Christmas takes a technological twist in the post-pandemic era.

Filipinos are the first to celebrate Christmas around the world as early as September — a claim that no one seems to dispute. 

The quarter-long tradition is said to have originated from Spanish colonizers, who brought the tradition of celebrating Christmas to the Philippines.

In the past, gifting was often a simple matter of exchanging goods. For example, a farmer might give a neighbor a sack of grain, or a hunter might give a fur coat. 

Yet today, the tradition of sharing remains a way to express love, gratitude, and appreciation.

Gifting has evolved from the simple exchange of goods to the more complex and personalized gifts of today. 

Thanks to e-cash and e-payments, this tradition has been made more convenient and practical, while allowing more consumers to afford high-value items.

Fintech players

Locally, financial technology or fintech players leading the industry are GCash and Maya, both regulated by the government to ensure security and convenience in payments.

Fintech is a thriving industry that has been accelerated by the pandemic and further propelled by the digital-led post-pandemic environment. 

A financial super app with a full suite of services, including cash loans and buy-now-pay-later products, GCash is the lone double unicorn in the Philippines valued at over $2 billion.

Subsidizing the cash-in fee

Due to the spike in GCash transactions, the company has vowed to continue to subsidize the convenience fee for cash-ins to provide a financial cushion to users amid the rising cost of goods. 

GCash president and CEO Martha Sazon said while users are still charged a fee for cash-ins, it is still "much lower" than the P25 that other financial institutions usually charge for cash transfers because of the subsidy.