When the pandemic struck, telcos and fintech companies offered consumers a solution for contactless transactions. The momentum has picked up in the past three years, with transactions such as banking, bills payment, savings, investment, insurance, and lending now happening online.
Other industries have latched onto this trend, with supermarkets and many other establishments offering cashless payment options. E-wallets have evolved into super apps that bring multi-faceted benefits to our daily lives.
Now, more people find an e-wallet more convenient than having a bank account. For instance, to set up an e-wallet account, there's no need to go to an actual bank, fill up some forms, submit required documents, and wait to get approved. Signing up for an e-wallet account is painless, as all you need is an active sim card and a valid ID.
This story is from the February 2023 edition of Gadgets Philippines.
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This story is from the February 2023 edition of Gadgets Philippines.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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