Senator Jinggoy Backs Calls To Expand Social Pension For Senior Citizens

Sinuportahan ni Senator Jinggoy ang hakbang na i-target ang mga senior citizen ngayong panahon ng krisis. Dapat mas maraming Pilipino ang makinabang mula sa social pension.

DBM Releases Budget For Government Workers’ PHP7 Thousand Medical Allowance

Pinakawalan na ng DBM ang badyet para sa PHP7,000 na medikal na allowance ng mga manggagawa sa gobyerno para sa 2025.

DMW, Recruitment Agencies Boost OFW Protection In Kuwait, Kingdom Of Saudi Arabia

Ang DMW at mga recruitment agencies ay nagtutulungan upang mapabuti ang proteksyon ng mga OFW sa Kuwait at Saudi Arabia. Ito ay isang mahalagang hakbang.

Growing Your Business In The Bustling Bacolod Township Of Saludad

With an expanding business process outsourcing sector, Saludad stands out as a future hub. The thriving commerce in Bacolod City sets the stage for a vibrant economic climate.

Filipino Consumers Turn To Industry Leaders For Contactless Payments: Mastercard PH

Nakapag-contactless payment na ba ang lahat? Mastercard Philippines is committed to driving contactless solutions and digital payment usage among consumers and businesses alike in the country.
By The Philippine Post

Filipino Consumers Turn To Industry Leaders For Contactless Payments: Mastercard PH

0
0

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

The latest Mastercard Philippines Contactless Study has found that even though cash remains the main payment mode in the country, accounting for one-third of consumers’ monthly spending, contactless payment methods are widely recognized by consumers.

The study revealed that more than 70 percent of those with contactless cards used their contactless card in-store over the past year with 40 percent making a contactless payment purchase at least once a week. Additionally, 40 percent of those who did not use contactless card payments in the past year cited security concerns as their reason for not using the payment method more often. Hacking and wireless skimming were the top security concerns for 86 percent and 82 percent of consumers, respectively.

A key highlight in the study is the important roles that different stakeholders play in helping consumers to adopt this new payment technology. 21 percent of cardholders first learned to use their contactless cards through self-discovery, while 19 percent obtained instructions from bank employees, and 17 percent were informed by cashiers. This trend indicates that banks and merchants play an important role in driving awareness and confidence in contactless payments.

“Mastercard is ramping up efforts to help issuers, acquirers and merchants further drive contactless transactions by providing these industry players with data, insights, best practices and execution support starting with a deeper understanding of consumers’ motivations and concerns when choosing payment methods,” said Rowell Del Fierro, Country Manager, Philippines, Mastercard.

The study notes that 86 percent of consumers in the country are aware of contactless cards, with faster transactions and hygiene being the key factors driving contactless cards adoption. A large number of consumers at 46 percent say that they used contactless cards as it is faster than other payment methods. On the other hand, 38 percent of consumers use contactless cards for hygiene concerns.

“To accelerate the uptake of contactless card payments, Mastercard is also closely working with industry partners, to implement initiatives, programs, and technology solutions that successfully enable businesses of all sizes to meet evolving needs of today’s customers,” added Del Fierro.

Mastercard is committed to drive contactless solutions and digital payment usage among consumers and businesses alike. This is in support of the thrust of the Bangko Sentral ng Pilipinas (BSP) to promote the digitalization of payments in the country and to convert 50 percent of the total volume of retail payments into digital form by 2023.