Satisfaction with and Challenges of Bank Remittance in Student Payments in the Philippines

Dr. Marilou M. Saong1, Eduardo C. Zuñiga2  and Kirstein T. Palmares3
1Faculty, School of Natural Sciences, University of Baguio, Baguio City, Philippines
2Accounting Office, University of Baguio, Baguio City 2600, Philippines
3Purchasing Office, University of Baguio, Baguio City 2600, Philippines

International Journal of Academe and Industry Research (IJAIR) September 2023, Volume 4 Issue 3 |


The education sector is one of many that has been affected by the digitization of payments and administrative processes. The study used a descriptive survey method to analyze the student payment process, focusing on the stakeholders’ preferences, satisfaction, and challenges with bank remittance. The respondents included 422 undergraduate and graduate students, 13 parents, and 18 personnel in one University in the Philippines. The vast majority of respondents (63.68 percent – 95.86 percent) were aware of the university’s cash payments, online fund transfers through banks, over-the-counter bank deposits, bill payments through banks, GCash, Paygate. Except for GCash, only 50% or less were aware that payments could be made through Remittance Centers and e-wallets. Payment preferences were influenced by the respondents’ awareness on and the security, ease of use, and accessibility of payment platforms, resulting in a moderate level of satisfaction with the payment process. The study revealed that the student payment process requires improvement because the mode of bank remittances permitted by the University is not suited for immediate payment verification. There is a need to increase the number of bank partnerships that allow for the integration of the University’s software facility for bill payment. In some areas, students do not have access to banks or bill payment services. E-wallet or digital wallet applications such as GCash can be used to pay University fees.

Keywords: student payment process, bank remittance, satisfaction