SM supports BSP; steps up cashless shopping online, in 80 malls

DIGITAL payment has been ubiquitous in the Philippines. In the past two years, there has been a shift toward a cash-lite economy, as nationwide cashless payment usage increased by 30 percent in 2021 from 10 percent pre-pandemic. The Department of Trade and Industry also said 9 out of 10 Filipinos were familiar with cashless payment brands.

Not only was it convenient, but digital payment has also been regarded as a safer, more inclusive way of enabling Filipinos to access various services.