Daily Tribune‘This multifaceted approach in encouraging small businesses to adopt digital payments is aligned with the goal of the government to promote digital inclusivity through innovation to ensure that local enterprises remain globally competitive.’
[From left to right) Mishy Co, executive director, Go Digital Pilpinas Movement; DTI Secretary Fred Pascual; Carlos Gatmaitan, chairman of the board, Go Digital Pilpinas Movement and DTI Assistant Secretary Mary Jean Pacheco after the signing of the memorandum of agreement for the Cashless Expo 2023 this coming November. | photograph courtesy of DTI
To promote the benefits of micro, small and medium enterprises to be onboarded to digitization, particularly in adopting digital payments, the Department of Trade and Industry is kicking off Cashless Expo 2023 in November.
On Thursday, Trade and Industry Secretary Fred Pascual signed a memorandum of agreement with GoDigital Pilipinas Movement Inc., for the upcoming exposition.
"This multifaceted approach in encouraging small businesses to adopt digital payments is aligned with the goal of the government to promote digital inclusivity through innovation to ensure that local enterprises remain globally competitive. Through a whole-of-government approach, the DTI will partner with both public and private stakeholders to foster digital transformation and wider accessibility for our enterprises," according to Pascual.
The objectives of the MoA are to increase digital payment adoption by merchants and encourage cashless transactions among consumers.
Following the e-Commerce Philippines 2022 Roadmap launched earlier last year, the agreement further strengthens the aim of the DTI in promoting digitalization and financial inclusion among merchants and consumers.
The Cashless Expo 2023, scheduled on 17 to 19 November 2023, is a collaboration between the DTI Digital Philippines E-Commerce Division and the GoDigital Pilipinas Movement.
Further, it aims to ramp up efforts to increase digital payments across the nation.
The event is supported by other government agencies such as the Department of Tourism, the Department of Agriculture and the Bangko Sentral ng Pilipinas, along with the private sector and digital payment enablers.
The Cashless Expo 2023, the first cashless expo in the Philippines, will be a three-day trade show that will feature MSMEs that pioneer entirely cashless transactions. It will also showcase businesses using digital payment methods like e-wallets, debit/credit cards, online bank transfers, and QR codes or Near Field Communication technology to enable contactless transactions.
The DTI Chief stressed the significance of digital transformation to enable MSMEs to be globally competitive, saying, "This event takes us one step closer to our goal of encouraging the adoption of digital payments across all industries. As the DTI works on science, technology and innovation driven approaches, we encouraged both public and private sectors to work with us in ensuring that digital transformation will happen in the Philippines."
