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FINT B338F (Autumn 2024) Assignment

Weighting: 30% of final course score

Deadline: Nov 18, 2024

Word limit: 2000 words

Overview

The taxi industry in Hong Kong has been slow to adopt e-payment methods, with cash still being the predominant form of payment. This assignment aims to address this issue by requiring you to research the current state of e-payment adoption in the Hong Kong taxi industry and design an innovative payment system to increase its usage. Perform the following tasks:

1. Research the current state of e-payment adoption in the Hong Kong taxi industry:

•    Analyze the adoption rates of various e-payment methods in Hong Kong.

•     Identify the factors driving or hindering e-payment adoption.

•    Examine the impact of e-payment adoption on the taxi industry, including passenger experience, driver earnings, and operational efficiency.

2. Identify the challenges and barriers to e-payment adoption:

•    Discuss the major obstacles preventing widespread e-payment adoption in the Hong Kong taxi industry.

•    Analyze the financial, technological, and regulatory barriers that need to be addressed.

•    Explore the concerns of taxi drivers and passengers regarding e-payment methods.

3. Design an innovative e-payment system:

•    Propose a new e-payment system that addresses the identified challenges and promotes widespread adoption.

•    Describe the key features and functionalities of the system, such as payment methods, transaction processing, and settlement.

•    Explain how the system will benefit taxi drivers, passengers, and the industry as a whole.

•    Discuss the technological and financial feasibility of implementing the proposed system.

Then write a 2000-word proposal that is structured with an introduction, background research, problem statement, proposed solution, implementation plan, and conclusion. Ensure the proposal incorporates relevant data, statistics, and examples from your research to substantiate your arguments. Additionally, include appropriate citations and references to acknowledge the sources of  the information used throughout the proposal.

Evaluation Criteria

1. Depth and quality of research: Demonstrate a comprehensive understanding of the current state of e-payment adoption in the taxi industry and the challenges faced.

2. Innovative thinking:  Present a unique and creative solution that effectively addresses the identified problems and promotes e-payment adoption.

3. Feasibility  and practicality: Ensure that the proposed e-payment system is technologically and financially viable for implementation in the taxi industry.

4. Writing quality: Organize the proposal in a clear and logical manner, with well-structured arguments and appropriate use of citations.

Submission Guidelines

1.    Submit the proposal as a Word document to the OLE by 5pm on the due date.

2.    Include a cover page with your name, student ID, and the assignment title.

3.    Adhere to the 2000-word limit (excluding the cover page and references).

4.    Use a standard font (e.g., Times New Roman or Arial) with 12-point size and 1.5 line spacing.

5.    Follow the APA citation style for references. Please refer to “Academic writing: Acknowledging your sources” posted on the OLE for the details.