Centro Escolar University

COLLEGE OF ACCOUNTANCY, MANAGEMENT

AND TECHNOLOGY

Good Day! We are fourth-year students of Centro Escolar University Malolos, taking up
Bachelor of Science in Accountancy and Management Accounting. We are undertaking a study
entitled, “Challenges and Opportunities of Mobile Payment in Small and Medium Business
Enterprises (SMEs) in Malolos City, Bulacan”. The purpose of this study is to investigate and
understand the challenges and opportunities of mobile payment in businesses of SMEs owners in
Malolos City, Bulacan.
It may only take 15 to 30 minutes of your time as you belong to the study’s target
respondents which are the small and medium business enterprises of food restaurants and coffee
shops who are using mobile payment in Malolos City, Bulacan. Your knowledge, concerns, and
responses will be highly appreciated and a sure help for us to achieve our research objectives.
Thank you very much!

This section of the questionnaire requires specific information about the company.
1. How many years has your business been in operation?
a. Less than 1 year
b. 1 to 2 years
c. 2 to 3 years
d. 3 years and above
1. Has your business adopted mobile payment for business transactions?
a. Yes
b. No
2. If yes, what are the mobile payment providers you are using? (Please check all that
apply).
a. Gcash
b. Maya (Paymaya)
c. Apple Pay
d. Google Pay
e. InstaPay
f. Others (Please specify):

3. How long has your business been using mobile payment?

a. Less than 6 months
b. 6 months to 1 year
c. 1 and half year to 2 years
d. More than 2 years
I. Challenges of Mobile Payment
Please specify the extent to which you agree or disagree with the following challenges
that you encounter while using mobile payment.
1 = Strongly Disagree, 2 = Disagree, 3 = Agree, 4 = Strongly Agree
4 3 2 1

Security Concerns

1. I am concerned about the possibility of

unauthorized access when using mobile
payment.

2. I'm concerned about data leaks, which

happen when private information is
exchanged without authorization.

3. I am concerned about third-party components

that are related to aspects of code that are
used to access an application that is obtained
from outside sources.

4. I am concerned about the possible malware

and viruses on our business’ mobile devices
that could risk our payment transactions.

5. I am concerned about mobile device theft,

potentially leading to unauthorized
transactions and account access.

Technical Concerns

1. I often experience failed transactions when

using mobile payment.

2. I encounter technical issues, such as glitches

or system downtimes, when using mobile
payment services for our business.

3. Technical concerns, such as slow processing

times, negatively impact the user experience
for our customers.

4. I find it challenging to address and resolve

technical issues promptly when they arise in
mobile payment transactions.

5. Our business faces difficulties in ensuring the

compatibility of mobile payment systems
 with various devices and platforms.

High Transaction Cost

1. The transaction fees associated with my

mobile payment are not reasonable.

2. I find that the financial burden of high

transaction costs negatively affects our
business profitability

3. The current transaction costs of mobile

payments create challenges in setting
competitive pricing for our products/services.

4. The perceived high transaction cost deters

potential customers from using mobile
payment services.

5. Managing and budgeting for the transactional

fees is difficult for our business.

Customer Awareness

1. Certain customers' lack of comprehension

regarding the mobile payment process
hinders the progress of my business.

2. Insufficient customer feedback mechanisms

on mobile payment experiences hinder my
SME’s ability to address issues promptly,
potentially affecting customer loyalty.

3. Some customers are hesitant to use mobile

payment methods due to a lack of awareness
about its benefits.

4. Customers do not use mobile payment due to

its complexity and difficulty to use.

5. Customer’s lack of trust hinders them from

using mobile payment methods.
II. Opportunities of Mobile Payment

Please specify the extent to which you agree or disagree with the following opportunities
that you encounter while using mobile payment.
1 = Strongly Disagree, 2 = Disagree, 3 = Agree, 4 = Strongly Agree

4 3 2 1

Increase Sales and Revenue

1. Mobile payment options have attracted new

customers to my business.

2. Mobile payment promotions and discounts

effectively drive sales for our business.

3. Our business has experienced an increase in

sales since implementing mobile payment
options.

4. Providing mobile payment choices in my

business improves customer satisfaction,
which in turn increases repeat business and
loyalty.

5. Quicker and more efficient transactions at the

point of sale lead to reduced wait times,
contributing to a potential increase in sales to
our business.

Competitive Advantage

1. The adoption of mobile payment has

positioned my business as technologically
advanced compared to others

2. Mobile payments enable our business to

reach new markets and expand our customer
base.

3. The ease of use and convenience of our

mobile payment services gives us a
competitive advantage

4. Mobile payment services provide unbanked

communities with access to financial
services, giving my business a socially
responsible benefit.
 5. Mobile payments help boost my client
engagement by providing unique deals,
announcements, and a more engaging
transaction experience.

Enhanced Customer Experience

1. My customers find the process of making

payments through mobile options easy and
user-friendly.

2. Mobile Payments are useful as a mode of

payment in my business.

3. My customers prefer mobile payments rather

than cash transactions.

4. My customers find mobile payments

time-saving.

5. Customer satisfaction and loyalty have

improved.

Improved Business Efficiency

1. Adopting mobile payment in my business has

reduced the time and resources required for
traditional payment processing.

2. When it comes to payment options, mobile

payment apps are safer than others.

3. Mobile payments reduce the expenses and

danger involved in handling cash.

4. The efficiency of mobile payment has

increased the sales of my business.

5. Mobile payment methods reduced errors in

the financial records and accounting
processes of our business.
III. Impact of Mobile Payment in Small and Medium Enterprises (SMEs)
Please rate the following indicators that has an impact in your business using mobile
payment on a scale from 1 = Negligible Impact, 2 = Minor Impact, 3 = Significant Impact, 4 =
Severe Impact
4 3 2 1

Business Growth

1. The adoption of mobile payment options has

positively contributed to the growth of our
business.

2. The integration of mobile payment has

expanded the customer base of my business.

3. Enabling mobile payment gives customers an

easy way to pay.

4. Mobile payments secure and lock credit card

details using device security.

5. Because of mobile payment, various payment

methods make transactions easier than
before.

Financial Sustainability

1. Mobile payments have improved the

financial health and long term sustainability
of our business.

2. Mobile payments have enhanced the

efficiency and streamlining of our business’
financial processes.

3. Mobile payment has significantly enhanced

our business’ cash flow management.

4. The capabilities for financial reporting and

analysis in my business have been improved
by integrating mobile payment services.

5. The adoption of mobile payments has

significantly enhanced our business’s
financial sustainability.