FINANCIAL technology (fintech) adoption through mobile applications is likely to reach 80 percent or about 65 million users by the end of this year, an analysis from consumer credit service Digido showed.
FINANCIAL technology adoption through mobile applications is likely to reach 80 percent or about 65 million users by the end of this year, an analysis from consumer credit service Digido showed.Approximately 79.5 percent of Filipinos ages 15 and older — about 66.4 million people — are expected to use fintech through mobile apps.The growth is expected to be driven mainly by digital commerce, contributing 34 percent, followed by digital wallets at 27.2 percent and digital banking at 8.6 percent.
Digital commerce led with 31.4 percent of downloads, followed by digital wallets at 21.7 percent, and digital lending at 20.3 percent. The remaining downloads were for digital payments and transfers , digital personal finance apps , and digital banking .In the first half of 2024, Digido found that digital lending saw the highest growth with 25.4 million downloads, followed by digital commerce at 13.5 million, and digital wallets at 12.2 million.
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