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All Journal Oikonomia Review: Journal of Economics, Management, and Accounting
Randy A. Cruz Randy A. Cruz
Polytechnic University of the Philippines

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Digital Payment Capability, Trust, and Sales Growth among Philipphines Micro‑Retailers: The Moderating Role of Financial Literacy Randy A. Cruz Randy A. Cruz
Oikonomia Review: A Journal of Applied Management, Accounting, and Business Strategy Vol. 1 Núm. 1 (2025): Oikonomia Review: Journal of Economics, Management, and Accounting
Publisher : Kalam Practica Media

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Abstract

Digital payments have become a defining feature of retail transformation across Southeast Asia, yet performance benefits from QR and e‑wallet diffusion remain uneven among micro‑retailers who operate with thin margins, limited buffers, and highly variable customer flows. This study examines how digital payment capability influences micro‑retailer sales growth through two behavioral mechanisms—customer trust and transaction convenience—while assessing whether financial literacy strengthens the conversion of capability into these demand‑side effects. Grounded in capability theory and technology‑trust perspectives, the model treats adoption as a minimum condition and focuses instead on execution maturity (reliability, exception handling, reconciliation, and communication competence). Survey data were collected from 436 Philipphines micro‑retailers across three provinces with diverse infrastructure conditions. Partial Least Squares Structural Equation Modeling (PLS‑SEM) was applied to evaluate direct effects, parallel mediation, and moderation. Results show that digital payment capability relates positively to sales growth, with trust and convenience operating as partial mediators; financial literacy strengthens the capability‑to‑trust and capability‑to‑convenience pathways. The findings indicate that cashless ecosystems deliver inclusive performance gains when merchant‑side capability is supported by practical literacy and governance routines that stabilize customer experience. Policy implications emphasize pairing QR expansion with merchant education, simplified reconciliation tools, and dispute‑resolution reliability rather than relying on infrastructure rollout alone.
Digital Financial Literacy, Fraud Awareness, and Safe Mobile Payment Behavior among Filipino Consumers: The Mediating Role of Perceived Control Randy A. Cruz Randy A. Cruz; Maria Lourdes Santos Maria Lourdes Santos; Nur Aina Hamzah Nur Aina Hamzah
Oikonomia Review: A Journal of Applied Management, Accounting, and Business Strategy Vol. 1 Núm. 2 (2025): Oikonomia Review: Journal of Economics, Management, and Accounting
Publisher : Kalam Practica Media

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Abstract

Digital payments have become ubiquitous in Southeast Asia, yet the expansion of cashless ecosystems has been accompanied by rising fraud attempts, phishing, and social engineering schemes that disproportionately affect consumers with limited digital financial competence. This study examines how digital financial literacy influences safe mobile payment behavior among Filipino consumers, focusing on fraud awareness and perceived control as key psychological mechanisms. Drawing on protection motivation theory, self-efficacy perspectives, and perceived risk logic, the model conceptualizes literacy as a capability that improves threat appraisal, strengthens coping appraisal, and increases the likelihood that consumers adopt safe practices such as verification, device hygiene, and transaction monitoring. Survey data were collected from 644 active mobile payment users across Luzon, Visayas, and Mindanao. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied to test direct effects and serial mediation. Results indicate that literacy strengthens fraud awareness and perceived control; awareness increases perceived control by clarifying threats and actionable responses; perceived control strongly predicts safe payment behavior. The findings suggest that anti-fraud outcomes depend not only on awareness campaigns but also on building consumer confidence to execute protective routines. Policy implications emphasize integrating literacy modules into wallet onboarding and community-based education tailored to local fraud narratives.
Co-Authors Maria Lourdes Santos Maria Lourdes Santos Nur Aina Hamzah Nur Aina Hamzah