![[FINTEREST] When will mobile ‘tap to pay’ go mainstream in the Philippines?](https://i.headtopics.com/images/2024/9/17/rapplerdotcom/finterest-when-will-mobile-tap-to-pay-go-mainstrea-finterest-when-will-mobile-tap-to-pay-go-mainstrea-D43177C34084A44806074EFA1D3F7FA0.webp)
EastWest and RCBC are among the first local banks to introduce mobile tap to pay solutions. MasterCard says its 'in discussion with other banks' to possibly expand that list.
EastWest and RCBC are among the first local banks to introduce mobile tap to pay solutions. MasterCard says its 'in discussion with other banks' to possibly expand that list.
Today, around 40% of transactions in the country are made using contactless technology — a big jump from pre-pandemic days when it was just in the single digits. While that’s impressive progress, it’s still behind the global average, where roughly two-thirds of transactions are now tap to pay. technology, customers can then just tap their phone to pay at any terminal in the Philippines and abroad.
The MasterCard country manager also said that the payments giant is already “in discussion with other banks” to possibly bring similar contactless payment solutions to their customers.This is a first for both RCBC and MasterCard, who are among the pioneers for mobile contactless payments in the Philippines. However,led the way in 2023, becoming the first local bank to link their Visa cards to NFC-enabled phones with the launch of EastWest Pay.
“In fact, in the Philippines, any MasterCard contactless terminal that you see with those lines like that, you can use this technology over there,” Calasanz said, referring to the commonly used symbol for contactless payments.Another big barrier is the fact that Google Pay and Apple Pay have yet to integrate with local cards. In countries like the United States, customers can already link their cards to these services and use their phones to tap and pay.
Cashless Payments Financial Technology Business Personal Finance Stocks &Amp Banking
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
![[Finterest] Filipinos are earning more but still worry about their bills](https://i.headtopics.com/images/2024/8/21/rapplerdotcom/finterest-filipinos-are-earning-more-but-still-wor-finterest-filipinos-are-earning-more-but-still-wor-75C7EFBAF2FA51915204E14B760896C1.webp?w=640)
[Finterest] Filipinos are earning more but still worry about their bills'Although more Filipinos enjoyed increased household incomes in Q2 2024 and expect this trend to persist in the next 12 months, the adjustments they made to household budgets suggest a cautious approach to financial management' says a TransUnion executive about the findings of their...
Read more »
Philippines to tap US help if troops ‘on verge of dying’ in West PH SeaAFP chief General Romeo Brawner Jr. says the Philippines will seek US help when its troops 'don’t have any supplies anymore because our resupply mission have been blocked and they are on the verge of dying'
Read more »
Philippines, China to resume talks amid escalating tensions in West Philippines SeaDefining the News
Read more »
Philippines ranks 3rd among countries with most beautiful people, based on pageant resultsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Coins.ph Stables Money tap PHPC for faster, cheaper remittancesDefining the News
Read more »
Trump says would tap Musk to lead US government 'efficiency' panelNEW YORK, United States — Donald Trump announced Thursday that if elected president he would appoint billionaire Elon Musk to lead an audit of government spending and implement 'drastic' reform.
Read more »