A Public Market is Turning 'Cashless' in the Philippines

[Indrawan77]

Its great to see more and more countries ready to be cashless, cashless payment can be more efficient and fast way to do transaction and every people in society now looking for more and more quick way to make transaction and cashless payment could eliminate the cost to produce the fiat especially the coin, and this cashless payment could be the trigger for crypto adoption

[zhea]

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments.

It is good to see that even a third world country like the Philippines is slowly adapting the cashless society though there are still some people who are reluctant to use this kind of technology and still prefer the conventional method but with persistent education by the people in charge, i am sure they will adapt.

[dongyi17]

  This is really quite amazing of all places and establishment in the Philippines its in the public market that start its cashless payment...and this is a good sign too that people are getting to know digital currency and began to adapt it in their business. This is also one indication of growing economy.

[darklus123]

Its great to see more and more countries ready to be cashless, cashless payment can be more efficient and fast way to do transaction and every people in society now looking for more and more quick way to make transaction and cashless payment could eliminate the cost to produce the fiat especially the coin, and this cashless payment could be the trigger for crypto adoption

It isnt still unless the transaction process will be solved. Mind that the main reason why this people uses this type of payment option because it is way more convenient than bringing physical money. Now for the current situation of bitcoin it directly defeat the purpose of being convenient in any ways

[paparexon0414]

My update to my last post in the same thread. I just saw this in one of the advertisement of tge said apps and it so cool. I am thinking this is not very useful tho, because most of the people who but goods in the markets are most commoners and we can say that tech is not in their first priority. But thinking again, my mom is also now a techie and she buy her ingredients to the market. But she still uses her traditional way of paying, physical money. Maybe someday it will be widely use.

[bisdak40]

It is usually faster to enter a cashless society in a small country. This should be just the beginning. It will take years to complete the cashless society. Countries with large land areas may be the slowest in the cashless social process.

I agree that it is usually faster to become a cashless society if a country is small and also the people is well educated but in my view the Philippines is not a small country. It maybe small in terms of land mass but population wise, i can consider it as a big country. Education is one factor to consider if you want to become a cashless and continuous seminar top the people by the government could make this faster. Philippines is slowly becoming a cashless society and with it's population and interest of the people, the trend of it to become a cashless society remain slow.

[HabBear]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

It's great to hear that the Philippines is taking this big step toward embracing the digital world! Use of crytpocurrency is just around the corner! Widespread use, that is. I know there's a decent contingent from the Philippines cruising around this site.

[Dondont]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

https://pia.gov.ph/news/articles/1015376

--

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments. While this is not entirely related to cryptocurrency, it's as if the people are slowly seeing the convenience and security cashless payments offer to their everyday lives. For years, scan-to-pay stores are just confined within the walls of malls and luxurious places but it seems that we're slowly bringing it to the masses and eventually, it will be the norm to pay only with our smartphones and pre-loaded accounts--and in the future, possibly even cryptocurrencies.

in my opinion, scan-to-pay and no cash payments have started to develop in Q2 2018, not only in Manila, in other developing countries that this has been applied even to some traditional markets. The use that is quite easy and efficient is very beneficial for both parties

[Nivir]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

https://pia.gov.ph/news/articles/1015376

--

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments. While this is not entirely related to cryptocurrency, it's as if the people are slowly seeing the convenience and security cashless payments offer to their everyday lives. For years, scan-to-pay stores are just confined within the walls of malls and luxurious places but it seems that we're slowly bringing it to the masses and eventually, it will be the norm to pay only with our smartphones and pre-loaded accounts--and in the future, possibly even cryptocurrencies.

in my opinion, scan-to-pay and no cash payments have started to develop in Q2 2018, not only in Manila, in other developing countries that this has been applied even to some traditional markets. The use that is quite easy and efficient is very beneficial for both parties

Of course. What do you think? In more technology developed countries like Korea should be more advance when it comes to payments too. The news is just part of how fast the Philippines is turning into a cashless country. Lazada and Shopee are also getting more popular especially this Christmas season.

[pinkflower]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

https://pia.gov.ph/news/articles/1015376

--

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments. While this is not entirely related to cryptocurrency, it's as if the people are slowly seeing the convenience and security cashless payments offer to their everyday lives. For years, scan-to-pay stores are just confined within the walls of malls and luxurious places but it seems that we're slowly bringing it to the masses and eventually, it will be the norm to pay only with our smartphones and pre-loaded accounts--and in the future, possibly even cryptocurrencies.

Think about which corporation or bank in that country controls mobile payments and why did the government enable it?

BTC was always there but why is no one using it in that public market?

[Jack2fernando]

This is really quite amazing of all places and establishment in the Philippines its in the public market that start its cashless payment...and this is a good sign too that people are getting to know digital currency and began to adapt it in their business. This is also one indication of growing economy.

Well this is happening without any hurdle because the Venezuelan market is a bit in dire need of this new system and this looks like it will increase the efficiency of the market and will abolish the extra expenditure.

[darklus123]

Think about which corporation or bank in that country controls mobile payments and why did the government enable it?

Obviously  gcash and paymaya were managed by the two largest network providers in the philippines. Everyone uses either of the network and what makes it more convenient is that since everybody is using this two networks you can load up your wallet thro mobile loads.

And yes, this is highly moderated and governed.

BTC was always there but why is no one using it in that public market?

You are a bitcoin user you should know the answer. If I am the vendor i would really not sell it using bitcoin. If ill sell an egg for bitcoin that equates to the value of peso during that tine(eg. 6 pesos) then at the end of the day suddenly the value of that btc ammount drops to 3pesos worth of bitcoin. That is a pure disaster, plus for the current bitcoin situation. If you are the payer you don't want to wait for several hours before you can leave because it took hours before your transaction was confirmed

[Jesabela04]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

https://pia.gov.ph/news/articles/1015376

--

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments. While this is not entirely related to cryptocurrency, it's as if the people are slowly seeing the convenience and security cashless payments offer to their everyday lives. For years, scan-to-pay stores are just confined within the walls of malls and luxurious places but it seems that we're slowly bringing it to the masses and eventually, it will be the norm to pay only with our smartphones and pre-loaded accounts--and in the future, possibly even cryptocurrencies.

They are actually using Gcash and paymaya which is just a way of transacting through our latest technology which still involves fiat. On the other hand, it is still an advantage because most of the Filipinos are getting into the latest trend of transacting and it would be easier for them to adapt cyptocurrency in the future.

[santiPOGI]

Big development in cashless society is being driven now in many market and malls.
Paymaya and GCASH is doing great and many more to come.
Also PALAWAN EXPRESS now post their new system on buying and selling BITCOINS on their branches.
I think COINS.PH will be available to use in many market now.

[cizatext]

It a good development to the Philippine because most part of the world have already option in to cashless society where people don't have to move with cash any more, you can pay for goods and services in the market place using any online means either point of sale (POS) and other online payment method. I believe in the near future people are going to option in to the use of blockchain which will lead to crypto currency adoption.

[btcjocan]

'The new Marulas Public Market in Valenzuela City is the first-of-its-kind ‘DigiPalengke’ initiative in Northern Metro Manila where an entire marketplace is equipped to accept mobile cashless payments.'

https://pia.gov.ph/news/articles/1015376

--

This is quite interesting since even a public market where most of the time common folk buy their everyday needs is accepting digital payments. While this is not entirely related to cryptocurrency, it's as if the people are slowly seeing the convenience and security cashless payments offer to their everyday lives. For years, scan-to-pay stores are just confined within the walls of malls and luxurious places but it seems that we're slowly bringing it to the masses and eventually, it will be the norm to pay only with our smartphones and pre-loaded accounts--and in the future, possibly even cryptocurrencies.

This is very interesting in which cashless payments in a public market has being equipped.Seems a very good start that next to this is adopting cryptocurrency and making it popular in different places.Time and technology has gone so far lets just see where it will brought us and watch the future.

[Harlot]

PayMaya is pretty aggressive on offering they services mostly they always partnered up with the government. They even have their own train card/Visa debit card in accessing our railway system. This is also not the first time a cashless card company had entered the market, I forgot its name but they also have offered their card in various universities in the country but the bottomline is it failed. Hoping that PayMaya won't have the same fate as the other company had. But I personally don't think the Philippines is the right market for this.

[harizen]

PayMaya is pretty aggressive on offering they services mostly they always partnered up with the government.

Some GCASH users transfer to Paymaya already according to the stats that my friend told me working on Globe starting from Q1 of this year.

But overall, GCASH is still leading on satisfactory rating compare to Paymaya (even during the days of Smart E-Money). Good thing Paymaya thinks of unique way and they bring the service into a public market. That will surely boost their ratings.

Just wondering how those vendors there agreed on adding that service on their stalls as we all know on that kind of business, direct fiat payment is way more better. Maybe perks?

[Bonsaiav]

Just wondering how those vendors there agreed on adding that service on their stalls as we all know on that kind of business, direct fiat payment is way more better. Maybe perks?

I think they might want a new nuance in transactions, or are trying to revolutionize the payment mode that has been in effect so far from fiat to digital. If this trial can work well, of course this will make Manila become the second cashless country after China. And most likely, crypto currencies will be very easy to accept and can be transacted by people there.

[yusupjatigumilar]

I think for the non-cash payment system it has developed several years ago, but still uses a conventional bank system, where transactions are made by transferring from an account to another account, along with the development of conventional bank system technology is now being abandoned and turning to the blockhain system who do have transaction fees that are very frustrating because they only need miners to confirm their transactions, the transactions carried out do not even have a limit on the amount and distance,