Soon, more Filipinos may use wallets as card holders and for money. VisaNet, an electronic payments company, predicts a rise in e-commerce in the Philippines as Filipinos are starting to go cashless.
The 2016 Visa Consumer Payment Attitudes Survey showed six out 10 Filipinos now prefer electronic payments rather than paying in cash.
The results also showed that 49 percent of Filipinos think using cards is safer than cash-based transactions, while 29 percent carry less cash.
Stuart Tomlinson, Visa Country Manager for the Philippines and Guam, said the figures position the Philippines as an avenue for more e-commerce systems.
“This indicates strong electronic payment opportunities in the future,” Tomlinson said. “Our study shows majority of Filipinos prefer to use electronic payments, so we’re focused on driving greater education, merchant acceptance, and introducing new payment innovations to help them make this preference a reality.”
(Report via PNA)
