CASHLESS TRANSACTIONS OF UNIVERSITY OF MINDANAO EMPLOYEESA BUSINESS RESEARCH SUBMITTED TO THE FACULTY OF COLLEGE OF BUSINESS ADMINISTRATION EDUCATIONUNIVERSITY OF MINDANADCCHAPTER 1INTRODUCTIONBackground of the StudyIn recent years, debit and credit cards they have become an increasingly common payment mechanism in retail stores and have increasingly replaced checks and cash. The payment system has undoubtedly witnessed progress in adopting cashless payments to provide consumers with the ability to fulfill their shopping desires in a convenient manner. Cashless payment system in which transactions are executed, managed or executed without the use of coins or banknotes for monetary transactions, but using credit and debit cards or electronic funds transfer. The growth of cashless payments has outpaced not only overall economic growth but also the growth of financial sectors. Therefore, it is too valuable for the development, growth, promotion and strengthening of banks' competitiveness. The cashless payment system has been widely accepted by consumers and merchants around the world, and by far the most popular payment method especially in retail markets (Laudon and Traver, 2002). Consumers who pay for expenses by credit card are those who tend to make additional purchases that increase the amount of spending (Lo and Harvey, 2011). Card holders pay/spend a lot compared to cash users due to willingness to purchase. In the use of cashless transactions, China already ranks second after the United States in the number of plastic cards in circulation, especially with credit card products (China Union Pay, 2006). The Chinese card holder revealed that he most often uses...... half the paper......20% of the time the task is performed.Department stores 5Always 4Often 3Sometimes 2Rarely 1Never1. I prefer to use a credit card.2. I prefer to use the debit card.3. Carefully plan most purchases using your swipe card.4. Track how much I spend.5. I find it more convenient to use magnetic cards.Restaurant1. I prefer to use a credit card.2. I prefer to use the debit card.3. Carefully plan most purchases using your swipe card.4. Track how much I spend.5. I find it more convenient to use magnetic cards.Grocery1. I prefer to use a credit card.2. I prefer to use the debit card.3. Carefully plan most purchases using your swipe card.4. Track how much I spend.5. I find it more convenient to use magnetic cards.