How to live cashless in Metro Manila?

Discussion in 'General OT' started by vic2rp, Dec 7, 2018.

  1. p.pipster

    p.pipster PhilMUG Addict Member

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    Same here. I treat these debbies as disposables. I have no attachments to them. If I lose cash because of fraud, etc., it'll be cheap change. Akin to losing a bill or 2 IRL.

    There's a reason the credit card industry is spending lots and lots on promos, rebates and other gimmicks. Makes you think.

    You can take advantage of those. But, man, I don't want to live a life having to keep track of these things. I just want to buy what I want/need, at the right price, at the right time.

    But back on topic, now that I think about it I think we're very close to being cashless. I just sent a prepaid load to my mom using an app on my phone. Before, I had to go to a sari-sari store. Yesterday, I just bought an add-on to my flight. When I go home tomorrow, I'll be using Grab which is tied to my debit card. Also, they now have their own payments platform which i think is going to be huge in 2 yrs time. They now have Angkas, Grab Delivery and Eats. The more they insert themselves into our lives the more we'll want to use their payments platform.

    Lazada, which I frequent more than I should, also has their own payments platform. If they become the Amazon of SE Asia, no one needs to go to supermarkets anymore and bring cash.

    Someone here who said that there just needs to be 1 (or 2) main player to gain mass adoption is right. My money (literally and figuratively) is on Grab and Gcash.
     
    #21 p.pipster, Dec 8, 2018
    Last edited: Dec 8, 2018
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  2. raypin

    raypin PhilMUG Addict Member

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    Mm...you know that China has gone truly cashless when even their beggars have their own QR codes:

    117DB42C-32E3-4500-AE3D-C4826C8D5524.jpeg

    A84F6302-E54F-4559-B4B5-AFB64E52EB53.jpeg

    :p
     
    #22 raypin, Dec 8, 2018
    Last edited: Dec 8, 2018
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  3. ice

    ice PhilMUG Addict Member

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    Just realized, it's impossible to go cashless in Manila

    Grab is not always available... Taxi/Jeep/Trains need cash
    If you have a car... Parking fees are settled in cash, parking boys/bantay also need to be paid in cash

    I bought my daughter a corn dog in a stall in MOA... Cash only
     
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  4. bacchus_3

    bacchus_3 PhilMUG Addict Member

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    I didn't know they've opened up to Smart network phone numbers. I've always shunned GCash for just the basic thought that it's Globe locked.
     
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  5. raypin

    raypin PhilMUG Addict Member

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    Mm...more cashless options: Mercury Drugstore partnered with Paymaya (press release does not say if it is nationwide) while Metro Manila branches of Southstar is with GCash.
     
  6. hitme64

    hitme64 PhilMUG Addict Member

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    Being cashless means having someone else pay for you...*turns to wife*
     
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  7. vic2rp

    vic2rp Active Member

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    Thank you guys for the inputs. From what i read, seems to me that GCash is a good option. I will surely add this to my list.
    It's amazing that we can do these things now when many years ago I would go to banks to withdraw my allowance or pay something that I bought in the internet. Whats next? No cards or phones, just biometrics.
     
  8. jetan

    jetan PhilMUG Addict Member

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    cashless is impossible. one example is JAPAN. almost everything is in cash transaction. still the best bet debit card or credit card.
     
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  9. Aargh

    Aargh PhilMUG Addict Member

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    100% cashless maybe impossible but for it to be the norm is feasible. Take a look at China, majority of the transactions are cashless, it will actually be kinda weird if you pay in cash.
     
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  10. bowman60

    bowman60 Active Member

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    I’ve been using Gcash a lot lately. If you’re a bpi account holder, it’s very easy to put money in it. I’ve done it sometimes while waiting in line in the cashier. You also get rebates and coupons. It also has a new feature where you can transfer gcash money to any major bank for free! Imagine that! So convenient to transfer money between bank accounts across different banks. It has a 20k/day limit though. But still very useful.
     
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  11. pctan1584

    pctan1584 Well-Known Member

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    Gcash also with Mercury Drug
     
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  12. jetan

    jetan PhilMUG Addict Member

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    different countries different approach. HK cash is still widely used unless you're in a hi-tech district. China? the millenials are the ones using cashless not the older generation.
     
  13. p.pipster

    p.pipster PhilMUG Addict Member

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    Nope. Almost everyone – young and old – use WeChat Pay there.

    Also, I've noticed that SM malls now (at least their dept stores and supermarkets) accept WeChat Pay. Kinda puts perspective on the Chinese market and influence in the PH.

    Anyways...
     
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  14. raypin

    raypin PhilMUG Addict Member

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    Mm..WeChat Pay is in Europe and in the US. To take advantage of in-bound Chinese tourism. As the Chinese economy lifts, hundreds of millions are lifted towards the middle-class and that fuels outbound overseas tourism as well.

    In India, cashless has also taken off really well.

    ————————

    The idea behind cashless is not just about convenience for consumers but to target the lower strata of the economic pyramid. Most do not have bank accounts for the simple reason that the requirements or barriers are considerable:

    1. Identification or KYC (Know Your Customer) rules are stringent.

    2. High Cost. By cost, I mean minimum maintaining balances for different banking products and minimum opening balance.

    3. Inconvenience. You need to go to a physical bank to open an account. That leaves out millions of people in rural areas that are underbanked.

    With cashless, you do away with all that. All you need is a smartphone and a sim card.

    Paymaya and Gcash needs to make their cashless solution less elitist. I notice that the apps are in English. Same with the verification procedure. Why not offer a language selection option for tagalog or even several of the major regional dialects? How hard is it to make that happen? Not hard. Just laziness on the part of Smart and Globe.

    I know that using smartphones require a certain level of literacy (including computer literacy) but making it easier by removing the English-only language barrier helps.

    The implications are enormous in terms of Cost savings and in terms of time. By going cashless and training people to go cashless, they enjoy the full advantage of cashless. Two examples:

    1. go to any payment center like Meralco or Bayad Centers. These people have to do this payment thing every single month. Imagine the cost in terms of time and transportation. Multiply that by the millions of cash-only customers and the cost is considerable. Time lost that would have been used productively (to earn). Indirect cost savings: less traffic.

    2. Payroll management is simplified. For example, DepEd teachers gets their salary through their ATM each month. But these same teachers have to go to the nearest ATM machines so they can withdraw cash to pay for bills or go to the grocery etc. With cashless, they can do without that. Salary goes into their digital wallet. That’s it. No atms or Bayad centers. All transactions done digitally. For companies with many employees, payroll management is exponentially made easier and less costly. More secure since you eliminate the risk of payroll holdup. No need to use their bank’s payroll service. Everything done digitally.


    Go PinoyPay!
     
    #34 raypin, Dec 9, 2018
    Last edited: Dec 9, 2018
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  15. Aargh

    Aargh PhilMUG Addict Member

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    Old or young, rich or poor, almost everyone is cashless in China. Even those street vendors that sell newspapers and cigarettes accepts cashless payments.
     
  16. joethemobile01

    joethemobile01 Active Member

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    PH is slowly adapting cashless payments especially the introduction of QR payments with GCash, PayMaya, and Coins. Perhaps in the future, these are interoperable so that we can just use single QR and it will go through merchants accounts regardless if they are PayMaya, GCash, or Coins merchants. Right now PayMaya has this feature that you can send QR payments even if you are only an individual KYC'd user. May QR code na per user nasa app. So this can be used for your personal or small businesses without signing up merchant access.

    Also, citizens that have contactless credit and debit cards, make sure to use the PayWave and PayPass technology, this is implemented on most POS on SM supermarkets, department stores, Watsons, and some coffee shops and restos. Ask them nicely that you need to tap your card instead of dip. This will also prevent the cashier from handing over your card (for your own safety).

    Nevertheless, each and everyone is responsible for being a cashless country, be informed and adapt to changes.
     
  17. mark_17

    mark_17 Active Member

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    I noticed something new when I purchased something at SM Makati department store earlier today... you can now pay with the BDO app. Aside from the GCash and PayMaya QR code, now they have BDO Pay.
     
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  18. Sunil_K

    Sunil_K PhilMUG Addict Member

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    This is true. The government is trying to control "black money" or undeclared assets and income.

    That KYC is a b!tch espcially for me being a Philippine citizen but living in India. BPI or BDO has to email me my latest 3 months bank statement to show that I am based in Manila and that I am paying my taxes there so that I dont get double taxed here. Also they made a rule that if you are spending cash over 50K, you will have to submit your TIN number. But if you pay by CC, DC, Check, or online payment systems, thats alright.
     
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  19. ste@lth

    [email protected] Well-Known Member

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    This one hit right on the spot, never ever walk around un-holy grounds of Tondo and Quiapo with cash or even with cards!
     
  20. ginomatic

    ginomatic Active Member

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    So far, I know 2 Jollibee branches that accept credit card payments, both of them in C5 (Jollibee Shell in Tiendesitas, the other one is northbound beside Mc Donalds).
     

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