Digital wallets are more capable than you think.
Online transactions saw a huge increase during lockdowns and stay-at-home orders. Aside from traditional banks, digital wallets became a go-to for a wide range of things. It wasn’t uncommon to hear or see people say “GCash ko na lang!”
From fund transfers and bill payments to cashless transactions and investments, here are four digital wallets everyone needs to have.
Perhaps the most popular digital wallet in the Philippines, this app offers a wide spectrum of capabilities. These include fund transfers, bill payments, credit, loans, and investments. It even serves as a savings account and an insurance provider.
While GCash to GCash transactions are free, sending funds to other digital wallets or bank accounts comes with a fee. But compared to third-party bank transfers, the PHP15 fee is still cheaper than the usual P25 with banks.
The former Paymaya has since transformed into a more complete financial services company. Maya is like GCash, but some features do differ. For example, GCash is just getting ready to launch its crypto features. Maya already has theirs running. And while GCash offers loans, Maya doesn’t.
Shopee isn’t just about shopping and deals. ShopeePay is an in-app digital wallet that you can use to shop, pay bills, and transfer funds. A fully-verified ShopeePay account even lets you do bank transfers for free!
What’s great about using ShopeePay is that users can earn discounts and cashback by using it as a payment option. And it’s not limited to just Shopee transactions. Several brick-and-mortar shops and restaurants do allow patrons to pay using ShopeePay.
GCash, Maya, ShopeePay, or something else?
There are other digital wallets out there other than the ones above. It’s up to users to decide which one to get. Users can also choose to have all of them if they find it necessary.
Whether it’s one or all, having digital wallets on your phone offers plenty of advantages no one would want to miss out on.
Featured Image Paulo Correa