E-money is electronically stored monetary value in a given currency. It’s usage across the globe has been exponentially increasing over the years with the emergence of better technology and information security. In addition, organizations that provide electronic money services offer benefits and incentives to increase the participation of the market.

However, in the Philippines, many Filipinos are not entirely familiar with e-money. As such, many of us still prefer to use physical cash over e-money. But do you know that there are lots of benefits when using e-money? Here are 5 advantages of using e-money over physical cash:



We tend to take with us large amount of cash when paying bills outside. Imagine if you get mugged, the money that is supposed to be for your bills, all gone and there is a close to zero chance that you will recover that money. Your e-money application is stored in your mobile device, protected by a PIN and / or a password. In the unfortunate event that your device gets stolen, the thief will not be able to gain access to your e-wallet. You can also access your account remotely and immediately change your password.



Paying with credit card is too simple. You just tap/swipe the credit card on the POS terminal, and you’re good. Merchants don’t usually ask for your signature anymore when your credit card purchase is below 5,000 nor do the system ask for your pin/CVV.

Using e-money, payments are made via QR code through the app. The application will prompt for you to enter your PIN before you can access the services of the application.



Have you ever experienced being given a piece of candy/chocolates as an alternative for change because the store doesn’t have enough coins?

This is one of the most common lines that you will hear in almost any sari-sari store you go to in the Philippines. Most of the time, the cashier will make you wait as they find a store that will exchange their money into smaller bills. They are usually having a hard time giving change to a huge amount of money to the last centavo.

With e-wallet, you can pay the exact amount, down to the last centavo. These small gains will have an impact on your budget.



Written records will help you keep tabs on your spending and this will result in better budgeting. Avoid that “Where did all my money go?” dilemma, because when your transactions are all recorded, you will know exactly where your money went. If you plan to save, you can look through your transaction records and cut down the unnecessary spending that seems normal to you.



Are you always at work and struggling to get out and pay your bills? You can pay bills with a simple tap of your fingers. Buy load and pay bills in the comfort of your own home. Imagine the effort, time and money that you will save from not commuting.