A Public Market is Turning 'Cashless' in the Philippines

[wuvdoll]

I know we have been moving fast with corporation adoption in bitcoin considering there has been a lot of talks about ETF and CBOE and CME and what not however this is the real adoption we should be focusing on. Mobile payments are getting more and more famous every single day and there are more places that accept that kind of stuff in the world right now than ever.

Hence, I think we should be really focusing on creating a mobile app that allows us to pay from the traditional POS machines with bitcoin but the owner gets fiat currency. That way there will be millions of people who are capable of buying anything they want with bitcoin and we wouldn't have to wait around until the shop owners start accepting it. Even if stores don't take bitcoin as a payment you would be capable of paying with it nevertheless. There are debit cards like that but we need the mobile app version of it.

[jeromix]

Yes, this could be the start of something new that will going to adapt not only in the Philippines but this is global. In fact Jack Ma of Alibaba group and companies are already stating about the cashless society. This might be very possible but I do not think that it will going to be an absolute cashless for there could be sometimes that fiat money is really needed for the exchange.

[Ranly123]

'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.

It's gonna be a good evolution in the market especially in the Philippines where the economy has a lot of opportunity to grow. Adopting a cashless society is going to be interesting and hopefully the president will see it as an opportunity and not a hendrance to economic success.

[Experia]

there is nothing new in this field many markets here are accepting paymaya as a mode of payment it seems like new because they put it in the public market.

[batang_bitcoin]

Great adoption for the technology itself with the use of Paymaya.

This will be more interesting if this public market will be exposed to acceptance of cryptocurrency too. This is just the start and soon people will get attached to this type of payment system where they are no longer needed to bring cash but only with their smartphones.

[darklus123]

Although it seems good. I am still hoping til now that paymaya will consider my suggestion to incorporate bitcoin as an option of loading their wallet.

I've contacted them a year ago about that. They've had a good feedback that they will consider it but still have to discuss with the team.

As of now I am not quite surprised about this kind of act. Paymaya and Gcash are being widely used in most of the malls in the philippines. In fact there is one bus company on cebu right now that releases new buses that only accept payments through gcash

[Nasty23]

Great adoption for the technology itself with the use of Paymaya.

This will be more interesting if this public market will be exposed to acceptance of cryptocurrency too. This is just the start and soon people will get attached to this type of payment system where they are no longer needed to bring cash but only with their smartphones.

Yes, this will be a start for the acceptance of digital payment in our society on which possibly in the near future the cryptocurrency are the ones of its payment options that every people can choose on which can surely change their financial status in life.

[millionaireshs]

'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.

We can see a lot of malls worldwide are turning into digital. Like what you have mentioned about scan-to-pay systems. You know everything comes with a process this will not done overnight, it takes time like you said. And as the time goes by, new discoveries will take place especially in the world of internet like in crypto.

[batang_bitcoin]

Great adoption for the technology itself with the use of Paymaya.

This will be more interesting if this public market will be exposed to acceptance of cryptocurrency too. This is just the start and soon people will get attached to this type of payment system where they are no longer needed to bring cash but only with their smartphones.

Yes, this will be a start for the acceptance of digital payment in our society on which possibly in the near future the cryptocurrency are the ones of its payment options that every people can choose on which can surely change their financial status in life.

These cashless transactions are regulated and monitored by the government.

So if that day would come when these cashless transactions not only for this market including crypto's, it will also be monitored. Seems like we are really going to that point where most of the transactions are going digital. Even those who aren't aware of it, will be forced to adapt.

[btc_angela]

Great adoption for the technology itself with the use of Paymaya.

This will be more interesting if this public market will be exposed to acceptance of cryptocurrency too. This is just the start and soon people will get attached to this type of payment system where they are no longer needed to bring cash but only with their smartphones.

Yes, and this kind of initiative from the Philippine government might be a good headway and might pave for the adoption or used of crypto specially bitcoin in payment services like Paymaya. I'm glad that the Philippines is really moving progressively and I have no doubt that one day we it will rise as one of the Tigers of Asia again. Best of luck to al Filipinos..

[mcTether]

The Philippines are just creating an endless excitement in me. I wish every country can just act the way the Philippines have embraced crypto. BTC would have been over 50k USD by now.

[darklus123]

The Philippines are just creating an endless excitement in me. I wish every country can just act the way the Philippines have embraced crypto. BTC would have been over 50k USD by now.

wrong paymaya is just another digital wallet that uses FIAT and as stated above by other poster it is highly governed.  Yes, filipinos might be embracing cryptos that much but most of them has the wrong perception and most of them were being scammed.

Almost every year, millions of dollars were added in the scam amounts that was made in the philippines

[KrishaBitcoin]

Although i support this development and hope that it will really works successfully but still i have in doubt because it is really convenient to pay in cash on this kind of place like public market specially if you are in a hurry and the vendor will need extra educated people to hire just to attend the digital transactions. So i think cashless is really applicable only to the malls and supermarkets but not in the public place but anyway cashless is just an alternative option for the consumers as its more safe than bringing money which is prone to be stolen in the place like this.

[shadyrifles]

It is true that every government wants the cashless society for their citizens. The Phillippines is doing a great initial and concise step to get or at least try to make the society cashless. It will be worth seeing this advanced step by the Phillippines officials.

[Apple Mac]

'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.

Well this is true, and it was actually a great start for our community, in which we are one of the most progressive city in the Philippine ,in behalf of this situation we can say that it has both advantages and disadvantages , advantage is that an easy way to buy good and make transactions, but it was hard thing for most of the families to acquire extensive progression of technology,which we can say one of the worst conflict in implementing cashless society.

[okala]

I like this kind of development and I will said it is a good development that might help the market.  Traders in cryptocurrencies market which everything to became cashless.  Philippines governments are really cryptocurrencies friendly and I believe that this is going to help there economic in future.

[TheAndy500]

And this is the direction in which the whole world goes. Previously, a camera, video camera, tape recorder, and even a calculator or flashlight were used as separate devices. Now everything becomes compact and we can find it only in one phone. Credit cards are still used as a separate item, but soon they will also be replaced with applications on our phones- replaced by cryptocurrency

[Altf4]

If that is true that a public market is turning out cashless in the Philippines then that is a good leap if it is using digital payments like cryptocurrency, that is not impossible because technology is fast rising and that if they adopt that cashless payments then it brings confort to the holders of cryptocurrency.

[Panchum]

'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.

Thats good its started to be a cashless society and lm glad that it will be given soon the price rating increase in the market for us to be ready on a cashless society.

[Renaldi blackspadeteam]

it seems that I also think that way, cryptocurrency will be an online payment tool, and is equivalent to other online money, but cryptocurrency has a fluctuating price, maybe this is why people are afraid to use and store crypto.