The Rise of Cashless Transactions in PH New Normal Era
October 4, 2020
Miscellaneous
Recently, GCash reported an increase of 1000% rise of money transfer due to the influx of Filipinos using the service during this new normal era. This means most of Filipinos are opting to use a revolutionary way to do cashless transactions in the Philippines.
What does it mean for us Filipinos? This means that we welcome the use of cashless transactions in our daily lives. Covid19’s mandate to avoid physical contact enables our economy to resort to cashless, whether it’s bank transfer, mobile wallet payments, and cashless money transfer.
A good example is the evolution of online selling. Before, most of buyers are resorting to pay thru COD (cash on delivery). But now, using ewallet platforms such as GCash, Paymaya and more, buyers can pay their goods to the sellers thru these platforms.
Another good case is the payment of grocery items in the supermarket. Before, if you don’t have any credit card, you will be forced to pay thru cash. Now, using the ewallet platforms, you will be able to pay them by just providing your barcode generated by your mobile app.
And last good case is the payment of items in convenience stores such as 7-11. Before, you need cash to pay those items. Because of these platforms, you can pay using your ewallet.
