Fintech is driving digital adoption in PH

THE pandemic has indeed accelerated digital transformation among Philippines companies as well as the adoption of digital services among Filipino consumers. Driven by work-from-home arrangements, distance learning, and social distancing, more Filipino consumers are buying and paying online and sending money electronically to others.

The improvements in the telco infrastructure bodes well with Filipinos increased appetite for digital services. In fact, we have seen perceptible improvements in mobile internet speeds at the start of 2021. In the latest Speedtest Global Index report of Ookla in January 2021, the internet download speeds in mobile and fixed broadband are 25.77mbps and 32.73mbps, respectively. These are big jumps from the August 2020 report, which pegged the mobile and fixed broadband internet speeds at 16.44mbps and 25.34mbps, respectively.