Number of Pages : 102 leaves
Adviser : Prof. Ma. Elizabeth A. Francisco
Abstract
Mobile wallet started in the Philippines a decade ago with the introduction of GCash and Paymaya in 2004 and 2007 respectively. However, its technology adoption in MSME lags despite the growth in smartphones and mobile internet users.
Only 1% of the POS transaction worth 2,131 USD per capita was made using digital wallet in 2017. On the other hand, cash is still the most common financial instrument used with 78% share. This is even with the 70% smartphone penetration and 39% mobile internet penetration in the country in the same year.
This research assesses the current environment in the digital wallet world in the country by checking the four quadrants. The four quadrants are the government, the MSME, the consumers and the digital wallet providers. To understand the interworking of these quadrants, data coming from related literatures are reviewed and then coupled with interviews with MSME and digital wallet provider and surveys addressed to both consumers and MSME.
The interpolated information shows that the country has a national retail payment framework led by an industry-led body with an oversight from the government. However, first-hand data reveals that the digital wallet provider aims to capture huge consumers userbase first through consumer-centric offerings. This reflects on 75% respondents in the survey that are already using digital wallet as consumers/payee. On the other hand, only a quarter in the two groups of MSME, who got interviewed and who answered the survey, accepts digital wallet. The former group of MSME had a partnership project with PayMaya in New Marulas Public Market. They voiced out their feedback on the existing POS solution, the lack of visibility on digital wallet users, and the bad experiences they had.
This research assesses the current environment in the digital wallet world in the country by checking the four quadrants. The four quadrants are the government, the MSME, the consumers and the digital wallet providers. To understand the interworking of these quadrants, data coming from related literatures are reviewed and then coupled with interviews with MSME and digital wallet provider and surveys addressed to both consumers and MSME.
The interpolated information shows that the country has a national retail payment framework led by an industry-led body with an oversight from the government. However, first-hand data reveals that the digital wallet provider aims to capture huge consumers userbase first through consumer-centric offerings. This reflects on 75% respondents in the survey that are already using digital wallet as consumers/payee. On the other hand, only a quarter in the two groups of MSME, who got interviewed and who answered the survey, accepts digital wallet. The former group of MSME had a partnership project with PayMaya in New Marulas Public Market. They voiced out their feedback on the existing POS solution, the lack of visibility on digital wallet users, and the bad experiences they had.
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