✓ EWC661 Proposal Ewallet ( Group 6) PDF

Preview

Summary

BACHELOR OF INFORMATION SCIENCE (HONS) INFORMATION SYSTEMSMANAGEMENT(IM245)ENGLISH FOR REPORT WRITING(EWC661)SESSION 1 2020/PROPOSALFACTORS INFLUENCING THE USE OF E-WALLET AS A PAYMENT METHODAMONG STUDENTS IN THE FACULTY OF INFORMATION MANAGEMENT, UITMPUNCAK PERDANAGROUP MEMBERNOR FATIHA BINTI MOHD ...

Description

BACHELOR OF INFORMATION SCIENCE (HONS) INFORMATION SYSTEMS MANAGEMENT (IM245) ENGLISH FOR REPORT WRITING (EWC661) SESSION 1 2020/2021 PROPOSAL FACTORS INFLUENCING THE USE OF E-WALLET AS A PAYMENT METHOD AMONG STUDENTS IN THE FACULTY OF INFORMATION MANAGEMENT, UITM PUNCAK PERDANA GROUP MEMBER NOR FATIHA BINTI MOHD HUYUB (2018460862) SITI NOOR SYAKILLA BINTI HALDON (2018840606) NURUL MASTURA BINTI MD YATIM (2018809274) NOR FADZLINDA BT ZAINUDDIN (2016805638) GROUP NIMBSF5A PREPARED FOR MDM. FAUZIAH SAADAH BINTI HAJI ABDUL HALIM SUBMISSION DATE 7 DECEMBER 2020

TABLE OF CONTENTS 1.0.

INTRODUCTION / BACKGROUND OF STUDY……………………………….

2.0.

PROBLEM STATEMENT…………………………………………………………

3.0.

OBJECTIVES OF THE STUDY………………………………………………….

4.0.

SIGNIFICANCE OF STUDY……………………………………………………..

5.0.

LIMITATIONS OF STUDY……………………………………………………….

6.0.

PREVIOUS STUDIES……………………………………………………………

7.0.

METHODOLOGY………………………………………………………………...

8.0.

REFERENCES…………………………………………………………………...

Page | 2

1.0.

INTRODUCTION / BACKGROUND OF STUDY In today's world, the internet has made things easier for people. Payments are

made using mobile devices. One of the greatest innovations of the 21st century is mobile wallets, an important part of the electronic payment system. The term “e-wallet” is a type of digital wallet that allows individuals to link their debit or credit cards to digital wallets in order to make any payments. E-wallets have sprouted quickly these days in Malaysia over the last several years, and with over 40 e-wallet licenses granted by Bank Negara Malaysia. As e-Wallets become more commonly accepted in retail stores, F&B stores, groceries and even small retailers across the country, it seems that these digital payments will become a core part of the nation's payment landscape. Through the use of an e-wallet, it has become extremely convenient for a person to make fewer physical money transactions. We may conclude that it is a technological advancement, but it also gives business a boost through the development of digital commerce and banking. Cashless payments are now becoming a common trend in almost every industry. If it's e-commerce websites or DTH recharges. Cash less platforms are proving to be the future of transaction services, with limited or no use of cash transactions. It is also considered an alternative to plastic currency. There are two types of e-wallet which are network-based and card-based. Network-based e-wallet stores digital money on the cloud while card-based e-wallet it rides on an existing card network like Visa, Mastercard, China UnionPay. The example of network-based e-wallet is WeChat Pay, Grab Pay, Boost, Touch 'n Go e-wallet while the example of card-based e-wallet is BigPay, MPay WALLET, AEON Wallet, Merchantrade Money e-wallet. Both types of e-wallets issue e-money and can be openloop (possible to pay other merchants). Even though many countries all around the world use e-wallet, there is still a lack of understanding among people in Malaysia about the concept and its usability. This paper outlines the factors that influence the use of e-wallet as a payment method among students in the Faculty of Information Management, UiTM Puncak Perdana.

Page | 3

2.0.

PROBLEM STATEMENT At the 2020 stage people are now beginning to step on to digital and computer

technology. A lot of things have changed in our lives, and one of them is the e-wallet. A consumer survey conducted by PwC Malaysia found that just 22 percent of respondents had used an e-wallet previously, according to PricewaterhouseCoopers (2018). To claim that in their everyday lives, Malaysians are still ignorant and refuse to use e-wallets. There are a number of e-wallet applications currently available, such as Boost, Touch N Go, GrabPay, and others. But according to Touch N Go eWallet Malaysia Fintech Report 2019, the most e-wallet apps being used. In our current situation of the Covid19 outbreak is MAE e-wallet. Additionally, during the coronavirus outbreak and motion control order in Malaysia, the use of contactless payments and the adoption of e-wallets are on the rise. Furthermore, with the existent of e-wallet it gives a lot of benefits to its user e-wallet can be used for retail, food and beverage, e-commerce, fund transfer, transportation, prepaid top-up, and bill payment. Based on PricewaterhouseCoopers (2018) e-wallet mostly being us on food and beverage, retail, and e-Commerce. Factors influencing the use of e-wallet as a payment method among students in the Faculty of Information Management, UiTM Puncak Perdana is the main topic of this research. Based on the previous case study according to a report by Vodus (2019) people between 18 up to 30 years old have the highest percentage for often usage of e-wallet.

This also have been highlighted by The Star Online (2020), shop and stall accept payments through Touch 'n Go eWallet and most of their customers are students. Our research we focusing on students in the Faculty of Information Management, UiTM Puncak Perdana which age between 20 up to 40 years old. Hence the study is significant to give information number of students who are using e-wallet with regards to their gender and identify the most popular e-wallet used among of their gender. On top that, the research also want to identify the Information Management students level of awareness, knowledge and attitudes towards e-wallet.

Page | 4

3.0.

OBJECTIVES OF THE STUDY It’s fascinating to figure out who is using an e-wallet compared to using cash in

hand or cash in banks and to identify the level of awareness and knowledge towards ewallet. Thus, we decided to conduct an e-wallet based research mainly from students in Faculty of Information Management at UiTM Puncak Perdana. The objectives of study:

1. To identify the number of students who are using e-wallet with regards to their gender. 2. To identify the Information Management students level of awareness, knowledge and attitudes towards the use of e-wallet. 3. To identify the most popular e-wallet application that are used among students Information Management.

Page | 5

4.0.

SIGNIFICANCE OF STUDY The findings of the study will identify the Information Management student’s level

of awareness, knowledge and attitudes towards e-wallet. Nowadays, e-wallet not only to pay for goods and services but it have expanded into bringing easier access to user’s life lifestyle. However, the usage of e-wallets has been in question. Moreover, this study will be helpful to the banking industry in the area to attract more youngsters to carry out such transactions through e-wallet. Furthermore, banking industry players regard Malaysia as a prime market given its favorable demographics and potential to drive e-wallet adoption. In conclusion, this research will educate students in deciding on whether e-wallet are beneficial to them or not by chose the best e-wallet app that are able to provide the cashbacks and discounts by retailers to enjoy usage of ewallet.

Page | 6

5.0.

LIMITATIONS OF STUDY There are few potential limitations towards this study. The outcome from the

questionnaire that has been given to the Information Management student in the platform of ‘Google Form’ regarding the factors influencing the use of the e-wallet as a payment method among students in the Faculty of Information Management, UiTM Puncak Perdana might be different since each of students were from different residential area. The student that comes from urban and suburban area might have the highest chance to use the e-wallet as their payment method because they have multiple choices of merchandise that was growing up among them and it is convenience for them to pay for those merchandise via e-wallet platform. While, the student that comes from rural area might have the least chance towards e-wallet transaction due least choice of merchandise that can offer payment method via e-wallet app. Other than that, our target while they were answering the questionnaire, will also influence the exposure to identify the Information Management students level of awareness, knowledge and attitudes towards the e-wallet as it is possible for them to ignore the questionnaire that have been give out to them through Google Form platform. Hence, if there are several students that take the questionnaire with a flippant reply and did not take seriously on what the purpose of this research we decide to follow up until they finish and send the Google Form back to us. In order to guarantee for every student to answer all questionnaire with honest and well, we will give them a souvenir like key chain as symbol for thanks giving to them. Lastly, the target size is limited because we only focus on Information Management students only, and thus the results cannot be generalized to all UiTM students.

Page | 7

6.0.

PREVIOUS STUDIES

This study provides the reader with useful and informative information related to e-wallet. Iman and Karnouskos (2018) define the e-wallet shall be known as a prepaid cash account that can be used to make potential purchases. E-wallet helps users to store online cash, store coupons or promotional deals, make deposits, withdraw cash and pass money. E-wallet can also be used in online and offline shopping. Du and Li (2019) Furthermore, e-wallets are designed to replace the present physical wallet with notes, coins, images, credit cards, loyalty cards, etc. (Bhatt & Bhatt, 2018) the gender of the user introduces significant differences in the proposed relationships between ease of use and usefulness of the e-wallet, between usefulness, attitude and intention to use, as well as between users' trust and a favorable attitude towards its use. The conclusions and implications for management provide alternatives and segmentation strategies to consolidate this new business opportunity. According to Marimuthu and Roseline (2020) the e-wallet has gain its popularity due to have effortless transactions. Lack of knowledge and awareness among people and fear to make transaction due to security issues are the major factors that should thought. The most technological change has been witnessed and globalization has brought them different perceptions and attitudes compared to previous generations (Cobanogluet al., 2018) Markus Jakobsson (2010) states that the proposed e-cash system is a prepaid solution based on hardware technology protected by interference, it is a multimedia wireless cash payment system, operational, domestic and international. This device can be used for low and high value transfer without depending on the communication environment.

Page | 8

7.0.

METHODOLOGY 7.1 Respondents of the Study There are 50 respondents, both males, and females. The respondents are students from the Faculty of Information Management, UITM Puncak Perdana. They age ranged between 21 to 40 years old. 7.2 Instruments of the Study A questionnaire is a choice to be the research instrument for collecting the information from the respondents. This method is more effective rather than interviewing them face-to-face. This questionnaire will be given to each of the respondents. The questionnaire was adapted from a research project in 2018 by Chern Yong Xian, Kong Sing Yien, Lee Von Ai, Lim Sin Yi, and Ong Chun Ping.

The questionnaire divided into three (3) parts. The first part was asking related to student background. The second part, the questions consist of open-ended questions and closed-ended questions. While the third part questions in the form of scales. 7.3 Data Collection Procedure

The questionnaires will distribute to the respondents through online by using Google Form. The questionnaires will be given to all students of the Faculty of Information Management, UITM Puncak Perdana to ensure that the data collected could be used in completing this research. The questionnaire will be distribute in the Facebook page and WhatsApp group. This study will be conduct in December 2020.

Page | 9

8.0.

REFERENCES

N. Syifa and V. Tohang. (2020). "The Use Of E-Wallet System". International Conference on Information Management and Technology (ICIMTech), Bandung, Indonesia, pp. 342-347, doi: 10.1109/ICIMTech50083.2020.9211213. E. Sakalauskas, J. Muleravicius and I. Timofejeva. (2017). "Computational resources for mobile E-wallet system with observers". (2017). Electronics, Palanga, pp. 1-5, doi: 10.1109/ELECTRONICS.2017.7995226. M. Olsen, J. Hedman and R. Vatrapu. (2011). "e-Wallet Properties". 10th International Conference on Mobile Business, Como, pp. 158-165, doi: 10.1109/ICMB.2011.48. H. Kreft and W. Adi. (2008). "Wallet Based E-Cash System for Secured Multi-hop Cash Exchange", 3rd International Conference on Information and Communication Technologies:

From Theory to

Applications, Damascus, pp. 1-5, doi:

10.1109/ICTTA.2008.4529987.

Milo, E.. (2019). “All You Need To Know About E-Wallet In Malaysia (Infographic)”. [online]. Ecinsider.my. Available at: https://www.ecinsider.my/2019/05/ewalletmalaysia-infographic.html

Chern Yong Xian, Kong Sing Yien, Lee Von Ai, Lim Sin Yi and Ong Chun Ping. (2018, August). “Moving Into Cashless Society: Factors Affecting Adoption Of E-wallet”. Universiti Tunku Abdul Rahman, Faculty of Business and Finance Department of Finance.

Page | 10...