Utilization of Digital Tools in Money Remittance Center: Proposed for Improvement Plan in Ninang Store at Camarin Caloocan City

Vol.4, No.1

Abstract

In previous decades, there were very few transmissions, but as time went on, more money
remittances arose through e-wallets like G-cash, Pay Maya, and others, making it simpler for
people to send money to family members both inside and outside of the nation. Remittances
are one of the main sources of income for many people. Examples of money transmission
include bill payment services, expedited mortgage payment services, and any unofficial
network of people or system that facilitates the transfer of money to a location inside or
outside the nation without the use of traditional financial institutions.
The result of the study reveals that the majority of respondents are female between the ages
of 20 and 24; their monthly family income is 5,000 pesos or less. The digital tools used by
the respondents using mobile phones were interpreted as strongly agreeing, and the overall
result obtained a composite weighted mean of 3.52, interpreted as strongly agreeing. The
benefits of digital payment in the money remittance center in the Ninang store at Camarin,
Caloocan City, in terms of speed, accuracy, security, and privacy, were interpreted as
strongly agreeable. The overall result obtained a composite weighted mean of 2.87, which is
interpreted as agreeing. The challenges encountered in money remittance centers are high
transfer fees, poor exchange rates, a lack of flexibility over means of receiving funds, and
transfers consuming more time due to banks' slow processing times. According to the
findings, the majority of respondents (60%) encountered high transfer fees in money
remittance centers. As revealed, the majority of the respondents, sender, and receiver,
agreed to improve the reduction of service fees and create self-service automated
remittance machines.
The purpose of this chapter is to summarize the findings that emerged from the study and
what the study suggested, revealed, or inducted. This usually refers to the total outcome
rather than the conclusions or recommendations drawn from it.