The Role of Mobile Wallets in Promoting Cashless Transactions: A Case Study of the Philippines
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- William P. Rey ORCID: orcid.org/0000-0002-1345-2335 3 &
- Kieth Wilhelm Jan D. Rey ORCID: orcid.org/0009-0000-2087-3122 3
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- International Conference on E-Business and Applications
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This study investigates how mobile wallets are driving cashless transactions in the Philippines. We find a notable increase in adoption due to convenience, security, and accessibility. Challenges include digital literacy gaps and data privacy concerns. Mobile wallets are promoting financial inclusion, empowering those without traditional banking access. The study highlights the importance of collaboration among stakeholders for wider acceptance. Looking forward, emerging technologies like blockchain and cryptocurrencies have the potential to enhance the mobile wallet ecosystem. In conclusion, this research emphasizes the transformative power of mobile wallets for a more inclusive and cashless future in the Philippines. Overcoming challenges and embracing opportunities is crucial for unlocking their full potential.
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Rey, W.P., Rey, K.W.J.D. (2024). The Role of Mobile Wallets in Promoting Cashless Transactions: A Case Study of the Philippines. In: Lee, P.M., Lee, G.M. (eds) Selected Papers from the 10th International Conference on E-Business and Applications 2024. ICEBA 2024. Springer, Singapore. https://doi.org/10.1007/978-981-97-3409-2_14
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DOI : https://doi.org/10.1007/978-981-97-3409-2_14
Published : 09 August 2024
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IMAGES
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The use of E -wallets in the Philippines experienced remarkable growth in recent years. This study investigated the key factors influencing the intention to use E-wallets among Generation Z and Millennials in the country, employing an extended Technology Acceptance Model (TAM) framework.
Against the backdrop of greater smartphone and internet penetration across the emerging markets, electronic wallet (e-wallet) has emerged as a reliable and well-known digital payment method....
Bangko Sentral ng Pilipinas (2020) reported a 14% increase in e-wallet payments in 2019 and 20.1% in 2020 in terms of volume. In terms of its value, e-wallet payments have increased from 24% to 26.8% during the same period. In 2020, government-related payments (G2X) is reported as the most cash-lite payment sector.
Today, GCash serves as a cornerstone of financial inclusion in the Philippines, offering a versatile platform for online and offline transactions, bill payments, money transfers, and mobile commerce. This study explores GCash's evolution from a mobile wallet to a cultural phenomenon, impacting societal norms, economic behaviors, and financial ...
This paper aims to investigate the factors that influenced the mobile wallet adoption of generation X in the Philippines that focuses on perceived risk, ease of use, rebates, and social...
In this study, the factors affecting the adoption of digital payments were examined. From July 2020–January 2021, an online survey was conducted on a sample of 433 respondents with at least supervisory level positions.
This study investigates how mobile wallets are driving cashless transactions in the Philippines. We find a notable increase in adoption due to convenience, security, and accessibility. Challenges include digital literacy gaps and data privacy concerns.
According to BSP data, more Filipinos were adopting e-wallet or e-payment systems more than credit cards in 2018. Platforms such as GCash and PayMaya are option for Filipinos to do digital...
The use of digital e-wallets is prevalent in the Philippines as people intend to pay without using physical money or bank-issued cards. This study aims to determine the usability of GCash, Maya, and GrabPay and the satisfaction of its users.
In this study, intention to use an e-wallet displayed a mediating effect on the relationship between perceived usefulness and the adoption of an e-wallet; the coefficient of perceived usefulness toward the adoption of an e-wallet was 0.066, with a p-value = 0.000.