Title: Exploring the Effect of Digital Payments on Student Spending Behavior: A Quantitative Analysis
Authors: Crislyn Gamboa, Rose Anne Garcia, Patrick Mejia, Sellicha Morphoues Nubla, Jessica Pangilinan, Ricardo S. Jimenez, DBA , MYRNA C. CALMA, CPA, PhD, Friacc
Volume: 9
Issue: 6
Pages: 318-336
Publication Date: 2025/06/28
Abstract:
Digital payment systems have revolutionized financial transactions, offering convenience and efficiency, especially to younger demographics. This quantitative research explored the impact of digital payment usage on the spending behavior of students at Mabalacat City College. Employing a descriptive-correlational design, the study analyzed responses from three hundred sixty-five (365) students from different institutes of Mabalacat City College to understand how digital payments influence their financial habits, priorities, and budgeting practices. Using the Theory of Planned Behavior, the study examined how attitudes, social influence, and perceived behavioral control shape students' financial decisions. The findings revealed that positive attitudes towards digital payments affect spending behavior, but social influence from peers does not significantly affect spending patterns, while students with greater perceived control over their finances tend to make more responsible decisions. Digital payment systems, particularly GCash, significantly affect students' spending patterns by increasing the ease of access to funds, leading to a mix of responsible and impulsive purchases. Statistical analyses, such as correlation and regression, highlighted demographic factors like age, gender, and monthly income/allowance as critical determinants of spending behavior. Furthermore, there is a significant relationship between the two variables (Chi Test Square, Likelihood Ratio). The results underscore the need for financial literacy programs to mitigate the potential downsides of digital payment accessibility among students.