Shopee notes higher usage of mobile wallet

MANILA, Philippines — The integrated mobile wallet of online shopping platform Shopee continues to ramp up initiatives to boost the efforts of the Bangko Sentral ng Pilipinas (BSP) in achieving the goals under the country’s digital transformation journey.

Shopee Philippines director Martin Yu said ShopeePay aims to continue helping more Filipinos access the benefits of digital payments and fulfill the mission to better the lives of individuals and businesses with financial services through technology.

“Consumer lifestyles have become more digital-first, with a preference to meet their needs online not just for shopping but also for other financial transactions such as sending money, buying load, paying bills, and more. Consumers have a wide range of payment needs and ShopeePay’s features aim to cater to a variety of different habits and preferences,” Yu said.

Since its launch in 2019, ShopeePay has continued to support more consumers and merchants in their digital payment needs.

Milestones include a 95 percent increase in ShopeePay adoption in Visayas and Mindanao, a 93 percent increase in overall transactions, a 165 percent jump in load orders, the doubling of send money  transactions as well as the 550 percent surge in bills payment.

Furthermore, more than one million foot traffic created for merchants with ShopeePay Near Me.

“We are heartened by the confidence and trust consumers and merchants have placed in ShopeePay. We will continue to improve and innovate so we can meet their evolving needs,” Yu said.