A study by data provider Ken Research has found that the increasing popularity of digital currencies is expected to revolutionize mobile financial services in the Philippines by using cryptocurrencies, biometrics and wearable technologies.
The findings were contained in the study titled, Philippines Money Transfer and Bill Payment Market Outlook to 2023, which predicted that the volume of remittances in the country would reach $42 billion by 2023. It added that the expansion of financial inclusion in the country, as well as the banked population, is envisioned to offer opportunities for banks to raise their market penetration further moving forward.
“International remittance market in the Philippines will continue to be driven by increased migration of Filipinos to o...
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