Abstract

In today’s world, electronic device has become an essential part of

one’s daily life. Nowadays, electronic users can use their different
electronic devices to make financial transactions or payments using
applications installed on their devices. There are several electronic
wallets that provide these services. Electronic wallets are digital versions
of traditional wallets that someone would carry in their pocket they offer
payment services through which individuals/businesses can receive/send
money via electronic devices. This study throws light upon the customer
satisfaction level towards the E-wallet services provided.
 Chapter 1
Introduction
In simple language, an electronic wallet/e-wallet is a system
making payments through electronic devices. Electronic wallet payment
is the alternative method of a physical wallet with the use of electronic
devices. An E-wallet is an online platform that allows a user to save
money, utility and bills payment, money transfers, and store purchases.
It is very convenient and easy for users because you can simply sign in
or create an account on your electronic devices to make financial
transactions.
Electronic payment services are the result of the pandemic because
people are not allowed to go outside to make financial transactions. E-
wallet has become popular all over the world due to their cashless
service. E-wallet transaction provides ease and speed and gives
customers satisfaction and protection in making financial transactions
anywhere and at any moment. E-wallet users feel safe, and more
comfortable adding money to these wallets. This study aims to
investigate customer satisfaction with various services provided by the
different e-wallets.

Conceptual Framework
The conceptual framework represented in Figure 1, consists of four
variables including perceived ease of use, perceived usefulness,
intention to use an e-wallet, and trust, while five are the exogenous
factors incorporated in this model. These external variables are
confidentiality, integrity, authentication, authorization, and non-
repudiation. This study explores the factors which impact the adoption
intention of electronic wallets.
Figure 1

Confidentiality Perceived
Ease of Use
Integrity

Authentication Intention to
Trust
Use E-wallet

Authorization
Perceived
Non-Repudiation Usefulness
 CHAPTER II
Literature Review
A digital wallet, also known as an e-wallet, is an electronic
device, online service, or software program that allows one party to
make electronic transactions with another party bartering digital
currency units for goods and services. This can include purchasing items
either online or at the point of sale in a brick-and-mortar store, using
either mobile payment (on a smartphone or other mobile device) or (for
online buying only) using a laptop or other personal computer. Money
can be deposited in the digital wallet prior to any transactions or, in
other cases, an individual's bank account can be linked to the digital
wallet. Users might also have their driver's license, health care card,
loyalty card(s), and other ID documents stored within the wallet. The
credentials can be passed to a merchant's terminal wirelessly via near-
field (NFC).
Increasingly, digital wallets are being made not just for basic
financial transactions but to also authenticate the holder's credentials.
For example, a digital wallet could verify the age of the buyer at the
store while purchasing alcohol. The system has already gained
popularity in Japan, where digital wallets are known as "wallet mobiles".
A cryptocurrency wallet is a digital wallet where private keys are
stored for cryptocurrencies like bitcoin.

Technology
A digital wallet has both a software and information component.
Secure and fair electronic payment systems are important issue. The
software provides security and encryption for the personal information
and for the actual transaction. Typically, digital wallets are stored on the
client side and are easily self-maintained and fully compatible with
most e-commerce websites. A server-side digital wallet, also known as a
thin wallet, is one that an organization creates for and about you and
maintains on its servers. Server-side digital wallets are gaining
popularity among major retailers due to the security, efficiency, and
added utility it provides to the end-user, which increases their
satisfaction of their overall purchase. The information component is
basically a database of user-input information. This information consists
of your shipping address, billing address, payment methods (including
credit card numbers, expiry dates, and security numbers), and other
information.
Digital wallets are composed of both digital wallet devices and
digital wallet systems. There are dedicated digital wallet devices such as
the biometric wallet by Dunhill, a physical device that holds cash and
cards along with a Bluetooth mobile connection. Presently there are
further explorations for smartphones with NFC digital wallet
capabilities, such as smartphones
utilizing Google's Android and Apple's iOS operating systems to power
wallets such as Google Pay and Apple Pay.
Security
Consumers are not required to fill out order forms on each site
when they purchase an item because the information has already been
stored and is automatically updated and entered the order fields across
merchant sites when using a digital wallet. Consumers also benefit when
using digital wallets because their information is encrypted or protected
by a private software code; merchants benefit by receiving a
combination of protection against fraud, faster receipt of payment,
decreased transaction costs, and decreased theft loss.
Digital wallets are available to consumers free of charge, and
they're easy to obtain. For example, when a consumer makes a purchase
at a merchant site that's set up to handle server-side digital wallets, they
type their name, payment, and shipping information into the merchant's
own form. At the end of the purchase, the consumer is asked to sign up
for a wallet of their choice by entering a user name and password for
future purchases. Users can also acquire wallets at a wallet vendor's site.
Although a wallet is free for consumers, vendors charge merchants
for wallets. Some wallet vendors decide for merchants to pay them a
percentage of every successful purchase directed through their wallets.
In other cases, digital wallet vendors process the transactions between
cardholders and participating merchants and charge merchants a flat fee.

E-wallet is a new market trend which has been widely used by

everyone. It brings many benefits to users as it offers quite a few
services. Therefore, it is important for researchers to know users’
intention in using e-wallet so that e-wallet platform developers can
improve to serve users better. According to Zhao et al. (2010), intention
is a person’s willingness and eagerness to obtain something desirable.
Additionally, Venkatesh et al. (2003) started that intention to use can be
defined as the consumer’s interest and desire to try the new product and
services. Due to slow adoption and high competition, there is currently
no one standard online wallet as a form of payment varies based on both
individual store policy and the type of online wallet being used. It is
predicted that soon, as the use of online wallets increases, consumer
attraction to specific technologies will reduce the number of specific
online wallets.
 CHAPTER III
Methodology
The data for this research study was gathered using the snowball
sampling method. Researchers decided to conduct the survey online
since most of us have phones and internet connection. This research
study help us determine the popularity of E-wallets. The survey
questionnaire includes the respondent’s socioeconomic status and their
perspective on E-wallets.
The researchers decided to gather all the data online using Google
form. The respondents that the researchers gathered are mostly students.
The researchers asked all the respondents to fill up the survey truthfully
and asked them to spread the link to their friends that is willing to share
their opinion on E-wallets. The researchers gathered forty-two (42)
respondents. The researchers tallied and evaluated the result of the
survey. All the information received was kept safely and used for
research purposes only.

Sampling Technique
Snowball sampling or chain-referral sampling is defined as a non-
probability sampling technique in which the samples have traits that are
rare to find. This is a sampling technique, in which existing subjects
provide referrals to recruit samples required for a research study.
The frequency and percentage of the data will be calculated using
the formula:
x/n x 100 Where;
x = variable
n = total number of respondents
100 = constant
 Chapter IV
Data Analysis & Interpretation
Table 1 shows the gender frequency and percentage distribution of the
total respondents.
Table 1
Gender distribution of the respondents
Gender Frequency Percentage
Male 11 26.2
Female 31 73.8
Total 42 100

Figure 2

The above table and chart shows that 31 or 73.8 percent of the total
respondents are female, 11 or 26.2 percent are male.
Table 2 shows the occupation frequency and percentage distribution of
the respondents.
Table 2
Occupation Distribution of the Respondents
Occupation Frequency Percentage
Employed 2 4.80
Unemployed 1 2.40
Self-employed 0 0
Student 39 92.90
Total 42 100

Figure 3

The above table and chart shows that 39 or 92.9 percent of the total
respondents are students, 2 or 4.8 percent are employed and 1 or 2.4
percent is unemployed.
Table 3 shows the frequency and percentage distribution of the
respondents that are using E-wallet and respondents that are not yet
using E-wallet.
Table 3
Are you using any sort of E-wallet?
Frequency Percentage
Yes 36 85.7
No 6 14.3
Total 42 100

Figure 4

The table and chart above represents that 36 or 85.7 percent of the total
respondents are using E-wallet and 6 or 14.3 percent of the total
respondents are not using E-wallet.
Table 4 shows the frequency and percentage distribution of the total
respondents that are using any sort of E-wallet.
Table 4
What E-wallet are you using?
E-wallet Frequency Percentage
G-cash 39 92.9
Paymaya 0 0
Paypal 2 4.8
MLhuillier wallet 1 2.4
Total 42 100

Figure 5

The table and chart above represents that 39 or 92.9 percent of the
respondent are using G-cash, 2 or 4.8 percent are using Paypal and 1 or
2.4 percent is using MLhuillier Wallet.
Table 5 shows the frequency and percentage distribution of the total
number of respondent’s purpose in using E-wallet.
Table 5
What is your purpose in using the E-wallet?
Purpose Frequency Percentage
Money transfer 15 35.7
Utility and Bills 3 7.1
payment
Store purchases 2 4.8
All of the above 22 52.4
Total 42 100

Figure 6

The table and chart above shows that majority of the respondent’s
purpose in using E-wallet are money transfer, utility and bills payment
and store purchase with 22 or 52.4 percent while 15 or 35.7 percent of
the respondents only use E-wallet for money transfer, 3 or 7.1 percent of
the respondents uses E-wallet for utility and bills payment and 2 or 4.8
percent of the respondents uses E-wallet for store purchases.

Table 6 shows the frequency and percentage distribution on how often

the total number of respondent uses E-wallet.
Table 6
How often do you use E-wallet?
Frequency Percentage
Daily 4 9.5
Weekly 4 9.5
Monthly 2 4.8
Depending on the 32 76.2
need
Total 42 100

Figure 7
The table and chart above represents that 32 or 76.2 percent of the
respondents only use E-wallet depending on their needs, 4 or 9.5
percent of the respondents are using E-wallet daily and weekly and 2 or
4.8 percent of the respondents uses E-wallet monthly.

Table 7 shows the frequency and percentage distribution of the user’s

satisfaction level of the total number of respondents on E-wallet.
Table 7
How do you rate the E-wallet service(s) ex: fast service, reliability, etc?
Satisfaction Level Frequency Percentage
Very Satisfied 19 45.2
Satisfied 17 40.5
Neutral 6 14.3
Unsatisfied 0 0
Total 42 100

Figure 8
The table and chart above reveals the rating of the E-wallet services in
terms of fast service, reliability and etc. Out of 42 respondents 19 or
45.2 percent are very satisfied on the services that E-wallet rendered, 17
or 40.5 percent are satisfied, 6 or 14.3 percent are neutral and lastly
none of the respondents are unsatisfied on the services that E-wallet
rendered.

Table 8 shows the frequency and percentage distribution of users that

encountered problems while using E-wallet.
Table 8
Are there any obstacles when you use E-wallet?
Frequency Percentage
Yes 31 73.8
No 11 26.2
Total 42 100

Figure 9
The table and chart above represents that 31 or 73.8 percent of the
respondents did encounter any sort of problem while using E-wallet and
11 or 26.2 percent of the respondents have not encounter any sort
problem while using E-wallet.

Table 9 show the frequency and percentage distribution of the type of

problem that the respondents encounter.
Table 9
If yes, what are these obstacles?
Problem Frequency Percentage

Security of mobile payment 10 23.5

Time consuming 4 8.8

Data breach 2 5.9

Involves danger of losing 5 11.8

money
Unstable connectivity 11 26.5

All of the above 10 23.5

Total 42 100
Figure 10

The table and graph above shows that 11 or 26.5 percent of the
respondents are having trouble in accessing because of unstable
connectivity, 10 or 23.5 percent of the respondents answered all of the
above and security of mobile payment, 5 or 11.8 percent of the
respondents chose involves danger of losing money, 4 or 8.8 percent of
the respondents said that it is time consuming and 2 or 5.9 percent of the
respondents chose data breach as an obstacle in using E-wallet.
Table 10 shows the frequency and percentage distribution of the
respondents that believe the transactions through E-wallet are secured.
Table 10
Do you believe your transactions are secured with E-wallet?
Frequency Percentage
Strongly Agree 35 83.3

Strongly Disagree 7 16.7

Total 42 100

Figure 11

The table and chart above shows that 35 or 83.3 percent of the
respondents strongly agree that transactions made through E-wallet are
secured and 7 or 16.7 percent of the respondents strongly disagree.
Table 11 shows the frequency and percentage distribution of respondents
that foresee that E-wallet will be the most preferred platform in
business/personal transaction.
Table 11
Do you foresee that E-wallet will be the most preferred platform in
business/personal transactions?
Frequency Percentage
Yes 33 78.6
No 9 21.4
Total 42 100

Figure 12

The table and chart above represents that 33 or 78.6 percent of the
respondents are saying Yes “that foresee E-wallet to be the most
preferred platform in business/personal transaction” while 9 or 21.4
percent are saying No to the statement.
Table 12 shows the frequency and percentage distribution of respondents
who are willing to introduce E-wallet to their friend(s).
Table 12
Would you like to refer your friend to use E-wallet?
Frequency Percentage
Very Likely 19 45.2
Likely 17 40.5
Neutral 5 11.9
Unlikely 1 2.4
Total 42 100

Figure 13

The table and chart above shows that 19 or 45.2 percent of the
respondents are very likely to refer their friend to use E-wallet, 17 or
40.5 percent of the respondents are likely, 5 or 11.9 percent of the
respondents are neutral and 1 or 2.4 percent of the respondents are
unlikely.
 Chapter 5
Summary
E-wallet emerged during the pandemic. E-wallet is the
alternative of physical wallet. During the pandemic everyone is
advised to stay in their home. Through the help of E-wallet
everyone can still made a transaction online during the
pandemic. The main goal of this study is to investigate customer
satisfaction with various services provided by the different e-
wallets. The survey shows:
 31 out of 42 respondents are female.
 Almost all of respondents are students.
 Almost all of respondents are using e-wallet.
 Almost all of respondents are using GCash.
 Above half of the total number of respondents uses e-wallet
for money transfer, utility and bills payment and store
purchases.
 Most of respondents are only using e-wallet depending on
their needs.
 19 are very satisfied, 17 are satisfied, and 14 are neutral on
the services offered by e-wallet.
 Most of respondents have encountered any trouble while
using e-wallet.
 Unstable connectivity and security of mobile payment are
the common problem the respondents encountered.
 Almost all of the respondents strongly agree that
transactions made through e-wallet are secured.
  Almost all of respondents believed that e-wallet will be the
most preferable platform in doing transactions in the future.
 36 of the total respondents are willing to convince their
friend to use e-wallet.

Conclusion
The result of our study concludes almost everyone is adopting
the e-wallet. Users find it easy to use and hassle free. The survey
shows that most of the people are now paying bills, send money
and make transactions online by the use of e-wallet. Although
the users are satisfied on the services offered by e-wallet users
still worry about the security of their transactions and their
personal information. Survey also shows that unstable
connectivity can interrupt you from making transactions through
e-wallet. All in all e-wallet is a very good invention, it’s
convenient and easy to use. E-wallet still needs some changes or
improvements but still it’s a very good platform because it
makes everyone’s life easier.

Recommendations
Based on the findings and conclusion of the study, several
recommendations were made to be considered:

1. For consumers
A. Mobile payment should be embraced by costumers since we
are in advanced technology already.
B. Mobile payments should be in broad dimension in all food
and related industries so that consumers will embrace it.
C. As to costumers, start practicing using mobile payment to
avoid bringing cash.

2. For Merchants
A. Should provide advertisements on how to use mobile
payment so that people will be encouraged to use mobile
payment.
B.Restaurants and other food industries should enroll in mobile
payment transaction so that consumers will be enjoined to
use it.

3. For Future Researchers

This study is primarily focused users of e-wallet as their mobile
payment method, future researchers can add additional depth to
it by expanding the scale to include nationwide respondents. It
will be interesting to compare how past generations and current
generations adopted mobile payment technology.
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