GoTyme Bank, Visa, and BancNet join forces to boost PH digital economy towards cashless society
GoTyme Bank, Philippine interbank ATM and online banking network BancNet, and Visa, one of the world’s leaders in digital payments, formed a strategic partnership to address the need for convenient and accessible banking and digital payment solutions in the Philippines. Cashless transactions have become the norm as a way to stay safe during the pandemic. The 2021 Consumer Payment Attitudes study conducted by Visa, found that 14% of the respondents used contactless cards to pay for their transactions for the first time in 2020 while 12% of the respondents, led by the Gen Z and Gen Y age groups, said they will be less likely to use cash after the current health crisis. This means that cashless payment forms such as cards and e-wallets, as well as digital bank platforms will play a bigger role in the transition to a cashless Philippine society. Visa’s worldwide reach and expertise in digital payments, synergizing with BancNet’s extensive nationwide and offshore coverage, together with G
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