FINTECH NATION

THE PHILIPPINES’ JOURNEY TOWARDS A CASHLESS, CONNECTED ECONOMY

- Gabriel Pe

A lot has changed in the world of fintech since I started writing for Gadgets Magazine.

It's been one of the fastest-moving tech sectors over the past six years, marked by rapid innovation and widespread adoption.

Five years ago, I set out to try to live a cashless lifestyle, spending months relying solely on card payments, e-wallets, and app-based transactions. At the time, cash was still king, and digital payment options were niche, often buggy and inconsistent. What I discovered then was that the infrastructure was already in place, but something was still holding it back. Fast forward to today: digital payments are now widely accepted and deeply integrated into everyday life. This shift was driven by several factors: the pandemic, increased recognition of fintech's potential, and its seamless incorporation into daily routines.

The growth of fintech solutions, while initially gradual, accelerated dramatically during the COVID-19 pandemic. With physical distancing a necessity, e-wallets quickly became mainstream. What was once a secondary payment method began sharing the spotlight with cash.