Philippines gears up to become a cashless society

 

A cashless society is one where cash is not the primary mode for financial transactions. Instead, transactions are settled electronically using credit or debit cards, mobile or online payment apps and even QR codes. 

 

At the height of the COVID-19 pandemic, cashless payments proved useful when mobility was greatly limited due to health and security reasons. Online banking and digital payments saw growth in usage as both became options to branch banking for many Filipinos.

 

The Bangko Sentral ng Pilipinas (BSP) considers cashless payments not only as an alternative mode to perform banking transactions, but also to promote financial inclusion. It serves as a gateway especially for unbanked and underbanked Filipinos, to other financial products such as savings, loans, and insurance aside from those offered through traditional channels.

 

Making Filipinos financially and digitally savvy

 

“To make cashless payments an active tool to promote financial inclusion, it needs to be easy to use and accessible for everyone. With our online banking and cashless payment platforms, BDO provides alternatives for those who wish to do their financial transactions digitally,” said BDO consumer banking group digital banking head Roy Villareal.

 

BDO primed its digital banking channels and launched its BDO Online and BDO Pay mobile apps not just to address the sudden demand for contactless financial transactions during the pandemic, but to make bank services more accessible and convenient in the new normal. BDO Online and BDO Pay allow BDO clients to pay their bills, transfer money, and monitor their bank account through their computers or mobile phones.

 

“BDO wants to integrate financial wellness into the growing digital lifestyle of Filipinos. Mobile connection in the country is more than 100% of the country’s total population. Aside from widening our network of branches and ATMs across the country, BDO provides digital banking solutions that are accessible to Filipinos via their smartphones,” said Villareal.

 

“BDO’s mobile apps allow our clients to have the financial information they need right at their fingertips.  More than the convenience, what these digital solutions offer is control over one’s finances,” he added.

 

With its new mobile apps, BDO aims to help the BSP promote cashless payments and advance financial inclusion in the country.    #####         

 

 

Cashless payments proved useful when mobility was greatly limited due to health and security reasons during the height of the COVID pandemic.

Bakit mahalaga na nasa bangko ang ipon

 

Maraming pinoy pa rin ang hindi nakasanayan ang qpag-iipon sa bangko.

 

Kadalasan, nagdadalawang-isip sila na pumasok sabangko sa paniniwalang maraming requirements at mataas ang initial deposit. Habang ang iba naman ay kuntento nang nakatago sa bahay ang kanilang ipon napera para “easy access” kapag may biglaang gastusin.

 

Pero ang payo ng mga eksperto, mas mabuti na nasabangko ang perang naipon para iwas sa “risk” o panganibna mawala o manakaw ito. Ang dapat lamang gawin ay bisitahin ang bangko at mag-open ng account.

 

Ano nga ba ang benefits ng pagkakaroon ng account sabangko?

 

• Convenience – Dahil sa technology ng bangko, maaarina magpadala ng pera nang hindi na kinakailanganlumabas ng bahay. At kung ang account ay may kasamang ATM card, pwede na rin itong gamitinpambayad ng mga bilihin basta’t may point of sale (POS) terminal.

• Ligtas ang ipon – Ang perang nasa bangko ay protektado mula sa nakaw, trahedya at kalamidad. Dagdag pa rito, ang perang nakadeposito sa bangko ay “insured” kaya anuman ang mangyari, tiyak namaibabalik ang perang naipon.

• Paraan para madagdagan ang ipon – Dahil ang bangkoay nagbibigay ng interest o tubo sa nakadepositongpera, puwedeng mapalago ang ipon overtime.

• Access sa credit o loan – Ang bangko ay nagbibigay ng access sa mga depositors para makapag-loan pampatayo ng bahay, makabili ng sasakyan, o kaya’ydagdag pondo para sa negosyo. 

• Recorded lahat ng transactions - May record ang lahatng transactions kapag may bank account. Dahil dito, mas madaling makontrol ang pag gastos. Mahihiwalayang pera na panggastos at pera na pang emergency fund, o kaya ang pera na iniipon para sa isangmahalagang bagay.

 

“Para sa maraming Pilipino, kakaiba at bago pa rin angkaranasan ng pagkakaroon ng savings account,” paliwanag ni Jesus Antonio S. Itchon, presidente ng BDONB. “Kaya ang priority namin sa BDONB ay dalhin samga malalayo at liblib na lugar ang banking services para sila ay mapagsilbihan at ma-experience ang benepisyo ng pagkakaroon ng account sa bangko.”

 

Para malaman ang advantages at benefits ng pagkakaroon ng account, bumisita at magtanong sapinakamalapit na BDO Unibank o BDONB branch sainyong bayan.