THE recent years saw a massive growth in digital adoption with internet usage penetration reaching close to 70 percent of the Philippine population at the start of 2022, pushing the growth in annual spend on online consumer goods purchase to 26 percent, approximately valued at $17 billion, as revealed by a study done by digital research provider We Are Social and Statistics. This drove businesses to accelerate their digital transformation initiatives and improvements, particularly in the areas of receiving payments and collections, to be able to optimally cater to the demands of a still rapidly growing digital economy.
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