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June 23, 2024

Visa’s online toolkit drives contactless payments boom in Philippine tourism

Visa, a leading digital payments provider, is fueling a contactless payments revolution in Philippine tourism with the launch of its new SME online toolkit.

The toolkit empowers small and medium-sized businesses (SMEs) by providing them with the resources to leverage Visa’s solutions, enhancing customer experience and driving sales growth within the tourism sector. It equips merchants with step-by-step instructions and cashier scripts for initiating and completing transactions, along with facilitating contactless payments – a growing preference among post-pandemic travelers.

According to Visa’s Global Travel Intentions (GTI) study, 97% of Asia Pacific travelers carry cards while traveling and only 17% intend to use cash in their destination currency.

The number of travelers carrying cash has dropped 60% since COVID-19, with a surge in contactless payments adoption, particularly among travelers from Australia, New Zealand, and Singapore.

Visa Philippines country manager Jeff Navarro emphasized their commitment to empowering businesses with the latest technologies. He highlighted Visa’s data, which aligns with the Department of Tourism’s (DOT) figures for April 2024, showing a rise in contactless payments by tourists from the US, Canada, Australia, UK, South Korea, and Japan.

Navarro expressed hope that the SME toolkit will facilitate wider adoption of digital payments among SMEs, catering to the evolving travel landscape and tourist preferences.