Tag: cashless payments

Manila, Philippines – The move towards a cashless society in the Philippines is becoming more evident, with the latest study from Visa unveiling that around 84% of Filipinos have tried going cashless in favour of digital payments, while 60% of Filipinos say that they are carrying less cash nowadays.

According to the report, cashless payment usage in the country is increasing across a variety of payment options, where Filipinos’ have a preference to use mobile wallets (64%), card payments online (52%), card payments at physical merchants (44%), and QR payments (31%). This shows that the pandemic has also driven the uptake of cashless payment methods, especially mobile wallets and card payments online, with a large number of first-time users due to the pandemic.

Dan Wolbert, country manager for the Philippines and Guam at Visa, said, “While cash is still commonplace in the Philippines, the preference for cashless payments is clearly gaining momentum. Our study showed more Filipinos are confident to get by without cash and for longer periods of time – with more than half feeling confident to get by for a week or longer, as cashless payment options grow.”

Contactless payments, on the other hand, are seen as an emerging payment method in which consumers showed high interest. Eighty-three per cent of Filipinos are aware of contactless payments while 69% have made contactless payments in 2021, up from 66% in 2020.

Wolbert added, “Filipinos believe COVID-19 has accelerated the country’s transition to a cashless society by at least three years. Now, seven out of 10 consumers anticipate that the Philippines can become fully cashless within the next seven to 10 years.”

The report noted that in 2021, the pandemic continued to be the main driver of online shopping growth, especially digital purchases made via e-commerce apps. More consumers turned to online shopping and started using apps or websites to shop for the first time. Movement restriction orders in the past year also led to an increase in in-home spending that included home office products, groceries, personal care items, and content platform subscriptions.

Manila, Philippines – ShopeePay, Shopee’s in-app digital wallet, will be running its cashless festival for the second time, this time, for its 4.4 platform sale. 

The special sale, called ‘ShopeePay Cashless Festival’, aims to encourage Filipino app users to shop, buy load, and pay bills through the digital wallet. The previously held cashless festival by Shopee was in February, while the currently ongoing festival will run up to 25 March.

All Shopee users who will pay via ShopeePay during the event will get to enjoy free shipping for a minimum spend of ₱149 on various categories. There will be sitewide free shipping vouchers redeemable for today for a minimum spend of ₱199, which will be released throughout the day in limited quantities. Meanwhile, there will be another all-day sitewide free shipping slated on 4 April. 

ShopeePay users can also enjoy exclusive ₱1 deals and different offers from local fast food brands, such as Jollibee, McDonald’s, and Dunkin’ Donuts, as well as Domino’s. Furthermore, on the festival’s slated last day 25 March, there will be flash deals for load buying throughout the day. Shoppers can get ₱20 load for only ₱10, and ₱50 load for only ₱37.

By using ShopeePay, shoppers can earn more coins cashback that they can use to get discounts on their next shopping spree.

Manila, Philippines – Cashless transaction has just been made easier with Grab’s Cash-in With Driver feature, which allows cash-paying commuters to receive their change through their GrabPay, Grab’s in-app e-wallet.

Grab activated the new feature to help cash-paying commuters to easily transition towards cashless payments and unlock benefits that GrabPay has to offer, such as GrabRewards points, and other dedicated deals, and promotions.

According to Ronald Roda, Grab Philippines’ head of transport and shared Services, Grab hopes that through this new innovation, more commuters would utilize cashless options.

“With many of our kababayans required to physically be present in their workspaces and offices, transportation remains key in effectively driving safe and sustainable economic recovery for our communities and our country. Through this innovation, we hope to help ease the cashless barrier for our commuters by enjoining our driver-partners to not only provide a safe and reliable means of transportation, but to also help more Filipino commuters embrace cashless payment, and unlock the many benefits that await them with GrabPay.”

The new feature will be fully rolled out by November 2020. It will be available on GrabCar 2-seater and 4-seater in Metro Manila, GrabBayanihan Car, GrabCar 2-Seater in Cebu and Pampanga, and soon on GrabTaxi.