The Department of Trade and Industry (DTI) will launch the country's first Cashless Expo in November as a way to encourage micro, small, and medium enterprises (MSMEs) to shift to payment transactions in digital form.
DTI Secretary Alfredo E. Pascual recently signed the Memorandum of Agreement (MOA) between the DTI E-Commerce Division and the GoDigital Pilipinas Movement Inc. for the upcoming event scheduled for Nov. 17 to 19.
The DTI chief said this partnership is vital to the DTI's mission of promoting the benefits of adopting digital payments, particularly for MSMEs.
“This multifaceted approach in encouraging small businesses to adopt digital payments is aligned with the goal of the government to promote digital inclusivity through innovation to ensure that local enterprises remain globally competitive,” Pascual said.
He further added that the DTI will collaborate with both public and private stakeholders to promote digital transformation and expanded access for our enterprises, through a whole-of-government approach.
The MOA aims to increase digital payment adoption by merchants and to encourage cashless transactions among consumers.
Following the e-Commerce Philippines 2022 Roadmap launched earlier last year, this agreement further strengthens the aim of the Department in promoting digitalization and financial inclusion among merchants and consumers.
Additionally, with the support of other government agencies such as the Department of Tourism (DOT), the Department of Agriculture (DA), and the Bangko Sentral ng Pilipinas (BSP), along with the private sector, and digital payment enablers, the exposition targets to step up initiatives to expand digital payments across the country.
The three-day trade show will feature MSMEs that pioneer entirely cashless transactions.
It will also showcase businesses using digital payment methods like e-wallets, debit/credit cards, online bank transfers, and QR codes or Near Field Communication (NFC) technology to enable contactless transactions.
Pascual stressed the significance of digital transformation to enable MSMEs to be globally competitive, saying, “this event takes us one step closer to our goal of encouraging the adoption of digital payments across all industries. As the DTI works on a science, technology, and innovation (STI) driven approach, we encouraged both public and private sectors to work with us in ensuring that digital transformation will happen in the Philippines.” (Ma. Joselie C. Garcia)