Chapter I -the Problem and Its Background

Topics: World Wide Web, Credit card, Payment systems Pages: 10 (3202 words) Published: March 14, 2013
A growing amount of economic activity is taking place on the Internet. As a result, electronic payment displays a boom although paper based payment methods still dominate the payment system. Electronic Payment or on-line payment is a form of financial transactions that are made without the use of paper documents such as cheques or notes (“A consumer’s guide of electronic payments”, 2001). At present, business organizations, consumers and government agencies throughout the world take advantage of payment technologies to send and receive funds (Kushawara, 2003). Consumers pay their taxes and make other payments electronically; governments receive these taxes and distribute refunds also electronically; and enterprises put these modern technological tools to move payments and other funds. Electronic business payments have proved valuable in saving money, improving efficiency and helping deliver better returns to shareholders. With these benefits, organizations are better able to use their financial and human resource on more important or critical objectives and activities than on processes that can be automated. Recently, there are many different e-payment methods emerging on the web. Facing a wide variety of options, consumers are confused about which one is the best. The best e-payment must have a stable and secure environment offering protection to the consumer. In the Philippines, electronic payments are being continuously developed to replace or reduce paper-based payments. Many new payment services have come into existence in recent years, most of which are based on technical innovations such as card, telephone and the Internet. With all these innovations in the country, government agencies and academic institutions did not fail to make the most out of the convenience electronic payment offer. Educational institutions which makes huge investments in technology to upgrade their infrastructure, also become interested with on-line services. This had been the answer of large institutions like colleges and universities, to the lengthy procedure of their payment services. Electronic services such as online payments are making it possible for students as well as parents to take advantage of new technologies at quite reasonable costs. Considering the large population and the economy, convenience and continuity of transaction, the researcher would like to adapt the system of on-line payment at the Nueva Ecija University of Science and Technology. With the number of students paying their fees and employees assisting them during enrollment and examination periods, the researcher believes that such system of payment will be a great help for the school specially with the reliability and convenience of gathering payment data. It will also be economic for the administrators since the employees' work will be maximized even on payment periods since they will not be needed to assist all students and cater them for long hours and days. It will save money, time and effort on the part of the administrators and employees as well. Being a student of the University, the researcher had his share of the lengthy procedures of payment due to the number of payees, thus, arousing his interest to develop the software and conduct this study.

Statement of the Problem
This study attempted to determine the effectiveness of the on-line payment scheme for NEUST using its dynamic web portal.Specifically, this research work attempted to answer the following questions: 1. How may the proposed NEUST Web be developed and described in terms of the following stages: 1.1 Software planning;

1.2 Software analysis;
1.3 Software design;
1.4 Software coding;
1.5 Software testing;
1.6 Software implementation;
1.7 Software maintenance
2. What is the assessment of the groups of respondents on the developed NEUST web portal for online payment based on the following factors: 3.1...
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