Perception and readiness of college students in LCC-Bais towards cashless transactions

With the increasing shift toward digitization in financial services, particularly in educational institutions, understanding user perception and institutional capabilities is essential for successful implementation. This study determined the perception and readiness of college students at La Consolacion College, Bais City, in terms of practicality, safety and security, and environmental impact, assessed their level of readiness, identified significant differences based on demographic profiles, examined the relationship between perception and readiness, and explored the views of parents and school personnel regarding the adoption of a cashless transaction system. A mixed-method research design was employed. The quantitative data aspect used descriptive, comparative, and correlational approaches. A validated, researcher-made questionnaire was distributed to 120 students who were selected through convenience sampling. Data were analyzed using frequency, percentage, weighted mean, Kruskal-Wallis, and Pearson correlation. While the qualitative data aspect involved in-depth interviews with parents and school officials. Responses were analyzed thematically. Results showed that students generally perceived cashless transactions positively, in terms of practicality, safety and security, and environmental impact. The respondents were moderately ready to adopt a cashless transaction system, while a strong positive correlation was found between perception and readiness. There were no significant differences in perception or readiness observed when grouped according to age, sex, or monthly family income. The qualitative data revealed several challenges towards the implementation of cashless transaction systems, including poor internet connectivity, limited digital literacy, lack of equipment, absence of trained personnel, and protocol intricacy.