Philippines’ San Guillermo Project will See Its Own Digital Cash
November 21, 2021 - Manila, Philippines - Dubbed as San Guillermo short for “San Guillermo Mall Complex, a development project in the Philippines is trending news with its own Digital eCash. The project is marketed for Filipinos working abroad, popularly known as OFW (Overseas Filipino Workers) which has an estimated 2.2 million OFW worldwide by the Philippine Statistics Authority.
The rising mobile payment activity worldwide comes from the rise of digital wallets. Duane Gentozada, CEO of Prime Fenris together with Dantru Development Corporation, the eWallet has been introduced which covers Filipinos living abroad. It's perfect timing for the Philippine project.
The San Guillermo ecash is based on a central platform that allows the users to pay any retailer that is compatible with the platform, using any compatible payment method – like Visa, Mastercard, Union Pay. etc.
Digital cash also has the potential to reduce fraud as they are more difficult to steal and use than a physical card or cash. It is an attractive feature in a pandemic-driven market in the Philippines. Many increasingly favor contactless payments.
As more and more businesses use cashless payment options in daily transactions, San Guillermo executives have also announced its adoption in the new normal. San Guillermo Complex will go cashless even if the project fronts of the complex have not yet been inaugurated.
Digital Payment of San Guillermo is projected to prop up muscle by mid-2022. AllBank Inc., formerly Optimum Development Bank, Inc. is currently working with PrimeFenris, Inc.
The e-wallet initiative is meant to help cash-paying people shift towards cashless payment. And because once the wallet is activated, users can enjoy the other benefits — like deals, promotions, and utilities. These can even help commuters embrace cashless payment, and unlock the many benefits that await them.
The world is already “racing ahead” with the development of a digital currency. Digital currency evangelists scoff that this seems most likely to happen soon, if ever, given the stodgy nature of the effects of being contactless skyrocketed by the COVID19, the holy grail would be forthcoming.
Whether you love or hate eWallet, its explosion has reminded us all that the physical presence of money matters deeply if you want to live in a past pandemic — and not just memes. One big appeal of the e-wallet, after all, is precisely how it acts as a safer solution for handling currency.