Implications of Mobile Payment Technology for UK Small Businesses

This research report investigates the implications of mobile payment technology, specifically focusing on the "dark side" for UK small businesses. The report begins with an introduction outlining the background, aims, and objectives of the study, including the rationale for selecting the topic and the research questions. A literature review explores existing research on mobile payment technology, its impact on financial performance, the risks associated with mobile transactions (such as security, fraud, and compliance), and the advantages of mobile payment apps. The methodology section details the research approach, philosophy, design, type, sampling, and data analysis methods employed. The study utilizes a mixed-methods approach, combining qualitative and quantitative techniques, and employs an inductive method with a qualitative approach to data collection through questionnaires. The timeline for the research activities is also provided. The findings of the research and recommendations are provided, offering strategies for small businesses to improve their payment services and mitigate risks associated with mobile payment technology. The report also includes a reflection on the research process.

HARMFUL IMPACTS OF
USING MOBILE FOR
BUSINESS
TRANSACTIONS

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................1
Background of the study ........................................................................................................1
Aim and objectives of investigation.......................................................................................1
Rationale of the study.............................................................................................................2
Timeline..................................................................................................................................3
METHODOLOGY .........................................................................................................................3
Results / Findings ..................................................................................................................5
Descriptive Analysis.............................................................................................................14
RECOMMENDATIONS ..............................................................................................................15
REFLECTION...............................................................................................................................15

Research proposal
Topic: implications of mobile payment technology for UK Small business,A focus on the
dark side
Introduction
Research is defined as the systematic investigation conduct on the specific topic in order
to set facts and reach new conclusions. The objectives of the research is to discover and interpret
facts, application of theories or facts with the intention to reach appropriate solutions.
In present scenario, emergence of digital and other technology as well as mobiles
application or software has bought the big change in business practices. It has also improved the
ways' payment were big made by the Customer to shopkeepers. Evolution of internet or online
banking has provided an organization to provide additional facilities of making digital payment
transfer to customers. Besides the several advantages there are some disadvantages of doing the
transactions through mobile phones is that hackers can easily hack the account of users and can
easily conduct crime. In continuous and dynamic small business organisation such as Talon
Outdoor are often perplexed in the middle of identifying the way to keep adopt the system of
receiving and making payment. As it is very difficult as well as critical task to make decision
related to the using mobile application as the method of making or receiving the payment. As
there is high risk involved in facilitating business transaction using mobiles phones.
Background of the study
It has been identified from the investigation that Zimbabwe was the country in which the
mobile was first used for transferring money. There were the three companies such as Net one,
Tele cell and Eco net Wireless who were providing mobile network services. The objectives of
mobile money transfer services is to assist small business enterprises in minimising the cost of
making payment over a long distance. There are several types of risk involved with the accepting
or receiving payments through mobile applications. Some threats are Compliance is one of the
biggest issues especially for the small medium enterprise like Talon Outdoor. High chances of
frauds related to the accepting payment through mobile applications. It has provided criminal an
opportunity to conduct crime. There are high chances of this type of rise in situation when an
individual or customers use public Wi-Fi , weak passwords and when mobile phone is lost.
There is great requirement of development in the companies who makes mobile
application. Business owner of the small medium enterprise is required to consider several risk
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factor before planning to implement specific technology for receiving and making payments this
strategy will aid firm in eliminating short or long term financial loss. By dark side of utilising the
mobile payment an individual mean the disadvantage of using the mobile application as well as
software for making payment. A scholar want to provide detail about the risk associated with
usage of mobile applications for making commercial transaction.
Research aims and Objectives
Aim - TO develop the understanding about implications of mobile payment technology for UK
Small business,A focus on the dark side
Objectives :
 To understand the concept of mobile payment in context of small medium enterprise.
 To analyse the risk associated with use of mobile for receiving and making payment.
 To measure the level of utilization of mobile money transfer services by small medium
enterprise in their financial transactions
 To suggest strategies which can be adopted the small medium enterprises for improving
the payment services.
Research questions
 What do you understand the concept of mobile payment and its use by small medium
enterprise?
 What are the risk associated with doing the transaction using mobile application or
software?
 What are the counter impact of mobile money transfers in context of small medium
enterprises?
 What are the other techniques or methods for improving the financial transaction by
small medium enterprises?
 What are the dark side of using the mobile devices for making commercial transactions.
Rational of selecting the specific topic for conducting the research
There are several factors which has encouraged scholar to facilitate the research on the
particular subject matters. One of the important variable is less use of mobile devises for making
the business transaction. The another important reason in increase in fraud related to financial
transaction and growth of the mobile banking application. Investigator interest in exploring or
identifying the factors which influence mobile money transfer usage by the small and medium
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business enterprises. Researcher is also eager for analysing the dark side of the implication of
mobile payment technology for UK Small business. The major rationale behind the conducting
the investigation on specific topic is to develop the understanding about the dark sites of using
the mobile application for commercial transaction.
2. Literature review
Business practices in UK have undergone drastic changes, one of the leading change was
emergence of the information communication technology. Mobile phones have brought
technology that has made great as well as significant effect on several business enterprises.
There are some evidence in several fields of an organisation which include advertisement,
launch of new product , marketing and the payment of bill. As to the authorAchtenhagen, Melin
and Naldi, (2013). use of mobile technology has direct as well as significant impsact on the
financial performance of small medium enterprises. According to the opinion of Giesen,
Riddleberger and Bell, (2010)the telecommunications' industry worldwide has scrambled to
availability to networked computers to mobile devices. As per the view Brown, (2013)of there is
extremely high utilisation of electronic or mobile making services. According to the thinking of
Giesen, E., Riddleberger, E. and Bell, R., (2010) mobile money transfer services also come with
their own counter effects which make small medium enterprises to be in a position not to be
willing to make utilization of these services. Few of the unfavourable consequences come in the
form of charges which are charged by network providers to those who will be conducting
financial transaction using mobile devices. The another issue related to the use of mobile
application for making payment is that there might be delay in payment which may lead to the
conflicts between the two parties which also have adverse negative impact on the reputation of
company. Delay in payments mights have adverse influence on the professional relationship
between two parties. As per the view of Crawford, and Nahmias, (2010) the major risk
associated with implication of mobile phones for making business transaction include security,
effort required, and immediate effects on mood emerged as crucial influences.
According to the thinking of Taylor, S.J., Bogdan, R. and DeVault, M., (2015).The
major advantages of utilising mobile payment app is that it provides ease in facilitating
transaction. By utilising mobile application firm can allow the on line payment facilities to
clients. Mobile payment is a secure way to pay.
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According to the perception of Achtenhagen, L., Melin, L. and Naldi, L., (2013)the
major cons of using the mobile payment application is that most of the old and low-end
smartphones have some compatibility issues. In addition to this For accepting payments through
mobile devices require some POS hardware which are costly.
Qualitative and quantitative research
Quantitative research methods assists investigator in resolving problems using statistical
data or numbers. In this method of data collection scholar have focus on gathering numerical
figures. Qualitative research methods supports investigator in making suitable decision. In this
research method researcher emphasizes on accumulating qualitative facts. As the present is on
topic implication of mobile payment technology for UK Small business, scholar will use
combination of both method for data collection.
Research methodologies
The current investigation is related to the implications of mobile payment technology for
UK Small business,A focus on the dark side. Investigator in order to collect data or information
has used several methods of the research methodologies in order to produce desired results or
accomplish objectives (Taylor Bogdan and DeVault,2015)
There are following research methodologies will be used by the investigator these are:
Investigation approach:
Research approaches:The research approaches supports scholar in reaching to the conclusion.
By applying the several concepts , theories and models, investigator can easily make appropriate
judgement. Inductive as well as deductive are the two types of research approaches which can be
used by researcher for conducting research and reaching to the appropriate solution. In present
investigation , scholar will use inductive method with qualitative approach which will assists
researcher in preparing questionnaire. This approach has been selected as information in the
investigation is based on the information collected through using questionnaire (Robson and
McCartan,2016)
Research philosophy-It assists scholar in developing the understanding about the topic of the
investigation. Two main Research philosophies are interpretive as well as positivism. I n present
research, researcher will use positivism research philosophies for achieving the desired
objectives.
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Design of research: Explanatory, exploratory , descriptive are some design which can be utilise
by scholar for executing research. In present investigation exploratory research design will be
used by the investigator (Panneerselvam, 2014)
Research type:There are several techniques or methods which can be used for collecting data
these are qualitative and quantitative. Selection of technique or methods of collecting data
depends on sources of information and also nature of subject matter of investigation. In present
investigation , scholar will use qualitative research method for conducting the investigation.
Özerdem and Bowd, 2016. )
sampling: There are various types of sampling technique such as random , purposive, systematic
etc. In the present investigation , researcher will adopt the random sampling method. By utilising
this technique 20 participants has been chosen from within an enterprise. These participants are
working in Talon Outdoor organisation which is small medium enterprise.
Analysis of data or information: Majorly there are two types of data analysis that is qualitative
and quantitative. In present investigation , investigator will use qualitative data analysis under
which transforms data into findings and there is no fixed formula for the transformation (Taylor,
Bogdan and DeVault, 2015)
Justification regarding the selection of mixed approach
The reason for choosing the mixed research is that it provides scholar an ease in
collecting, analysing, storing and interpretation information. The another reason for selecting
mixwd research approach is that scholar by utilising this technique can access fascinating data
by observing routine settings or by discovering casual features in extraordinary settings. In
addition to this the other justification for the same is that mixed research is always influenced by
the individual or investigator personal disposition.s
Tim line for research activities
Task Name Duration Start Finish Predecessors
Research project 70days 6/27/18 6/15/18
Preparation for investigation
procedure 19 days 2/27/18 3/24/18
Choice of topic for 8 days 2/27/18 03/09/18 6
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investigation.
Identifying and analysing the
problem 6 days 03/10/18 3/20/18 3
Establishing time schedule for
all procedures. 5days 3/21/18 3/24/18 4
Carrying out of Investigation
process. 50 days 3/27/18 06/06/18
Analysing the point of view of
different scholar or authors and
writing literature review
10 days 3/27/18 04/11/18 9
Selecting methodologies for
Research. 15 days 04/12/18 05/03/18 11
Determination or evaluation of
the expenses or costs. 5 days 05/04/18 05/11/18 5
Analysis and interpretation of
data. 17 days 05/12/18 06/06/18 15
Evaluation of Results 9 days 05/12/18 5/25/18 8
Closing of research project 14 days 5/26/18 6/15/18
Providing conclusion and
recommendations 7 days 5/26/18 06/06/18 6
Proper documentation of
results 5 days 06/07/18 6/14/18 5
Submission of report 1 day 6/15/18 6/15/18 1
Data Collection Techniques
There are several techniques or method which can be used for collecting data. These are
interview,questionnaire, observation, target group, documents and group. In present investigation
on the topic the implications of mobile payment technology for UK Small business,A focus on
the dark side, researcher have used two techniques these are questionnaire and personal interview
method. Questionnaire is prepared by the scholar himself. But due to the limited timespan,
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scholar can not conduct personal interview therefore, scholar has appointed a highly talented and
skilled person for interviewing the participants. The questionnaire form has been circulated via
mail ans well as personally distributed by the scholar. This method of circulating the
questionnaire has been selected as in order to that it has reached to the participants. Other reason
for using this specific technique is to get quick response from the participants (Zumitzavan and
Michie, 2015)
Ways to store and Retrieve data
After collection of the data , it is very much important to store information in appropriate
manner so same can be used in the future as well. Data base management or management
information system can be used for storing the information and information store can be used in
the future as well. Storing the data is important activity in context of the research , as it is very
much essential for scholar to kept the information confidential and prevent the same from misuse
in order to avoid legal obligations. The data or information should be stored carefully and in such
a way that it can be retrieved easily when required in the future (Zoroja and Pejic Bach, 2016)
Sources of Information
Data collection is considered to be an essential part of the research project. Primary data
collection and secondary data collection are two techniques of gathering information. The
present project is based on the study of the implications of mobile payment technology for UK
Small business, A focus on the dark side In the primary data collection, scholar can accumulate
information with the assistance of structured questionnaire. It includes both close and open ended
question relevant to the topic of investigation. In present research, researcher will use both
methods of data collection. In addition to this, interview method will also be used by the
investigator for collecting primary information. Books, journal, articles will be used as the
secondary source of data collection (Stankovska, Josimovski and Edwards, 2016)
Ethical consideration and Implication
When conducting the research or investigation, special consideration and extra efforts has
been put by the scholar in order to obtain complete as well as reliable information from the
participants. All the participants were informed about the purpose of the investigation. Some data
or information has been taken from the secondary sources such as journal, article, but data has
not been copied. Scholar has collected much quantity of data or information from the primary
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sources using the appropriate techniques such as questionnaire and personal interview.
Investigator has not created any kind of pressure or force when interviewing the participants.
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Research Project
INTRODUCTION
Background of the study
The increase in utilisation of mobile application has majorly affected the payment of
products or services made by an organisation. Emergence of digital technology has led to the
major change in payment system. Mobile payment facility provided by many of the companies
has encouraged as well as positively influenced customers or shoppers to make online purchase.
It has provided customers as well as business entities an ease in transferring funds, but at the
same time, use of mobile wallet facilitating financial transactions involve high risk. Utilisation of
mobile application for making as well as receiving payment has led to increase in security
concerns in context of possibility of someone intercepting with firm's payment information. The
implications of mobile payment technology for UK Small business, a focus on the dark side is
kept so that use of mobile apps is expected to contribute in mitigating payment fraud. Purpose of
report is to develop the understanding about disadvantages of utilizing mobile payment
application for financial business transactions.
Earlier, the monetary business transactions were made only through bank account.
Business owner or finance manager used to visit bank for making transactions or for transferring
funds. But the changes in technology have brought major development in method of making or
receiving payment. Earlier, facilitating business transactions was considered to be a lengthy
procedure. But emergence of mobile banking application has provided various opportunities to
customers as well as companies an ease in making business transactions. But at the same time, it
also brought the major risk for organisation such as threat of financial losses .It has been made
challenging for the firm to keep their financial record confidential. Use of mobile apps by an
organisation has also given rise to security issues. Many companies are facing difficulty in
controlling the cash flow.
Aim and objectives of investigation
Title- Harmful impacts of using mobile for business transactions
Aim of the study: To analyse the negative side of utilising mobile application for facilitating
business transactions by small and medium sized enterprises in United Kingdom
Objective of conducting investigation:
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 To develop the understanding about different issues related to use of mobile payment for
facilitating business transactions
 To identify the risks associated with receiving or making payment using mobile banking
apps
 To analyse the negative side of using mobile application or other digital technology for
processing business transactions
 To compare the traditional and modern payment channel in order to select the best, safe,
and secure mode for transferring funds.
 To analyse the way new comers to arena of mobile payments ensure having adequate
knowledge as well as understanding of several regulatory framework related to payments
 To determine way mobile banking can work better for the benefit of an organisation.
 To suggest the strategies which Talon outdoor company can bring for improvement in
payment system.
 To recommend the strategies which can be implemented by firm in order to avoid the
risks of financial losses
Research Questions
How to develop understanding related to different issues whiles using mobile for payment?
What are the risks associated with receiving or making payment using mobile banking apps?
What are the negative side of using mobile application or other digital technology for processing
business transactions
What suggestions can be provided as a strategy that can be implemented by firm.
Rationale of the study
Reason for conducting research on this topic is to analyse all causes that majority of
small medium enterprises have stop using mobile banking application for facilitating business
transactions. In addition to this, the other reasons for selecting specific topic for investigation is
to analyse the scope of mobile payment. Increase in frauds and hacking are the two factors which
have encouraged researcher to facilitate investigation in order to find solution to the specific
problem.
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