TO STUDY UNIVERSITY STUDENTS’ PERCEPTIONS TOWARDS THEIR CASHLESS FINANCIAL TRANSACTIONS
Davies, Alice Elizabeth
Cardiff Metropolitan University
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This research focuses on the attitudes and perceptions of University students regarding cashless financial transactions. The aim of the research is to identify factors or driving forces behind the use of cashless financial transactions in order to gain an understanding of University students perceptions towards cashless payments. The use of secondary research was used in the literature review chapter of the study. The researcher also conducted primary research in the form of numerous focus group studies. The findings that emerged from the primary research proved that the preferred method of payment in society deemed to be card payment with the use of contactless payment, along with Apple Pay as a method of mobile payment. The study revealed the main reasoning for the specific preference of payment method was down to convenience, ease of use and the aspect of time saving. The findings showed the belief that mainly the younger generation use cashless payment methods due to the want to exploit the available opportunities of new and improved payment technologies. The conclusion of the study showed that cashless financial transactions were favoured due to the features associated. Additionally, the study showed that cash is more effective for personal budgeting due to the psychological attachment and increased value associated with it. The study concluded with the identification that cashless transactions would not be changed as a primary method due to routine and general convenience. The study concludes with the view that students’ attitudes and perceptions of cashless financial transactions are of a positive nature, as many advantages faced with the use of them is a contributing factor for reduced effort in their everyday lives. Alongside this the limitations faced with cashless transactions are not of major concern to influence the use of alternative payment methods.
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