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| Digital Transactions: Empowering Business Owners with E-Payment
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Christina Dionisio- Vicencio, PhD., Jerella Mae S. Feliciano, Abigail G. Garcia, Carlo Marc Justine G. Kundiman, Louis Andre R. Reyes, Yanessa Shakira R. Roldan, Jersy Mei A. Vicente
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Abstract:
E-payment plays an effective role in the transaction process in today's world of business. It is because of the impacts of e-wallets and banking apps on business owners. With this, the purpose of this study is to find out the impacts of e-payment transactions on business owners in one of the municipalities in Bulacan, Philippines. The design of the study is a purposive descriptive method using a quantitative approach. The technique used was a survey method through the validated questionnaire. It utilizes a Likert scale to measure the impacts of e-payment transactions, specifically, e-wallets and banking apps, on business owners. Based on the conducted survey, the majority of businesses in one of the municipalities in Bulacan, Philippines are inclined toward services and have operated for one to five years. Business owners usually offer GCash as a payment option for their businesses. Meanwhile, it was revealed that a lot of them are not using banking apps. As for securing e-payment transactions, they check or control their expenditures. For convenience, they enhance visibility while reducing transaction costs. In reaching a wider range of audience, they make sure that they choose what is more convenient for the consumers. When they have speed of transaction, it saves them time when receiving an online payment. For payment transparency, they respond in a timely manner to consumers' questions and issues. Lastly, they use e-payment to facilitate the swift and efficient transfer of cash, as well as to have paperless transactions and must keep up with the customer's technological demand to boost sales. In conclusion, the present study discovered that e-payment transactions have an impact on business owners.
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