Feasibility of Cashless Transaction in Malaysia

This document explores the feasibility of cashless transactions in Malaysia and its impact on the economy. It discusses the benefits and challenges of adopting electronic payment systems and examines the role of technology readiness and innovation in the adoption process. The study focuses on retail businesses, end consumers, and e-payment technology service providers in Malaysia.

Running head: Feasibility of cashless transaction in Malaysia
Feasibility of cashless transaction in Malaysia
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1Feasibility of cashless transaction in Malaysia
Table of Contents
Chapter 1: Introduction....................................................................................................................2
Chapter 2: Literature Review...........................................................................................................7
Chapter 4: Data Analysis...............................................................................................................23
Chapter 5: Conclusion...................................................................................................................45
Chapter 6: References and Bibliography.......................................................................................49

2Feasibility of cashless transaction in Malaysia
Chapter 1: Introduction
Sustainable competitiveness has led to central concept associated to both developed and
developing Nations (Abbas, 2017). This feature competes for human capital and investment,
which are generally critical to the economic growth (Abrhám, 2014). National competitiveness
focused by countries are usually secured through global competitive rankings. These rankings
help to analyze their capability in order to attract investments, gross domestic product of the
nation and per capita income (Ajayi, 2014). In relation to develop financial scenario of the
nation, the significant factor will lead to enhance competitiveness of the country. Higher degree
of financial inclusion leads to have broader access to financial system, which boots the
employment creation, reduces income inequality, accelerating consumption of a nation and leads
to increase investment among human capital. The feature helps to reduce poverty and managing
risk by absorbing financial stocks (Akobundu, 2017).
Electronic Payment development assists to improve competitiveness in many ways.
Innovations in payment industry lead to higher financial inclusion, which help to facilitate
transactions into the financial system in absence of the banking accounts (Altinok, 2014).
According to World Bank, electronic payment is significant for economic development of the
nation. The opportunities related to digitalization payment offer unique opportunities, where it
indicates more customer expectation for value-added services. Increasing number of competition
for the emerging technologies, which appeared in the market, helped to set the landscape. These
global trends of the company appeared to affect Malaysian Digital Payment ecosystem while
aiding to the growth of digital payments (Aversa, Petrescu, Petrescu, & Apicella, 2016). The
emerging global trends focusing on cashless transactions are alternate payment channels for
example contactless and wearable gain acceptance. Banks and other institutions help to explore

3Feasibility of cashless transaction in Malaysia
ledger technology in order to transform cross- border expenses. Spontaneous payment processing
helps to sustain the “new normal” conception for corporate treasurers and large industry.
Widespread trend following towards globalized market extended the need for the countries,
which is required to be equipped with appropriate payment systems (Avula, 2017). The feature is
followed for promoting overall efficiency to entire country and assisting meaningful cost savings
related to the project (Balaji & Balaji, 2017). Efficient payment system helps the resources used
in manually or semi-automatically processes the payment structure and assists to lowering the
cost in either cash or cheque. These financial techniques insist to handle in intensive use of
electronic payment.
Numerous technological innovations are duly new in the market in relation to both
customers and business (Berti & Mulligan, 2016). This feature cause anxiety, which usually lack
adequate experience related to the consequence. The main categories of stakeholder such as
consumers, business and service providers consist of different levels of usage with certain
penetration rates applied for e-payment. Business, which are mainly reluctant to offer
technologies regarding the customers in improving payment process; the choices of customers
are carefully studied which depicts that electronic payment system is helpful to mitigate the
payment barriers (Bhawsar, P., & Chattopadhyay, 2015). It helps to achieve the economic
benefits, business, consumers and other stakeholders who can mitigate the electronic payment.
Electronic payment system helps to reduce the amount spend and amount of time, which is
wasted while standing in the queues in banks and post office. Hence, using electronic payment
helps to make fund transactions within a few minutes while wasting no time. E-payment allows
having an electronic wallet whereby all expenses and transactions history is logged in the
account. Hence, it is quite easy to control the function and managing expenses with relating the

4Feasibility of cashless transaction in Malaysia
e-payment system rather than outflowing cash when it do not possess any written record of the
expenses and income followed by the transactions occurred.
It helps reduce the risk of money which losses in cash transaction. Electronic wallets do
not make any additional charges for undergoing a payment. The process cost money in making to
get store on purchasing something. Paying through unattended payment platform initiates for
internet or mobile devices cost huge amount of money rather electronic payment system involves
much lesser cost involved in the process (Boons, Montalvo, Quist, & Wagner, 2013). The
process involves 1% charges of the total amount of fee in the selected operation considered.
Traditional payment methods including cash and cheque are not involved using at any time
whether it is day or night. Whereas in the context of electronic payment users can pay for goods
and services online with high speed within a few minutes by accessing the internet. Electronic
payment services makes appropriate customer services which tries to reach the widest possible
users in order to provide stronger user interface (Chaudhari, 2017). These services help to ask
question about issues which is faced from the support team. Customer support is active
throughout 24 hours and 7 days in a week and enhances to the users in answering all the doubts
as quick as possible. They refund in particular cases where the business houses would not worry
to pay something wrong.
Low spending on paper and postage has one of the advantages considering if electronic
payment system, which ensures to incur lower cost papers and it generates to lowers the cut of
trees (Claudia & Mihaela, 2013). More amount of payments are processed electronically the less
money and trees are spent on paper and storage. Cashless transactions offer certain number of
advantages to every client who are involved in supplying product or services. Increasing number
of sales, which is an alternative for traditional payment and it, is increasingly enhancing as the

5Feasibility of cashless transaction in Malaysia
preferred payment gate for customers when they are going for purchasing goods and services.
Electronic payment enables the business and popular brands to make sales to the customers who
are interested to deal with electronic payments while they are considering taking over those
clients who still involved in traditional payment schemes (Corrigan et al., 2014).
Research problems
Electronic payment considered an important component for the success of business and
financial services. The reason behind this concept lies on popularity and importance gained by
this feature comparing to traditional payment methods featuring to certain favorable
characteristics. The feature also involves security, reliability, scalability, anonymity,
acceptability, privacy and efficiency (Despotovic, Cvetanovic & Despotovic, 2016). For
instance, Bank of Malaysia stated that Malaysia is focused in considering large economic growth
and higher competitiveness, which migrates from paper based payment system to e-payment due
to latter, provides among other things with associating with opportunities to improve
productivity levels and lower the cost of undergoing with the business. Various problems relating
to the consequences specifies that developing economies such as Malaysia do not contain formal
bank account which is quite difficult to maintain the equality and it shoots economic growth of
these countries. Malaysia is usually cash based country and hence it would be quite difficult to
classify into a cashless nation. Expected growth associated of cashless transaction is only 9%.
However, countries like Japan and China are 12% and 27% respectively (Dima, Grabara &
Modrak, 2014). These figures depict that Malaysia will continue to rely heavily on cash and
other paper based instruments. Malaysia focuses on the strong vision in order to advance from a
developing to a developed nation.

6Feasibility of cashless transaction in Malaysia
Research objectives
There are certain factors, which influences e-payment adoption by various stakeholders in
Malaysia. Various research subjects include the stakeholder analysis, end customers, retail
business, e-payment service providers that help to develop and demonstrate significant elements,
which influence the adoption process. Research objectives consist of two functions: i) to predict
the adaptability and ii) to diagnose the reasons for non-acceptance and responding appropriately
in to improve the probability of acceptance by clients (Gujrati, 2017).
i) Examining the factors, which is considered to influence main electronic payments
stakeholders present in Malaysia for adopting the technology (Hogl, 2013). In order to achieve
this concept, electronic readiness model has been employed for retail business and technology
readiness index with technology acceptance model has been used for the end customers.
Identification of the challenges confronted by the technology service suppliers has been
identified appropriately (Gupta, 2017). In order to overcome the challenges reliable and efficient
e-payment infrastructure has been issued.
ii) To uncover the interconnection between the factors, which usually influence shareholder’s
adoption regarding e-payment by discussing their implications by making appropriate
recommendations for further development of technology.
Research Questions
In addressing the research objectives, following are the developed research questions:
1) What are the main factors which effort business houses and consumers in order to
adopt electronic payment?

7Feasibility of cashless transaction in Malaysia
2) What are the challenges do technology service providers faces while providing reliable and
efficient cashless payment infrastructure?
3) How do the identified contributing factors affect the business and clients after adoption of
cashless payment?
4) What are the implications of findings in focus to practitioners and policy makers?
Scopes relating to the study focuses on retail business, end consumers and e-payment
technology service provides in Malaysia (Jackson, 2015). The study is important in the context
of generating the views and perspectives of different stakeholders considered on e-payment
transactions followed in order to understand the issues and concerns involved in the electronic
payment option in the market. Involving stakeholders of e-payment feature will gently provide
relevant understanding on influencing the decision whether or not it is required to adopt the e-
payment system.
Chapter 2: Literature Review
In this section, it critically reviews existing literature on technological innovation,
technological readiness, technological acceptance among clients and technological adoption of
electronic payment in order to provide realistic context of the study (Jain & Jain, 2017).
Study on technological innovation
Innovation is the key to success for gaining competitive advantage in considering a
volatile and highly turbulent environment. However, the input of technological innovation into
economic growth can be realized when it is widely diffused and adopted particularly focusing
into the technological consideration. Adoption process had been studied from long time back, it

8Feasibility of cashless transaction in Malaysia
incurs values which is created by innovations are manifested into new things and new products,
processes which contribute to the wealth and competitiveness in the market (Khamitkhan et al.,
2018).
Firms who are associated with innovation often face many barriers considering both
internally and externally despite its known type of advantages. Contribution associated to
innovations of technology considering the economic growth can be incurred only when it is
adopted or diffused. Internal barriers associated involve rigid organizational structure
arrangements, classified and formal communication procedure, conservatism, conformity and
lack of vision, adoption to changes, lack of motivation and mainly the risk avoiding attitudes
incorporated within the organization (Krasnovа & Hromnytska, 2018). However, external
barriers include lack of infrastructure, lack of education and training systems. It also involves
inappropriate legislations. Diffusion of technology innovation is defined in accordance to the
innovation technology, which usually covers binding of electronic technology for information
regarding the business. It mainly uses compute-based systems and telecommunication
technologies in order to store, process and communicate to the end clients.
Technology readiness in Malaysia
Rapid rate of penetration throughout world which emphasized in dramatic advancement
of it usage in business and society, the feature also appeared with extensive interest in various
aspects of digital platform and electronic readiness. However, e-readiness appeared during the
late 1990’s looking in breadth and depth of digital divide segregating between the developing
and developed countries (Kumar, 2017). The concept of electronic payment grown during the
rise of internet withholding IT in business and industry, measurement of electronic readiness is

9Feasibility of cashless transaction in Malaysia
based on variety of indicators for example human capital, e-connectivity, business climate,
leadership and other sort of features involved in this stream.
This assessment implement wide array of measurement methods in order to diverse the goals,
approaches and results. Traditional measurements are involved over the past years, which are
usually focused on infrastructural areas, and recently the assessments are concerned into digital
equality and e-governance (Kumar et al., 2018). Electronic readiness assessment is divided into
two types of groups namely: Parties, which focuses on electronic economy and the other, is
emphasized on looking into wide role at the society. Computer systems policy project was the
first body, which constructed the electronic payment scheme focusing upon country level
assessments. The foundation believes that high-speed access in competitive market with constant
access and application of information and communication technologies been operated at schools,
colleges, business centers, health care facilities, communication technologies and many others.
Asia Pacific Economic Cooperation is mainly focused on evaluating the adaptability of e-
commerce and digital economy. The foundation is measured as the degree to which economy or
communal which is prepared in order to participate in digital platform economy. Diffusion
process is an innovation, which communicated through channels over time among time over the
members of social system. Aft it was discovered, the most popular innovation adoption model
which was adopted by the diffusion of innovation theory. This theory has been used in different
variety of research fields for example political science, public health, communications, history,
economics and education process (Lee,2018). This technology is divided into parts: hardware
and software. Hardware is the tool, which coherent the technology in the form of material and
object; however, software tool is considered as the container of information base utilized in the
business.

10Feasibility of cashless transaction in Malaysia
Innovation attributes resulted is relative advantage, capability, complexity, trainability
and observing of the technology. Relative advantage results as the degree to which an innovation
is perceived as much better than the idea, which is estimated. The greater amount of perceived
relative advantage of the proposal that is compared to the previous products whether in terms of
cost, reliability and ease of operations of the process. Capability of the degree to which
innovation is perceived in consistent with the existing values, past experiences, and needs of
potential adopters ((Krasnovа & Hromnytska, 2018). The more the capability of the innovation is
possible with considering the existing individual values and practices, greater is the possibility of
acceptance. Innovation has different types meanings associated in segregated contexts. Rapid
changes in social, technological, political changes lead to the main characteristics of innovation.
It is classified into three stages, such as product innovation, process innovation and
organizational innovation. Product innovation determines the new product, piece of equipment
and services that is successful to the market. Process innovation is the procedure, which usually
involves adaptation of developed or new manufacturing process. These features are not mutually
exclusive because this innovation leads to product innovation. This structure has the capability of
bringing innovation in the process (Kumar, 2017). Organization innovation has the capability to
lead into more effective use of human resources which are significant for successfully exploiting
ideas.
Theory based on electronic technology acceptance
The continuous and rapid rate of e-payment penetration throughout the globe resulted
with dramatic advancement based in business and society. This feature helped to create huge
interest through various aspects involved in the digital segregation and e-readiness. Different
organizations began to develop unified frameworks, which attributed to provide snapshots upon

11Feasibility of cashless transaction in Malaysia
how vigorously a community, region and the nation could incur various numbers of indicators
namely, e-connectivity, human capital, business climate, leadership and many other sources
involved in it. The feature involves adopting widely by varying the definitions by using it from
different methods applied for measurements the goals. Most of the assessments are based on
statistical studies as well as questionnaires, country case studies, interviews and summary
evaluations based upon economic growth for business opportunities (Kumari & Khanna, 2017).
However, traditional measurements undertaken throughout the previous years are focused upon
proper infrastructural access. These assessments are concerned with appropriate dimensions
leading to electronic payments and inequality.
Variables based upon e-readiness assessment are basic enabling indicators, e-education,
infrastructure and access, e-business, e-government, access to and use of ICT by households and
individuals. The variables, which are used in the process, are useful to measure each and every
units involved in it. However, indicators used for the e-business variable include percentage of
business with computers, amount of business with broadband internet access and proportion of
business with web presence. The infrastructure and access variable which is focused upon
indicators such as main lines of telephone per 100 inhabitants cellular mobile subscribers per 100
inhabitants.
Study on technological adoption by consumers
The following are the studies on customer adaptation on cashless transaction. TAM is one
of the most preferable models in information science, which has been applied to different
technologies under certain situations with referring to different types of control factors and
different subjects. The first upsurge of TAM studies had been employed a model in order to test

12Feasibility of cashless transaction in Malaysia
different sort of understandings (Kumar, 2017). Communication systems which mainly includes
email, v-mail, fax and dial up systems. These are technologies, which clients are interested to
satisfy their needs. It helps to research on the objective attribute. General purpose on the system,
which involves Microsoft windows, personal computers, microcomputers, computer facilities
and other technologies, involved in it. Various reasons, which helped the feature to upsurge in
the market, as they are incredibly secure; it might have worried about getting the money owed by
common people. Online transactions in certain application would not be required to show
customer’s bank account information to any of the clients. The tool is completely encrypted
while keeping them heavily guarded while not allowing any online theft to occur. Clients will not
have any problem while receiving or sending money to other accounts. The application offers
higher customer service so that it can reduce the degree of fraud and after sale services are
pleasing the consumers. The transactions can occur anytime in the day and it can be done in
wildest stream.
It helps to set up automatic payments to the credit card by giving the customers an
additional number of days to get everything paid successfully. The overdraft fees helps to add up
the combination quickly when the amount of money withdrawn from the account. It is not
always surprising while it might have trouble while paying defines that all the vendors and
suppliers during the same time (Hogl, 2013). Hence, e-payment made quite easier to indulge in
the process. Study on payment technology adoption is focused on transferring of funds for goods
and services. It generally initiates a payment transaction by handing over the money is
considered as the last chain program for purchasing those products. Electronic payment is a type
of process, which undergoes electronically by using the technology that is available for online
purchase or transactions. The concept of payment is utterly diverse as its study range from

13Feasibility of cashless transaction in Malaysia
general equilibrium model of payment instructions to practical feature on determining how it is
best to regulate the payment gate. There are several concepts involved in the process, which
defines that trade-off between cash and other assets as alternative issue of payment. One problem
in relation to why cash with positive opportunity cost, it is continued for using transactions while
other assets earn positive return from the commodity. Demand related for money and implication
of substitution situated among different current payment media cash, which includes credit card,
debit card. It also consists of asset holdings, which is focused on money supply measurement and
implementation of monetary policy. The last issue is highlighted on risk of settlement failure
based on higher value fund transfer networks; this feature is referred as systematic risk issue. It
generates a moral threat based on government safety in accordance to the banking system. The
limited amount of studies based upon both supply and demand sides of payment instruments.
Proprietary data on discovering consumer payment behavior analyze how surcharging policies
and rewards program influence payment preference of consumers. The effect of consumer
demographic features on the usage of electronic payment instruments. The feedback of the
instrument is highlighted by undergoing a survey to the customers on electronic payment system.
According to the survey, payments made by the customers are paid by credit card, which gently
allowed the shoppers to spend more amount of money than others. Using of credit Cards by the
shoppers affected budget consciousness and their reactions according to the selected event
related to purchasing behavior. Focusing on the relation in accordance to the trial based on wide
scale basis, which failed in the market.
Determinants are based on the consumers by using the payment cards and establish
correlation between consumer usage and merchant acceptance while applying two significant
theories. The couple of theories include two-side market and network effect theories. According

14Feasibility of cashless transaction in Malaysia
to the survey, customers are focused in spending on single payment network, named as single
homing. However, maintaining unused cards allows them to help in using multiple networks,
which is defined as multi-homing. In understanding the payment patterns and demand of the
customers who uses debit cards and how the customers are respond in according to price
changing.
Customers are found to be price sensitive while making payments during the time of sale.
The effect of payment card mainly rewards on the customer’s choice of payment methods
(Akobundu,2017). This feature focuses on perceptions related to the client, which is based upon
eleven types of attributes; namely comfortable, fast, convenience, user friendly, preferable by
business stores. This feature also helps in helps in preparing budget for small amounts, which
aids the process to get refund very easily.
Studies based on consumers and merchants payment behavior, preference and
perceptions lead to analysis of the study, which affects socio demographic characteristics of
individual customers. Adopting the payment instruments and evaluating the figures relating to
the adoption rate. These studies involve detailed information for exploring the customer payment
attitude and then assessing the advantage upon new technology implemented in the market.
However, e-payment technology is a part of e-commerce section and it is the most significant
section for ensuring the success of implementation in e-commerce. It is applied because without
electronic payment e-commerce business would not be able to develop online transactions.
Hence, the nation has resulted to decrease in cash usage and decreased in card system. Smart
card slowly began to gain familiarity and started getting attraction in the market (Chaudhari,
2017). Most of the countries try to migrate from cash, cheque payment system into cashless
payment structure. This effort is mainly instrumented as because cash and cheques are becoming

15Feasibility of cashless transaction in Malaysia
cumbersome and unsecure in order to carry out in large number of amounts and these features
are not always available during the point of necessity.
The enormous benefits relating to the concept of cashless payment leads to merchants
and consumers, considering recent time framework e-payment has expanded rapidly. Despite the
higher cost applied comparing to the cash payment functions, credit card networks tends to hold
the market power and the merchants enhanced long term benefits in order to accept credit cards
which is mainly derived from none of the processing cost and network team. Cost saving purpose
of the feature involves payment services which eventually $900 million every year respectively.
However, it also represents around 25% to 30% consisting of the total revenues of the bank. It
usually consists of 5% of the average purchases of the customer (Nerkar, 2016). The total cost
reflected on overall expenses of the nation result to 3% of the total GDP. Several expenses goes
to the government by issuing currency, e-payment transaction between one-third and one-half of
paper based transaction where the country save their substantial savings in terms of social cost.
Earlier if countries would have decided to shift from paper-based currency into cashless
currency then overall cost of banks could have saved for 0.6% of its GDP (Odumeru, 2013).
Agenda of e-payment in Malaysia highlights upon achieving the widespread adoption of e-
payment in the financial sector. For accelerating the cashless business adoption, the government
has discussed to consider three steps such as i) implementing conducive structure ii) enhancing
e-payment infrastructure iii) promoting better awareness of electronic benefits. The first step is
focused upon introducing the pricing reform framework in order to aligning the price by using
the instruments. It is also considered with actual cost for producing and processing the payment
tools. Phase 1 of the reform consider to implement below-cost pricing on selected e-payment
services and in phase 2 it is being focused to involve adjusting techniques on the pricing of

16Feasibility of cashless transaction in Malaysia
cheques and in the last phase it is being discussed on the basis of payment services on actual cost
of production and processing it in the market scenario. The improving related to the access of
internet is fundamental to the success of encouraging online payment. In order to develop
cashless payment structure, the broadband connection increased the penetration rate up to 65%.
Communication bandwidth in this factor increased to 256kbps. Broadband is expected to develop
furthermore includes 80% to the populated region in Kuala Lumpur and includes 30% of seven
state capitals with focusing a minimum amount of target appointing speed of 2Mbps (Okoye &
Ezejiofor, 2013).
The government planned to undergo with food and beverages outlets, waiting areas,
lobbies and maintaining other public meeting places are focused to develop in order to extend the
reach of EPP. The wireless tools are implemented in villages for developing and establishing a
center of computer facilities, which will help to promote the concept effectively.
E-transaction in Malaysia is significantly dependent on the factor of basic wire and
wireless communication connectivity and broadband exposure zones which is covered by
supporting industries. The penetration rate of broadband signifies 66% throughout the nation;
however, the fixed line penetration reduced to 34.4%. E-payment is defined as the sum which is
initiated, processed and which is received electronically (Ozturk, 2016). The feature is also
described as the transfer of electronic worth of sum from a payer to a payee through cashless
mechanism. However, there are three types of electronic payment present in the system; retail e-
payment, corporate e-payment, wholesale e-payment. Payments occurring between private
households, non-financial corporations, government agencies are considered as retail e-
payment. Corporate e-payment defines payment transactions for goods services between
corporate entities and business firms. Business to business entities, bank-to-bank business,

17Feasibility of cashless transaction in Malaysia
government to bank business, government-to-government trade are all recalled as corporate e-
payment. Wholesale payment signifies expenses between banks and central banks. This
payment has a habit of considering high values and they are usually time critical which
considerably focused on a specific day.

18Feasibility of cashless transaction in Malaysia
Chapter 3: Research Methodology
3.1 Research Onion
Figure 3.1: Research Onion
(Source: Saunders et al. 2007)
The research onion mainly points out the descriptive state of the research topic through
which the researcher is required to follow for an effective methodology. The philosophy of the
research is to be highlighted where it requires the overall philosophy of the research along with
certain strategy that are to be included in the research. The following step is the research
approach and it points out the source by which the approaches would be made for the research
and those have to be initiated within the research. Design of the research is also to be discussed
and identifies the process through which the design has been made for the research along with
pointing out the significance. The process of data collection generally points out the methods or

19Feasibility of cashless transaction in Malaysia
ways through which the data have been collected. Sampling method and sampling size points out
the overall size of the sample through which the data have been collected for any primary
research. Moreover, the ethical consideration highlights the ethics that have been followed for
collection of data which are used for the research.
3.2 Research Philosophy
The process through which the useful data has been collected and analysed for the
benefits of the study. Epistemology mainly oppose to doxology for encompasses different kinds
of philosophy and the research. This particular research is based on positivism which means that
the research provides the positive knowledge about the cashless transaction in Malaysia.
Positivism mainly holds the valid knowledge about the research which provides the reader a
better knowledge about the issues that have been raised in the study. The natural phenomenon
highlights the properties and relations which highlights the ways through which the analysis is
used to be conducted along with creation of ideas which would be beneficial for the research.
The research deals with the feasibility of the cashless transaction which provides certain benefits
to the customers in their daily transaction (Preethi, 2018). The research would summarise the
research experience and their interest along with future endeavours of the research. The
philosophy of this particular research is deductive in nature which points out the effective
techniques that are required to be included with the research study.
3.3 Research Approach
It is the plan and procedure that are required to be used in the research which points out
the major assumptions of the study. It also highlights the procedure that help the research for
certain broad assumptions and analysis of the methods that are required to be followed

20Feasibility of cashless transaction in Malaysia
throughout the research. The detailed process of method of data collection is to be associated
with analysis and those are to be pointed by the interpretation of the results of research (Ramya,
Sivasakthi & Nandhini, 2017). The problem of the research is to be addressed and the approach
of the data is also to be pointed with the overall research. In this particular research, the
assumptions that are made points out the effective analysis of the data that are being collected for
the study.
3.4 Research Design
The design of this particular research mainly integrates the different types of results
which are to be associated with the research. Integrating of different components in a coherent
way and in a logical way is to be associated with the study by the researcher. The problems that
are associated with the research is also to be identified in this part and those are to be included
with certain process. The research design mainly points out the copy or the blue print of
collection along with the measures and those are also to be analyzed with the data that have been
collected (Roper, Iddings, & Paulsen, 2015). Different types of research design are present in the
study which points out the effective design for researching about the feasibility of cashless
transaction by the customers. Exploratory research design, Experimental research design and
descriptive research design are there three main type of research design which are widely used
and available to any researcher. The researcher that have conducted the research paper mainly
investigates the feasibility of cashless transaction in Malaysia. The experimental design for the
research would be relevant for the study as it consists of the effects of particular situation along
with the variable which are to be included with the research.
3.5 Data Collection process

21Feasibility of cashless transaction in Malaysia
Data collection process of the method through which the suitable data are gathered and
measured along with the variable of interest. The systematic process which enables the
researcher to answer the research questions along with the test hypothesis and evaluation of
outcomes. The information that have been collected for the study is from primary sources which
means 50 respondents have been questioned for certain aspects and they have answered with
respect to the questions. Some of the respondents in the research also belong to some of the
financial sector of Malaysia. Questionnaire have been developed through which the data would
be extracted and mainly consist of close ended question that has been asked to the respondents.
The issues and opportunities is required to be identified for collection of data along with setting
the goals for overall process of collection of data. Planning is required to be done for the
approaches and methods for better analysis of the results along with analyzing and interpreting
the data that have been collected from the respondents (Severson & Stark, 2017). At last, the act
on the results is to be included with the question that has been asked to the respondents.
3.6 Sampling method and sample size
Sampling method is the way by which the sample are being gathered for the research and
the size of the sample is also to be included with the research. In this particular research, random
sampling has been chosen where every member of the population has an equal opportunity for
answering the questions. In this particular research, 50 random respondents have been chosen
who would answer the question that have been asked in the questionnaire. 50 participants that
have been chosen for the research is the sample size of the research and have to be associated
with this sampling method.
3.7 Ethical consideration

22Feasibility of cashless transaction in Malaysia
It is one of the important part of the research which have to be followed in a particular
way and have to be considered throughout the study. All the respondents that have been included
in the research are not forced for collecting the information (Shendge et al., 2017). All the data
that have been collected from the respondents are as per their will and no one of them are forced
to do so. The data that have been collected are kept in a secure place along with assisting from
Data Protection Act. All primary data have been collected in an ethical way along with
considering their value for the research.
3.8 Summary
This particular chapter points out the research methodology which highlights the methods
that have been considered for the research. This particular research is based on positivism which
means that the research provides the positive knowledge about the cashless transaction in
Malaysia (Sharma & Agarwal, 2018). The detailed process of method of data collection is to be
associated with analysis and those are to be pointed by the interpretation of the results of
research. The research design mainly points out the copy or the blue print of collection along
with the measures and those are also to be analyzed with the data that have been collected. The
information that have been collected for the study is from primary sources which means 50
respondents have been questioned for certain aspects and they have answered with respect to the
questions. In this particular research, random sampling has been chosen where every member of
the population has an equal opportunity for answering the questions. All ethics have been
followed for the research in their respective way.

23Feasibility of cashless transaction in Malaysia
Chapter 4: Data Analysis
Gender Cashless
transaction saves
the precious time
of customers
Cashless
transaction
reduces crime
Production cost
are reduced in
cashless
transaction
comparing to
coins
Government can
use the incoming
data from
cashless
transactions to
progress and
analyzing the
policies
N
Valid 50 50 50 50 50
Missing 0 0 0 0 0
Statistics
Electronic
Payment means
less privacy
Hackers are the
bag-snatchers of
cashless
transactions
Technological
glitches are the
main concern in
cashless
transaction
Cashless
transaction helps
to make
international
payments
Cashless
transaction helps
to make
international
payments
N
Valid 50 50 50 50 50
Missing 0 0 0 0 0

24Feasibility of cashless transaction in Malaysia
Table 1 Frequency table of different variable
The table 1 provides the number of frequency of the different variable. Moreover it also
shows is there any missing observation. The different variable variables in this study are gender,
Cashless transaction saves the precious time of customers, Cashless transaction reduces crime,
Production cost are reduced in cashless transaction comparing to coins, Government can use the
incoming data from cashless transactions to progress and analysing the policies, Electronic
Payment means less privacy, Hackers are the bag-snatchers of cashless transactions,
Technological glitches are the main concern in cashless transaction, Cashless transaction helps to
make international payments and Cashless transaction helps to make international payments. It
has been seen that the total number of observations in each variable is 50 and there is no missing
observations in this table.
Age
N
Valid 50
Missing 0
Table 2 Frequency of Age
The table 2 of frequency of age has been showed that the number of observation in the
age variable is 50 and there is no missing observation in the age variable.

25Feasibility of cashless transaction in Malaysia
Gender
Frequency Percent Valid Percent Cumulative
Percent
Valid
Female 14 28.0 28.0 28.0
Male 36 72.0 72.0 100.0
Total 50 100.0 100.0
Table 3 Frequency table for Gender
The table 3 has been showed the frequency table for gender. It has been seen that the
number of male observations in this study 36 and the female is 14. Hence the number of female
observations are smaller than the male. The percentage of male observations is 72 and the female
is 28. More over there is no missing observations in the gender frequency table.
Cashless transaction saves the precious time of customers
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly Agree 22 44.0 44.0 44.0
Agree 20 40.0 40.0 84.0
Neutral 6 12.0 12.0 96.0
Disagree 2 4.0 4.0 100.0
Total 50 100.0 100.0

26Feasibility of cashless transaction in Malaysia
Table 4 Cashless transaction saves the precious time of customers
The table 4 has been showed that the Cashless transaction saves the precious time of
customers. It has been seen that the 44% of the customers are strongly agree the Cashless
transaction saves on the precious time of customers. There is a 4% difference between the
strongly agree and agree. The percentage of neutral customer Cashless transaction saves the
precious time is 12%. It is good to see that the very of the customers are disagree. That is the
number of percentage in disagree category is 4%.
Cashless transaction reduces crime
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly Agree 11 22.0 22.0 22.0
Agree 22 44.0 44.0 66.0
Neutral 12 24.0 24.0 90.0
Disagree 5 10.0 10.0 100.0
Total 50 100.0 100.0
Table 4 Cashless transaction reduces crime
The table 4 has been showed the Cashless transaction of reduces crime. It has been
observed from the table 4 that the 44% of the customers are Cashless transaction of reduces
crime. There are half of the agree customers are strongly agree, that is the percentage of strongly
agree customer on the Cashless transaction of reduces crime is 22%. The frequency of neutral

27Feasibility of cashless transaction in Malaysia
category is more than one as compared to strongly agree category. It is good to see the very few
percentage of customers has been fallen in the disagree category. Moreover there is no missing
observation in the in the Cashless transaction of reduces crime.
Production cost are reduced in cashless transaction comparing to coins
Frequency Percent Valid Percent Cumulative Percent
Valid
Strongly Agree 13 26.0 26.0 26.0
Agree 26 52.0 52.0 78.0
Neutral 7 14.0 14.0 92.0
Disagree 4 8.0 8.0 100.0
Total 50 100.0 100.0
Table 4 Production cost are reduced in cashless transaction comparing to coins
The table 4 has been showed the production cost are reduced in cashless transaction
comparing to coins. From this table it is clear that the highest percentage of customers are agree.
That the 52% of the customers are agree with the production cost are reduced in cashless
transaction comparing to coins. There are half of the agree customers are strongly agree. It is also
has been seen that the 14% of the customers are neutral. Moreover a very few customers are
disagree with the production cost are reduced in cashless transaction comparing to coins. Hence
there are 8% of the customers are disagree with this opinion.
Government can use the incoming data from cashless transactions to progress and analyzing the
policies

28Feasibility of cashless transaction in Malaysia
Frequency Percent Valid Percent Cumulative Percent
Valid
Strongly Agree 10 20.0 20.0 20.0
Agree 28 56.0 56.0 76.0
Neutral 8 16.0 16.0 92.0
Disagree 4 8.0 8.0 100.0
Total 50 100.0 100.0
Table 5 Government can use the incoming data from cashless transactions to
progress and analyse the policies
The table 5 has been shown that the government can use the incoming data from cashless
transaction to progress and analyze the policies. It has been seen that the highest percentage of
the customers are agree with the government can use the incoming data from cashless transaction
to progress and analyze the policies. There are 20% of the customers are strongly disagree. The
percentage of customers in the neutral section is 16%. However there are half of the customers
are disagree with the government can use the incoming data from cashless transaction to progress
and analyze the policies. Hence the percentage of customers in disagree section is 8%. There is
no missing data in this section. Therefore 100% of the data are valid.

29Feasibility of cashless transaction in Malaysia
Electronic Payment means less privacy
Frequency Percent Valid Percent Cumulative Percent
Valid
Strongly Agree 11 22.0 22.0 22.0
Agree 27 54.0 54.0 76.0
Neutral 7 14.0 14.0 90.0
Disagree 4 8.0 8.0 98.0
Strongly Disagree 1 2.0 2.0 100.0
Total 50 100.0 100.0
Table 6 Electronic Payment means less privacy
The above table 6 has been shown that the electronic payment means less privacy. This
variable can be divided in to 5 categories. It is a likert scale data. There are maximum percentage
of customers are agree with the electronic payment means less privacy. Hence the 54 percentage
of the customers has been fallen in the agree categories. There are 22% of the customers of the
customers are strongly agree with the electronic payment means less privacy. Similarly in the
neutral category the percentage of customers is 14%. The number of customers in the disagree
categories is less than 6% of the neutral category. It is good to see that a very few customers are
strongly disagree. Therefore the number of customers in the strongly disagree categories is 2%.
There are no missing data in this factor. Hence the 100% of the data sheet are valid.

30Feasibility of cashless transaction in Malaysia
Hackers are the bag-snatchers of cashless transactions
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly Agree 20 40.0 40.0 40.0
Agree 19 38.0 38.0 78.0
Neutral 7 14.0 14.0 92.0
Disagree 3 6.0 6.0 98.0
Strongly Disagree 1 2.0 2.0 100.0
Total 50 100.0 100.0
Table 7 Hackers are the bag- snatchers of cashless transactions
The above table 7 has been shown the hackers are the bag- snatchers of cashless
transactions. It has been observed from the table that the factor hackers are the bag- snatchers of
cashless transactions can be divided in to five categories. The different categories of this factor
or variable are strongly agree, agree, neutral, disagree and strongly disagree. It has been seen that
the maximum percentage of the customers are strongly agree with the hackers are the bag-
snatchers of cashless transactions. Hence the 40% of the customers are strongly agree. The
percentage of customers in the agree categories is less than 2% of the agree category. Similarly
the percentage of customers in the neutral category is 14%. Moreover the percentage of
customers in disagree category is 6%. It is good to see that a very few of the customers has been
fallen in the strongly disagree category. Hence there are 2% of the customers are strongly

31Feasibility of cashless transaction in Malaysia
disagree. There are no missing observation in this variable. Hence the 100% of the data sheet are
valid.
Technological glitches are the main concern in cashless transaction
Frequency Percent Valid Percent Cumulative Percent
Valid
Strongly Agree 14 28.0 28.0 28.0
Agree 31 62.0 62.0 90.0
Neutral 1 2.0 2.0 92.0
Disagree 3 6.0 6.0 98.0
Strongly Disagree 1 2.0 2.0 100.0
Total 50 100.0 100.0
Table 8 Technological glitches are the main concern cashless transaction
The table 8 has been shown that the technological glitches are main concern cashless
transaction. It has been observed from the table that the technological glitches are the main
concern cashless transaction can be divided in to five categories. The different categories of this
factor or variable are strongly agree, agree, neutral, disagree and strongly disagree. It has been
seen that the maximum percentage of the customers are agree with the technological glitches are
main concern cashless transaction. Hence the 62% of the customers are strongly agree. There are
28% of the customers are strongly agree. Similarly the percentage of customers in disagree
category is 6%. Moreover the equal percentage of customers has been fallen in the neutral and
strongly disagree category. Hence the percentage of customers in the neutral and strongly

32Feasibility of cashless transaction in Malaysia
disagree category is 2%. There are no missing observation in this variable. Hence the 100% of
the data sheet are valid.
Cashless transaction helps to make international payments
Frequency Percent Valid Percent Cumulative Percent
Valid
Strongly Agree 11 22.0 22.0 22.0
Agree 28 56.0 56.0 78.0
Neutral 9 18.0 18.0 96.0
Strongly Disagree 2 4.0 4.0 100.0
Total 50 100.0 100.0
Table 9 Cashless transaction helps to make international payments
The above table 9 has been shown that the cashless transaction helps to make
international payments. It has been observed from the table 9 of the cashless transaction helps to
make international payments can be divided in to four categories. The different categories of this
factor or variable are strongly agree, agree, neutral and strongly disagree. It has been seen that
the maximum percentage of the customers are agree with the cashless transaction helps to make
international payments. Hence the 56% of the customers are agree. The percentage of customers
in the strongly agree category is 22%. Similarly the percentage of customers in the neutral
category is less than four percent of the strongly agree category. It is good to see that a very few
of the customers are strongly disagree. Hence there are four percent of the customers has been

33Feasibility of cashless transaction in Malaysia
fallen in the strongly disagree category. There are no missing observation in this variable. Hence
the 100% of the data sheet are valid.
Age
Frequency Percent Valid Percent Cumulative Percent
Valid
18-25 36 72.0 72.0 72.0
26-32 7 14.0 14.0 86.0
33-40 3 6.0 6.0 92.0
40-47 3 6.0 6.0 98.0
48-54 1 2.0 2.0 100.0
Total 50 100.0 100.0
Table 10 Different Age Group of the Customers
The table 10 has been shown that the different age group and the frequency of the
customers. The maximum percentage of people has been fallen in the 18-35 age group. Hence
the percentage of customers in 18-35 age group is 72%. Similarly the percentage of customers in
the 26-32 age group is 14%. It has been seen that the equal percentage of customers has been
fallen in the 33-40 and 40-47. Therefore there are six percent of customers has been fallen in this
age group. There is a very few percentage of customers has been fallen in the 48-54 age group.
Hence the 2% of the customers has been fallen in the 48-54 age group. There are no missing
observation in this variable. Hence the 100% of the data sheet are valid.

34Feasibility of cashless transaction in Malaysia
Statistics
Mean Std. Deviation
Cashless transaction saves the precious time of customers 1.76 .822
Cashless transaction reduces crime 2.22 .910
Production cost are reduced in cashless transaction
comparing to coins
2.04 .856
Government can use the incoming data from cashless
transactions to progress and analyzing the policies
2.12 .824
Electronic Payment means less privacy 2.14 .926
Hackers are the bag-snatchers of cashless transactions 1.92 .986
Technological glitches are the main concern in cashless
transaction
1.92 .853
Cashless transaction helps to make international payments 2.08 .877
Cashless transaction helps to make international payments 1.98 .892
Table 11 Mean and Standard deviation of all the variables
The Table 11 shows the mean and standard deviation of all the variables under study. It
has been seen that Cashless transaction reduces crime has the highest mean that is 2.22 and the
Cashless transaction saves the precious time of customers has the lowest standard deviation.

35Feasibility of cashless transaction in Malaysia
Figure 1Bar Diagram of the Different Age Group
The figure 1 has been shown that the bar diagram of different age group. In this bar
graph X- axis shows the different age of the customers and in the Y- axis shows the frequency of
the customers. It has been observed that the highest number of observations has been fallen in
the 18-25 age group. Moreover a very number of customers has been fallen in the 48-54 age
group. The bar graph has been looked like a skeweed to the right. The frequency of the
customers in the age group 33-40 and 40-47 is same. In the five age group categories there are
four age group has been fallen in the less than ten frequency.

36Feasibility of cashless transaction in Malaysia
Figure 2 Bar Diagram of Gender
The figure 2 has been shown that the bar diagram of the gender. In this figure X- axis
represent the gender of the customer and I the Y –axis represent the frequency. It has been seen
that the most of the customers are male. The frequency of the female customers has been fallen
in the 10-20. Similarly the frequency of the male customers has been fallen in the 30-40. The bar
graph has been looked like skewed to the right.

37Feasibility of cashless transaction in Malaysia
Figure 3 Bar Graph of the Cashless Transaction Saves the Precious Time of
Customers
The figure 3 has been shown that the bar graph of the cashless transaction saves the
precious time of customers. In this figure X- axis represent the different category of the cashless
transaction saves the precious time of customers and in the Y- axis represent the frequency. It
has been seen that the maximum frequency of the customers has been fallen in the strongly agree
category. The frequency of the customers in the agree category lies 15-20. Similarly the
frequency of the customers in the neutral category is greater than five. Moreover less of the
customer has been fallen in the disagree category. That is the frequency of customers in disagree
category is less than 5. The bar graph has been looked like skewed to the right. It is clear from
the figure that the most of the category has been fallen in the highest frequency.

38Feasibility of cashless transaction in Malaysia
Figure 4 Bar graph of cashless transaction Reduces Crime
The figure 4 has been shown that the bar graph of cashless transaction reduces crime. In
this figure X- axis represent the different category of cashless transaction reduces crime and in
the Y- axis represent the frequency. It has been seen that the most of the customers has been
fallen in the agree category. The frequency of the customers in the strongly agree category is less
than 15 and more than 10. Similarly the frequency of the customers in the neutral category is
more than 10 and less than 15. There is a very few of the customers has been fallen in the
disagree category. Hence the frequency of the customers in disagree category is approximately

39Feasibility of cashless transaction in Malaysia
five. The bar graph of cashless transaction reduces crime has been looked like symmetric and
normal. Because in the different category the customers has been fallen symmetrically.
Figure 5 Bar graph of production cost are reduced in cashless transaction comparing to
coins
The figure 5 has been shown that the production cost are reduced in cashless transaction
comparing coins. In this figure in the X- axis shows the different category of the production cost
are reduced in cashless transaction comparing coins and in the Y- axis shows the frequency. It
has been seen that the most of the customers has been fallen in the agree category. Therefore the
number of frequency in the agree category is more than 20 and less than 30. Similarly the
frequency of the customers in the strongly agree category is more 10 and less than 20. Moreover
both the number of frequency in the neutral and disagree category is less than 10. The bar graph

40Feasibility of cashless transaction in Malaysia
has been looked like symmetric or normal. Because in the different category the customers has
been fallen symmetrically.
Figure 6 Bar graph of the Government can use the incoming data from cashless
transactions to progress and analysing the policies
The figure 6 has been shown that the bar graph of government can use the incoming data
from cashless transactions to progress and analyze the policies. In this figure in the X- axis
represent the different category of the government can use the incoming data from cashless
transactions to progress and analyze the policies and in the Y- axis represent the frequency. It has
been seen that the most the customer has been fallen in the agree category. Hence more than 25
and less than 30 of the customers has been fallen in the agree category. The frequency of the
customers in the strongly agree category is approximately 10. Moreover in the neutral and
disagree category the frequency of the customers has been fallen less than 10. The bar graph has

41Feasibility of cashless transaction in Malaysia
been looked like symmetric and normal. Because in all the category the frequency of the
customers has been fallen symmetrically.
Figure 7 Bar graph of the Electronic Payment Means less privacy
The figure 7 has been shown that the bar graph of the electronic payment. In this figure in
the X- axis shows the electronic payment and in the Y- axis shows the frequency. Most of the
customers has been fallen in the agree category and a very few of the customers has been fallen
in the strongly disagree category.

42Feasibility of cashless transaction in Malaysia
Figure 8 Bar graph of Hackers are the bag- snatchers of cashless transactions
The figure 8 has been shown that the bar graph of the hackers are bag- snatchers of
cashless transactions. In this figure in the X- axis shows the different category of the hackers are
bag- snatchers of cashless transactions and in the Y- axis shows the frequency. It has been seen
that the most of the frequency has been fallen in the strongly agree category.

43Feasibility of cashless transaction in Malaysia
Figure 9 Bar graph of the Cashless transaction helps to make international payments
The figure 9 has been shown that the Cashless transaction helps to make international
payments. In the X- axis shows the different category of the Cashless transaction helps to make
international payments and in the Y- axis shows the frequency. The maximum frequency of the
customers has been fallen I the agree category.

44Feasibility of cashless transaction in Malaysia
Figure 10 Bar graph of Technological glitches are the main concern in cashless transaction
The figure 10 has been shown that the bar graph of the Technological glitches are the
main concern in cashless transaction. In the X- axis shows the different category of the
Technological glitches are the main concern in cashless transaction and in the Y- axis shows the
frequency. The maximum frequency of the customers has been fallen in the agree category.

45Feasibility of cashless transaction in Malaysia
Chapter 5: Conclusion
In last few years many companies has put their emphasis on the sustainable development.
In recent researches, the sustainable competitiveness has made the concept beyond the
sustainable development. The main idea of sustainable competiveness is to provide the model
that could balance the economic prosperity, environmental issues and social sustainability.
Shaping the sustainability means to adjust the global competiveness index into two dimension
which is environmental and social. Both microeconomic and macroeconomic helps to identify
the most important factors that will affect the sustainable competiveness and to analyze the
sustainable competiveness of all European countries. Sustainable competiveness model is
developed with the view that shapes the current and the future of the nation economy. It is based
on a competitive model that incorporate all relevant pillar of the sustained growth and wealth
creation of the nation by having the natural capital availability, resources efficiency, social
cohesion, government development direction, innovation and business capacity. This index
integrates data trends that allows for better expression of the future growth. This index also
competes for human capital and investment, which are generally critical to the economic growth.
National competitiveness focused by countries is usually secured through global competitive
rankings. Rankings help to analyze their capability in order to attract investments, gross domestic
product of the nation and per capita income. Technological innovations are duly new in the
market in relation to both customers and business. This feature cause anxiety, which usually lack
adequate experience related to the consequence. The main categories of stakeholder such as
consumers, business and service providers consist of different levels of usage with certain
penetration rates applied for e-payment. Electronic Payment development assists to improve
competitiveness in many ways. Innovations in payment industry lead to higher financial

46Feasibility of cashless transaction in Malaysia
inclusion, which help to facilitate transactions into the financial system in absence of the banking
accounts. The opportunities related to digitalization payment offer unique opportunities, where it
indicates more customer expectation for value-added services. Increasing number of competition
for the emerging technologies, which appeared in the market, helped to set the landscape.
Business offer technologies regarding the customers in improving payment process; the choices
of customers are carefully studied which depicts that electronic payment system is helpful to
mitigate the payment barriers. It helps to achieve the economic benefits, business, consumers and
other stakeholders who can mitigate the electronic payment. Electronic payments save time and
reduce the risk of huge payments. Sometime problems relating to the consequences specifies that
developing economies do not contain formal bank account which is quite difficult to maintain the
equality and it shoots economic growth of these countries. The cash based country and hence it
would be quite difficult to classify into a cashless nation. Examining the factors, which is
considered to influence the electronic payments stakeholders present for adopting the
technology. In order to overcome the challenges reliable and efficient e-payment infrastructure
has been issued. The continuous and rapid rate of e-payment penetration throughout the globe
resulted with dramatic advancement based in business and society. This feature helped to create
huge interest through various aspects involved in the digital segregation and e-readiness.
Different organizations began to develop unified frameworks, which attributed to provide
snapshots upon how vigorously a community, region and the nation could incur various numbers
of indicators namely, e-connectivity, human capital, business climate, leadership and many other
sources involved in it. The continuous and rapid growth of e-payment throughout the globe
resulted with dramatic advancement based in business and society. This feature helped to create
huge interest through various aspects involved in the digital segregation and e-readiness.

47Feasibility of cashless transaction in Malaysia
Different organizations began to develop unified frameworks, which attributed to provide
snapshots upon how vigorously a community, region and the nation could incur various numbers
of indicators namely, e-connectivity, human capital, business climate, leadership and many other
sources involved in it.
Technology innovation is the key to success for gaining competitive advantage in
considering a volatile and highly turbulent environment. However, the input of technological
innovation into economic growth can be realized when it is widely diffused and adopted
particularly focusing into the technological consideration. Firms who are associated with
innovation faces many barriers in the short run but they get the advantages in the end. The couple
of theories include two-side market and network effect theories. Customers are focused in
spending on single payment network, named as single homing. However, maintaining unused
cards allows them to help in using multiple networks, which is defined as multi-homing. E-
transaction in Malaysia is significantly dependent on the factor of basic wire and wireless
communication connectivity and broadband exposure zones which is covered by supporting
industries. The research deals with the feasibility of the cashless transaction, which provides
certain benefits to the customers in their daily transaction. The research would summaries the
research experience and their interest along with future endeavors of the research. The
philosophy of this particular research is deductive in nature, which points out the effective
techniques that are required to be included with the research study. Experimental research design
and descriptive research design are there three main type of research design that is widely used
and available to any researcher. The researcher that has conducted the research paper mainly
investigates the feasibility of cashless transaction in Malaysia. The experimental design for the
research would be relevant for the study as it consists of the effects of particular situation along

48Feasibility of cashless transaction in Malaysia
with the variable which are to be included with the research. Some of the respondents in the
research also belong to some of the financial sector of Malaysia. Questionnaire have been
developed through which the data would be extracted and mainly consist of close ended question
that has been asked to the respondents.

49Feasibility of cashless transaction in Malaysia
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