Sample Research Ch. 1-3

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Assessment of Cashless Transaction Using QR Scan on Food Stalls along the

University Belt
A Thesis
Presented to the Faculty of the
College of Business Administration
Adamson University
Manila
In Partial Fulfillment
Of the Requirements for the Degree
BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION
MAJOR IN FINANCIAL MANAGEMENT
Presented by:
John A.
Marie P.
James G.
Abdellah
Alonzo T.
May 2023
COLLEGE OF BUSINESS ADMINISTRATION

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ACKNOWLEDGEMENT
We would like to express our gratitude and acknowledgment to the following
people who have helped, guided and inspired us in making this research possible.
To our teacher and adviser, Prof. Annedrei Maurizze Barcarse, MBA . , who
assisted and guided us from start to finish, taught us the step-by-step procedure to
make this research possible.
We are also grateful to our panelists Dr. Emily Baluyot, Dr. Jose Mari Lee,
and Prof. Paul Belleza, MBA for sharing their knowledge by checking our works,
marking our errors, giving more suggestions that help improve our study and setting
everything right for our work to be acceptable.
We would also like to acknowledge our families for their untiring support,
most especially financially, for being our inspiration, and for their unwavering
encouragement and guidance throughout the study.
Lastly, to our Almighty Father in Heaven who is the source of all wisdom,
strength, patience, and understanding, and for the guidance throughout the study for
it would not be possible without him.

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DEDICATION
The success of this study is dedicated to the following people who helped us and
made it all possible to complete this study:
First of all, our Almighty God in Heaven who became the source of all the
knowledge and wisdom and the endless guide physically and spiritually to finish this study.
To our beloved parents who have always been there for us from the start. They have
given us their trust and determination to finish this study. Without their support, financially
and emotionally, this project would not have been made possible.
And to ourselves, for the patience and trust that we show to ourselves that we can
finish this study. All the sleepless nights we have gone through, all the money we spent
and the efforts we put in the process of this study. Finally, we are one step closer to PICC

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Table of Contents
TITLE PAGE i
APPROVAL SHEET ii
ACKNOWLEDGEMENT iii
DEDICATION iv
ABSTRACT v
TABLE OF CONTENTS iv
LIST OF TABLES vii
LIST OF FIGURES viii
LIST OF APPENDICES ix
CHAPTER PAGE
1. INTRODUCTION 1
1.1 Background of Study 1
1.2 Statement of the Problem 6
1.3 Hypothesis 7
1.4 Scopes and Limitations 7
1.5 Significance of Study 8
1.6 Review of Related Literature 9
1.7 Definition of Terms 24
1.8 Theoretical Framework 26
1.9 Conceptual Framework 28
CHAPTER
2. METHODOLOGY 29
2.1 Research Design 29
2.2 Data Management 30
2.2.1 Data According to Source 30

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2.2.2 Data According to Methods 31
2.3 Sampling Design 32
2.3.1 Sample Population 32
2.3.2 Respondents 32
2.3.3 Research Instrument 32
2.3.4 Control Procedure 32
2.4 Statistical Treatment 33
2.5 Decision Criteria 33
2.6 Ethical Consideration 34
2.6.1 Conflict of Interest 35
2.6.2 Privacy and Confidentiality 35
2.6.3 Informed Consent Process 35
2.6.4 Vulnerability 36
2.6.5 Recruitment 36
2.6.6 Assent 36
2.6.7 Risks 36
2.6.8 Benefits 36
2.6.9 Incentives or Compensation 37
2.6.10 Community Consideration 37
2.6.11 Collaborative Study of Reference 37
CHAPTER
3. RESULTS AND DISCUSSION 38
3.1 Presentation, Analysis, and Interpretation of Data 39
3.2 Summary of Findings 53
3.3 Conclusions 56
3.4 Recommendations 58
REFERENCES 60

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LIST OF TABLES
Table 1.0 Frequency and Percentage Distribution of the 39
Respondents in terms of Age
Respondents in terms of Sex
Respondents in terms of Occupation
Respondents in terms of Educational Background
Table 2.0 Weighted Mean: Perception of the respondents 41
towards the affect of capability for a food stall to run a full
transactions in terms of Performance Expectancy
Table 2.1Weighted Mean: Perception of the respondents 42
towards the effect of capability for a food stall to run a full
transactions in terms of Effort Expectancy
transactions in terms of Social Influence
transactions in terms of Risk
transactions in terms of Trust
Table 3.0 One- Way ANOVA: Difference between the 46

Evaluation of the Respondents on the Effect of
capability for A Food stall to run a full cashless
transaction and Age
Table 3.1 One- Sample T-Test: Difference between the 48
transaction and Educational Background
Table 3.2 One- Sample T-Test: Difference between the 50
transaction and Gender

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Table 3.3 One- Way ANOVA: Difference between the 51

transaction and Educational Background

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LIST OF FIGURES
Figure 1 Unified Theory of Acceptance and Use of 26
Technology
Figure 2 Conceptual Framework 27
LIST OF APPENDICES
Appendix A 65
Research Instrument 65
Questionnaires 66
Appendix B 70
Validation Letter 71
Appendix C 72
Informed Consent Form 72
Curriculum Vitae 77
Reliability Test 87
Statistician 89
Certification 90

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INTRODUCTION
Background of the Study
The QR codes were invented in Japan, they are expected to be more popular in Asia
than in the rest of the world. East Asia had the highest QR code usage (15%) in 2019,
according to the previously mentioned global QR code usage statistics. China is widely
considered to have the highest rate of QR code adoption.
They have used a QR code payment method in everything from renting portable
chargers to paying for groceries since they developed it in 2011. The total payment
transactions made using QR codes in 2017 were also recorded at $550 billion. This
increased 15 times in three years, reaching $1.5 trillion in the fourth quarter of 2019. While
the Japanese were already in the process of updating. Since 2002, they have been using QR
codes in their coupons by scanning them with their phones and incorporating QR code
scanners into their smartphone cameras. Additionally, these QR codes are popular in other
Asian countries. QR codes are used by 40% of Indians, 27% of Vietnamese, and 23% of
Thai consumers. (Qr Tiger, 2022)
In recent years, we have witnessed a growing trend in cashless transactions as well
as products and services sold exclusively in this way. According to Fabris (2019) Cashless
societies and technological innovation have become increasingly popular around the world.
Having a cashless transaction in an economy does not necessarily mean shortage of cash,
rather it indicates a culture of people settling transactions digitally. In a modern economy,
money moves electronically, hence, the spread of digital payment culture along with the

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expansion of infrastructure facilities is needed to achieve the goal of business. (Ramya,
Sivasakthi, & Nandhini, 2017)
In the year 2021 starts the adoption of cashless society, according to Lucas (2021),
Filipinos are increasingly using the so called QR or “Quick reaction” code when paying
for purchases and transferring money from one person to another and also Governor
Benjamin Diokno of the Bangko Sentral ng Pilipinas cited that in February 2021 the QR
Ph person to person payments increased by 22 percent and 26 percent respectively.
According to Megan (2021), that in Uptown Bonifacio it introduced a new way of dining,
Scan to Dine, which is a QR-based, centralized menu that can be accessed with a single tap
on the diner's smartphone. Customers simply need to use their phone's camera to scan the
QR code located on the top of the dining tables located on The Deck (4th level) of Uptown
Mall.
The increase of quick responses of QR code mobile payment users heralds the
coming of a Cashless Society to the point that the people are forced to adopt the QR code
mobile payment which many stores nowadays have like Sari-sari store, fish ball stand,
etc… (Tu et al, 2021) Consumers in the Philippines are changing cash to E-money in
order to avoid physical touch due to concerns about getting coronavirus. Based on the
article by Endo (2020) that the use of QR Code applications are less risky than cash
handling, because it is more efficient than physical payments, and is also very transparent.
Pebbles Sy, also stated that In a world where digital is the new normal, financial technology
should be considered the bedrock of digital service.

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As the pandemic happened, the cashless transactions became a trend in the
Philippines, therefore the researcher decided to conduct this study in view of the fact that
there are not enough resources or study for cashless transactions in the Philippines.
According to Tu et al (2022), the result shows that from 248 respondents revealed the
perceived severity and social influence positively affected the perception of utilitarian and
health benefits of respondents, which in turn influenced the behavioral intention on the use
of QR code mobile payment.
The possibility of making and receiving payment is the key factor for prioritizing
the Digital payment or in other words using QR Code “Scan to pay”. The next advantage
is the security, the QR scan is made secure with varying levels of encryption and data
authentication. Some modes of payments for E-wallet enable the two-factor authentication
(TFA) to add a restriction layer for security and advantage of cashless transactions for food
stalls is that it is convenient for the consumer. There are many benefits of cashless payment
systems like QR codes for the customer for business owners, one of which is customer
satisfaction as the main goal. As business owners who want to expand their business, the
company needs to adjust to the cashless transaction but is not totally fully cashless, but it
can also be included in their mode of payment. According to the study conducted by
Chaveesuk and Piyawat (2021) the study conducted a survey that the majority of
respondents were retail business owners who have been in business for 1 - 5 years and have
a monthly income of less than 20,000 baht.

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The majority of the entrepreneurs do not have employees and only accept cash
payments. Initial findings show that entrepreneurs in Thailand's eastern region with various
types of businesses have different intentions of using QR Code technology. The number of
times payments are received is smaller than in other firms. It is often used for receiving
cash payments, processing checks, and Accepting bank transfers as payment. Because the
majority of product entrepreneurs are family-owned firms, they are more accustomed to
accepting cash payments than any other way.
The adoption of cashless transactions using QR code scan on food stalls along the
University belt started during the COVID-19 pandemic. The Researchers want to assess
the adaptability of food stalls that use QR code scan to pay. Despite the growing popularity
of cashless transactions and the increasing adoption of QR scan technology in various
industries, there is a lack of comprehensive research focusing specifically on the
assessment of cashless transactions using QR scan on food stalls along the University Belt.
While studies have explored the implementation of cashless payment systems in different
contexts, there is a paucity of research that specifically investigates the demographic profile
of individuals who frequently patronize food stalls within the University Belt area and their
perception of the capability of food stalls to run full cashless transactions.
This study highlights the need to delve into the demographic characteristics of the
target population, including age, gender, occupation, and educational background, to better
understand their preferences, behaviors, and readiness to embrace cashless payment
systems. Additionally, there is a lack of research that systematically examines the
perceptions of these respondents regarding the effect of the capability of food stalls to
conduct full cashless transactions.

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Factors such as performance expectancy, effort expectancy, social influence, risk,
and trust are crucial in understanding the potential barriers or facilitators that may influence
individuals' willingness to embrace and utilize cashless payment options in the context of
food stalls within the University Belt. The study aims to contribute to the existing literature
on cashless transactions and QR scan technology by providing valuable insights into the
specific demographic profile of staff and business owner of food stall along the University
Belt.
Furthermore, it seeks to explore the perceptions of these individuals regarding the
capability of food stalls to run full cashless transactions, shedding light on factors that may
affect the successful implementation and acceptance of cashless payment systems in this
particular setting.

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Statement of the Problem
The study aims to answer the following questions in order using QR scan and its effects
on the food stall owners along the university belt.
1. What is the demographic profile of the respondent to be described in terms of:
1.1 Age
1.2 Gender
1.3 Occupation
1.4 Educational Background
2. What is the Perception of the Respondents Towards the Effect of Capability for a
Food Stall to Run a full cashless transaction?
2.1 Performance Expectancy
2.2 Effort Expectancy
2.3 Social Influence
2.4 Risk
2.5 Trust
3. Is there a significant difference between the respondent's demographic profile
and the variable mentioned in SOP 2?

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Hypothesis
The hypothesis is based on the assessment of the researchers.
Hypothesis have been formulated:
H01: There were no significant differences between the evaluation of the respondents on
the effect of capability of a food stall to run a full cashless transaction when grouped
according to the demographic profile of the respondents.
Scope and Limitations
This study will be conducted in order to determine the different aspects of the
cashless transaction using QR Scan on food stalls along University Belt. The researchers
presumed the effects based on their experience in using cashless transactions, such as
Accessibility, Security, Lack of data, and Ethernet, and not being literate to generate scans
in different Cashless applications. The method to use for the source of data would be a
survey form.
The researchers limit the study to staff and owners of food stalls around Intramuros,
Recto U-BELT, Particularly those who are still using the traditional payment method and
not familiar with using QR code. The sample size in the study is limited to 125
Respondents. In each food stall along the University belt will be the respondents to answer
the survey questions.

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Significance of Study
The results of this study will benefit the society as a whole. Keeping in mind the major role
that cashless transactions and the use of e-wallets play in our current economy. Since most
establishments are using cashless transactions when it comes to buying things in their
everyday life transactions, the use of e-wallets became popular because it is convenient.
● Students - Students who are using cashless payments are able to keep their money
secure because of having their money converted into online payments. With having
physical money on hand, there are risks of their money being stolen from them. It
also gives off increased efficiency because e-payments in transactions can be done
quickly through online or through applications. It also saves time from both parties.
A study related to QR codes can benefit students by providing them with an
understanding of the use of QR codes in various fields.
Students can learn about the different types of QR codes, their applications, and
how to create and scan QR codes. This knowledge can be useful in various fields,
such as marketing, advertising, and retail. It can also help students in their research
projects and assignments.
● Small Businesses - Also with the students, it saves time from the process of
traditional payments. It can lessen errors such as miscalculations that can lead to
loss to the stall or vice versa. It can increase the security of the business because
there can be no physical money stolen from them. Cashless payments can also offer
great flexibility for the business and also the customers, with the thought of having
to worry about how much money they need to have and count. Small businesses

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can benefit from a study related to QR codes by gaining knowledge about the use
of QR codes in marketing and advertising. QR codes can be used to provide
customers with additional information about products, services, and promotions.
Small businesses can also use QR codes to collect customer data and feedback. By
understanding how to create and use QR codes effectively, small businesses can
enhance their marketing efforts and customer engagement.
● Future researchers- This study will benefit future researchers for future reference
to their study. Also, they can use this as a basis to rely on information that was
previously gathered from this research and can be used to assess and pinpoint
shortcomings. Because of this, this research works that look into these identified
gaps frequently have their roots in future research studies. A study related to QR
codes can benefit future researchers by providing them with insights into the use of
QR codes in different fields. Researchers can use this information to further explore
the effectiveness of QR codes in marketing, advertising, retail, and other areas. This
can lead to the development of new theories and models related to the use of QR
codes. Future researchers can also use the findings of the study as a basis for further
research on the topic.
Review of Related Literature
The Unified Theory of Acceptance and Use of Technology (UTAUT) is based on
studies of eight research models in information systems adoption study. Venkatesh (2003)
produced a model that consists of Five Variables, Performance expectancy, Effort
Expectancy, Social Influence, Risk, and trust. (Rosli et al., 2020)

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Education is critical for improving the quality of human capital. Education can lead
to increased economic growth and higher living standards. (Weisbrod, 1964 as cited
Sukanti, 2022) According to certain research, education has a favorable influence on
income. Education is a critical contributor to income. (Mincer, 1974 as cited Sukanti,
2022) The primary components of human capital are knowledge and skills acquired via
schooling. (Schultz, 1961 as cited in Sukanti, 2022) Finding a suitable career without a
formal education is extremely difficult. A surge in education has resulted in a situation of
overeducated workers, with people with a higher academic background working in lower-
skilled positions. This is in contrast to undereducated employees, who have employment
that need more skills and knowledge than their school background provides. Given these
circumstances, the purpose of this research is to determine the impact of the mismatch
between workers' educational backgrounds and occupations on the Indonesian labor
market. (Sukanti, 2022) The number of overeducated workers with the mean approach is
more significant than that of unskilled workers and cleaning staff (26.73
percent). Similarly to overeducated workers, the proportion of undereducated workers is
larger in unskilled workers and cleaning staff (12.99 percent). The biggest mismatch
between educational background and occupation is the same for overeducated and
undereducated employees, which is an intriguing event. This is because the vast
majority These forms of the job require more strength/physical endurance in December
2022 and do not require any specific talents or expertise. This form of labor necessitates
basic skills learned in the first stage of basic education, such as reading, writing, and
mathematics, although these are not essential. As a result, it is possible to explain that this
work can be completed by anyone with any degree of education. (Sukanti, 2022)

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The integration of QR code technology has influenced numerous aspects of our
lives, including the way occupations and industries handle transactions. Occupations across
different sectors have embraced QR transactions as a means to streamline payment
processes, enhance customer experiences, and improve overall efficiency.
Based on a study (CHAVEESUK, S. ; PIYAWAT, N. 2021), The results indicated that the
respondents with different business operation duration, monthly business income, and the
amount of capital investment had the indifferent intention of using QR code technology
with a statistical significance level of 0.05.
Performance Expectancy
Quick Response (QR) has become well known for its functionality such as it can
be used for information retrieval, connecting to other phones, and most importantly the use
of Scan to pay Qr code.
Performance expectancy was found to be a critical factor in the use of mobile
payment tools, QR codes are provided in the majority of cashier desks. In China, it can be
used easily regardless of the size and the location of these stores as stated in the research
by Chang et al. (2021). Paying using a QR code is one of the mobile banking applications
that eliminates dangers associated with card purchases while also offering greater
convenience than using cash, especially during the Covid-19 pandemic (Ngo and Nguyen,
2020).
A survey was conducted in 2021 on the usage of QR codes scan to pay, 31 percent
of the respondents in the Philippines indicated that they used QR code to make payments

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in 2021. The 2020 use of QR scan to pay in the Philippines is 26% while in 2021 the result
is 31% when using QR scan to pay (Statista Research Department, 2022).
In an article written by Aineena Hani (2021), the QR program accelerated to
increase digital payments in the Philippines because it recognized the Quick Response
(QR) codes and a broad variety of possible applications. Additionally, QR PH interoperable
said that “They see a lot of potential for these QR payments. We have boarded a lot of
merchants and definitely, coupled with the QR PH interoperable QR PH QR codes, we see
more digital payments”.
QR Ph transactions grow as more banks, businesses adopt standard
(BusinessWorld, 2022), also Bangko Sentral ng Pilipinas (BSP) Deputy Governor
Mamerto E.angko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto E. Tangonan
Stated that“ The use of QR Ph payments has been gaining translation as an
alternative to traditional debit and credit card payments given the ease, convenience, and
security of merely scanning the QR code compared to having to bring a card.” “This trend
is expected to continue given that the merchant payments comprise over 70% of the total
monthly retail payments in the country, of which only 23% is digital. Thus, digitalizing
merchant payments is one of our top priorities in order to maximize its huge potential to
further advance digital payments' adoption in the country,” Mr Tangonan added in his
statement. Businesses need to adopt new norms in which money can be the second option
while prioritizing QR code scan to pay in their business.

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Effort Expectancy
An indicator of how simple a system is to use is called effort expectancy (Ee). User
experience is crucial for providing a gauge of a person's comfort and ease when utilizing
technology. New technological innovations ought to be more user-friendly and beneficial.
However, some technology is challenging to adopt because it is challenging to learn,
unintuitive, overly complex, and constrained. Users and organizations will be at risk of not
utilizing new technology to its full potential in this case.
A model was empirically tested with a sample of 215 consumers of QR code mobile
payment services in China, claims study (Guo, Gao, Yang, & Jing, 2018). The results
suggested that five of seven research hypotheses were significantly supported. The findings
show that consumers' intentions to continue using QR code mobile payment services were
significantly positively directly impacted by performance expectancy, effort expectancy,
and social influence. Perceived danger did not, however, have a detrimental impact on
customers' propensity to utilize QR code mobile payment services on a regular basis. This
article adds to the body of knowledge about ongoing use of mobile payment systems.
Effort expectancy is defined as the degree of ease related to the use of specific
technology. In the context of mobile payment, this factor explains where individuals are
free from effort and easy to understand the use of certain types of mobile payment (Imani,
Anggono, 2020)
Effort expectancy is one of the determinants that influences the intention and usage
of a technology. As defined by the theorists, the degree of ease associated with the usage
of a system determines its utilization. Majority (27%) of the non-users find the process of

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scanning QR codes difficult. This inhibits them from using the QR code technology. (Nath,
Dr. M, 2020)
Effort expectancy has also been shown to positively influence behavioral intention in the
context of mobile payment in Malaysia (Teo et al., 2015; Ramayah et al., 2017).
Social Influence
Social influence (SI) is the degree to which an individual perceives that important
others believe he or she should use the new system (Le et al., 2020)
The influence of family members, friends, peers or any person important to an
individual cannot be ignored in shaping the individual’s action or belief, and this is also
applicable in the context of technology adoption. This is especially true when the
technology is still in the infancy or introductory stage, in which there are only a few
adopters (Mun et al., 2017).
The COVID-19 pandemic has catalyzed a shift in awareness. It provided the
necessary push for more consumers, individuals, businesses, and the government to use
digital payments when the country implemented health and social-distancing protocols
(Estioko, Mesina, & Masangkay, 2021). In addition, as economic concerns and restrictions
continue to affect consumers worldwide, new buying and consumption patterns and
behaviors have emerged (Nielsen, 2020); as a result, customers shifted to cashless
transactions.
Martins et al. (2014). Found that social influence had an impact on the intention of
online users to adopt Internet services, while Chaouali et al. (2015). Reported that social

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influence affected the mindset of every individual on the use of new innovative products
through technology services. Social influence (SI) can be derived from the effect of
subjective norms and social factors on behavior and intention to use e‐money in UTAUT.
The digital payments provider is collaborating with the City of Manila to deploy
contactless payments via its PayMaya QR method to the city’s newly-launched cashless
stalls around the Manila City Hall and in Divisoria, the city’s popular bargain shopping
market. The top quick service restaurants in the country like Jollibee, McDonald’s, and
KFC have all adopted PayMaya’s end-to-end digital payments solutions for enterprise
comprising the devices for in-store and drive-thru, PayMaya’s digital payment gateway, as
well as digital invoicing solutions to process online orders. (Devanesan, 2020)
Risk
Smartphones and information communication technology advancement have
played a huge part in our lives. As mobile technology innovation arises, QR codes became
the primary design to have a cashless transaction that can help clients pay their bills at any
time because of the convenience that it can bring to them. But, some of the clients are no
longer thinking, or they are setting aside the threats that can affect their privacy in the long
run. Kumar et al. (2022). In addition, every cashless transaction requires their users to
input their identification cards to have a legitimate identification in the application. It can
be a complete loss of privacy to the user while using the application. That can lead to a risk
of robbery because of exposing too much information in the application. (Fabris 2018).
QR Application became functional for every user of cashless transactions because
of the capability of the Barcode that can be used in different activities and bring

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convenience to the user of the said application. However, it may cause problems for the
user of the cashless because of giving too much information in every QR Code Application.
They can also be utilized maliciously by cyber hackers.
According to Posey (2022), QR codes became the primary target of cybercriminals
because they are the easiest to access to steal the information of a client. Also, another
problem that QR codes may occur is that they become the main target of phishing attacks.
As stated by Agazzi (2020), Due to the design’s ease of replacement by malicious QR
Codes, fraudsters can quickly replace a trustworthy Qr code to commit cyber fraud.
Nowadays, Technology become a huge part of the financial industry. It becomes
more convenient and easier to use for every one who desires to have a transaction
anywhere. On the other hand, threats and risk also arise because it is very easy to generate
a QR code that can affect the transactions of the clients.
Using QR code in financial transactions has become a trend because of being easy
to transact without experiencing any inconvenience. It becomes less difficult to understand
how to use this kind of transaction. However, clients don't usually see the harmful effect
of the QR code, especially to those who are not literate in using quick response transactions.
As stated in the study of Rudesha (2019), Customers and small retailers are facing high
risk and problems in the application of cashless transactions because of the low literacy
rate in rural areas in different countries. Moreover, the government can reduce this kind of
risk for those people who don’t have enough knowledge in using QR codes, to increase the
public awareness of the advantages and disadvantages of the cashless transactions more
work must be done during the financial literacy campaign. (Rudesha 2019)

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During the pandemic, the rapid transition of mode of payment has driven the
development of mobile devices and e-commerce to adapt the QR code scan as a payment
system. It becomes popular to the younger generation because of being easy and convenient
to use in every transaction. However, because of the abrupt demand of using QR code, it
may also increase the risk that can affect the consumer's privacy and decision-making.
According to the study of Huang et al. (2021) younger generations differ from other
generations' in terms of the systematic difference in values, preference and behavior
that are not stable. Also, limited attention can exert a negative impact on the consumer's
decision-making. In addition, Privacy risk, another perceived risk that younger generation
can encounter in disregarding the risk that can affect their privacy that can cause fraud and
hacking that potentially compromise the security of the cashless payment system.
Moreover, Namaroot and Jantasri (2022) by using the UTAUT model, perceived risk have
a significant influence on behavioral intention to use the cashless payment system.
Trust
Users of smartphones are expanding quickly. Smartphone users will number 5.22
billion by 2021, growing at a 1.8% annual rate, or 93 million new users (Wardani, 2021).
This is consistent with the rising number of internet users. The number of internet users
has increased to 4.66 billion as of this writing. 7.3% or 316 million more people in 2025
than in 2020. It's no surprise that digital transformation is on the rise given this tendency.
Also expanding.
To provide clients with effective and efficient services, one of mobile payments
and a choice that suppliers have utilizing. QR codes is one method that may be used to

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deliver effective and efficient services. The use of QR codes for payments is very recent in
Indonesia. Even though they are still quite new, QR codes are already being widely
employed by many mobile payment service providers, as seen by the fact that practically
all of them include QR code-based technology. Additionally, by issuing QRIS, the
government of the Republic of Indonesia encourages the usage of QR code-based payment
technology. Any mobile payment service can be used to access QRIS, a national standard
QR code-based payment service. Although there has been extensive marketing research on
the acceptance of m-payments, there is little literature on the use of QR codes for payments.
Additionally, one technology that speeds up the payment procedure is the QR code (Yan
et al., 2021).
Numerous studies show that trust is a significant predictor of adoption of
technology by individuals (Shao et al. 2019, Gong et al. 2020). The formation of trust in
mobile payment service providers has a positive outlook. Trust in a system's operation has
a positive impact on attitudes. (Sarkar et al. 2020). When deciding whether to use
technology, a person's level of trust is crucial. User’s trust develops when there is past
knowledge and a well-established reputation for a company. However, when it comes to
financial technology, this statement cannot be verified (Merhi et al., 2019). When someone
already holds the view that the technology being utilized provides advantages for users,
performance expectation increases significantly (Khalilzadeh et al., 2017).
Trust is defined as "the belief that a person or organization's integrity, ability, and
benevolence can be trusted." Trust regarding technology is defined as "the level of
confidence a consumer has that the consumed product or service will meet predefined
expectations." Trust can be an important factor when it comes to money, such as mobile

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payments. According to the findings, 74% of respondents agreed that QR code-based
mobile payments are reliable, 58% agreed that they are safe, 66% agreed that they are
trustworthy, and 68% agreed that the instructions for use are clear and intelligible. The
cumulative mean score of all four questionnaire items is 3.87, which is considered high.
This suggests that respondents believed QR code mobile payment could be trusted (Roslina
Ibrahim, 2020).
The bank will contribute to the development of an integrated payment system. To
ease digital payment transactions in Indonesia, Indonesia adopted a standard QR code
payment, known as QRIS (Quick Response Indonesia Standard) (Saputri, 2020). QRIS is
a non-cash payment system that is deemed more practical and efficient in practice
(Goleman et al., 2018). QRIS is a digital payment instrument that has shown promise since
its inception. It is well known that the demographics of QRIS users, especially students,
are highly diverse. The purpose of this study is to identify Jabodetabek students'
preferences for using QRIS as a digital payment method. The following four characteristics
are used to measure preference or interest in adopting QRIS that occurs in this study:
1)Easiness Characteristic; 2) Usefulness Characteristic; 3) Risk Characteristic; and 4) Trust
Characteristic. (Yudistira Andi Permadi 2021, Angestika Wilandari 2021).
According to the study's findings, 40.3% of respondents prefer to trust and feel safe
when transacting with QRIS. This is consistent with the results of the respondent's
questionnaire on ease qualities. This suggests that respondents who find it simple to interact
with QRIS will feel comfortable and confident in continuing to transact with QRIS in the
future (Yudistira Andi Permadi 2021, Angestika Wilandari 2021). Trust will influence
consumer choice for utilizing QRIS as a payment mechanism (Husna, 2020). By analyzing

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the results in both studies given above, The researchers can say that the behavioral intention
to use QR code-based mobile payment is affected by trust.
SYNTHESIS OF REVIEW OF RELATED LITERATURE
Previous and existing studies that provided information, written by different
authors, were significant to the study, "Assessment of Cashless Transaction Using QR scan
on Food stalls along the University belt." The study concluded from different authors
consisted of helpful claims about the behavioral intention in terms of using QR scan and
studies that correlated to the researchers' goal and intention. Based on the study of (Rosli
et al., 2020), Venkatesh (2003) developed a model with five variables: performance
expectancy, effort expectancy, social influence, risk, and trust. The Unified Theory of
Acceptance and Use of Technology (UTAUT) is based on findings from eight research
models in the adoption of information systems.
Chang et al. (2021) found out that performance expectancy is a crucial component
in the adoption of mobile payment tools, and QR codes are available at the majority of
cashier desks. It is simple to utilize in China, regardless of the size or location of these
establishments. According to Statista Research Department (2022), a survey on the use of
QR codes scan to pay was done in 2021, and 31% of respondents in the Philippines said
that they used QR codes to make payments in 2021. In the Philippines, the utilization of
QR scan to pay in 2020 is 26%, while in 2021, the figure is 31%.
Imani, Anggono (2020) explained that the degree of convenience related to the
usage of given technology is defined as effort expectancy. This component indicates where
users are free of effort to easily understand the use of certain types of mobile payment.

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According to Guo, Gao, Yang, and Jing, (2018), a model was empirically tested with a
sample of 215 consumers of QR code mobile payment services in China. They found out
that performance expectancy, effort expectancy, and social influence all had a strong
positive direct impact on consumers' preferences to continue using QR code mobile
payment services. However, perceived danger had no negative impact on customers'
propensity to use QR code mobile payment services on a regular basis. According to Nath,
Dr. M, (2020), One of the factors influencing technology intention and usage is effort
expectancy. The degree of convenience associated with the use of a system, as defined by
researchers, impacts its utilization. The process of scanning QR codes is difficult for the
majority of non-users (27%). This prevents them from using QR code technology.
Based on Le et al. (2020), social influence is the degree to which an individual
believes that important others believe he or she should use the new system. In addition,
according to Mun et al. (2017), the influence of family members, friends, peers, or another
important person in forming an individual's conduct or belief cannot be ignored, and this
is particularly applicable in the context of technology adoption. This is especially true when
the technology is still in its infancy or early stages, with only a few early users. Martins et
al. (2014), found out that social influence has an effect on online users' intentions to use
Internet services. In contrast to Chaouali et al. (2015), it was reported that social influence
affected every individual's thinking towards the adoption of new innovative products via
technology services. The effect of subjective norms and social factors on behavior and
intention to use e-money in UTAUT can be used to calculate social influence.
According to Posey (2022), QR codes have been the prime target of hackers
because they are the easiest to access in order to steal a client's information. Another issue

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that QR codes may encounter is that they become the primary focus of phishing assaults.
According to Agazzi (2020), fraudsters can immediately replace a trustworthy QR code to
commit cyber fraud due to the design's simplicity of replacement with harmful QR Codes.
Based on Rudesha's (2019) research, customers and small shops face considerable risk and
challenges while using cashless transactions due to low literacy rates in rural areas in
different countries. Furthermore, the government can limit this type of risk for those who
do not have sufficient understanding in using QR codes; nevertheless, more effort must be
made during the financial literacy program to enhance public awareness of the benefits and
drawbacks of cashless transactions. According to Huang et al.'s (2021) research, younger
generations differ from previous generations in terms of systematic differences in values,
preferences, and behavior that are not stable. In addition, limited attention might have a
negative impact on consumer decision-making. Furthermore, another perceived risk that
the younger generation may face is ignoring the risk that can damage their privacy, which
can lead to fraud and hacking, thus compromising the security of the cashless payment
system. Furthermore, Namaroot and Jantasri (2022) found that perceived risk has a
substantial influence on behavioral intention to employ the cashless payment system when
using the UTAUT model.
Based on the study of Roslina Ibrahim (2020), Trust is defined as "the belief that
a person or organization's integrity, ability, and benevolence can be trusted." Trust in
technology is defined as "the level of confidence a consumer has that the consumed product
or service will meet predefined expectations." According to the results, 74% of respondents
believe QR code-based mobile payments are reliable, 58% believe they are safe, 66%
believe they are trustworthy, and 68% believe the instructions for use are clear and

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understandable. The total mean score of all four questionnaire items is 3.87, which is
deemed excellent. This indicates that respondents thought QR code mobile payment was
trustworthy. Furthermore, according to the research of Yudistira Andi Permadi (2021) and
Angestika Wulandari (2021), QRIS is a digital payment instrument that has showed
potential from its start. It is commonly understood that the demographics of QRIS users,
particularly students, are extremely diverse. The goal of this study is to determine the
preferences of Jabodetabek students for utilizing QRIS as a digital payment mechanism. In
this study, the following four characteristics are utilized to assess preference or interest in
adopting QRIS: 1)Easiness Characteristic; 2)Usefulness Characteristic; 3)Risk
Characteristic; and 4)Trust Characteristic. According to the results of the study, 40.3% of
respondents prefer to trust and feel safe when doing business with QRIS. This matches the
results of the respondents' questionnaire on easy attributes. This implies that respondents
who find it easy to deal with QRIS will feel at ease and secure in continuing to do business
with QRIS in the future.

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Definition of Terms
The key terms in the study are given the following operational definitions.
Adaptability - is the capacity of a person to adapt to changes in their environment. Changes
in your job goals have a direct impact on your ability to remain adaptable.
Accessibility- is the activity of making as many people as possible understand, value, and
use information, activities, and/or settings.
Cashless Transactions- In cashless transactions, payments are accepted without the use
of cash. It is used to provide easy access to online information about digital cameras on
smartphones and tablets.
Convenience - It is a state of being able to proceed with something with little effort or less
difficulty. Anything that saves or makes work easier contributes to ease and comfort..
Digital Payment - A monetary transaction between two individuals, corporations, or
governments using a digital payment mechanism.
Efficiency - the capacity to do a task with minimal or no waste, energy, or effort is the
frequently quantifiable capacity to avoid wasting resources when performing something or
when achieving a desired goal.
E-Wallet - A type of electronic card used for online transactions via computers and
smartphones. It is used in the same way as a credit card or debit card. To make payments,
an e-wallet must be linked to the person's bank account.
Food Stalls - A temporary structure where food is prepared and sold to the general public.

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Quick Response (QR) - it is used to provide easy access to online information about digital
cameras on smartphones and tablets. The code is basically a barcode on steroids. Barcodes
carry information horizontally, while QR codes carry information both horizontally and
vertically.
University Belt - Contains of universities, institutions, and locals, other Filipinos, and
some international students attend the universities in this district.
Scan to pay - The user may scan the QR code and pay the merchant without entering any
merchant account information. The merchant will have the bank's QR code, which may be
scanned by clients of the same bank to make payments.
Two Way Authentication - often known as dual-factor authentication, is a security
procedure in which users submit two separate authentication factors to validate themselves

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Theoretical Framework
Theoretical background
The use of the theory that the researchers found will be used to explain the Cashless
transaction Using QR scan on Food Stalls along the University belt. These include the
universal technology adoption and use theory (UTAUT) (Venkatesh & Davis, 2000)
Figure 1. Unified theory of Acceptance and Use of Technology (Venkatesh, 2003)
The Unified Theory of acceptance and Use of Technology (UTAUT) model explored the
behavioral intentions and usage of mobile payment from the prospective purchase of
intentions of the consumers. By the extended Unified Theory of Acceptance and Use of
technology model with the addition of Performance Expectancy, Effort Expectancy, Social
Influence, Perceived Risk and Trust. The Unified Theory of Technology Acceptance and

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Use (UTAUT) model. The purpose of UTAUT is to describe the user's intentions of use
and subsequent use behavior. This theory states that the key components of achievement
expectations, effort expectations, social impacts, and supportive conditions are direct
determinants of use intentions and behaviors (Venkatesh et al.…, 2003).
Conceptual Framework
Figure 2. Conceptual Framework
Figure 2. The flow will start at the demographic profile of the respondent, such as age,
gender, occupation, and educational background, which is our dependent variable as
provided in the figure. The second flow will focus on the perception of food stall owners
towards cashless transactions and will answer the following questions based on
Performance Expectancy, Effort Expectancy, Social Influence, Risk, and Trust, which will

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be the independent variables. Lastly, the third flow will be the basis for improving cashless
transactions.

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METHODOLOGY
Introduction
The quantitative methodological approach was considered to be used for this

research. The questionnaire, which was used as the research instrument. The details of the
research procedure were described as follows.
2.1 Research Design
This research study assesses the Cashless Transaction Using QR scans on Food stalls along
the University belt. The researchers used a Descriptive-Quantitative research method in
conducting this research.
According to Bahndari (2020), A quantitative research is a collection of measurable

data and the application of statistical, mathematical, or computer methods that can be used
to gather data from the qualified and potential respondents of the research. Also,
quantitative research uses methods such as; sending out questionnaires, surveys, and polls
to collect information from existing and potential customers in the future.
There are many different quantitative research techniques that can be used to gather
data. But for our study, we chose a survey research method. The survey method uses
statistically precise the number of the population and questionnaire design methods to
measure demographic data.
The survey was conducted using a survey questionnaire using Google Forms. The
following questions in the survey questionnaire examine the respondent's Perception of the
Respondents Towards the Effect of the Capability for a Food Stall to run a full cashless
transaction with regard to five significant variables. These are as follows: a. Performance
Expectancy b. Effort Expectancy c. Social Influence d. Risk e. trust. Using Four point scale
and a multiple choice survey will be used by the researchers to gauge respondents'
sentiments regarding online transactions on a scale of 1 to 4. The respondents assign the
Strongly Agree 1.00 - 1.75

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Agree 1.76 - 2.50
Disagree 2.51 - 3.25
Strongly 3.26 - 4.00

Disagree
2.2 Data Management
2.2.1 Data According to Source
Prior to engaging in any off-campus study, the researchers must first obtain at
Adamson University all the forms, such as endorsement and authorization, that will be
needed to conduct a study. The researchers started to prepare the Google forms that focus
on the assessment of using cashless transactions along the university belt. The
questionnaire is formulated based on real-life situations in the use of QR code scan to pay
payments in their food stall/s.
The researchers began collecting data by conducting surveys throughout the

research area, which includes the City of Manila. In order to collect 125 food stall owners
and staff members who are qualified to respond to the survey, the researchers mostly
conduct surveys in the Central Station, Taft Avenue, Quiapo, and Recto University belt.
The researchers ask pre-question individuals, such as, "Are you a staff or owner of
this food stall?" to make sure they are competent to respond to the survey. Data was
collected via a survey questionnaire distributed using an easy-to-use chat app, a QR code
that could be scanned using a phone camera, and a Google Form. Additionally,
respondents were initially asked for their permission. All information and data gathered
from the respondents will be added to Microsoft Excel to save the data, and all personally
identifiable information will be handled in complete confidence.
2.2.2 Data According to Methods

The method used in this research is a quantitative, non-experimental method.

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The researcher used quantitative methods because quantitative methods emphasize
objective measurements and the statistical data collected through pools or questionnaires
or surveys that will be answered by the respondents and the research will show the
statistical analysis of data. According to PR Newswire (2022), a globally recognized
research, ratings, and reviews platform, recently published a new research report titled
"Scenario Planning - Objectives, Benefits, and Methods of Application." It attempts to
identify and analyze scenario planning's objectives, benefits, types, application methods,
and challenges. The study intends to investigate a variety of possible future probabilities
in order to assist organizations in making more informed strategic decisions and improving
their scenario-planning initiatives. The researchers cannot control the variables or the
subjects, they use a non-experimental method. According to Adam, R. (2022), there are no
variables that the observer can directly control in a non-experimental study. Instead,
researchers must easily filter through established context to arrive at their own
interpretation of the events. While the use of non-experimental research is limited, there
are a few key areas where a researcher may find this type of methodology useful.
Correlation design is used to show the relationship between the two variables, the
demographic profile of the respondents, and the assessment of Cashless Transaction Using
QR scans on Food stalls along the University belt. According to Cherry (2022), a
correlational study is a type of research design wherein the relationships between two
variables are examined. Correlational studies are non-experimental, which means that no
variables are manipulated or controlled by the researcher.

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2.3 Sampling Design
2.3.1. Sample Population
Using a Raosoft sample size calculator with a margin error of 5%, a confidence
level of 95%, 50% of response distribution, and with a total population of 184. The total
sample size is 125 Food stalls along the university belt. The researcher of this study seeks
to gather data from the 125 Food stalls along Central Station, Taft Avenue, Quiapo, and
Recto University belt. The researcher used the Purposive sampling technique to gather
information from selected individuals, who have the characteristics that can help the
researchers to achieve the study’s objective.
2.3.2Respondents
The respondents are the business owners and staff of food stalls along the
University Belt. However, one hundred twenty-five (125) individuals will be the
researcher's target respondents of the study.
2.3.3 Research Instruments
The survey questionnaire that will be utilized in this study will be divided into
three (3) sections, the first of which is the socio-demographic profile of the respondents.
This tool will be used to gather the respondent's Educational background and a question
regarding whether they are utilizing a QR code or a cashless payment as a new method of
payment.
2.3.4 Control Procedure
The researchers did a self-created questionnaire that was pre-testing outside the
sample size to which is equal to thirty (30) to ensure the reliability of the self-made
questionnaires. This was later on tested by their statistician through a Reliability test. Using
Cronbach's Alpha, the result of the test made by the statistician resulted in a 94% reliability
rate, which means that the survey created is therefore reliable enough to be distributed to
other respondents.

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2.4 Statistical Treatment
The purpose of this study is to determine which method of payment is preferred by

employees and business owners. The researcher will begin their analysis after gathering
the necessary data. Based on the self-made survey questionnaire responses of the selected
respondents, the researcher will use formulas and computations to determine the means.
The statistical method that the researcher used to analyze, organize, and interpret
the collected data.
Frequency Counting and Percentage - This is used to establish the respondent's

demographic profile and responses.
Mean Weighted - This statistical method will determine whether employees

and business owners prefer cashless or traditional payment.
One Sample T-test- This test is used to determine if there is a difference between
a group and the population.
ANOVA test - This test is used to see if the test results are significantly different.
It will display the preferred method of payment for both business owners and staff. The
ANOVA Test will also determine the significant difference between the demographic
profile and the variable.
Cronbach's Alpha- To determine the accuracy of the survey to be used in the

study, the researchers will use Cronbach's alpha for the pre-test. This is done to ensure that
all the questions on the questionnaire are clear and understandable to the respondents.
2.5. Decision Criteria
The researcher will use a 0.05 level of significance in order to evaluate the result,
which will be one of the basis for whether to accept or reject the null hypothesis.
2.6 Ethical Consideration
The researcher will tackle the possible hazard or harm concerning the respondents
or participants of the research and will enlist ethical consideration and ethical issues so that

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the respondents will be safe and away from harm. According to Bryman and Bell (2007),
there are ten ethical considerations that are important in dissertations. The 10 ethical
considerations are listed below:
1. Research participants should not be subjected to harm in any ways whatsoever.

2. Respect for the dignity of research participants should be prioritized.
3. Full consent should be obtained from the participants prior to the study.
4. The protection of the privacy of research participants has to be ensured.
5. An adequate level of confidentiality of the research data should be ensured.
6. The anonymity of individuals and organizations participating in the research has to
be ensured.
7. Any deception or exaggeration about the aims and objectives of the research must
be avoided.
8. Affiliations in any form, sources of funding, as well as any possible conflicts of
interest, have to be declared.
9. Any type of communication in relation to the research should be done with honesty
and transparency.
10. Any type of misleading information, as well as representation of primary data
findings in a biased way, must be avoided.
The researcher will also address the following Ethical issue:
1. Voluntary participant- The respondents have the ability to choose in or out of the
study at any point in time.
2. Informed consent - The respondents know the purpose, benefits, risks, and funding
behind the study before they agree or decline to join.
3. Confidentiality- Only the researchers know the participants and the information
will be hidden from everyone else. The researchers will anonymize personally
identifiable data so that the data will not be linked to other research or other people's
hands.
4. Potential for harm - The researchers will ensure that Physical, social, psychological,
and other types of harm are kept to an absolute minimum.

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5. Results communication- The researchers will ensure that the work is free of
plagiarism or research misconduct, and the result will accurately represent the
researcher's results.
2.6.1 Conflict of Interests
The researcher will accept a paid consulting position with a company interested in
our research. Using students to perform services for a company in which you have a
financial interest; signing a book for which you receive royalties as the required text for a
course; and accepting a research contract with a restrictive publication schedule.
2.6.2 Privacy and Confidentiality
The researchers are aware to maintain the confidentiality of all the information they
have collected from the respondents and to prevent its release. All information will be kept
confidential during the study, and the respondents have given their consent for the
researcher to use their real names in the research report. As a result, we guarantee that
respecting the respondents' autonomy and overall well-being is necessary for protecting
their privacy.
2.6.3 Informed Consent Process
Each respondent will be asked politely if they are willing to take part in the research
and answer the survey. The researchers will ask the respondent to sign the consent form if
they are interested in participating. The purpose of the study will be fully explained by the
researchers.
2.6.4 Vulnerability
The respondents of the research are those who are Male and Female of legal age,
which are 18–59 years of age. The main focus is also the Vendors and Owners of food
stalls around U-belt, which can be any of marital status along with any educational level
of attainment. There will be staff and business owners of the same demographic profile
that is included in the main focus of the survey.

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2.6.5 Recruitment
In this study, the researchers will use the total population in choosing the respondents.
Only followed the survey’s instructions. These are participants who are capable of
answering all the survey questionnaires. The researchers will search around to the given
place and look for food stalls that are capable of being a respondent to the study. The
questionnaire will be given to the participants by using a QR code. They will be given a
QR code that will take them to the Google form survey.
2.6.6 Assent
The respondents of the study are the owners and employees who are in ages 18
years old up to 59 years old. It has food stalls and consumers along the university belt.
2.6.7 Risks
The respondents won't be put at risk throughout the research's execution, and their
private information won't be shared or used for any illegal purposes. Respondents will also
be required to give their approval before they can take part in the study. While in the
researchers, the risk is that the respondents might give false information while answering
the survey.
2.6.8 Benefits
The purpose of the research is to increase the researcher's understanding of their

subject of study, learn more about their subject of study, and learn more about the research
process itself. The side of the responders, they might have a forum to share their thoughts
and expectations regarding their experiences with cashless transactions as a new form of
payment. The study will reveal the insights of the staff at the food stalls who are using
cashless transactions as a mode of payment.
2.6.9 Incentives or Compensation
The respondents did not get any money in exchange for their participation.
2.6.10 Community Consideration

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After the research was conducted, some of the respondents still recommend a
traditional way in paying their transactions instead of using cashless transactions or to be
specific using QR code scan. The reason why is that some of the respondents can’t easily
adapt with the changes regarding digital payment, with the reason that there are levels to
the amount of adaptation and understanding to changes that people have, which can affect
their sense of technological literacy. Speaking of technological literacy, there are some
who are tech-savvy that are ahead of some who can easily adapt to changes when it
comes to it, specifically like cashless or Qr transactions.
2.6.11 Collaborative Study of Reference
The participants in the research are the College of Business Administration students
majoring in Financial Management who are enrolled at Adamson University and taking the
course Financial Research 1.

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RESULTS AND DISCUSSION
Introduction
This section contains the Table, Presentation, Analysis, and interpretation of data
along with the summary of the findings, conclusions, and recommendations.
In the research, several statistical methods will be employed to analyze the data that
is encoded in the table. Every table was formulated with different statistical techniques to
explain the information gathered. Starting off with Frequency counting and percentage
which will be utilized to establish the demographic profile and responses of the
respondents. The mean weighted approach will help determine whether employees and
business owners have a preference for cashless or traditional payment methods. The one-
sample t-test will assess if there are any significant differences between a group and the
population. Additionally, the ANOVA test will be employed to examine if there are
significant variations in the test results, displaying the preferred payment method for both
business owners and staff. Moreover, the ANOVA test will evaluate the significant
difference between the demographic profile and the variable. To ensure the accuracy of the
survey, Cronbach's alpha will be used in the pre-test to ascertain the clarity and
understandability of the questionnaire for the respondents.
A research findings revealed a positive correlation between performance

expectancy and consumer acceptance of cashless payment among UMK's staff. The
correlation coefficient between the two variables was found to be 0.724. Furthermore,
through coefficient regression analysis, it was determined that performance expectancy had
the fourth highest beta value of 0.167. These results indicate the significance of
performance expectancy in influencing the acceptance of cashless payment among UMK's
staff (Bin Razali, Salehhudin, Lee, & Binti Moktar, 2023).
The findings regarding the habitual factor indicated that small entrepreneurs
exhibited the highest level of familiarity with using PromptPay for business transactions.
They were followed by individuals who had experience with Internet Banking and were
skilled in using QR codes to make purchases. Lastly, they had experience with Rabbit Line
Pay for buying goods and services, with mean values of 3.88, 3.69, 3.53, and 3.27,

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respectively. (S. CHAVEESUA N. PIYAWAT 2021) Similarly, according to a study
conducted by Raza et al. in 2019, it was discovered that the adoption of QR codes by
consumers for routine and frequent habits has an impact on both behavioral intention and
actual usage (Raza et al., 2019, pp. 1-5).
The findings related to the price value factor indicated that entrepreneurs perceived
the cost of using QR Code technology to be more reasonable compared to other payment
systems. They believed that QR Code technology offered cost-effectiveness and helped
save money on cash management. Additionally, the entrepreneurs found the price of using
QR Code technology to be suitable for their budget. The mean values for these perceptions
were 3.94, 3.88, 3.64, and 3.57, respectively. (S. CHAVEESUA N. PIYAWAT 2021)
3.1 Presentation, Analysis, and Interpretation of Data
The researcher conducted a survey along Central Station, Taft Avenue, Quiapo, and
Recto University belt. The researcher uses Frequency and Percentage Distribution,
weighted mean, One-way ANOVA, and One-sample T-test in order to Present, analyze,
and interpret the data.

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Table 1.0 exhibits the frequency and percentage distribution of the respondents in
terms of age. Based on the table, the minority of the respondents in this study were ages 53
years old to 59 years old with 0.80% of total sample respondent, the majority of the
respondents were ages 18 years old to 24 years old with 43 or 34.40% of the total
respondents.
terms of sex. Based on the table, the minority of the respondents in this study were female
with 51 or 40.80% of total sample respondent, the majority of the respondents were male
with 74 or 59.20% of the total respondents.
terms of occupation. Based on the table, a minority of the respondents in this study were
business owners with 58 or 46.40% of total sample respondent, the majority of the
respondents were staff with 67 or 53.60% of the total respondents.

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Table 1.3 exhibits the frequency and percentage distribution of the respondents in terms of
educational background. Based on the table, a minority of the respondents in this study
were elementary graduates with 1.60% of total sample respondent, the majority of the
respondents were college graduates with 58 or 46.40% of the total respondents.
Table 2.0 presents the weighted mean of the respondents towards the effect of the
capability for a food stall to run a full cashless transaction in terms of performance

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expectancy. It was exposed from the table that the weighted response of the respondents
was in agreement with 2.05 weighted mean. It explains that most of the respondents agree
that the listed situation above were common things on the perception of the effect of the
capability for a food stall to run a full cashless transaction in terms of performance
expectancy. The situation that had the highest response was all food stalls needing to adopt
a QR Code scan to pay. While the situation that has the least number of responses was the
rise of QR code scan to pay, hinder the respondent’s food stall ability to generate profit.
capability for a food stall to run a full cashless transaction in terms of effort expectancy. It
was exposed from the table that the weighted response of the respondents was in agreement
with 1.82 weighted mean. It explains that most of the respondents agree that the listed
situation above were common things on the perception of the effect of the capability for a
food stall to run a full cashless transaction in terms of effort expectancy. The situation that
had the highest response was the respondents agreeing that cashless payment was much
more convenient. While the situation that has the least number of responses was the
experience of errors when doing cashless transactions.

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capability for a food stall to run a full cashless transaction in terms of social influence. It
was exposed from the table that the weighted response of the respondents agreed with 1.70
weighted mean. It explains that most of the respondents agree that the listed situation above
were common things on the perception of the effect of the capability for a food stall to run
a full cashless transaction in terms of social influence. The situation that had the highest
response was the respondents agreeing that there are possibilities to have a full cashless
transaction due to influence of other business owners. While the situation that has the least
number of responses was the cashless transactions affect the consumer on new buying and
consumption methods.

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capability for a food stall to run a full cashless transaction in terms of risk. It was exposed
from the table that the weighted response of the respondents was in agreement with 2.05
weighted mean. It explains that most of the respondents agree that the listed situation above
were common things on the perception of the effect of the capability for a food stall to run
a full cashless transaction in terms of risk. The situation that has the highest response was
the QR code scan can be prone to security and malicious attack (Phishing, Trojan, data
theft, etc.). While the situation that has the least number of responses was users of cashless
transactions experiencing message and advertisement spam after using cashless
transactions.

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capability for a food stall to run a full cashless transaction in terms of trust. It was exposed
from the table that the weighted response of the respondents was agreed with 1.76 weighted
mean. It explains that most of the respondents agree that the listed situation above were
common things on the perception of the effect of the capability for a food stall to run a full
cashless transaction in terms of trust. The situation that has the highest response was the
trusting matter in the respondent’s decision to use a cashless transaction and playing a
significant role in the adoption of the technology. While the situation that has the least
number of responses was the trust arises when there was prior experience and a proven
good company reputation.

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Table 3.0 presents the significant difference between the assessment of the
respondents on the effect of capability for a food stall to run a full cashless transaction
when grouped according to their age. Based on the table, the respondents on the effect of
capability for a food stall to run a full cashless transaction against according to the age of
the respondents was not statistically significant because the p-value was higher than the
level of significance which was 0.05, therefore, accept null hypothesis.
With regards to age, all age groups except those above 50 years old exhibit concern
regarding performance expectancy. However, it is important to note that the results may be
biased, as only 9.6% of the respondents in this study were above 50 years old. Younger
users of cashless payment methods appear to be more influenced by social factors, as
indicated by the significant coefficient (B = 0.370). The younger generation often tends to
be influenced by external factors as they have less experience and a desire to conform to
societal norms. On the other hand, the influence of effort expectancy, facilitating
conditions, and trust is more significant for older users of cashless payment methods. Older
individuals generally require more effort and assistance to embrace new technologies. They
are typically less adept with technology compared to the younger generation and may take

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longer to learn new things. Moreover, older people tend to be more risk-averse and are less
willing to experiment with unfamiliar concepts. (Zhi Goh Nguyen 2022)

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when grouped according to their educational background using one sample t-test. It was
exposed from the table that the effect of capability for a food stall to run a full cashless
transaction and sex has a significant difference due to the lower value of level of
significance which was 0.05, therefore rejecting the null hypothesis.
This implies that most of the respondents have the same extent of assessment on
the effect of capability for a food stall to run a full cashless transaction when grouped
according to sex.
Based on the study findings, the F value for overall cashless transactions is 23.108
with a significant value of 0.000, which is less than the 5% level of significance. This
indicates that there is a significant difference in cashless transactions across various
education levels. Therefore, the null hypothesis 1 is accepted even at a 5% or 1% level of
significance. (Kumar 2020)
Upon analyzing the table, it is evident that education levels have a statistically
significant impact on all components, except for one component, namely "Visit bank for
fund transfer" (IMPS/NEFT/RIGS). The F value for this component is 1.823 with a
significant value of 0.141, which is greater than the 5% level of significance. (Kumar 2020)

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when grouped according to their Gender using one sample t-test. It was exposed from the
table that the impact of the ability for a food stall to run a full cashless transaction and
occupation has a significant difference due to the lower value of level of significance which
was 0.05, therefore rejecting the null hypothesis.
This implies that most of the respondents have the same extent of assessment on
the effect of capability for a food stall to run a full cashless transaction when grouped
according to occupation.
The results presented in a study indicate that neither facilitating conditions nor
social influence were found to be statistically significant for both males and females, as
their corresponding p-values were greater than 0.05. However, gender did not moderate the
relationship between performance expectancy and effort expectancy, which was found to

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be significant for both groups. It is noteworthy that males showed a greater perception of
performance expectancy (B = 0.713) and effort expectancy (B = 0.265) compared to
females when it came to using cashless payment methods. Additionally, the moderation
effect of gender was found to be important in the context of trust, as only females were
found to have a significant relationship. (Zhi Goh Nguyen 2022)
when grouped according to their education background. Based on the table, the respondents
on the effect of capability for a food stall to run a full cashless transaction against according
to the educational background of the respondents was not statistically significant because

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the p-value was higher than the level of significance which was 0.05, therefore, accept null
hypothesis.
Regarding education level, the moderation effect exhibits varying directions.

Performance expectancy (PE) is not influenced by education level, as it remains significant
across all education levels. However, the effect of education level is more pronounced for
effort expectancy (EE), specifically in the case of higher education. The interaction
between effort expectancy and degree level (EE * Degree) has a significant coefficient (B
= 0.329). Trust is also more influential for individuals with higher education levels,
particularly those with education levels higher than STPM/Pre-U, where a significant
relationship is observed. It is important to note that the results of this study can be
generalized to the bachelor's degree group, as 54% of the respondents in the study possess
a degree level education.

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3.2 Summary of Findings
This chapter presents the summary of findings, conclusions and derived from the
findings and recommendation based on the findings and conclusions of the finding.
Respondents Demographic Profile

A. Age of the respondents
The finding showed the frequency and percentage distribution of the respondents
in terms of age. The table indicates that a minority of the respondents were between the
ages of 53 to 59, with only 0.80% of the total sample respondents falling within this age
group. On the other hand, the majority of the respondents were between the ages of 18 to
24, with 43 or 34.40% of the total respondents being in this age group. Overall, the data
suggests that the majority of the respondents in this study were younger adults, with a
relatively small representation of older adults.
B. Gender of the respondents
The finding showed the distribution of respondents based on their sex. A total of
125 respondents participated in the study, of which 74 (59.20%) were male and 51
(40.80%) were female. This indicates that the majority of the respondents were male, while
the minority were female.
C. Occupation of the respondents
The finding showed the distribution of respondents in terms of their occupation. The data
reveals that a small proportion of the respondents were business owners, constituting only
46.40% of the total sample, while the majority of respondents were staff, accounting for
53.60% of the total respondents. Based on the findings, the majority of staff are co-owners
and family members managing the food stalls. It helps the business to lessen their salary
expenses, since they run the food stalls so that owners won't pay for their labor or pay it
less compared to paying an actual staff or workers. Also, working with family members
can provide a helpful environment because you already trust the individuals you work with.

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D. Educational Background of the respondents
The finding showed the distribution of respondents according to their educational

background. A small proportion of the respondents, specifically 1.60% of the total sample,
had an elementary education. On the other hand, most of the respondents, specifically 58
or 46.40% of the total sample, were college graduates on vocational courses. A vocational
degree is a credential granted by an academic institution to students who have fulfilled
degree requirements for a particular subject or trade. Vocational degrees differ from
standard degree programs such as bachelor's and master's degrees. The former takes less
time than the latter and allows students to immediately begin working in the area or trade.
● The findings display the respondents' overall mean of 2.05 on their responses on
the impact of a food stall's capacity to conduct a complete cashless transaction in
terms of performance expectancy. QR code scan to pay in eliminating dangers
associated with card purchases garnered the highest mean of 1.97. Overall, the
variable performance expectancy gathered agreed interpretation.
terms of effort expectancy. Experience errors when doing cashless transactions
garnered the highest mean of 2.03. Overall, the variable effort expectancy
gathered an agreed interpretation.
terms of social influence. Affecting the consumer on new buying and
consumption methods garnered the highest mean of 1.93. Overall, the variable
social influence gathered strongly agreed interpretation.
terms of risk. Experiencing message and advertisement spam using cashless
transactions garnered the highest mean of 2.12. Overall, the variable risk gathered
agreed interpretation.

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terms of trust. Arises when there is prior experience and proven good company
reputation garnered, the highest mean of 1.85. Overall, the variable trust gathered
agreed interpretation.
● Using the one-sample t-test, respondents when group according to their educational
background of performance expectancy that gained a p-value of 0.57; effort
expectancy gained a p-value of 0.55; social influence gained a p-value of 0.89; risk
gained a p-value of 0.08; trust gained a p-value of 0.72. Therefore, reject null
hypothesis.
● Using the one-sample t-test, respondents when group according to their occupation
of performance expectancy that gained a p-value of 0.00; effort expectancy gained
a p-value of 0.00; social influence gained a p-value of 0.00; risk gained a p-value
of 0.00; trust gained a p-value of 0.00. Therefore, reject null hypothesis.
● Using the one-way ANOVA, respondents when group according to their
educational background of performance expectancy that gained a p-value of 0.00;
effort expectancy gained a p-value of 0.00; social influence gained a p-value of
0.00; risk gained a p-value of 0.00; trust gained a p-value of 0.00. Therefore, accept
null hypothesis.

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3.3 Conclusions
Based on the findings of the study, the following conclusions are made:
1. The majority of survey respondents, according to the researchers' demographic

findings, are college graduates who work mostly at food stalls. The researchers also
note that the majority of respondents are between the ages of 18 years old to 24
years old.
2. The variable affects the capability for a food stall to run a full cashless transaction.
Using weighted mean the overall perception on performance Expectancy is 2.05,
Effort expectancy is 1.82, Social influence is 1.70, Risk is 2.05, and the overall
perception on trust is 1.76. Therefore, the result shows that the result has a positive
on capability of food stalls to run a full cashless transaction.
3. When respondents are grouped according to age. P-value exceeding 0.05, there
were no significant differences in terms of age. The Performance Expectancy has a
p-value of 0.54, Effort Expectancy has a p-value of 0.49, Social influence has a p-
value of 0.81, Risk has a p-value of 0.23, and trust age range has a p-value of 0.97.
Therefore, accepting the null hypothesis.
4. When respondents are grouped according to gender, Using One-sample T-test the
mean difference of Performance Expectancy is 0.10, Effort Expectancy is 0.01,
Social Influence is 0.09, Risk is 0.17, and lastly Trust has a mean of 0.05. Therefore,
rejecting the null hypothesis.
5. When respondents are group according to their occupation, Using One- Sample T
test result shows that performance expectancy that gained a p-value of 0.00; effort
expectancy gained a p-value of 0.00; social influence gained a p-value of 0.00; risk
gained a p-value of 0.00; trust gained a p-value of 0.00. The impact of capability
for a food stall to run a full cashless transaction and occupation, has a significant
difference due to the lower value of level of significance, which was 0.05.
Therefore reject the null hypothesis.
6. When respondents are grouped according to their educational background ., using
One-Way ANOVA to identify the significant difference in terms of educational
background, P-value exceeding 0.05, the Effect of capability for a Food stall to run

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a full cashless transaction, Performance expectancy is 0.00, Effort Expectancy is
0.00, Social Influence is 0.00, Risk is 0.00, and mean of trust is 0.00. Therefore,
accepting the null hypothesis.

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3.4 Recommendations
Based on the findings of the study, the researchers recommend the following actions:
For Small Business Owners. Based on the result, it shows that 43 respondents or
34.40% are 18-24 years old while 67 respondents or 53.60% were staff, and 58 respondents
,or 46.40% are college graduates. Based on the study's overall outcome, Social Influence
has the lowest mean of 1.70. A lot of respondents agree that there was a chance that a
complete cashless transaction may occur because of the influence of other business owners.
Hence, they must tighten their security measures in every cashless transaction done by its
customer correspondingly the situation that has the highest response was the QR code scan
can be prone to security and malicious attack.
Business owners may promote the use of QR cashless transactions in general to

their customers as age and educational background accepted the null hypothesis signifying
that performance expectancy, effort expectancy, social influence, risk, and trust have no
significant differences in their evaluation of QR’s capability. Additionally, Owners should
explain to employees who have just completed primary school the fundamental functions
and advantages of the e-wallet programs.
Furthermore, gender rejected the null hypothesis, therefore signifying that there is
a difference in the evaluation of QR’s capability for females and the variables performance
expectancy, effort expectancy, social influence, risk, and trust. Result shows that male are
more frequent in using QR code platform. While female is less active in using QR code
payment for food stalls. Therefore, it is recommended that female staff and business owner
the researcher recommend that the female staff and business owner must attend either
online or face to face seminar about QR code payments through social media platform such
as Facebook group (Philippine Business/ startup/ SME seminar, business seminar for
entrepreneurs, and start up business network) specifically, what are the benefit of adopting
cashless transaction using QR code scan to pay in their business.
For Future Researchers. The future researcher can examine the concerns related
to security, privacy, fraud, and unauthorized access that consumers may have when using

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QR-based payment systems. This can involve conducting surveys, interviews, or
experimental studies to understand the specific risk perceptions and their influence on
consumers' adoption behavior. The future researcher can delve deeper into the potential
vulnerabilities, risks, and challenges that may arise when implementing QR-based payment
systems in food stalls. Future researchers may study medium to large-scale businesses’ use
of QR cashless transactions to cover all types of businesses and its effect on their financial
statement.

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ADAMSON UNIVERSITY i

Assessment of Cashless Transaction Using QR Scan on Food Stalls along the

Presented to the Faculty of the

College of Business Administration

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We would like to express our gratitude and acknowledgment to the following

make this research possible.

everything right for our work to be acceptable.

encouragement and guidance throughout the study.

it would not be possible without him.

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made it all possible to complete this study:

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Table 3.0 One- Way ANOVA: Difference between the 46

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Table 3.3 One- Way ANOVA: Difference between the 51

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Background of the Study

considered to have the highest rate of QR code adoption.

Thai consumers. (Qr Tiger, 2022)

In recent years, we have witnessed a growing trend in cashless transactions as well

rather it indicates a culture of people settling transactions digitally. In a modern economy,

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Sivasakthi, & Nandhini, 2017)

Ph person to person payments increased by 22 percent and 26 percent respectively.

should be considered the bedrock of digital service.

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of QR code mobile payment.

a monthly income of less than 20,000 baht.

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accepting cash payments than any other way.

of cashless transactions and the increasing adoption of QR scan technology in various

industries, there is a lack of comprehensive research focusing specifically on the

perception of the capability of food stalls to run full cashless transactions.

understand their preferences, behaviors, and readiness to embrace cashless payment

systems. Additionally, there is a lack of research that systematically examines the

conduct full cashless transactions.

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Furthermore, it seeks to explore the perceptions of these individuals regarding the

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on the food stall owners along the university belt.

1. What is the demographic profile of the respondent to be described in terms of:

1.4 Educational Background

Food Stall to Run a full cashless transaction?

2.1 Performance Expectancy

2.2 Effort Expectancy

2.3 Social Influence

3. Is there a significant difference between the respondent's demographic profile

and the variable mentioned in SOP 2?

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The hypothesis is based on the assessment of the researchers.

Hypothesis have been formulated:

according to the demographic profile of the respondents.

Scope and Limitations

the survey questions.

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A study related to QR codes can benefit students by providing them with an