Article section

Article title
Contributor
Abstract
About article
DOI
Citation style
Copyright
Open access
References
Research Article

Utilization of Fintech in Selected Tourism Establishment in Bongabong, Oriental Mindoro

Authors

  • Magtibay, Angelica S. Tourism Management Department, Mindoro State University, Bongabong Oriental Mindoro, Philippines
  • Camposano, Kristian L. Entrepreneurship Department, Mindoro State University, Bongabong Oriental Mindoro, Philippines
  • Melendres, Jared M. Tourism Management Department, Mindoro State University, Bongabong Oriental Mindoro, Philippines

    jared.melendrez@minsu.edu.ph

Abstract

Assessing the role of FinTech in the tourism sector is crucial for creating value and driving economic growth. This study focused on examining the business profile and utilization of FinTech in tourism establishments located in Bongabong, Oriental Mindoro. Employing a descriptive-correlational research design, data were collected through a self-made questionnaire, participated by 15 tourism establishments. The collected data were analyzed using frequency, weighted mean, and Pearson's r. The correlation analysis indicated that there was no significant relationship observed between the business profile and the utilization of FinTech in terms of organization management and customer management. This suggests that the adoption and utilization of FinTech in these areas may not be strongly influenced by the specific characteristics of the establishments. These results emphasize the importance of further research and exploration to better understand and enhance the utilization of FinTech in the tourism sector. It is essential to explore alternative factors or strategies that could facilitate the effective integration of FinTech solutions. Future studies could consider investigating other variables that may influence the adoption and utilization of FinTech, such as technological readiness, regulatory environment, or customer preferences. The study's implications highlight the significance of considering the unique characteristics and needs of tourism establishments when implementing FinTech solutions. This may ultimately lead to improved operational efficiency, enhanced customer experiences, and increased competitiveness in the tourism industry in Bongabong, Oriental Mindoro.

Article information

Journal

Journal of Economics, Business, and Commerce

Volume (Issue)

1 (2)

Pages

6-12

Published

10-08-2024

How to Cite

Magtibay, A. S., Camposano, K. L., & Melendres, J. M. (2024). Utilization of Fintech in Selected Tourism Establishment in Bongabong, Oriental Mindoro. Journal of Economics, Business, and Commerce, 1(2), 6-12. https://doi.org/10.69739/jebc.v1i2.56

References

Alam, M. M., Awawdeh, A. E., & Muhamad, A. I. B. (2021). Using e-wallet for business process development: challenges and prospects in Malaysia. Business Process Management Journal, 27(4), 1142-1162.

Alam, N., & Zameni, A. (2019). The regulation of fintech and cryptocurrencies. In Fintech in Islamic Finance (pp. 159-171). Routledge.

Ameyaw, M. N., Idemudia, C., & Iyelolu, T. V. (2024). Financial compliance as a pillar of corporate integrity: A thorough analysis of fraud prevention. Finance & Accounting Research Journal, 6(7), 1157-1177.

Bangko Sentral ng Pilipinas (BSP), (2020). BSP Digital Payments Transformation Roadmap Report. https://www.bsp.gov.ph/Media_And_Research/Primers%20Faqs/Digital%20Payments%20Transformation%20Roadmap%20Report.pdf

Baradaran, M. (2020). Banking on democracy. Wash. UL Rev., 98, 353.

Barbu, C. M., Florea, D. L., Dabija, D. C., & Barbu, M. C. R. (2021). Customer experience in fintech. Journal of Theoretical and Applied Electronic Commerce Research, 16(5), 1415-1433.

Cai, C., Chang, X., Deng, X., He, Y., Peng, J., & Peng, Z. (2023). Financial Technologies and Economic Resilience from COVID-19. Nanyang Business School Research Paper, (23-07).

Efijemue, O., Obunadike, C., Taiwo, E., Kizor, S., Olisah, S., Odooh, C., & Ejimofor, I. (2023). Cybersecurity strategies for safeguarding customers data and preventing financial fraud in the United States financial sectors. International Journal of Soft Computing, 14(3), 10-5121.

Harsono, I., & Suprapti, I. A. P. (2024). The role of fintech in transforming traditional financial services. Accounting Studies and Tax Journal (COUNT), 1(1), 81-91.

Hassan, M. A., Shukur, Z., Hasan, M. K., & Al-Khaleefa, A. S. (2020). A review on electronic payments security. Symmetry, 12(8), 1344.

Kumari, A., & Devi, N. C. (2022). Determinants of user’s behavioral intention to use blockchain technology in digital banking services. International Journal of Electronic Finance, 11(2), 159-174.

Misbah, N. (2022). Factors Affecting the E-Wallet Adoption in a Cashless Society. [Unpublished MBA project paper]. Universiti Tun Abdul Razak. https://kmc. unirazak. edu. my/wp-content/uploads/2022/06/Master-Thesis-Nizar. pdf.

Pazarbasioglu, C., Mora, A. G., Uttamchandani, M., Natarajan, H., Feyen, E., & Saal, M. (2020). Digital financial services. World Bank, 54, 1-54.

Soni, G., Kumar, S., Mahto, R. V., Mangla, S. K., Mittal, M. L., & Lim, W. M. (2022). A decision-making framework for Industry 4.0 technology implementation: The case of FinTech and sustainable supply chain finance for SMEs. Technological Forecasting and Social Change, 180, 121686.

Quimba, F. M. A., Barral, M. A. A., & Carlos, J. C. T. (2021). Analysis of the Fintech Landscape in the Philippines (No. 2021-29). PIDS Discussion Paper Series.

Zairis, A. (2021, May). DIGITAL PAYMENTS IN THE POST CAPITAL CONTROL ERA. In of the 13th International Conference (p. 89).

Downloads

Views

115

Downloads

75

Keywords:

Fintech Tourism Establishment Customer Management Organization Management