How e-money is affecting our lives

Visa

Posted at Aug 12 2022 11:33 AM | Updated as of Aug 15 2022 04:49 PM

Shutterstock, purchased by Visa
Shutterstock, purchased by Visa

Digital economy has revolutionized our world. E-money has changed our lifestyle, habits, preferences, and even the way we usually transact. It is an innovation that opened opportunities for many businesses as well as individuals by easing their life in many ways.

According to research* 70% of consumers who participated in the study increased their usage of different mobile banking platforms, 83% of Filipinos are interested in using contactless card transactions, and 12% of respondents will be less likely to transition back to using cash after the current health crisis – led by the Gen Z and Gen Y age groups. Moreover, 45% have transitioned to purchasing through livestream – this shows that consumers have changed over the years because of the current health crisis around the world.

E-commerce came to its peak and is continuously growing with people using more cashless transactions and preferring to purchase online most of the time. The digital transformation also made it possible for restaurants, delivery apps, and even remittances to receive and send money quickly and conveniently.

However, challenges still remain. With the boost in e-money usage, personal and financial security, privacy, and transparency are being questioned. Some have fallen victims to scams, hacking, or were affected by system glitches where their money suddenly becomes afloat and is not transferred to where it needs to go, like business payments and government transactions. This can cause a lot of stress and trouble for customers who only wanted to make things faster for them.

That is why Visa is paving a way for secure, fast, and convenient ways of handling your money digitally. 

 

Visa, connecting everyone to everyone else around the globe. Video source: Visa

Visa, one of the world's leaders in digital payments, offers a network that opens access to everyone by powering transactions beyond the usual consumer payments. From FinTechs to banks, merchants, mobile money operators, and governments, Visa is collaborating with various stakeholders to help ease the movement of money while at the same time driving the adoption of digital currency and financial inclusion. With cutting-edge technology, Visa is co-creating innovative products and solutions that are shaping the future of commerce.

As a trusted engine of commerce, Visa is also uplifting everyone, everywhere – by connecting people to one another with fast, secure, convenient remittances, and even the small local businesses to the globe.

With Visa's technology remittances can be sent and received directly through Visa cards, while local businesses have the ability to receive payments from anywhere in the globe. Sellers can set up their own online shop or sign up and be part of an e-commerce platform for sellers and accept online payments with Visa. People can send money to friends and family anywhere in the world as easily as they can send a text message. Gig economy workers and others may access their money as soon as they earn it. 

Both sellers and buyers are also protected from online fraud as Visa has multiple layers of security to help ensure seamless, secure, and convenient transactions. 

Travelers and those who are always looking for new experiences can also use Visa cards and receive discounts and points that can be redeemed in partner merchants anywhere in the world.

 

Discover local businesses and support families who rely on it with Visa's digital payment methods. Video source: Visa

With support available 24/7, you know that there is always someone there to assist you with any concern.

Visa is revolutionizing the way people transact money, while helping local businesses, brands, and uplifting the lives of individuals across the country and abroad.

To know more about Visa's services, visit their website

*Info source: Visa consumer habit

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