Digital economy helped the Philippines cope with the pandemic

A recent study by the World Bank and the National Economic Development Authority suggested that the use of digital technologies such as digital payments, e-commerce, telemedicine, and online education helped the Philippine economy cope with social-distancing measures, business continuity and public service delivery.

The findings jibe with the 2020 PayPal Consumer Insights Survey conducted among 500 local respondents with the objective of identifying the impact of COVID-19 on local payment behaviors.

PayPal said, “While cash remains the most dominant method of payment in the Philippines, circumstances brought on by the pandemic have given digital payments a more prominent role in the everyday lives of Filipinos.”

It added, “As the pandemic continues, health and safety need to be a fundamental part of our everyday decisions. But when you consider continued usage of digital payments, convenience and security also play vital roles.”

Source: https://business.inquirer.net/311579/pandemic-accelerated-ph-consumers-shift-from-cash-to-digital-payments

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