Philippines’ Fintech Industry Group Drives Cashless Initiative Amidst COVID-19 Outbreak
by Fintech News Philippines March 11, 2020Amidst the current contagion of potential pandemic proportions, the Philippines has reported a series of confirmed COVID-19 cases in the last four days. Given the high risk of local transmission, the Fintech Alliance.ph has heightened its awareness campaign on the use of digital channels especially on reducing the handling of physical cash, which according to various advisories, may contribute to the spread of the virus.
“We enjoin the public to utilize any digital means of making financial transactions such payments or transfers using QR code, or through InstaPay or PESONet across banks and non-bank providers, contactless, and other payment technologies.
The Alliance is also coordinating with various inter-faith religious organizations on making all donations or collections during spiritual services through digital payments so as to avoid the exchange of physical cash. The entire fintech industry is one with the government, private sector and non-government organizations in combatting this latest public health scare through continuous education. Still, the best prevention is proper hygiene through hand-washing while keeping adequate social distancing,”
said Lito Villanueva, chairman of Fintech Alliance.ph, and executive vice president and chief innovation and inclusion officer of RCBC.
