Payment Model for Financial Transaction Using MyKad - Research Paper Example

MyKad being a smartcard providing one stop service can be used to process the payments. (Ivest4MyKad, 2004) MyKad application works in eight sectors which can be shown in the figure below which states that e-commerce transactions is one of the key services offered by MyKad. Therefore it is necessary to understand the technological process involved and design methodology used to develop a smartcard that is multifunctional at all levels and supports general citizens. (Huo-Chong Ling and Raphael C. - W. Pham) According to Kerlinger (1986), research design is a plan, structure and strategy of investigation as envisioned as to obtain the required output to the research questions or problems.

The research plan is program of the research to be conducted which includes the outline of the things to be done by the principal investigator right from the beginning by formulating hypothesis and their suggestions and understanding through final data analysis. Further Thyer (1993) states that traditional research design is a blueprint or detailed program on how the research will be completed and how the data will be gathered that will support the suggestions and concluding remarks of the researcher through data analysis.

(Kumar, 2005) As research designs are prepared to answer the questions of the researcher, it is necessary to adopt the appropriate method of research to collect the data. There are two basic ways of approaching to the research; quantitative approach and the qualitative approach. Quantitative approach is involved in collecting as much data as possible in quantitative form so that it can used to express the rigorous quantitative analysis. Whereas qualitative approach to research deals with specific criteria of the particular subject by observing, assessing the attitude and behavior.

(Kothari, 2008) Quantitative research is further classified into sub categories like inferential, experimental and simulation approaches to research. Inferential approach can be used to collect data upon the data could be used to infer the characteristics or relationships of the population of selected area which has been decided the researcher to survey for detailed results. Experimental approach is to get the desired results by manipulating the data. Simulation approach is greatly concerned with artificial environment.

In this type of research approach, relevant information and data can be generated through artificial environment through observation of the systems and its sub systems under uncontrolled conditions. Simulation approach is mostly used in business and social sciences application that refers to the operation of numerical model representing the structure of dynamic process which can be known through input of valuable data, initial conditions, parameters and exogenous variables. (Kothari, 2008) Ethridge D.E. (2004) states that computer technology along with difficult statistical and mathematical simulation techniques shows us the way to explore and define the complex nature of economic phenomena and relationships.

As MyKad is a Government Multipurpose Card to enable the Malaysians have access to public and private services. The MyKad data storage services allow the general