T. Follero
Qualitative Research Adviser
_____________________________
(Name of Panel Member 1)
Panel Member
_____________________________
(Name of Panel Member 2)
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.
Galo, Chelge Gyle A. Garcia, Angela Mae C.

Candidate Candidate
Lababo, Freidalyn P. Tanabe, Marjorie G.

Candidate Candidate
Valiente, Katherine Louise G.

Candidate
Ms. Arleth T. Follero

Adviser
October 22, 2018
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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
working on our study even on difficult times.
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
as possible. We were so grateful to have such a teacher with passion, sincerity
and dynamism in her profession.
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
concernment on us students who wanted to gain knowledge about research.
Without your firm and visual, we would not have the opportunity to finish or create
this paper.
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DEDICATION
As researchers of this study, we wholeheartedly dedicate this to be our
beloved parents who have been our motivators, inspiration source, and providing
their constant support emotionally, morally and financially. This will then serve as
a tribute for all their sacrifices they’ve exerted for us.
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
which this study would not be published without him.
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
CHAPTER I: The Problem and Its Background

1.1 Introduction ........................................................................................ 10
1.2 Statement of the Problem .................................................................. 12
1.3 Conceptual Framework ...................................................................... 13
1.4 Scope and Delimitation ...................................................................... 16
1.5 Significance of the Study ................................................................... 17
1.6 Definition of Terms ............................................................................. 18
CHAPTER II: Review of Related Literatures and Studies

2.1 Related Literatures and Studies ......................................................... 19
2.2 Synthesis ........................................................................................... 26
CHAPTER III: Research Methodology

3.1 Research Design ............................................................................... 27
3.2 Participants of the Study .................................................................... 28
3.3 Sampling Procedure .......................................................................... 29
3.4 Research Instrument.......................................................................... 30
3.5 Researcher’s Role ............................................................................. 31
3.6 Data Gathering Procedures ............................................................... 32
3.7 Data Collection .................................................................................. 33
3.8 Analysis of Data ................................................................................. 34
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CHAPTER IV: Presentation, Interpretation and Analysis of Data

4.1 Findings ............................................................................................. 36
4.2 Discussion ......................................................................................... 50
CHAPTER V: Summary of Findings, Conclusion and Recommendations

5.1 Summary of Findings ......................................................................... 52
5.2 Conclusion ......................................................................................... 54
5.3 Recommendations ............................................................................. 56
LIST OF APPENDICES .............................................................................. 8
REFERENCES ............................................................................................. 80
CURRICULUM VITAE ................................................................................. 84
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LIST OF TABLES
Table 1. Opinions about Cashless Transaction ........................................... 36

Table 2. Advantages .................................................................................... 38
Table 3. Disadvantages ............................................................................... 40
Table 4. Challenges of the Philippines ....................................................... 43
Table 5. Actions of the Government to encourage Filipinos ........................ 46
Table 6. Effect to the Legal Tender ............................................................. 48
LIST OF FIGURES
Figure 1. Simulacrum ................................................................................... 35
LIST OF APPENDICES
Appendix A. Informed Consent ..................................................................... 58

Appendix B. Aide Memoir ............................................................................. 60
Appendix C. Thematic Analysis .................................................................... 61
Appendix D. Reflexive Journal...................................................................... 74
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ABSTRACT
This research paper finds answers on why cashless transactions is not gaining
traction in the Philippines. Cashless Transaction is a financial scheme where
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
sampling method which the researchers conducted a semi - structured interview
to 10 cashless - users respondents - 5 commoners and 5 professionals.
Information were voice - recorded to ensure data accuracy and it is transcribed
according to its theme and concepts. Results show that familiarity, convenience,
and low technological investments were the factors hindering many people not to
go cashless. These findings were related to the previous studies conducted by
some the country is ready for cashless transactions, Filipinos contrariety is not yet
prepared to go cashless.
KEYWORDS: Cashless Transaction, Cashless, Traction, Legal Tender,

Philippines
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CHAPTER I
The Problem and Its Background
BACKGROUND OF THE STUDY
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 –
permeating entities, namely Technology and Money, came together to blend
seamlessly with our lives.
Cashless Transaction are way of making payments without the use of
physical cash, a gateway to technological advancement in the field of world
economy. A cashless payment is a behavioral change in the people where people
eliminate usage of money as a medium of exchange for goods and services by
allowing electronic transfer payments or non – electronic payment via cheques
(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
predominant in many countries, with examples including intermediaries such as:

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Paypal, Digital Wallet System operated by companies like Apple, contactless
payment by electronic card or smartphone, electronic bill and banking in
widespread use. The electronic payments have led us to believe the cashless
society is well within our reach.
The Philippines has been an upward surge in Cashless Transaction in the
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
Cashless according to the “Visa’s Consumer Payment Attitudes Survey” in 2016.
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
position to leverage on the country’s strong electronic payment opportunities
(Adrian, 2018). Though, a lot of Filipinos are interested in having a Cashless
Transaction still, why does the Philippines can’t be a Cashless Nation now?
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STATEMENT OF THE PROBLEM
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
gaining traction in the Philippines?” The variables that might be introduce to
expand the question include:
1. What are the challenges in Cashless Transaction?
2. What are the advantages and disadvantages that an individual can
experience from Cashless Transaction?
3. What should government do to encourage cashless economy in the
Philippines?
4. What will an individual think will happen to the Legal Tender once the
Cashless Transaction will be implemented nationwide?
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CONCEPTUAL FRAMEWORK
CASHLESS TRANSACTION
AVAILABILITY OF INTEREST OF FILIPINOS IN

TECHNOLOGIES CASHLESS TRANSACTION
WEAK HESITANT RELY ON THE LACK OF LATE

INFRASTRUCTURE OLD – AWARENESS INTRODUCTION OF
INVESTORS
FASHIONED WAY EMV TECHNOLOGY
SLOW INTERNET
CONNECTION
THINGS TO CONSIDER FOR THE FUTURE INVESTORS, DEVELOPERS AND

PLANNERS
SUITABLE CONDITION FOR INVESTING IN THIS KIND OF TECHNOLOGY
The 2 major consideration why cashless transaction is not gaining
transaction are as follows:
1. Availability of Technology
We all know that cashless transactions are heavily reliant on technologies
and with this technology where this kind of transactions evolves into. There are
several factors to consider in regard to this concern.
Weak Infrastructure
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In able to reach all the stakeholders, cashless transactions need
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
we rank 99 out of 124 in the worlds ranking in terms of internet speed as of
September 2018 (Speedtest, 2018). Added to this is the unavailability of the
technology in some parts of the country.
To be effective in this aspect, providers need to aim high rate of
inclusion to gain acceptance of the general public.
To do this, government and private sectors needs to work as one
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
Investing in this kind of endeavor requires a hefty capital. You need
to obtain expensive materials and devices, secure government mandated
permits and regulations, etc.
The reason why the Philippines have low number of investors is
because of the existence of the duopoly. The two biggest companies
dominated the market and they have an influenced with the government that
makes it difficult to other players to invest.
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2. Interest of Filipinos in Cashless Transaction
Because of lack of education, marketing drive and weak
infrastructure the interest of Filipinos gone tarnish.
Rely on the old – fashioned way
It was known that the current payment system in the Philippines is
predominantly cash based. The Philippines in 2013 reached about P3. 1
million per month, and only 1% of these payments were done electronically.
This explained the fact that Filipino households don’t have a formal
relationship with a bank. (Aguirre, 2017)
Lack of Awareness
Lack of public awareness and knowledge of the digital payments and
other available digital payment schemes, especially in far - flung areas, are
also seen as hindrances and prevent people in transacting cashless.
Late Introduction of EMV Technology
Europay, Mastercard and Visa or also known as the EMV
Technology is one of the forms and major player of cashless transaction.
Due to the introduction of this technology, it gave open opportunities to the
financial institution to do cashless transaction more. However, it was late
introduced to the country, so up to this day, financial institution struggles to
implement this kind of technology.
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SCOPE AND DELIMITATIONS OF THE STUDY
In general, the focus of the study is directed towards Cashless Transaction
in the Philippines. This study will be a significant endeavor in promoting the
Cashless Transaction in the Philippines. It also hopes to establish an
understanding on what may happen to the Philippines once the Cashless
Transaction had been implemented. The participants were limited to those
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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SIGNIFICANCE OF THE STUDY
The researchers conducted this study to know why Cashless Transaction is
not gaining any traction here in the Philippines. The result of this study will be a
great benefit to the following:
 Filipino Citizens, wherein they can gain knowledge on how Cashless
Transaction works
 Banks and Telecommunication Companies wherein they can gain reference
for initiative
 Financial Technology Companies, wherein they can also get reference for
their Business Proposal
 The Researchers, they can benefit in this study to raise awareness about
the Cashless Transaction in the Philippines. They also have developed their
writing, analysis and interpretation skills need in order to make a good
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
which will serve as template to modify their research.
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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.
Infrastructure – electronic instruments that are needed to make the cashless
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
information, usually for financial gain.
Channels – are the vehicles through which customers can interact with a financial
institution. These may be used for either sales or service interactions.
Hacking – using of computer to gain unauthorized access to data in a system.
Internet Connection – the large system of connected computers around the world
that allows people to share information and communicate with each other.
Stakeholders - a person with an interest or concern in something, especially a

business.
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CHAPTER II
Review of Related Literatures and Studies
The idea of Cashless Transaction has fascinated other countries like the
Philippines. Cashless Economy is not the complete absence of cash, it is an
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
review of the literature regarding Cashless Transaction:
Prediction of Cashless Transaction in the Past
According to Michael Keeley (1988) there’s a little possibility that the U.S.
will become a Cashless Society. Despite the growing popularity usage of
technology in terms of communication and invention of computers, a lot of
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
small purchases. Second is that Cash Transaction is anonymous, which means it
can be widely used in illegal transactions and even tax evasions.
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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.
Though original predictions of a cashless society date back to the late
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
the not – so tech – savvy majority.
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Trends in Cashless Transaction
Generations ago, consumers visit streets to fulfill one’s shopping needs and
undoubtedly pay in cash. By the cause of emergence of lots of computers, a lot of
things changed then. Cashless transactions also come in different ways, with lots
of researchers try to find a faster and convenient ways every moment.
Digital commerce is no longer restricted to computers or smartphones.
There is now a plethora of things, including connected devices, appliances,
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
monitor International estimates that nearly 81 million wireless speakers, such as
Amazon Echo, will be sold globally in 2017, with that category expected to expand
84% from 2017 to 2021 (Michelle Evans, 2007).
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
place, and nobody can challenge the legitimacy of the transfer.
Financial services built on block chain technologies must provide efficiency.
Banking systems must maintain a ledger, which is a complete record of financial
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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
that replicates an entire ledger to participants natively; there is no need to develop
custom protocols to synchronize and secure financial transactions (Maxim
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
ourselves a better future
History of Cashless Transaction
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
to reduce the risks of people's day-to-day transaction.
According to Vasily Bernstein (2015), cashless transactions began in
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
mid-20th Century, using of cheques started to decline. People started to adapt
more advanced changes where it became easier to call to a bank to validate a
payer's status. Machines, sensors, and other technological devices arose. These
machines made cheque sorting a thousand times faster than doing the manual
thing.
On a separate study conducted by Arnab Muherjee (2017), the internet
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
discovery of PayPal in 1999, an online banking company founded on 1999
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
the payment service.
In an article presented by Rina Jimenez-David (2015) l, the beep card
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
needed to insert and collect the cards through slots.
In general, day to day transactions significantly evolved from manual to
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.
Advantages and Disadvantages of Cashless Transaction
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
transactions are on record. While, the disadvantage of cashless it is easy to block
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.
In an article presented by Vinish Parikh (2017) the advantages of cashless
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
transactions where many areas in society is illiterate and poor
According to Vijay Patwardhan (2016) conceptually, Cashless society is
very beneficial so that everyone is praising the decision of being a cashless
Economy. If cashless transactions are widely accepted, it will be very convenient
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.
It summarizes that the cashless economy has advantages as well as
disadvantages. Adopting cashless economy in one country should carefully
analyze the merits and demerits, the government should take the decision as the
cashless economy cannot be imposed on the people rather it can be gradually
adopted by the people of the country. Not all the people have enough knowledge
of doing this kind of transaction.
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SYNTHESIS
As technology has brought sea of changes in humanity, uses of cash has
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
determined to clearly justify the reasons about the torpidity.
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CHAPTER III
Research Methodology
This chapter will explain the method adopted by this research. This chapter
will mention every component involved in conducting this research from
population, population frame and sampling techniques used for the interview.
Finally, this chapter provides a detailed explanation of the selected mode of
analysis used and data collection method.
RESEARCH DESIGN
The objective of this study is to know the experiences of Filipinos about
cashless transaction, in order to know the reason behind why cashless transaction
is not gaining traction in the Philippines. Therefore, the researchers applied
phenomenology as their research design. Phenomenology is a qualitative
research method that is used to describe how human beings experience a certain
phenomenon. A phenomenological study attempts to set aside biases and
preconceived assumptions about human experiences, feelings, and responses to
a particular situation. It allows the researcher to delve into the perceptions,
perspectives, understandings, and feelings of those people who have actually
experienced or lived the phenomenon or situation of interest.
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PARTICIPANTS OF THE STUDY
The researcher based their participants to mainly on college students to
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
qualifications that needed to be satisfied by the participants is first, they should be
18 – 50 years old. Second, they should be eligible in opening bank accounts,
because currently the cashless transaction used in the Philippines has a
connection to the bank. Third, they should be capable of using technology. The
respondents are limited to exactly ten participants. Furthermore, the researchers
will only look for respondents in Metro Manila.
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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
In this study, the researchers used an interview guide as an instrument. The
interviews were intended for the respondents who are transacting via cashless
transaction in Metro Manila. The researchers would gather information by
personally asking their opinions, pros (advantages) and cons (disadvantages),
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
encouraged in using cashless transaction. The following question would also
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
instrument to allow the interviewer to ask follow – up questions to gain more
information regarding cashless transaction. The instruments was validated by the
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
The researchers of this study assure to apply ethical principles in
conducting a research. The researchers also assure to keep information coming
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
discriminate the respondent’s answer as they stating their personal perspective.
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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DATA GATHERING PROCEDURE
This study observes ethical procedures to protect the dignity and the rights
of the respondents, the researchers conducted a certain criterion that will be
looked further in Metro Manila, to allot an adequate number of participants
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
prefer in their convenience. Each interview lasted for about 20 – 45 minutes
depending on their responses. After the gathering of data, the data was then
recorded, transcribed and analyzed by the researchers.
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DATA COLLECTION
For the purposes of this research, semi – structured interviews were used.
Obtaining data from participants with different experience prevents information
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
the satisfaction of research objectives, but additional questions were made
encountered during the interviews.
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DATA ANALYSIS
In this study, the researchers used thematic analysis is analyzing data
gathered from respondents. Thematic analysis is a systematic approach to the
analysis of qualitative data that involves identifying themes or patterns of cultural
meaning; coding and classifying data, usually textual, according to themes; and
interpreting the resulting thematic structures by seeking commonalties,
relationship, overarching patterns, theoretical constructs or explanatory principles.
In analyzing data, first the researchers transcribe the interview they recorded with
the respondent. The researchers used the semi-structured interview in gathering
data and applied purposive sampling method since the study observed a criteria
in which information gathered must only be applicable to adult cashless users.
During interviews, responses were voice-recorded to ensure not to miss any
necessary and important information mentioned by the respondents. Data were
later transcribed and classified based on the certain themes found. After
classifying, correlating data was later performed to relate the respondents'
answers whether their responses is the same or distant on those results in
previous studies. And corresponding to this, results shall not be biased as stated
in the ethical principles of research.
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CHAPTER IV
Presentation, Interpretation and Analysis of Data
This chapter presents discussion and results obtained from the
information’s given by the respondents during the interview. As what is stated in
our methodology, we selected 10 respondents, 5 professionals and 5 common
people to answer our questions needed to support this study. The results
generated were obtained by interviewing these respondents about their opinions
about cashless transaction, advantages and disadvantages of cashless
transaction, challenges of cashless transaction in the Philippines, actions needed
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
for the study.

(Figure 1. Simulacrum)
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The interview among respondents resulted into formulation of the following
master themes; opinions, advantages, disadvantages, challenges, actions of
government and effect to the legal tender. The master themes where divided into
different subordinates in able to analyze it further.
FINDINGS
TABLE 1: THEMES IDENTIFIED FROM OPINIONS ABOUT

SUBORDINATE
DESCRIPTION
THEMES
Consumers wouldn’t have to worry about your busy
CONVENIENCE schedule because you can easily pay bills, pay
merchants, book transportation with your mobile wallet.
FUTURE’S MODE
It will be the way of payment in the near future.
OF PAYMENT
Help business people grow their customer base and
GAME CHANGER resource pool, far beyond the limitations of their
immediate geographic area
THEME 1: CONVENIENCE. Almost half of the respondent stated that
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
they are travelling.
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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)
THEME 2: FUTURE’S MODE OF PAYMENT. Others said that it is the
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
smartphone market is seen to resurge this year as competition in the industry
“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
that all will be cashless.] (R2)
THEME 3: GAME CHANGER. Lastly, R10 stated that cashless is a game
changer since it can turn the tables of the companies’ sales.
“Cashless is also a game changer in any form of industry, because…. It will
a…. how would I say that... because it has a lot of potential for…. Uh…. to increase
uh… a companies’ sales transaction.” (R10)
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TABLE 2: THEMES IDENTIFIED FROM ADVANTAGES OF

SUBORDINATE
DESCRIPTION
THEMES
Consumers don’t need to carry big bundle of cash and
CONVENIENCE
worry about cash theft.
The elimination of actual cash might even reduce black
SECURITY
money and crimes such as money laundering.
INCREASE OF The written record will help consumers keep tabs on your
RESPONSIBILITY spending and this will result in better budgeting.
THEME 1: CONVENIENCE. Most of the respondents said that cashless
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
won't need to go out just to withdraw and all.
"Cashless transaction, it is uh… mas convenient siya because it makes
transaction more faster and easier." [Cashless transaction, it is uh... more
convenient because it makes transaction more faster and easier.] (R7)
THEME 2: SECURITY. Security. Some of the respondents said that less
cash decreased crimes. So by going cashless it can decrease crimes. Because it
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
very dominant here in the Philippines, so it provides security." (R5)
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THEME 3: INCREASE OF RESPONSIBILITY. According to our
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.
"It increases our responsibility, because usually we people…. When we
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…
it gives us note that we don’t dare to spend carelessly." (R5)
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TABLE 3: THEMES IDENTIFIED FROM DISADVANTAGES OF

SUBORDINATE
DESCRIPTION
THEMES
LACK OF People who live in the lower level of pyramid are not
EDUCATION AND technology friendly .They don't know how to operate a
PROMOTION smart phone.
Since we are culturally not attuned to digital
SECURITY transactions, even well educated people run the risk of
falling into phishing traps.
ENTAILS There are additional charges that are levied by the
ADDITIONAL FEES vendors when they offer an online payment facility
INEQUALITY Everyone cannot buy a smartphone and data packs.
People who live in rural areas will be affected a lot
AVAILABILITY OF
because the basic infrastructure for cashless
INFRASTRUCTURES
transactions is missing.
THEME 1: LACK OF EDUCATION AND PROMOTION. It’s a problem for
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
availability of other options to conduct transactions.
“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)
THEME 2: SECURITY. Based on their answers, it reflects that one of the
big disadvantages of cashless transaction is possibility of identity theft, it may get
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your personal information because sometimes there’s an error to their programs
and stuffs.
“Since it is transferring via channels like internet or phones this can be
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
be vulnerable third party attacks uh… of hacking or capturing or logging of
transaction.] (R4)
THEME 3: ENTAILS ADDITIONAL FEES. While credit card use obviously
involves more up-front costs, in the form of card fees, the processing costs
associated with a cash transaction are actually more prohibitive.
“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)
THEME 4: INEQUALITY. Another disadvantage is not all Filipinos can
afford to buy phone and avail credit cards and it is difficult to implement the
cashless transaction in a country in which many areas is illiterate and poor.
“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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THEME 5: AVAILABILITY OF INFRASTRUCTURES. The makers of the
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
instruments for the purpose of all the Filipinos.
“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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TABLE 4: THEMES IDENTIFIED FROM CHALLENGES OF THE

PHILIPPINES TO ESTABLISH AS A CASHLESS ECONOMY
SUBORDINATE
DESCRIPTION
THEMES
The acceptance and readiness of Filipinos in going
ACCEPTANCE
cashless.
CONVENIENCE The comfortability of people in cashless transactions.
There are still some places which take cash and do not
LOW
accept cards. Making a purchase at such locations with
INFRASTRUCTURE
card becomes difficult.
FAMILIARITY The knowledge of people about cashless transactions.
THEME 1: ACCEPTANCE. Not all Filipinos are ready to change to cashless
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
investment ko para lang magkaroon – mag-accept ng cashless. So isa rin yun sa
challenges.” [For example, Filipinos are into retailing like establishing sari-sari
stores. They would probably anticipate ‘maybe my investment would be bigger
than my profit if I would go cashless’. That’s one of the challenges.] (R2)
THEME 2: CONVENIENCE. Not all people are comfortable in using
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
they cannot see or touch their cash or money.
“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)
THEME 3: LOW INFRASTRUCTURE. The Philippines is a country that we
know as not an advance country in terms of technologies. We always fall behind
in terms of technologies. One superior problem is that the internet connection is so
slow and the instruments that are needed to make cashless transaction happen
are so expensive that not all people can afford.
“I think our technology is not as advanced as other countries. I think we
should improve our technology first and improve the internet here in the Philippines
because it’s hard to transact when the internet is slow.” (R5)
THEME 4: FAMILIARITY. Due to the lack of education especially in terms
of technologies like smartphones, not all people are knowledgeable by this
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especially the elders. So it will be pretty hard for them to transact if the payment
system will be change.
“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
ng Pilipino ay nakapagtapos ng pag-aaral.” [That’s it, the familiarity of people
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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TABLE 5: THEMES IDENTIFIED FROM ACTIONS OF THE

GOVERNMENT TO ENCOURAGE FILIPINOS TO USE
CASHLESS TRANSASCTION
SUBORDINATE
DESCRIPTION
THEMES
Action or ability of the government to think solutions to
INITIATE
problems.
Plans of the government to improve cashless
IMPLEMENT
transactions.
Ensure the safety of the money and people who are going
SECURITY
cashless.
THEME 1: INITIATE. The government should take actions if they want to
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
also wanted to transact fast.] (R4)
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THEME 2: IMPLEMENT. Another action that should be done is that
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)
THEME 3: SECURITY. Other respondents said that the government should
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
money will be transferred to another account.
“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
and… uhm… what you call this… data integrity.] (R3)
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TABLE 6: THEMES IDENTIFIED FROM EFFECT TO THE

LEGAL TENDER ONCE CASHLESS TRANSACTION IS
IMPLEMENTED
SUBORDINATE
DESCRIPTION
THEMES
GRADUALLY Legal tender will gradually get lost.
Legal tender will retain despite the implementation of
WILL RETAIN
cashless transaction.
WILL BE LOST Legal tender will be lost since it will become useless.
THEME 1: GRADUALLY. Some respondents said that the physical cash
would be lost but it will be gradual because there are still establishments that
cannot adjust to the quick changes of transaction. So it should be done
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
like jeepneys it is not applicable for cashless transaction. Cashless transaction is
only done in certain places only like malls and etc.
“Actually it stays the same kasi not all the time naman is applicable si cashless
transaction for example at a certain point pwedeng mag – implement si 7/11 or si
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
what it is. ] (R3)
THEME 3: WILL BE LOST. Other respondents said that cashless
transaction will be abundant and that the legal tender or physical will get lost since
it will be useless and it will be such a waste to still produce cash.
“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
Based on what the respondents said, it is somewhat related to the article by
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
the Philippine payment system where cashless transaction cannot still be
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
purchases and paying small fares.
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
payments benefited from the connectivity. This is similar to the respondents’
answer in which they also stated that the internet is an important medium in going
cashless as online shopping and online billing requires it.
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
respondents we interviewed suggested to go cashless as this reduce the risk of
forgery and encountering such suspicious activities. According to them, it is more
safe and secured compared to ordinary transactions we use these days.
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CHAPTER V
Summary of Findings, Conclusion and Recommendations
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
gain traction in the Philippines?” For us to be able to gather data we selected 5
common people and 5 professionals for a total of 10 respondents to answer 5
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
on some of respondents answer, they stated that internet is an important medium
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
common people that we interviewed stated the advantages and convenience of
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
literature presented in chapter 2. We used the purposive sampling in selecting our
respondents to come up with this findings. As we know that the purposive sampling
is an elective criteria that define a unique group and it is targeting a knowledgeable
individuals that is suitable to answer our questions. We chose this kind of sampling
technique because we need to collect an appropriate answer from people whose
knowledgeable about the cashless transaction.
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CONCLUSION
Over half of the population of the Philippines have tried electronic or
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
to the advancement of the technologies as the days passed. Some benefits
mentioned by the respondents from cashless transaction were convenience,
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,
security, entails additional fees, inequality and availability of infrastructures.
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
economy. Participants stated that one of the challenges is acceptance and
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
the transaction to happen.
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
consumers would be intrigued to use it also.
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
Based on the concerns of the respondents regarding why cashless
transaction is not gaining traction in the Philippines, the researchers duly
recommend that the government should implement programs on teaching people
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
fabricating cashless machines to enhance the convenience, security and
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
access the banking systems as going cashless starts in this point.
About the technological status of the country, we also suggested that the
Philippine government should invest more on high technologies to give more
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
users as it is the main medium in cashless transactions.
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
this study, we recommend to increase the number of respondents if possible to
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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adults who use cashless transactions, we also recommend to include
undergraduates or college students who go cashless to compare their views,
experiences, and opinions to those people to use it longer.
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September 19, 2018
Dear Mr. / Ms. / Mrs. Respodent

Interviewee
Greetings!
I am Katherine Louise G. Valiente, a Grade 11 student currently enrolled in a

research class at University of the East. For our research, we are investigating
about why the Philippines hasn’t establish a cashless economy. This is for
completion of our Practical Research 1 (For Business) subject. In this regard, I
hope to invite you to be a research participant of this study.
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.
Your participation in this research is completely voluntary, and if you choose to

stop the interview or withdraw your data, this choice will be respected. Your
participation in this study will benefit Filipino Citizens like you about cashless
transaction, while there will be no risk potential that you can encounter in
participating in this study.
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.
Sincerely yours, Endorsed by:
KATHERINE LOUISE G. VALIENTE MS. ARLETH FOLLERO

Researcher Research Teacher
University of the East University of the East
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________________________________________________________________
____ I agree to participate in this study based on the terms of this letter.
____ I do not wish to participate or will be able to participate in this study
____ I consent to being voice-recorded
____ I do not consent to being voice-recorded.
_________________________ ______________ ________________
Research Participant’s Full Name Signature Date Signed
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Aide Memoir
The research questions that the researchers used in order to gather
information and data to support their study are the following:
1. What is your opinion regarding Cashless Transaction?
2. What are the pros or advantages of cashless transaction in your
experience?
3. What are the cons or disadvantages of cashless transaction in
your experience?
4. What are the challenges of the Philippines in establishing as a
Cashless Economy?
5. What do you think should the government do to encourage the
Philippines to use Cashless Transaction?
6. What do you think will happen to the legal tender or the currency
as of today when the Cashless Transaction will be implemented?
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Thematic Analysis
Table 1: Themes Identified from the Opinions of Cashless Transactions
“Uh… well ng idea kasi ng cashless transaction is

Respondent uhm… walang cash na gagamitin.”
#3 “Uh… well the idea of cashless transaction is
uhm… no physical cash will be used.”
“Technology being enforced on the common

Respondent
people to be able to… move money to self or to…
#4
other people without using actual money.”
“The idea of cashless transaction is… uhm… a

Respondent
transaction without involving any physical cash or
#5
legal tender”
“And of course it’s really convenient no hassle

Respondent you don’t have to worry around cash that it may
#6 got lost or you would just misplace it unless you
have your phones.”
Convenience
“Cashless transaction, it is uh… mas convenient
siya because it makes transaction more faster
Respondent and easier.”
#7 “Cashless transaction, it is uh… much convenient
because it makes transaction more faster and
easier.”
Ah… cashless, yun yung… gagamit ka na hindi

involve yung… ano, uh… physical cash like
Respondent online banking.
#9 Ah… cashless, it is… you’re transacting while it
doesn’t involve…. What, uh… physical cash like
online banking.
“It saves more time sa pagbili sa mga mall pag

nagsho – shopping ganun. Kasi mas madali lang
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yung mga payment isa – swipe swipe lang

(laughs) ganern.”
Respondent
#10 “It saves more time in shopping in malls. Because
the payments will be much easier you just need to
swipe swipe your card (laugs) just like that.”
Respondent “It maybe… the future’s mode of payment due to

#1 the evolution of technology.”
“I think it will be a… a big part of the economy and

a big part of transactions that will happen in the
Respondent future na magiging lahat is cashless.”
Future’s Mode of
#2 “I think it will be a… a big part of the economy and
Payment
a big part of transactions that will happen in the
future that all will be cashless.”
“Cashless transaction ay, uhm… cashless

Respondent
transaction sites standard for the future of
#8
payment in the counry.”
“Cashless is also a game changer in any form of

Respondent industry, because…. It will a…. how would I say
Game Changer
#5 that... because it has a lot of potential for…. Uh….
to increase uh… a companies’ sales transaction.”
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Table 2: Themes Identified from the Advantages of Cashless Transactions
“Ang pros no’n, pag sinabi mong cashless…

convenience kasi karamihan ngayon lahat ng tao
Respondent nag – oonline na.”
#1 “When you say cashless, the pros of that is…
convenience because nowadays a lot of people
are using online in paying their transaction.”
“For the pros naman syempre yung benefit of not

carrying cash. Uh… imagine if you’re going to a
mall and you’re going to purchase something na
may dala kang malaking bag na pera.”
“For the pros, of course the benefit of not carrying

cash. Uh… imagine if you’re going to a mall and
Respondent you’re going to purchase something and you have
#2 a tons of money.”
“Siguro is yung comfortability mo na mag –

Convenience
purchase ng items on the comfort of your home
na kahit nasan ka”
“Maybe your comfortability to purchase items on

the comfort of your home or anywhere you are.”
“Well yung pros nun… uhm… as of now halos

lahat naman ng cashless transaction tulad ng fund
transfer, send money or uhm…bills pay ka uh…
mas convenient siya kasi kaya mo siyang gawin
Respondent uhm… anywhere.”
#3
“Well the pros of it… uhm… as of now almost
every cashless transaction like fund transfer, send
money or uhm… bills pay… it is much convenient
because you can do it uhm… anywhere.”
Respondent “The client will be able to transact… transaction or

#4 transfer money by uh… internet or phone in their
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comfortability in their homes, office or other

establishments that has the available channel.”
“You don’t have to worry if yung dala mong pera is

Respondent not enough kasi nasa card na yung pera mo.”
#7 “You don’t have to worry if the cash you brought is
not enough because your money is on card.”
“It has given me uhm… lots and convenience

Respondent especially when uhm… purchasing something like
#8 in convenient stores, when malls, I usually use my
debit card.”
“Pag cashless natural hindi involved yung pera

diyan eh… I mean, uh… may pera pero hindi mo
Respondent nahahawakan, so of course uh… convenience.”
#9 “When cashless it doesn’t involve any cash eh… I
mean, uh… it has cash but you can’t get hold of it,
so of course uh… convenience.”
“Mas convenient siya and it is much easier. Kasi

nga ayun nga tulad ng sinabi ko kanina (laughs)
Respondent isa – swipe swipe lang teh!”
#10 “It is much more convenient and easier. Because
just like what I’ve said earlier (laughs) you just
need to swipe and swipe your card sister!”
“So yung security mo na hindi ka na kailangang

magdala ng bag na cash at maiwas ka sa hold –
Respondent up diba?”
#2
Security “So in your security, you don’t need to bring a bag
full of cash to avoid robbery right?”
Respondent “You don’t need to bring any money, mobiles

#5 phones or credit cards are the only thing you
need, so this helps you from crimes, robbery and
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pic – pocket which is very dominant here in the

Philippines”
“I think it’s just uhm… not gonna worry about like

Respondent getting hold – up for money cause you know a lot
#6 of places in Metro Manila that is really risky for
you to carry around cash.”
“Kasi pag lalabas tayo in public wala tayong

hinahawakang pera so… iwas worry at dun din sa
Respondent mga mandurukot.”
#9 “Because when we’re in public places and we
don’t have any cash so… less worry and also to
robbers.”
“It increases our responsibility, because usually

Increase of Respondent we people…. When we know or see that we still
Responsibility #5 have money left in our hands… we tend to go
crazy on shopping or buying we want.”
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Table 3: Themes Identified from the Disadvantages of Cashless

Transactions
“Hindi pa naman lahat ngayon ano eh, uh…

parang… ano ‘to into internet eh kasi masyado
kasing cashless dapat talaga ano eh ma – master
Respondent nila yung internet connection.”
#1
“As of today not all uh… it’s like… what’s this into
internet because since it’s cashless they have to
Lack of master the internet connection.”
Education and
“Not everyone will be comfortable using cashless
Promotion Respondent
transactions. Maybe old people that are not, uh…
#2
are really into it.”
“Saka yung… familiarity na rin ng mga tao

Respondent disadvantage rin yun.”
#9 “And the… familiarity also of the people that is
also a disadvantage”
“And also syempre yung security kung, uh… yung

account mo is hindi siya ma – hack. So, uh…
since it’s digital, yung uh… hindi naman sa si
cashless is hindi secured pero yung feeling na
Respondent wala kang hawak na cash”
#2
“And also of course the security if, uh… your
account is not hack. So, uh… since its digital, the
Security uh… it’s not that cashless is not secured but the
feeling that you don’t have cash on hand.
“Hindi mo alam ano kung anong nangyayari sa

likod ng ginagamit mong channel yung mobile or
Respondent internet banking.”
#3 “You don’t know what is happening behind the
channel (mobile or internet banking) you’re
using.”
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“Since it is transferring via channels like internet

or phones this can be vulnerable third party
attacks uh… ng mga hacking or capturing or
Respondent logging ng mga transaction.”
#4 “Since it is transferring via channels like internet
or phones this can be vulnerable third party
attacks uh… of hacking or capturing or logging of
transaction.”
“Since it’s cashless it can be prone to hacking…

Respondent
hackers are known to rob banks especially
#5
payments that are made electronically like this.”
“Of course not everything will be perfect so of

Respondent
course there’s a possibility there will be an identity
#6
theft.”
“It might have the possibility of double swiping or

Respondent
double punching, or it may get your personal
#7
information even the access to your card.”
“Hindi complete yung security protection ng

account eh basta ganoon pero depende naman
Respondent kaya yun sa mobile wallet na gamit.”
#10 “Security protection of your account isn’t complete
eh but it depends to the mobile wallet you’re
using.”
“Next, Uhm… there is additional fees that are

Entails Additional Respondent
added to your transactions… maybe you don’t
Fees #5
see or feel that but there is additional fees to it…”
“Not all Filipinos can afford to buy uhm… cellular

Respondent phones or avail credits… commonly the only one
#5 who can afford this are the elite or middle class
Inequality persons.”
Respondent “A cons not all the people could actually avail or

#6 use cashless transaction.”
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“I encounter lots of problem uhm… especially

Availability of Respondent when using my debit card and… some stores
Infrastructure #8 don’t offer… what you call this… those kind of
mode of payment.”
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Table 4: Themes Identified from the Challenges of Cashless Transaction

that prevent the Philippines in establishing as a Cashless Economy
“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 investment ko para lang magkaroon – mag-
Respondent accept ng cashless. So isa rin yun sa challenges.”
#2 “For example, Filipinos are into retailing like
establishing sari-sari stores. They would probably
anticipate ‘maybe my investment would be bigger
than my profit if I would go cashless’. That’s one
of the challenges.”
“Sa cashless transaction kasi, uh… meron kang

firms na kinokonektahan, uh… for example yung
isang bank gusto gumamit ng cashless
transaction for sending money. So… kailang nila
ng isang parang merchant in the middle.
“In cashless transaction, uh… it involves firm

Acceptance Respondent connections, uh… for example a certain bank
wants transact cashless in sending money. So…
#3
they would require a merchant or somewhat in the
middle.
“Once yung connection sa kanila maputol uh… it
will cause parang, uh… issue yun.”
“Once the connection between them will

eventually be interrupted, it will cause certain
problems or issues.”
“Well unang-una kailangang sumunod sa mga

patakaran or sa mga policies na in-establish ng
Respondent
BSP…”
#4 “Well first and foremost, we have to follow the
policies implemented by the BSP…”
“Not all of us is knowledgeable about these kinds

Respondent
of transactions. So, people may have a cope up
#8
with… this mode of payments.”
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“For me, uhm… I think natatakot kasi yung mga…

tayong mga Filipino na gumamit ng mga cards
Respondent because, uhm… siguro ayaw nilang, ayun ng
Convenience minsan kasi nado-double swipe yung (inaudible).
#7
“For me, uhm… we, Filipinos are hesitant to use
cashless cards since we all know that sometimes
we accidentally swipe twice.”
“I think our technology is not as advanced as
other countries. I think we should improve our
Respondent
technology first and improve the internet here in
#5
Low the Philippines because it’s hard to transact when
Infrastructure the internet is slow.”
“I think what hinders us is really the government.

Respondent
Uhm… it’s the way they think on how to open up
#6
a really techy, I mean technology, so yeah.”
“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 ng Pilipino ay nakapagtapos ng pag-
Respondent aaral.”
#9 “That’s it, the familiarity of people 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
Familiarity studies.”
“Uhm… siguro wala pa kasing sapat na

knowledge yung mga tao about dun sa cashless
transaction. At siyempre obviously hindi naman
Respondent lahat ng Pilipino mapera diba? Ano ilalagay ng
#10 iba sa card nila?”
“Uhm… I think the lack of knowledge among

people in cashless transaction. And obviously, not
all Filipinos are wealthy, right? How can those
people reload their cards?”
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Table 5: Themes Identified from the Actions of the Government in order to

encourage Filipinos to use Cashless Transaction
“Sa kanya lang mismo (government) yung

initiative na imandate, uh… imandate yung mga
banks, yung mga merchants na, uh… i-promote
Respondent yung produkto in cashless.”
#1
“The initiative should come from the government
to mandate, uh… to mandate the banks, the
merchants to promote their products in cashless.”
“Yung government siguro is pwedeng mag-initiate

na lahat ng payments with the government will
Respondent start with cashless transaction.”
#2 “The government should initiate that all
companies run by the government will start the
cashless paying method.”
“Yung government siguro dapat ipush nila like,

uh… i-enforce nila yung maliliit since na… mas
Initiate marami sa Pilipinas yung… mga… maliliit, yung
may maliliit na pondo lang pero gusto nilang mag-
Respondent transact ng mas mabilis…”
#4 “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 also wanted to
transact fast.”
“I think they know how to be open with all the

technology… that is being offered to us.”
Respondent
#6 “Because of the poverty as well, like some
couldn’t afford mobile phones… computers and
everything so I think, yeah we have to be more
open about it than just talking about it.”
“But maybe… gumawa nalang ng paraan yung

government para ma-encourage yung mga
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Filipino, like mga sale para ma-encourage yung

mga tao na mag-card or ano din para mapunta or
ma-credit dun sa cards yung mga discounts.”
Respondent
#7 But maybe… the government should initiate a way
to encourage Filipinos like implementing sales for
them to use cards and discounts also will credited
to those cards.”
“Siguro need nila gumawa ng program… which

is… ino-orient nila yung mga walang alam sa
ganitong Sistema. At bibigyan rin nila ng
karapatan ang mga mahihirap sa banking
Respondent systems kahit konti lang.”
#9
“They need to build a program… which involves
orienting people who have less knowledge about
the system. They also need to give rights to those
poor people in the banking systems.”
“Siguro gumawa sila ng programs or seminars

para magkaroon muna ng kaalaman yung mga
Respondent tao about cashless.”
#10 “They have to build a program or conduct
seminars to help people gain knowledge about
being cashless.”
“The government will focus dun sa security sa,

uhm… i-sesecure yung breaching tsaka yung,
uhm… parang… anong tawang dito… data
Respondent integrity.”
Security
#3
“The government should focus on the security.
They have to secure the breaching and… uhm…
what you call this… data integrity.”
Respondent “Second, siyempre yung pag-implement din ng

Implement mga pagtulong ng government sa mga merchants
#2
na to purchase sa mga kailangan nila, kung
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anong kailangan nila to perform cashless

transaction.”
“Second, the government should implement help

to the merchants to purchase what they need, on
what they need to perform cashless transaction.”
“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
Respondent because a lot of… Filipinos still doubt that
#5 cashless transaction is safe, that’s why they still
prefer to use physical cash.”
“Uhm… I think we should start implementing this

right away if they want us… to be a cashless
society…”
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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
ethical procedures and is more complicated that I thought.
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I have now experiences on both qualitative and quantitative researches and
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
by myself, especially a thesis and a dissertation.
Chelge Gyle A. Galo
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REFLEXIVE JOURNAL
In conducting our research, I got a lot of knowledge about cashless and to
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
and struggles but we do overcome it.
I learned that in conducting a research you must have at least have a
knowledge or background about your topic. This is my first time to do a qualitative
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
procedures to finish one chapter of your research. I also learned to be more
confident in interviewing a respondent. I would say that this research was so
amazing and taught me a lot of things.
Angela Mae C. Garcia
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REFLEXIVE JOURNAL
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,
disadvantages and challenges in this transaction.
In our research I learn many things, I learn how to do a qualitative research
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
interviewing some of our respondents to how interact in front of them.
Now, if we’re going to do again a research paper I want to learn more I want
to know how to make the quantitative research and a thesis paper.
Freidalyn P. Lababo
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REFLEXIVE JOURNAL
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
is ABM. So our topic needs to be related to business or accountancy. So we came
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.
Especially it is a qualitative research.
And I have no experience in research that's why. Cashless transaction is
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
in it. It just take some patience.
Marjorie G. Tanabe
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REFLEXIVE JOURNAL
Before we came up with our current research topic, we contemplated in a
long time to choose a perfect research study that is related to our track which is
ABM (Accountancy, Business and Management). We went from Feminism, Time
Management of Single Mothers, and etc. but we encounter a problem, in which we
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
Cashless: Why Cashless Transaction is not gaining traction in the Philippines?”
To be honest I don’t really have an experience in doing a research, it is
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
was really motivated in making our research paper. As we go on the process of
doing the chapters one by one, it was really fun and interesting, and of course, we
encounter some problems within my co – researcher due to lack of time and
management and procrastination. As now we finally have come to an end in this
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
credits to the writer of the article.
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I have now experience on what it’s like to do a qualitative research and I
look forward in making an experiencing in making quantitative research. And I want
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
make a research paper on my own and present it in a colloquium.
Katherine Louise G. Valiente
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REFERENCES
Tee, Hock Han and Hway – Boon Ong (2016). Cashless Payment and Economic
Growth Financial Innovation, Vol.2, No. 4, pp 1 – 9
Nair, Vandana Parkash (2016). Eschewing Cash: The Challenges of Cashless
Transactions in the Philippines. Retrieved from
https://www.questia.com/read/1G1-478141086/eschewing-cash-the-
challenges-of-cashless-transactions
Marc Adrian (2016) Is the Philippines Ready To Go Cashless? Retrieved from
https://www.imoney.ph/articles/cashless-payment-philippines/
Michael C. Keeley (1998) A Cashless Society? Retrieved from
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/
Bernstein, V. (2015). History of cashless payments. Retrieved from
http://www.vanillaplus.com/2015/08/07/10551-history-of-cashless-
payments/.
Mukherjee, A. (2017). From Charga Plates to Biometrics: The evolution of
cashless payments. Retrieved from http://geek.digit.in/2017/05/the-
evolution-history-of-cashless-and-digital-payments/
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David, R.J. (2015). 'Beep' card for convenience. Retrieved from
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/.
Anderseen, M. (2014). Why Bitcoin Matters. Retrieved from
https://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/.
Zavgorodny M. (2018). How Block chain is improving Financial Services.
Retrieved from https://www.itproportal.com/features/trends-in-digital-
banking-personal-finance/.
Riju Dave (2016). Here are the advantages of cashless payments and the pitfalls
you should beware of. Retrieved from
https://economictimes.indiatimes.com/wealth/spend/going-cashless-is-it-
good-for-you/articleshow/55908649.cms
Vinish Parikh (2017) Advantages and Disadvantages of Cashless Transaction.
Retrieved from http://www.letslearnfinance.com/advantages-
disadvantages-cashless-economy.html
Vijay Patwardhan (2016) Advantages of Cashless Transaction in India. Retrieved
from https://www.quora.com/profile/Vijay-Patwardhan
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Speedtest (2018) Speedtest Global Index. Retrieved from
http://www.speedtest.net/global-index#mobile
Zaldy D. Aguirre (2017) Going Cashless. Retrieved from
https://www.manilatimes.net/going-cashless/360413/
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CHELGE GYLE A. GALO

BLK. 68, LT. 112, SOUTHVILLE 1, NIUGAN, CABUYAO
CITY, LAGUNA
Chaffelix@gmail.com / 0975 – 909 – 3878
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
SECONDARY University of the East

2219 Recto Ave. Sampaloc, Manila
Grade 11 student at the present
Sindangan National High School

Dapaon, Sindangan, Zamboanga del
Norte
Batch 2017 – 2018
ELEMENTARY Sindangan Pilot Demonstration School

Poblacion, Sindangan, Zamboanga del
Norte
Batch 2013 - 2014
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ANGELA MAE C. GARCIA

#86 LIWAYWAY ST. BAYAN – BAYANAN, MALABON CITY
Darela142@gmail.com / 0928 – 895 – 0505
PERSONAL BACKGROUND
Date of Birth : January 20, 2002
Age : 16 yrs. old
Place of Birth : Malabon City
Gender : Female
Father’s Name : Amos M. Garcia
Mother’s Name : Princess Lyn C. Garcia
Languages Spoken : English and Tagalog
EDUCATION

Malabon National High School

M. Naval St. Hulong – Duhat, Malabon
City
Batch 2017 – 2018
ELEMENTARY Malabon Elementary School

M. Naval St. Hulong – Duhat, Malabon
City
Batch 2013 – 2014
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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
Father’s Name : Wilfredo R. Lababo
Mother’s Name : Rosalinda P. Lababo
EDUCATION

Ramon Magsaysay (Cubao) High

School
#731 Epifanio de los Santos Ave.,
Quezon City, Manila
Batch 2017 – 2018
ELEMENTARY Marcelo H. Del Pilar Elementary School

K – 3rd St. John Mayamot, City of
Antipolo, Rizal
Batch 2013 - 2014
86 | P a g e
ip
SENIOR HIGH SCHOOL
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
Father’s Name : Satoru Tanabe
Mother’s Name : Marisa G. Tanabe
EDUCATION

The Pleasant Mount School

#12 Pleasant St., Summerville Subd.,
Antipolo, Rizal
Batch 2017 – 2018
ELEMENTARY Pasig Central Elementary School

#4 St. John Mayamot, City of Antipolo,
Rizal
Batch 2013 - 2014
87 | P a g e
ip
SENIOR HIGH SCHOOL
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
Father’s Name : Virgilio S. Valiente
Mother’s Name : Lalaine G. Valiente
EDUCATION

Niño Jesus House of Studies Inc.

#1433 Mercedes Ave. San Miguel,
Pasig City
Batch 2017 – 2018
ELEMENTARY Pasig Central Elementary School

#1600 Caruncho Ave., San Nicolas
Pasig City
Batch 2013 - 2014
88 | P a g e

Journey Towards Cashless

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Journey Towards Cashless

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UNIVERSITY OF THE EAST – MANILA

“JOURNEY TOWARDS CASHLESS: WHY CASHLESS TRANSACTION IS

In Partial Fulfillment of the Requirements

Galo, Chelge Gyle A.

OCTOBER 22, 2018

This is to certify that this research study entitled “Journey Towards

Cashless: Why Cashless Transaction is not gaining traction in the

Philippines?” presented orally and submitted by Chelge Gyle A. Galo, Angela

Mae C. Garcia, Freidalyn P. Lababo, Marjorie G. Tanabe and Katherine Louise

G. Valiente has been approved and accepted as partial requirements for

Qualitative Research with a grade of PASSED on October 22, 2018.

Ms. Arleth T. Follero

Qualitative Research Adviser

(Name of Panel Member 1)

(Name of Panel Member 2)

Galo, Chelge Gyle A. Garcia, Angela Mae C.

Lababo, Freidalyn P. Tanabe, Marjorie G.

Valiente, Katherine Louise G.

Ms. Arleth T. Follero

October 22, 2018

working on our study even on difficult times.

as possible. We were so grateful to have such a teacher with passion, sincerity

and dynamism in her profession.

concernment on us students who wanted to gain knowledge about research.

As researchers of this study, we wholeheartedly dedicate this to be our

a tribute for all their sacrifices they’ve exerted for us.

which this study would not be published without him.

CHAPTER I: The Problem and Its Background

CHAPTER II: Review of Related Literatures and Studies

CHAPTER III: Research Methodology

CHAPTER IV: Presentation, Interpretation and Analysis of Data

CHAPTER V: Summary of Findings, Conclusion and Recommendations

LIST OF APPENDICES .............................................................................. 8

CURRICULUM VITAE ................................................................................. 84

Table 1. Opinions about Cashless Transaction ........................................... 36

Figure 1. Simulacrum ................................................................................... 35

Appendix A. Informed Consent ..................................................................... 58

traction in the Philippines. Cashless Transaction is a financial scheme where

sampling method which the researchers conducted a semi - structured interview

to 10 cashless - users respondents - 5 commoners and 5 professionals.

Information were voice - recorded to ensure data accuracy and it is transcribed

go cashless. These findings were related to the previous studies conducted by

KEYWORDS: Cashless Transaction, Cashless, Traction, Legal Tender,

The Problem and Its Background

BACKGROUND OF THE STUDY

permeating entities, namely Technology and Money, came together to blend

seamlessly with our lives.

Cashless Transaction are way of making payments without the use of

physical cash, a gateway to technological advancement in the field of world

economy. A cashless payment is a behavioral change in the people where people

eliminate usage of money as a medium of exchange for goods and services by

allowing electronic transfer payments or non – electronic payment via cheques

predominant in many countries, with examples including intermediaries such as:

Paypal, Digital Wallet System operated by companies like Apple, contactless

payment by electronic card or smartphone, electronic bill and banking in

society is well within our reach.

The Philippines has been an upward surge in Cashless Transaction in the

Cashless according to the “Visa’s Consumer Payment Attitudes Survey” in 2016.

position to leverage on the country’s strong electronic payment opportunities

(Adrian, 2018). Though, a lot of Filipinos are interested in having a Cashless

STATEMENT OF THE PROBLEM

gaining traction in the Philippines?” The variables that might be introduce to

expand the question include: