Cashless Expo fuels digital payment transformation in Philippines

MANILA, Philippines — The recently concluded Cashless Expo 2023, hosted by GoDigital Pilipinas at the World Trade Center in Pasay City, marked a significant collaboration between the public and private sectors. In partnership with the Department of Trade and Industry (DTI), the Department of Agriculture (DA) and the Bangko Sentral ng Pilipinas (BSP), the expo showcased the benefits of digital transactions, focusing on driving the digital transformation, particularly among micro, small and medium enterprises (MSMEs) and farmers, in e-commerce, digital payment, banking and fintech.

Within the government’s digital transformation roadmap, the e-commerce ecosystem is one of the key sectors poised to drive digital transactions forward while benefiting from faster, easier business transactions.

Carlos Barrera, CEO of leading e-commerce platform Lazada, underscores the company’s commitment to supporting the government initiative, stating: “We are pleased to be part of this initiative supported by DTI, DA and BSP, moving the entire country towards a digitally inclusive society.”

Recognizing the evolving landscape, Lazada has been encouraging its stakeholders to take advantage of cashless transactions including e-wallets, fintech and online banking.

“Over the past few years, we have witnessed a remarkable surge in Lazada shoppers embracing digital transactions. Responding to this trend, we have proactively intensified the security measures and enhanced the user experience, ensuring a safe and seamless cashless shopping environment. We have integrated into our sellers’ training the importance of transitioning to cashless payment for smoother and more secure transactions,” Barrera said.

 “Through Cashless Expo 2023, the Department of Trade and Industry, together with DA and BSP, proudly co-convened a trailblazing event uniting e-commerce, digital payment, banking, and fintech. With Cashless Expo 2023, we are empowering every Filipino, from MSMEs to farmers, to experience the digital revolution, ensuring equal access to financial services, and showcasing the vibrant diversity of our local businesses,” said DTI assistant secretary and Digital Philippines and ecommerce lead Jean Pacheco.

“Our commitment to advancing and promoting the digitization of merchant payments and financial inclusion of every Filipino is echoed in the partnership with GoDigital Pilipinas and the overwhelming support from the private sector.”

The success of this initiative speaks to the promising future of digital payments in the Philippines, promoting economic growth, inclusivity, and innovation. Together, the public and private sectors are driving the nation toward a more connected and digitally empowered future.