Report Published: "Financial Cards and Payments in the Philippines"
Cash continues to play a vital role in people's daily lives, accounting for over 90% of total volume transactions in the Philippines. This mode of payment remains popular in 2012 because a large percentage of the population is still unbanked, electronic transfer facilities are limited and most traditional retailers such as wet market stalls, sari-sari stores (traditional convenience stores) and carinderias (low-end eateries) only transact in cash. Nonetheless, financial cards are expected to...
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