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PH to hold first 'cashless' expo to promote fintech to farmers, consumers

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Andrea Taguines, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The Department of Trade and Industry (DTI) holds a press conference about the upcoming CashlessExpo 2023, which will be held in partnership with the Department of Agriculture and the Bangko Sentral ng Pilipinas. Andrea Taguines, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/11/06/11062023-cashless.jpg"/><figcaption>The Department of Trade and Industry (DTI) holds a press conference about the upcoming CashlessExpo 2023, which will be held in partnership with the Department of Agriculture and the Bangko Sentral ng Pilipinas. Andrea Taguines, ABS-CBN News</figcaption></figure></div>MANILA -- Around 250 exhibitors from across 14 regions in the Philippines are set to participate in the country’s first-ever Cashless Expo on November 17 to 19 at the World Trade Expo in Pasay City, said the Department of Trade and Industry (DTI) on Monday.During a press conference, DTI Assistant Secretary Jean Pacheco described the event as &quot;the first of its kind&quot; since the only modes of payment that will be accepted are cash transfers via digital banks, e-wallets, or credit cards.The expo is touted as a one-stop bazaar for consumers looking to get their hands on locally-made products at affordable prices.“Pwede kayong makabili ng maraming local products, pati gulay,” said Pacheco.(You can buy a lot of local products, including vegetables.)The Cashless Expo 2023 is a partnership among the DTI, the Bangko Sentral ng Pilipinas (BSP), the Department of Agriculture (DA), and some of the country’s leading fintechs like Maya Bank and GCash.The BSP hopes this will encourage more merchants and consumers alike to shift to digital payment transactions.“For merchants, we hope that they can see how digitalization can help enhance the efficiency of their operations and help them expand their product reach,” said BSP Senior Assistant Governor Edna Villa.“For consumers and suppliers to merchants, the ease of receiving and making payments, respectively, para wala nang takot...mawala yung pera, manakawan ka. Yung mga fear na yan, mawawala pag cashless na tayo,” she added.Glenn Estrada, the Director of the Digitalization and Value Chain Development under the DA’s Masagana Program, also pointed out how crucial it is to be involved in such events.“Looking at the profiles of the farmers, normally sila yung walang bank account, hindi masyadong techie (they don&#x27;t have bank accounts, they aren&#x27;t too techie). For our farmers and agricultural stakeholders, this expo goes beyond merely adopting technology to transact digitally. It also symbolizes the transformative leap towards achieving greater economic resilience, inclusivity and empowerment,” said Estrada.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/26/23/trust-key-to-wider-adoption-of-digital-finance-stakeholder">Earning people’s trust key to wider adoption of digital financing services: stakeholder</a></li></ul>According to Estrada, 16 booths were allotted to farmers from different regions. Aside from vegetables, other products that will be on sale include rice, fruits, coffee beans and chocolates.PLDT meanwhile assured participants that the internet connection during the event will be strong and secure.“The WiFi will be working. Internally, rest assured that we have applied our own cybersecurity measures to make sure that the (financial) transactions are safe,” said PLDT Vice President Ding Villarino.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/05/23/ph-borrows-p17-b-from-adb-for-financial-inclusion">PH borrows almost P17 billion from ADB for financial inclusion</a></li></ul>

Around 250 exhibitors from across 14 regions in the Philippines are set to participate in the country’s first ever Cashless Expo. 

PH to hold first 'cashless' expo to promote fintech to farmers, consumers

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PH to hold first 'cashless' expo to promote fintech to farmers, consumers

Andrea Taguines,

ABS-CBN News

Published Nov 06, 2023 05:23 PM PHT

Read More:

cashless expo

farmers

digitalization

financial inclusion

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