‘Sachet culture’, mobile phones, favor PH fintech growth

‘Sachet culture’, mobile phones, favor PH fintech growth

by March 5, 2018
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The widespread use of mobile phones and the “tingi” or sachet culture in the Philippine retail market provides a fertile environment for financial technology companies, according to Anthony Thomas, president of Mynt, a unit of Globe Telecom.

“Filipinos like transacting in small amounts, sachet qualities and they like doing it frequently and that’s easily solved with the mobile phone-based delivery,” Thomas was quoted by ABS-CBN as saying.

Thomas believes fintech allows for “quicker, more convenient, cheaper and smarter” services.

Mynt, which partnered last year with Jack Ma’s Ant Financial for a mobile payment service in the Philippines, is looking at technologies from the Chinese company for a potential foray into remittances.

 

Featured image via inquirer.net

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  1. #1 ‘Sachet culture’, mobile phones, favor PH fintech growth – Fintech Singapore | Orcestra, Inc. 5 March, 2018, 16:56

    […] ‘Sachet culture’, mobile phones, favor PH fintech growth – Fintech Singapore […]

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