'Digital' Filipinos to stick with cashless payments, online shopping in new normal: Visa study

Jessica Fenol, ABS-CBN News

Posted at Jul 17 2020 10:55 AM

MANILA - Majority of Filipinos plan to keep on using digital payments and e-commerce even after the coronavirus pandemic is contained, a Visa study released Thursday showed.

At least 70 percent of Filipino respondents said they intend to stick with digital payments instead of cash when the crisis is over, a Visa study conducted in 40 countries worldwide showed.

Asia Pacific preference to digital payments is at 78 percent, compared to the global average of 68 percent, it said.

"In this new normal, we’re seeing a shift – Filipinos are becoming more digital, and the COVID-19 situation has forced consumers to adopt this change in behavior," Visa Country Manager for the Philippines & Guam Dan Wolbert said.

A total of 73 percent of consumers said they were likely to "increase" or "sustain" their current online shopping behavior compared to 72 percent global average, Visa said. 

Thirty-seven percent of Filipino respondents said online shopping is a positive experience, compared to 35 percent global response, the study showed.

One in 6 active Visa cardholders also made an e-commerce purchase for the first time this year, shopping for essential goods, medicines and paying bills, the financial firm said.

Online shopping and cashless payments surged in the Philippines after the COVID-19 lockdown was imposed in March. Delivery of essential goods were allowed, while cashless payments were encouraged to reduce human to human contact. 

Metro Manila remains under general community quarantine until July 31, where services, businesses and restaurants are operating at a limited capacity.