THE “cashless revolution” in the Philippines should happen now as the country ramps up the adoption of digitalization, according to the top official of Ayala-led Globe Telecom Inc. Ernest Cu, Globe president and chief executive officer, saw cash as a “pain” for businesses as it makes entrepreneurs vulnerable to losses. According to Cu, cash transactions also bar the growth of telemedicine in the Philippines, a service which has been gaining traction amid the coronavirus disease 2019 pandemic. Globe said the number of app registrations in the period soared by 250 percent, while the number of installations also jumped by 200 percent. The mobile wallet is operated by Mynt, which is a partnership between Globe, Ayala Corp. and Ant Financial Service Group.
Source: Manila Times June 02, 2020 17:12 UTC