The transition to digital financial transactions is more than just a trend but a very useful alternative in today’s busy world.

Too busy at work but got bills to pay? Just click and send.

Too many household errands to do amid payment deadlines? Just tap and pay.

Too tired to even move a muscle but you need to shop? Just add to cart and charge.

With digital payments, people can experience hassle-free financial transactions such as payment of bills, contributions, or taxes; fund transfers; and online purchases.

All that is needed are a mobile phone or a tablet computer, an internet connection, and loaded e-wallet accounts and you can now pay your bills or shop at your convenience.

No need to go out and be stressed out by traffic or risk getting victimized by criminal elements as you need not bring large amounts of cash with you.

Digital payments are speedy, convenient, secure, efficient, cost-saving, and accessible.

“Digital payments may charge transaction fees, but it is minimal compared to the supposed transportation fare, time, and effort you were able to save,” Marian Patosa, Bank Officer V of Bangko Sentral ng Pilipinas (BSP) North Luzon said over PIA’s Kapihan sa Ilocos.

These are just some of the undeniable benefits of embracing digital payments that BSP wanted to emphasize.

Users of the various electronic payment platforms no longer need to worry about storing the bulk of receipts in their wallets and the fear of losing them at times.

BSP noted that users may anytime and conveniently refer to their transaction histories through their gadgets if they wish to check their payments or track their spending.

Security is the top concern of Filipinos, BSP assured that it is safe as they are the entity responsible for the National Retail Payment System, the policy and regulatory system that oversees the financial services and transactions of banks and e-money issuers.

The added security feature of e-wallet accounts is the one-time PIN (OTP) used to further confirm financial transactions.

“Maintaining the security of your e-wallet accounts is the same as how you look after your physical wallets and other valuables,” Patosa said.

She added, “Aside from not oversharing your personal information, just never share your OTP with anyone.”

BSP advised the public to beware of smishing or text scams that may fish their personal or account information through suspicious links.

“Always practice the C-P-R by Checking the legitimacy of the text message you received; Protecting your digital platform from keeping your password and OTP just to yourself; and Reporting any related incident to the concerned bank and e-money issuer,” the bank officer stated.

If the issue was not settled with the concerned financial institution, report the complaint to BSP through BSP Online Buddy (BOB) at ww.bsp.gov.ph or messenger at https://www.m.me/BangkoSentralngPilipinas/.

The world is not necessarily cashless but we can make our lives cash-lite.

We are not obliged to fully deviate from the traditional mode of payment but we are just given another viable alternative to safely and easily settle our financial transactions. (JCR/AMB/CGCC, PIA Region 1)