Cashless Payment Systems In Small Hotels Focusing On A Seaside Resort (Blackpool,Lancashire)

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DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University

Signed __________________ Date _________________

Abstract

This paper looks to study the following areas of cashless payment:

To assess the benefits of emerging technology (cashless systems) within small businesses focusing on hotels.

The overall goal is to analyze the current developments in the field of cashless payments and the appropriateness of cashless systems for the business and guests in order to provide a background for reasonable projections about future trends

To identify any small hotels in Blackpool that employ a cashless system

to carry out a questionnaire to determine whether the current systems on offer are a benefit to a small business benefits and weaknesses

to use routinely collected data and questionnaire results to establish whether the current systems have a impact on the business

to interview local hoteliers on the cost implications to their business re a cashless society and installing new technology

To identify areas for further support and development.

Research the cashless systems currently on offer.

Identify the relative merits and drawbacks of the systems

Identify the different mechanisms currently used i.e. photograph, pin number, swipe card and biometrics

Table of Contents

CASHLESS PAYMENT SYSTEMS IN SMALL HOTELS FOCUSING ON A SEASIDE RESORTVI

INTRODUCTIONVI

AIMS & OBJECTIVESX

AIMS:X

OBJECTIVES:X

SIGNIFICANCEXI

RATIONALXII

HYPOTHESISXIII

LITERATURE REVIEWXIV

METHODOLOGYXIX

ANALYSIS AND DISCUSIONXXI

FINANCIAL SERVICE KIOSKXXIX

BIOMETRIC PAYMENTSXXX

EVALUATIONS OF E-PAYMENT SYSTEMXXX

CONCLUSIONXXXIV

BIBLIOGRAPHYXXXVIII

Cashless Payment Systems in Small Hotels Focusing On a Seaside Resort

Introduction

Payment technology has evolved from cash to cashless payment by first using a magnetic stripe on a card, and then a computer chip embedded in the card. Contactless payment is one of the latest generations of technologies to emerge and comes in various forms, most notably as a contactless smart card. This “smart” or “proximity” card is essentially a radio-frequency (RFID) enabled card and is soon to be implemented across. 'Tap and go' is a contactless payment technology that allows users to pay for low-value goods by simply touching their cards against an electronic reader. Such transactions have the advantage of being faster and more convenient and are credited with reduced maintenance costs.

Some observers (Olney,1999; Klee, 2004; Garcia-Swartz et al., 2006) suggest that “the increased use of cashless payment system, (i.e. money or scrip which is exchanged only electronically via computer networks) has led to predictions of a 'cashless' society“. In a cashless society, consumers can make payments over the Internet, payment at 'unmanned' vending machine, 'manned' point of sale (POS) using mobile phone device, personal digital assistant (PDA), smart cards and other electronic payment systems, including debit and credit cards. Governments and commercial entities provide strong encouragement and support for cashless transactions. Although there are benefits such as cost saving and efficient use of resources, social commentators and environmental activists have expressed concerns that it would increase overall consumption, increase personal debt levels, reduce savings and that ...