Visa, the world’s leader in digital payments, today released new findings from its Visa Consumer Payment Attitudes study[1], that show over eight in 10 Filipinos (83%) are aware and interested (81%) in using digital banking services. However, only 32 percent of respondents are currently using services offered by a digital bank. Top interest drivers for Filipinos to use digital banking services include access to banking services anytime of the day (68%), time saved from not having to queue at bank branches (68%) and convenience (67%).
The study also showed that Filipinos are most keen to work with a financial services brand for digital banking services (93%) and traditional banks (92%), followed by new start-ups with digital banking services (72%).
Filipinos interested in banking with digital banks are keen to use services such as paying bills (84%), transferring money locally (78%), making deposits and withdrawals (76%), and making payments for purchases at local retail locations (71%). However, the preference of using digital banking for traditional bank services such as investments (52%), international transfers (48%) and loans (46%) is lower.
