Study: Pinoy yuppies envision a cashless society

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According to Visa?s ?Connecting with the Millennials? study, eight out of ten Filipino Millennials think that they will one day be able to do all their shopping and bill payments online. Sixty-nine percent says these payments will be possible through their mobile phones. The study featured interviews with 500 young urban Filipinos who belong to higher income groups. Millennials are defined as people aged between 18 to 28 years old (born between 1982 and 1992). Iain Jamieson, Visa country manager for the Philippines and Guam, said: ?It?s no surprise that most Filipino Millennials are digitally connected and heavily reliant on technology. These young people are growing up in a digital world, and they are the early adopters of new technology like contactless and mobile payments that make our lives easier. For Filipino Millennials, they look to digital currency as the future, offering a better and more secure way to pay.? Millennials lead active lives, spending 4.6 hours multi-tasking on weekdays, while weekends are even more packed with seven hours spent multi-tasking. Almost half of the respondents name their personal computers or laptops as a must-have gadget, while 37 percent prefer a smartphone. Seventy-two percent of Millennials have tried online shopping, and 28 percent of this group purchase an item online at least once every month. The top payment methods for online purchases are credit cards (26 percent), cash on delivery (13 percent), or debit cards (10 percent). ]]>

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