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5 Reasons Why E-Wallets Are Getting More Popular

Nowadays, when it comes to services, convenience is the name of the game. Everything is fast-paced in the modern world and everyone is busy juggling their careers and personal lives. Thus, products and technologies that make things faster and hassle-free are nothing short of life-changing.

One such technology that makes modern life so much easier for Filipinos are e-wallet apps. Their usefulness lies in their flexibility, allowing you to pay bills, send money, and more using just one application. In addition, e-wallets also allow you to conduct transactions anywhere. With the COVID-19 pandemic and the increasing importance of minimized physical contact, more people now use an e-wallet app in the Philippines.

Here are a few more ways that e-wallet apps have become more convenient than ever:

Various Methods to Top-Up

Obviously, you can’t use your e-wallet if it doesn’t have money in it. Luckily, you’ll have no problems about how to cash in and top-up your e-wallet account. The most popular way is through linking a bank account to your e-wallet. The process is similar to an online transfer: simply choose the linked bank account, input the amount, and then type the OTP sent to your mobile number. The money will be instantly added to your e-wallet account.

If your bank is offline (e.g., the app is undergoing maintenance), there are also plenty of offline options to add money to your e-wallet account. Convenience stores, mall business centers, and pawnshops are just some of your options to add money to your e-wallet. You can also go to banks and payment facilities to cash-in. Finally, there are self-service kiosks you can find in various locations where you can insert money and top-up your account.

More Establishments Are Accepting Them

The Philippines was actually one of the global leaders for digital payments, with systems in place as early as 2001. However, not many Filipinos used such payment methods because not a lot of establishments accepted them before. This became a problem cycle that resulted in a slow adoption rate of e-wallets and other similar payment systems.

Today, this isn’t so much of an issue. There are now millions of Filipinos using e-wallets and there are also hundreds if not thousands of establishments across the country that accept them. Whether you’re in a supermarket, department store, restaurant, clothing boutique, or drugstore, you’ll be able to use your e-wallets to pay for your purchases.

In addition, e-wallets can be used in multiple ways. When you’re in physical stores, for example, you usually have two options: a physical card linked to your e-wallet account or scan a QR code using the app on your phone. When you’re shopping online, you can use an e-wallet to transfer money to the seller’s account or use it directly (if it’s listed as a payment option).

More Bills Payment Partners

One of the most popular uses of e-wallets for many Filipinos is bills payment. It’s not entirely surprising, considering that the alternative is to line up at banks or payment centers. This not only takes precious time, but also exposes one to all manner of dirt, allergens, and other harmful substances.

With an e-wallet app, you can pay all of your bills without leaving your home or office. From electricity and water utilities to postpaid mobile, you can settle your payments with just a few taps. There are also several more bills you can pay using your e-wallet. These include cable and internet providers, credit cards, government agencies like SSS and Pag-IBIG, insurance, and even schools.

As a bonus, you can set recurring payment reminders so you don’t forget your payment due dates. You’ll also receive email and SMS notifications so you can easily keep track of your transactions.

They Save You Money

Another benefit of using e-wallet apps is that it partners convenience with savings. Usually, partner merchants conduct promos to entice customers to use their e-wallets more. Such promos include cashbacks, additional discounts, or even buy one get one offers. It’s certainly something that bargain-loving Filipinos will appreciate.

Speaking of bargains, you can also use your e-wallets to directly buy prepaid load and mobile data for all networks. What’s great is that whether you’re buying standard load or packages, you’ll always get a discount. There’s no need to enter special codes and there is also no promo period.

You Can Receive Remittances

For those with loved ones abroad, e-wallets can be your trusted companion when claiming remittances. With PayMaya, for example, all you have to do is to open the app on your phone and choose the Add Money option. Then, enter the reference or control number from the remittance partner. Make sure that the details are correct before tapping “Receive.” After this, you’ll receive a text message to confirm the receipt of the remittance amount.

This is especially helpful during crisis situations, such as the ongoing COVID-19 pandemic. With this feature, you can receive your remittances on time and at the same time minimize outside exposure.

If you don’t have an e-wallet app yet, it’s about time you get one. Once you’ve experienced the convenience, you’ll wonder why you haven’t used it before!

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