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Digital payments continues growth in the Philippines

Visa’s annual online Consumer Payments Attitudes Study last year showed continuous growth in digital payments in the Philippines. Visa Country Manager for the Philippines and Guam Dan Wolbert said the importance of cashless transactions and digital payments was appreciated during the pandemic, following the movement restrictions imposed to address the spread of the coronavirus. He said that initially people used it to buy necessities following the lockdowns, but later on utilised it for convenience. More services and capabilities are also being introduced to make these type of transactions simpler and easier and more functional. Results of the study showed that 60% of the 1,000 respondents from Manila, Cebu, Cavite, Rizal, and Bulacan carried less cash in their wallets and 84% had tried going cashless.

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