Visa study: Cashless payments increasing in PH
Cashless payments are on the rise in the Philippines with 60 percent of Filipinos carrying less cash in their wallets and 84 percent having tried going cashless in 2021, according to Visa’s Consumer Payment Attitudes Study. Dan Wolbert, Visa Country Manager for the Philippines and Guam 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.” For Filipinos, going cashless means being safe, having convenience, and being able to track their financial records easily. Spend categories leading this transition to cashless in the country are bill payments, supermarket expenditure, and retail shopping. “Filipinos believe COVID-19 has accelerated the country’s transition to a cashless society by at least three years. Now, s
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