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The Effect of Using E-Payment as a Method of Payment in the Fast Food Industry

The Effect of Using E-Payment as a Method of Payment in the Fast Food Industry

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DEDICATION

This research material, titled “The Effect of Using E-Payment as a Method of Payment in the Fast Food Industry” is dedicated to God for His boundless grace and guidance. It is also a tribute to all computer enthusiasts whose contributions made my research journey smoother and enriched my documentation process, making the experience truly fulfilling.



ACKNOWLEDGEMENT

I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Business Administration and Management (BAM) for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on The Effect of Using E-Payment as a Method of Payment in the Fast Food Industry provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.



TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”


    The Effect of Using E-Payment as a Method of Payment in the Fast Food Industry

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    In spite of corporate efforts over the past few years to wring inefficiencies out of back-office processes, invoice-to-cash processing remains a costly proposition for most organizations. The challenge is especially tough in the fast food industry, where companies must deal with high volumes of multi-page paper invoices with a requirement to attach backup documents such as receipts. again the fast food industry also face a dizzying number of customer inquiries, a lot of partial and short paid invoices that require research and resolution, and many disputed invoices. Against this backdrop, it’s not surprising that the industry is plagued by high Days Sales Outstanding (DSO), overdue invoices, and manual payment posting and cash application (Jackson, 2010).

    For the fast food industry, an answer to reducing DSO and accelerating cash flow as well as improving overall efficiency is electronic payment. A fast food restaurant, also known as a quick service restaurant (QSR) within the industry, is a specific type of restaurant characterized both by its fast food cuisine and by minimal table service. Food served in fast food restaurants typically caters to a “meat-sweet diet” and is offered from a limited menu; is cooked in bulk in advance and kept hot; is finished and packaged to order; and is usually available ready to take away, though seating may be provided. Fast food restaurants are typically part of a restaurant chain or franchise operation, which provisions standardized ingredients and/or partially prepared foods and supplies to each restaurant through controlled supply channels. Hence, the effect of e-payment as a method of payment in fast food restaurant help to improve service and productive (Levitin, 2011).

    1.2 Statement Of The Problem

    Genesis fast food Enugu uses e-payment as one of the payment option (POS) in their transactions. However, the fast food have not be able to explore other options which may have more effectiveness in business transaction than the POS machine. Therefore, this work seeks to solve the problem of ignorance on e-payment by fast food industry using Genesis as referent point.

    1.3 Objectives Of The Study

    The broad objective of this research is to evaluate the effect of using e-payment as a method of payment in the fast food industry with Genesis fast food Enugu as referent point.

    Therefore, the specific objectives are as follows;

    1. To investigate whether Genesis fast food Enugu uses e-payment for transaction
    2. To examine different types of e-payment current present in the fast food industry
    3. To determine the effect of e-payment on the services of Genesis fast food Enugu
    4. To suggest ways for improving e-payment methods in Genesis fast food Enugu

    1.4 Research Questions

    1. Does Genesis fast food Enugu uses e-payment for transaction?
    2. What are the different types of e-payment current present in the fast food industry?
    3. What are the effects of e-payment in as a method of payment in Genesis fast food restaurant?
    4. What are the ways for improving e-payment methods in Genesis fast food Enugu?

    1.5 Significance Of The Study

    The benefits of this research cannot be overemphasized. This is because this work revealed the benefits derived from e-payment as a method of payment in the fast food industry.

    Also, the study examines different possible ways for e-payment and reveals ways for improving e-payment methods.

    Finally, this work would serve as research material for students who intend to carryout similar research work.

    1.6 Limitation Of The Study

    The limitations of this study include;

    1. Time constraint: The availability of time for carrying out this research work was limited. The short duration of time is not enough for a study of this kind.
    2. Attitude of the respondents was another major challenge. Some refused to collect the questionnaires while others did not answer some of the questions. Many of them have to be convinced that the questionnaire will be used for purely academic purpose before they cooperate.
    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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