Global leader in digital payments, Visa, and the Department of Tourism (DoT) have sealed a partnership to accelerate digital transformation in the tourism sector.
In a ceremony on Thursday at the DoT Central Office in Makati City, Tourism Secretary Christina Garcia Frasco and Visa regional head for Southeast Asia, Visa Government Solutions Bella Lai, sealed the partnership.
According to Visa, the initiative drives digital payment acceptance in key tourist destinations, supports micro, small, and medium enterprises, and advances data-driven tourism planning.
More seamless, secure digital payments
For travelers, it means more seamless and secure digital payments; for local businesses, this would provide tools to grow; and for communities, insights and digital skills, creating a more connected, inclusive tourism experience and accelerating, overall, sustainable tourism growth in the Philippines.
Under the memorandum of Understanding, Visa and the DoT will collaborate on initiatives using data insights to strengthen tourism planning, accelerate the adoption of digital payments, and build digital skills within tourism communities nationwide.
Tourism, in 2024, contributed 8.9 percent to the country’s gross domestic product while generating 13.8 percent of total employment in the country.
Working with tourism authorities worldwide
Visa works with tourism authorities worldwide to promote digital payment acceptance and enhance tourism planning through data and analytics.
In Mexico, Visa collaborated with the government to increase acceptance among small merchants in tourist destinations, with 3.9 million small merchants now able to accept digital payments.
In Japan, Visa worked with the Osaka Prefecture and Osaka Tourism Bureau to conduct a market analysis in support of the Japanese government’s vision to achieve a 40 percent cashless payment ratio by 2025.
Cashless payments preference
More tourists are increasingly preferring cashless payments, as shown in the Visa 2023 Global Travel Intentions Study, which stated that 97 percent of travelers across Asia Pacific say they will bring debit, prepaid, and credit cards on their trips, and only 17 percent intend to bring foreign currency.
Jeffrey Navarro, country manager for Visa Philippines, stresses Visa’s support for the Philippine government’s vision of a cash-lite society, and says its collaboration with the DoT reinforces the international card company’s commitment to driving tourism growth in the Philippines.
“By enabling seamless and secure digital payments for travelers, empowering small businesses to thrive, and advancing digital and financial inclusion, we aim to create a stronger, more resilient tourism sector. Through data-driven insights and collaboration, we’re helping to build an ecosystem where every stakeholder can participate in the digital economy and contribute to sustainable tourism growth,” he added.
For her part, the tourism secretary said, “On behalf of the DoT, we express our gratitude to Visa. This is a clear vote of confidence in Philippine tourism that they have recognized the momentum of growth in the Philippines and that they are partnering with us to empower our destinations, as well as our tourism stakeholders. We can use Visa’s influence in terms of promoting the Philippines to the world.”