Online transactions on the rise in Philippines
Online transactions are on the rise in Philippines after the central bank urged Filipinos to refrain from cash payment in the context of complicated development of COVID-19.
Digital payments are growing in the Philippines as consumers avoid cash to avoid catching coronavirus (Photo: NikkeiAsia)Hanoi (VNA) - Online transactions are on the rise in Philippines after the
central bank urged Filipinos to refrain from cash payment in
the context of complicated development of COVID-19.
On June 1, the Philippines’ central bank BSP said in April only, the trading volume through two platforms – the PESOnet and Instapay, surged 276 percent compared to the same period in 2020. The trading value also saw an increase of 127 percent.
On June 1, the Philippines’ central bank BSP said in April only, the trading volume through two platforms – the PESOnet and Instapay, surged 276 percent compared to the same period in 2020. The trading value also saw an increase of 127 percent.
For P2P transaction (Peer-to-peer), the
volume and value of transactions rose by 23 percent and 38 percent respectively
compared to just a month ago.
By the end of April 2021, the PESOnet payment platform had 82 financial institutions and Instapay 52. The BSP Central Bank said this is “encouraging” data showing that cashless transactions are growing in the Philippines./.
By the end of April 2021, the PESOnet payment platform had 82 financial institutions and Instapay 52. The BSP Central Bank said this is “encouraging” data showing that cashless transactions are growing in the Philippines./.
You should also see
PM attends ceremony to start work on Him Lam resistance centre renovation project
Prime Minister Pham Minh Chinh on April 17 attended a ceremony to start work on a project to renovate Him Lam resistance centre, a part of the Dien Bien Phu complex of fortifications in the northern mountainous province of Dien Bien.
See more
World
Thailand, New Zealand agree to elevate ties to strategic partnership
Thailand and New Zealand on April 17 agreed to upgrade bilateral ties to a strategic partnership by 2026, on the occasion of the 70th anniversary of bilateral diplomatic ties.
World
Japan’s 2024 Diplomatic Bluebook sketches out cooperation orientation with ASEAN
The Foreign Ministry of Japan on April 16 announced its 2024 Diplomatic Bluebook, which clarifies the country's orientations to expand relations with the Association of Southeast Asian Nations (ASEAN) in general and Vietnam in particular.
World
Indonesia’s Ruang volcano erupts, hundreds evacuated
At least 800 people in Indonesia’s North Sulawesi province have been evacuated after the area’s Ruang volcano has spewed lava and ash clouds into the sky for days, Indonesia’s volcanology agency said on April 17.
World
Bangkok markets join food waste reduction drive
Nearly 200 fresh markets in Bangkok have joined a Bangkok Metropolitan Administration (BMA) campaign to classify food scraps from other waste, which helps reduce carbon emissions by about 142.5 tonnes per day.
World
ASEAN-Korea Centre appoints new secretary-general
The ASEAN-Korea Centre has appointed former Ambassador of the Republic of Korean (RoK) to the Philippines Kim Jae-shin as its new Secretary-General, it announed on April 16.
