Global Money Week is an annual global initiative raising awareness about the importance of financial literacy and inclusion for young people and adults.
Although cash remains a commonly used payment method, the study highlights that a substantial 82% of Filipinos attempted to embrace cashless transactions in 2022.
The 2023 program will focus on developing solutions in the following areas: Web 3.0, global money movement, embedded finance, merchant and small business enablers, and open banking solutions.
Digital payments firm Visa announced on Monday, Sept. 2, the appointment of Jeff Navarro as its new country manager for the Philippines and Guam, succeeding Dan Wolbert, who has moved to a new role in Visa’s North American operations.
The program simplifies the onboarding process and will enable SMEs to sign up with PayMongo and start accepting digital payments within three to five working days.
The study from Visa showed that 7 out of 10 Filipinos were shopping more on social media channels compared to websites and apps. In addition, it showed that 61 percent of Filipinos have actually been patronizing online, home-based businesses compared to the 53 percent that shop in large online marketplaces.
The approximately two million Filipinos living and working in the US will now be able to use MoneyGram to send money via Visa Direct either on MoneyGram’s website or mobile app, to any PayMaya account holder in the Philippines using their 16-digit Visa physical or virtual card number.
Visa has partnered with Shopee to help support local small businesses who are selling on e-commerce platform. The tech firms will be creating campaigns to enable Visa cardholders to avail discounts when they shop at local merchants in Shopee.
