Unit 3 Mobile Payment Technology in UK Pearson BTEC Level 5 HND Diploma Business Regent College Higher Education

In the present scenario, the emergence of digital and other technology, as well as mobile applications or software, has brought about a big change in business practices. It has also improved the ways payment was made by the customer to shopkeepers. The evolution of the Internet or online banking has provided an organization to provide additional facilities for making digital payment transfers to customers. Besides the several advantages, there are some disadvantages to doing transactions through mobile phones. One is that hackers can easily hack the accounts of users and can easily conduct crimes. In continuous and dynamic small business organizations such as Talon Outdoor, they are often perplexed in the middle of identifying the way to keep adopting the system of receiving and making payments. It is a very difficult and critical task to make a decision related to using a mobile application as the method of making or receiving payment. As there is a high risk involved in facilitating business transactions using mobile 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, Telecell, and Eco Net Wireless, who were providing mobile network services. The objective of mobile money transfer services is to assist small business enterprises in minimising the cost of making payments over a long distance. There are several types of risks involved with accepting or receiving payments through mobile applications. Some threats are compliance is one of the biggest issues, especially for small and medium enterprises like Talon Outdoor. There are high chances of fraud related to accepting payment through mobile applications. It has provided criminals an opportunity to conduct crime. There are high chances of this type of rise in a situation when an individual or customers use public Wi-Fi, have weak passwords,, or when mtheir obile phone is lost.

There is a great requirement for development in the companies that make mobile applications. Business owner of a small or medium enterprise is required to consider several risk factors before planning to implement specific technology for receiving and making payments This strategy will aid the firm in eliminating short- or long-term financial loss. By the dark side of utilizing mobile payment, an individual means the disadvantage of using the mobile application as well as software for making payment. A scholar wants to provide details about the risk associated with the usage of mobile applications for making commercial transactions.

Research aims and objectives.

Aim: TO develop an understanding of implications of mobile payment technology for UK Small businesses, with A focus on the dark side

Objectives :

• To understand the concept of mobile payment in the context of small and medium enterprises.
• To analyze the risk associated with the use of mobile for receiving and making payments.
• To measure the level of utilisation of mobile money transfer services by small and medium enterprises in their financial transactions
• To suggest strategies that can be adopted by small and medium enterprises for improving payment services.

Research questions

• How do you understand the concept of mobile payment and its use by small and medium enterprises?
• What are the risks associated with doing the transaction using a mobile application or software?
• What are the counter impact of mobile money transfers in the context of small and medium enterprises?
• What are the other techniques or methods for improving the financial transaction by small and medium enterprises?
• What is the dark side of using mobile devices for making commercial transactions?

The rationale of selecting the specific topic for conducting the research

There are several factors that have encouraged scholars to facilitate research on particular subject matters. One of the important variables is less use of mobile devices for making business transactions. Another important reason for the increase in fraud is related to financial transactions and the growth of mobile banking applications. Investigators are interested in exploring or identifying the factors which influence mobile money transfer usage by small and medium business enterprises. Researcher is also eager to analyse the dark side of the implication of mobile payment technology for UK Small business. The major rationale behind investigating specific topic is to develop an understanding of the dark sites of using the mobile application for commercial transaction.

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2. Literature review

Business practices in the UK have undergone drastic changes; one of the leading changes was the emergence of information and communication technology. Mobile phones have brought technology that has had great as well as significant effects on several business enterprises. There is some evidence in several fields of an organisation, which include advertisement, the launch of new products, marketing, and payment of bills. As  to the authorAchtenhagen, Melin and Naldi (2013). Use of mobile technology has direct as well as significant impacts on the financial performance of small and medium enterprises. According to the opinion of Giesen, Riddleberger, and Bell (2010), the telecommunications industry worldwide has scrambled to availability of networked computers to mobile devices. As per the view of Brown (2013), there is an 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 counter effects, which put small and medium enterprises in a position not to be willing to make use 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 transactions using mobile devices. Another issue related to the use of mobile applications for making payments is that there might be delays in payment, which may lead to conflicts between the two parties, which also have an adverse negative impact on the reputation of the company. Delays in payments might have an adverse influence on the professional relationship between two parties. As per the view of Crawford and Nahmias (2010), the major risks associated with the implications of mobile phones for making business transactions include security, effort required, and immediate effects on mood, which emerged as crucial influences.

According to the thinking of Taylor, S.J., Bogdan, R., and DeVault, M. (2015). The major advantage of utilising a mobile payment app is that it provides ease in facilitating transactions. By utilising mobile applications, the firm can allow online payment facilities to clients. Mobile payment is a secure way to pay.

According to the perception of Achtenhagen, L., Melin, L., and Naldi, L. (2013), the major cons of using the mobile payment application are that most of the old and low-end smartphones have some compatibility issues. In addition to this, accepting payments through mobile devices requires some POS hardware, which is costly.

Qualitative and quantitative research

Quantitative research methods assist investigators in resolving problems using statistical data or numbers. In this method of data collection, scholars have focused on gathering numerical figures. Qualitative research methods support investigators in making suitable decisions. In this research method, the researcher emphasises accumulating qualitative facts. As the present is the on-topic implication of  mobile payment technology for UK Small businesses, scholars will use a combination of both methods for data collection.

Research  methodologies

The current investigation is related to the implications of mobile payment technology for UK Small businesses. A focus on the dark side. Investigators, to collect data or information, have used several methods of research methodologies to produce desired results or accomplish objectives (Taylor Bogdan and DeVault, 2015)

There are following  research methodologies that will be used by the investigator:

Investigation approach:

Research approaches: The research approaches support scholars in concluding. By applying several concepts, theories, and models, investigators can easily make appropriate judgements. Inductive as well as deductive are the two types of research approaches that can be used by the researcher for conducting research and reaching the appropriate solution. In the present investigation, the scholar will use the inductive method with a qualitative approach, which will assist the researcher in preparing a questionnaire. This approach has been selected as information in the investigation is based on the  information collected through a questionnaire (Robson and McCartan, 2016)

Research philosophy: It assists scholars in developing an understanding of the topic of the investigation. Two main Research philosophies are interpretive as well as positivism. In the present research, the researcher will use positivism research philosophies to achieve the desired  objectives.

Design of research: Explanatory, exploratory, and descriptive are some designs that can be utilized by scholars for executing research. In the present investigation, an exploratory research design will be used by the investigator (Panneerselvam, 2014)

Research type: There are several techniques or methods that can be used for collecting data; these are qualitative and quantitative. The selection of technique or methods of collecting data depends on sources of information and also the nature of the subject matter of investigation. In the present investigation, the scholar will use a qualitative research method for conducting the investigation. Özerdem and Bowd,  2016. )

Sampling: There are various types of sampling techniques, such as random, purposeful, systematic, etc. In the present investigation, the researcher will adopt the random sampling method. By utilising this technique, 20 participants have been chosen from within an enterprise. These participants are working in  Talon Outdoor organisation, which is a small-medium enterprise.

Analysis of data or information: Majorly, there are two types of data analysis: qualitative and quantitative. In the present investigation, the investigator will use  qualitative data analysis, which transforms data into findings and there is no fixed formula for the transformation (Taylor,  Bogdan and DeVault, 2015)

Justification regarding the selection of a mixed approach

The reason for choosing mixed research is that it provides scholars ease in collecting, analysing, storing and interpreting information. Another reason for selecting the mixed-methods research approach is that scholars, 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's disposition.

Timeline for research activities

Data Collection Techniques

There are several techniques or methods which can be used for collecting data. These are interviews, questionnaires, observations, target groups, documents and groups. 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: questionnaires and personal interview methods. questionnaire is prepared by the scholar  himself. But due to the limited timespan, scholar can not conduct personal interviews; therefore, scholar have appointed a highly talented and skilled person for interviewing the participants. The questionnaire form has been circulated via mail as well as personally distributed by the scholar. This method of circulating the questionnaire has been selected as in order to ensure that it has reached to the participants. Another 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 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 essential for scholar to keep 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 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 closed-ended 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 , journals, and articles will be used as the secondary source of data collection (Stankovska,  Josimovski and Edwards, 2016)

Ethical considerations and implications

When conducting the research or investigation, special consideration and extra efforts have 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 secondary sources such as journals and articles, but data has not been copied. Scholar has collected a large quantity of  data or information from the primary sources using the appropriate techniques, such as questionnaire and personal interviews. investigator has not created any kind of pressure or force when interviewing the participants.

References

• Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
• Panneerselvam, R., 2014. Research methodology. PHI Learning Pvt. Ltd.
• Özerdem, A. and Bowd, R., 2016. Participatory research methodologies: Development and post-disaster/conflict reconstruction. Routledge.
• Robson, C. and McCartan, K., 2016. Real-world research. John Wiley & Sons.
• Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
• Achtenhagen, L., Melin, L. and Naldi, L., 2013. Dynamics of business models—strategising,    critical capabilities and activities for sustained value creation. Long range planning. 46(6). pp. 427-442.
• Crawford, L. and Nahmias, A. H. (2010). Competencies for managing change. International   journal of project management, 28(4), pp. 405-412.
•             den Hertog, P., van der Aa, W. and de Jong, M. W., 2010. Capabilities for managing        service innovation: towards a conceptual framework. Journal of Service Management. 21(4). pp. 490-514.
• Brown, A., 2013. Managing challenges in sustaining business excellence. International Journal            of Quality & Reliability Management, 30(
• Giesen, E., Riddleberger, E. and Bell, R. (2010). When and how to innovate your business model.          Strategy & Leadership. 38(4). pp. 17-26.
• Stankovska, I., Josimovski, S. and Edwards, C., 2016. Digital channels diminish SME barriers: the case of the UK. Economic Research-Ekonomska Istraživanja, 29(1), pp. 217-232.
• Zoroja, J. and Pejic Bach, M., 2016. Impact of information and communication technology to the competitiveness of European countries-cluster analysis approach. Journal of theoretical and applied electronic commerce research, 11(1), pp. i-x.

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