NEARLY half of Filipinos now prefer to receive money transfers through digital platforms, according to a study conducted by Western Union Co.
“As consumers look to the future, the principle of choice in how to transfer money internationally is most appealing,” said Jean Claude Farah, the firm’s president for its Middle East and Asia Pacific operations. “This resonates with what we see among our customer base, who actively seek services that are convenient, fast and reliable, based on their needs.”
Trust ranks highly as a top barrier for using digital money transfer services among senders at 31 percent and receivers at 23 percent. He said one of the firm’s key focus areas to accelerate growth in the Philippines and around the world is to build on its “core capabilities.” Keeping pace with daily financial needs, 44 percent of senders in the Philippines state that family support is the primary driving force behind how much and how frequently they need to transfer money.
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