Online payment gateway Maya asked entrepreneurs and online merchants to consider the adoption of blockchain, the technology behind cryptocurrency, as it goes mainstream and becomes accessible in the Philippines.
Maya chief marketing officer Pepe Torres said there is a lot of promise around the core technology behind cryptocurrencies like bitcoin that can make transactions more seamless.
“So there is a lot of promises around the core technology behind cryptocurrency, which is blockchain, [as it] has a lot of promises in terms of international remittances, making it easier to buy goods and services around the world and also in terms of developing more secure and smart contracts for goods and services,” Torres said during the Franchise Asia Philippines 2022 virtual conference.
Citing the Visa Consumer Payment Attitudes Survey, Torres said there is a growing interest to pay and get rewarded in cryptocurrency.
“It is also worth noting that there is significantly growing interest in the Philippines and across the world to pay in crypto so there is increased interest, at 72 percent here in the Philippines, but also get rewarded in crypto currency by 76 percent,” he said.