Convenience experienced by consumers on their financial transactions during the pandemic is expected to further boost electronic commerce post-pandemic.
Dan Wolbert, Visa country manager for the Philippines and Guam, sees e-commerce in the country to “continue to thrive” even after the pandemic.
Wolbert also expects more businesses to operate on digital platforms as more people turn to online shopping for their needs.
Visa’s 2020 Consumer Payment Attitudes study, an annual online survey being conducted in several Asian countries, showed that 52 percent of the 1,014 Filipinos surveyed nationwide said they shopped online for the first time during the pandemic through mobile apps and websites.
Also, about 43 percent of the respondents said they made their initial online purchase through social media channels. The bulk of these involve food and groceries, bills payments, and pharmaceutical purchases.