(C): Twitter
Google wallet has officially expanded its tap-to-pay in Philippines and this is a huge milestone in the digital payment evolution in the country. As the number of consumers seeking fast, safe as well as hassle-free transactions on their phones grow, this introduction will help millions of Filipinos make their daily payments more conveniently and within a shorter time. The feature allows users to pay without contacting on their Android smartphones or wearables at the terminals that support NFC technology. With the Philippines quickly moving to cashless technologies, the emergence of Google Wallet offers a solid foundation to the digital ecosystem and encourages the expansion of financial inclusion through enhancing the use of a reliable, convenient, and easy-to-use contactless payment system.
The tap-to-pay that Google Wallet introduced to the Philippines gives the users a new secure and modern way to make purchases as opposed to using cash and cards to make a purchase. The service enables the Android users to store their credit/debit cards electronically and pay using a mere tap on the NFC-powered terminals. This is a step in line with the national transition to digital payment solutions particularly with consumers adopting quicker and convenient ways of making purchases in store, transportation fees and daily expenditure.
Tap-to-pay is one of the primary benefits of Google Wallet since it is much more secure. All transactions are carried out with the help of device specific numbers and dynamic security codes, so the real card details are safe. The users are also able to foster quicker checkouts, and no need to use physical cash or cards. There is also Google Wallet that supports loyalty cards, tickets and passes making it a well-rounded digital payment device.
The entry of Google Wallet will enhance the use of cashless in the Philippines. The merchants are able to enjoy the ease of flow of their customers with the consumers enjoying easier and secure way of payment. With the involvement of financial institutions into the platform, there is an anticipated increase in the number of banks that will be able to support a tap-to-pay transaction, which will further promote the process of digital transformation in the country.
Tap-to-pay is now available in Google Wallet, which means that the Philippines is one step closer to being a digitally enabled economy. The ease of contactless payments will make more users consider using this service, which will, in turn, facilitate the widespread adoption of digital wallets and the ability to realize the long-term objective of the country transitioning to a fully cashless future.
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