Background Small business in Australia.

Background Small business in Australia mainly runs on old traditions of business which is doing all sale and purchase in cash. But this system has recently has been changed due to advancement in technology. As a result there is increase in accounting system of business from one time period to another. Being motivated by this issue, our group is exploring a site where previously all the sale and purchase was made in cash and later shifted to mobile payment due to increase in payment and number of the customers. Research problem:- As there is increase in the trend of the market such as change in customer preference and advancement in technology (marketing). So manager has confusion that the trend was same last year but this year due to advancement in the payment system his accounting system has increased. Based on this situation our team has developed two hypotheses as follows. Hypothesis 1: Change in accounting system is due to use of mobile payment. Our team has proposed to undertake Online Ethnography to investigate the real issue and the real factor behind the increase in accounting to accept and reject Hypothesis. For this purpose we are closely monitor the receiving any payment and paying any invoice for the set of the period find the real factor behind the increase in accounting system of that particular period. Online Ethnography is very helpful in this scenario because in online Ethnography or netnography. We will closely monitor the online participant and what are their word. Methodology The research investigation will be conducted using the case study. Where a single case will be explored using the online ethnography technique. Literature Review Mobile payment is a way in which a payment is made and the main device which is used in this process is mobile Phone. Mobile payment has gain popularity due to many reasons. Such as it is easy to setup, if we look at the information which is needed in setting up the mobile payment, then it can be seen that it is easy to setup and person does not required any kind of degree to set this up. All a Merchant has to do is he has to contact his bank and link his device, and consumers is using it because every person has mobile phone in today’s era and sending payment to supplier over the mobile phone is cheaper than the payment over the computer, because computers are more expensive then mobile phone. It has been found that that 40% people use mobile payment solely on retailer or online retails which means and it is not limited to any age group but people of each age is using this service and there is decrease in the usage of any other mode of payment such as personal cheque (Flood et al 2013). Furthermore, mostly business in Australia are Family owned and operated or less than 5 employee as a result less people has to do more work. Let’s take an scenario such as, there is one merchant who got payment from customer in cash and now he has spent some money to secure that payment and then appoint someone to safe guard that Safe and then next day deposit that payment in Bank out. So it take 4 people to manage that particular payment or in other word it create an obligation to another party because receiver have to take care of that money, whereas if there was mobile payment then only 1 staff could do whole process. As a result there is there is increase of 448% in mobile transections from 2010 till 2014 (Australian communication and media Authority,2014) Furthermore, Mobile Payment also comply with the Accounting System which is controlling. As we all know that controlling an item is another name of securing the product. Mobile payment help both merchant and consumer to control the payment or secure the payment. Because mostly all of the payment made by the mobile phone are sure because account holder or mobile holder give approval for payment by his fingerprint and if his phone get stolen then no one else can use that money because of the fingerprint where as in case of normal Debit or Credit card any one can use it such as robber by doing Near Field Communication (NFC). By utilizing portable instalments, shoppers no more need to expect the security dangers related with money or stress whether they have enough trade out their massive physical wallets so that versatile instalments diminish burglary dangers of having money close by. In addition, versatile instalment is a safe approach to pay. Visa data are not put away on cell phones specifically but rather in the cloud. So no cheat could extricate your Visa points of interest just by taking your telephone. Coincidentally, iTunes has the world’s greatest charge card database. According to (Hayashi and Bradford,2014) Mobile payment has increased because as credit card or debit card is a kind of information which nobody like to share with merchant where as in mobile payment merchant does not get any credit card information of the guest. According to Parker(2015) People and merchant prefer PayPal to do or receive mobile payment because it is safe and encrypted. Another one, is when mobile payment is made there is a permanent record which work as proof of payment or securing the payment, because if any payment is made on cash then there is no proof that that person has transferred that money to him but over the mobile payment there is permanent record of transection and it help both consumer to secure their payment. Further more mobile payment has increased the Economy of a country. Which helped the accounting system of Australia to boom. According to the Mint it is very important for a business to make sure it has enough cash on time to operate its function, and mobile payment has helped the business in this because in mobile payment merchant get payment on next days after the settlement. Where as if it is cash it takes minimum of 4 days to process and as a result business might face opportunity cost because money a business need today does not work if business receive that money after 4 days. According to the Cuscal (2016) mobile payment’s new platform which is called as New Payment platform. According to Secure payment this platform will help the customer and merchant to send payment to any person by using their mobile no or email. In spite of this, mobile payment will help in controlling tax evasion. Because if any business receive any payment in form of cash then some time business manipulate some records of sales and give a fake amount of tax to be paid. But if any payment is made through mode of mobile payment then government has record of the payment or sale made by the organisation as a result government get more and more money which was earlier got evaded. Mobile payment also help the business in increasing its sale by dealing with more customers (Gregory 2012). Mentioned that if customers has to wait in que for a long time then they will loose interest in the business where as if the business has mobile payment then it will be easy for business to increase no of its customers. For example if there is very long que in any restaurant to pay the bill then people would not prefer to go to that restaurant where as if the guest can pay by his mobile while having meal then he does not have to wait in que to pay. Because he has already paid the bill. As result the time which manager had to spend on talking that payment can be utilised somewhere else. Additionally, organizations can accelerate the checkout procedure and catch the matter of drive purchasers who may have been less ready to purchase something if a customary exchange were required. Further more mobile payment helps in increasing the sale and buying capacity of supplier and customer. When any customer has cash money then he can only by the product up to that amount of which he has cash in his hand and supplier will be reluctant to sell him any good because he think that customer might have fraudulent cash such as fake cash. But if it is mobile money then he can sell without any worry because he know that his payment is secured by the bank and payment provider. Offering portable instalment alternatives to clients, both online and disconnec
ted basically makes the buy procedure less demanding for them. This can build change rates and the quantity of returning clients. These days, more online shops are putting forth their clients to pay their request online with their cell phone utilizing Google Wallet. It’s a win-win circumstance: clients can without much of a stretch skip rounding out irritating structures and buy a thing with standout snap. Benefits of mobile payments Mobile Payment Systems’ Advantages for Patrons: Convenience: in today’s era, mobile payment is very easier and less complicated process. The customers can make any kind of payment through their mobile device by connected that to internet. They permit clients to seamlessly acquisition goods or services with having to tangibly hand over currency or swipe a card. Buyers are willing for quick, in-and-out shopping experiences. According to (Better than cash alliance,2016 )One legitimate favourable position are the lower expenses of utilizing a portable card peruse or standardized tag scanner than having a Visa terminal from a bank, which accuses traders of a month to month charge in addition to exchange charges. Versatile application proprietors need to pay setup costs for a terminal. So mobile payment has given convenient to merchants because they do not have to pay any fees on top of their account such as terminal fee and all the mobile payment will to the merchant bank account directly. In addition, consumer has convenient of not going anywhere to buy the stuff and pay for that because they can do shopping while sitting at home any pay for the products while sitting over the couch. A common example of mobile payment is buying products on eBay. This will in all likelihood expand transformation rates and income. Getting this pattern of versatile period is only a standout amongst the best and potential decision for retailers. (, 2016) Recent study in Mobile payment A resent research made by the Reserve bank of Australia highlight the importance of mobile payment in the Australian accounting. In 2007 mobile payment or m- commerce was used around 1 percent of population where as in 2013 this usage has increased to 74 percent of population. Furthermore, according to this survey the people who got benefit from mobile payment is the people from the regional areas where the bank branches are on remote area and very far, so people had to travel several kilometres to deposit one cheque but with mobile app they can send money while sitting at their home. In 2010 mobile payment was limited to the buying the applications from the mobile app store where as in 2013 this trend had changed to paying for the bills and shopping, the main point of attraction over this research was that these transection was more in paying retailers bills then online shopping. Another change found in this study was that small payment was made through cash where as large amount transections were made through mobile and this trend was opposite in 2010 (Ossolinski, lam and Emery, 2014). Research Mythology Netnography is used as research methodology in this assignment because netnology is consider as online ethnography because this assignment focus on the culture which has been came in to existence due to trend of paying though mobile phone. According to (VÁSQUEZ and KULAVUZONAL, 2012) Ethnography, is doing online survey and overserving the trend of the population which gets effected and observing their behaviour of what they does. In my assignment I have overserved the behaviour of merchants and customers of using mobile payment, and as (vasaquez) mentioned in his article that netnography is important because our lives are depend upon the usage of various technologies and also our social life is different if we use internet then the life without using internet. Ethnography also help the manger to understand what people think and say about any particular item, on other words it can be said that it is kind o gathering rumours regarding any item. Let take any example of Iphone, after any product gets launch in market many people upload their videos of testing iPhone, some just write their view and some do some demonstration. so, all this information gathered by apple officials and this process is called ethonography because the main point of collecting any information is iPhone and all talks, videos, and rumours revolves around iPhone. Findings After reading the literature review available for this topic and going through the interview with Mr Harry Handa. We have founded that change in accounting system is due to change in mobile payment. Mr Harry said while doing interview that when he had some big functions such as birthday or weeding party in his restaurant and when the payment was being received in form of cheque then it was kind of risky job because some time payment is bounced because of faulty cheque and sometime payment takes too long to get approval. Furthermore, he increased his accounting system because when he receive payment through mobile them there is written record of that payment so it can be used as invoice. Furthermore this gives more accurate payment because many time people give wrong amount of payment because large amount of payment or some time due to counting error. Furthermore, we also discovered that due to change in mobile payment accounting of Mr Harry business (YUM CHA) daily has changed because payment are very accurate because he all the payments are through mobile or mobile related devices as a result they are very less chances of calculation error. Furthermore mobile payment is very effective in time manner as result payment taken get deposited in bank out in next day and he said in his interview that this thing helps his relations with customers because payment through mobile is secure and whenever there is any conflict between the guest and him all he has to do is ask the guest. He also mentioned in his interview that accepting mobile payment has also gave him lead in competition. Because many of his competitors does not accept payment by mobile phone. As a result less people prefer to go in those restaurants. Another interview taken by our group of Mr Dishant Vermani, owner of Small convenience store, put lights on this theme that mobile payment has changed the accounting system of his store. Now he does not have to keep paper record of any purchase took place or any purchase that he made with his supplier because mobile store all his payment transactions and if there is any doubt that he or his customer has regarding the purchase all he has to do or seek transection made. Discussion Conclusion To put in nut shell I would like to say that mobile payment has increased the accounting system in Australia because it has many advantages to both parties on one hand it is saving time of shopkeeper and on other hand it is helping the customer to save their time. Furthermore, due to change in payment platform, which is NPP (new Payment platform) usage of mobile payment, will increase drastically. Reference list 1. Australian communication and media Authority, M-Commerce: Mobile Transactions In Australia, Australian communication and media Authority, 2014. Print. 2. Hayashi, F. and Bradford, T., 2014. Mobile payments: merchants’ perspectives. Economic Review-Federal Reserve Bank of Kansas City, p.5.) 3. Parker, “Paypal Vs. Credit Card: Which Is Safer?”. Investopedia. N.p., 2015. Web. 13 Sept. 2016. 4. Mint payment,2015,”7 Reasons Why Your Merchants Need Mobile Payments Now”. Mint Payments. N.p., Web. 13 Sept. 2016 5. Cuscal 2016,”Cuscal – New Payments Platform”. N.p., 2016. Web. 13 Sept. 2016,<> 6. Gregory,J. “5 Major Benefits Of Mobile Payments”. OPEN Forum. N.p., 2012. Web. 13 Sept. 2016. 7. Better than cash alliance,2016,”The Impact Of Electronic Payments On Economic Growth (2016)”. Better Than Cash Alliance. N.p., 2016. Web. 13 Sept. 2016. 8., 2016
“The Advantages Of Mobile Payment Systems – M-Commerce 101”. N.p., 2016. Web. 13 Sept. 2016. 9. VÁSQUEZ, C. & KULAVUZONAL, D. 2012, Netnography: Doing Ethnographic Research Online, Wiley Subscription Services, Malden 10. Flood D, T West and D Wheadon (2013), ‘Trends in Mobile Payments in Developing and Advanced Economies’, RBA Bulletin, March, pp 71–79. 11. Ossolinski, C., Lam, T. and Emery, D., 2014. The changing way we pay: Trends in consumer payments. Reserve Bank of Australia.

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