4 BENEFITS OF CASHLESS PAYMENTS

Article by: Je Yaranon | June 11, 2019

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We live in a world where there’s constant advancement. Almost everything has become fast and digital – as some would say, this is the “I want it now” age.

Among the things that are progressing is the way we can handle our financial duties. Slowly but surely, the best and brightest innovators of the world are stirring up ways to ease that daily task, hence the birth of cashless payments.

However, it is understandably vague to most people, as we are all used to the classic way of how it’s done. With that, allow us to list down some of the benefits of cashless payments. It’s a path we ought to take. Let’s get it going.


CONVENIENCE

This is arguably the primary reason why going cashless is the way to go. In such payment method, carrying a boatload cash and a bulky wallet will be lessened, as well as the weekly or daily need to line yourself up in the seemingly never-ending lines in ATMs.

There’s also a new kind of ease, as it will come in conveniently in the event that you are in an emergency and needing a quick way to pay bills, buy important stuff, etc.


REWARDS/DISCOUNTS

All payment apps and debit/credit promos are still trying to market up and attract customers, so you can expect rewards and/or discounts to come in bunches. Among the offers will be for clothes, food, prepaid load, hotel and flight tickets, with the discounts going up to 80 percent.


SECURITY

Since it’s digitized, there’s zero risk of losing the money through robbers, counterfeiters, or whatnot. In the unfortunate event that the card(s) get stolen, it can be easily blocked via calling the bank.

Plenty of payment apps also have much better security, and you can do the blocking yourself through the software.


TRACKING

There’s a list of benefits for having a financial tracker. By having one, you can improve the way you budget as you can handily check your balance and monitor how much you have anytime you want. It can also help in detailing your expenses and other similar documents.

The Philippines is no stranger to fintech’s current boom. The nation is dipping its toes more and more, as evidenced in the rise of payment apps, QR code, mobile wallets, and the like.

Here are at VeritasPay, we aim to continually provide advancements in the fintech (financial technology) industry, which includes developing the best cashless payment apps and powering the best payment devices with the most efficient software.

We offer solutions that allow your system to accept various types of cashless payments. Should you be interested in learning more about our services, you can check out our Home page or get a hold of our contact details here.

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