Infra needed to propel a cashless society -Cu

While going into a cashless society is a good move to bolster entrepreneurship in the Philippines, Globe Telecom is reiterating the crucial role of the government in preparing Filipinos for a digital economy.

“There are some parts (of the country) that cannot be reached. Obviously, because they aren’t economically viable, that is why we say to government, help us build there. And hopefully they will,” said Globe Telecom president Ernest Cu.

Globe and its rival telco Smart have been urging the government to help them build infrastructure, especially in the far flung areas.

Cu pledged that Globe will continue to pour in huge investments for infrastructure to enable more Filipinos to take part in the expanding digital economy.

“The improvements will continue. We spent $850 million this year and we will continue to spend in that kind of magnitude over the next few years as well,” said Cu, in his recent visit to Cebu for the launching of GCash Scan to Pay platform in Ayala Center Cebu.

He added that Cebu will get a good share of Globe’s infrastructure initiatives.

Earlier, Globe credited the active support of local government units (LGUs) in helping them accelerate its target in providing connectivity to most households.

For Cu, the rollout of cashless payments is another initiative to realize the inclusive financial growth in the country.

Aside from helping merchants provide an easy and convenient payment system to customers, this would also help them understand customers’ buying behavior.

Cu said that through the digital payments, they can provide partner merchants’ with analytics they need to boost sales.

“This creates opportunities, as it helps small businesses. There is no need for POS, just a particular QR code,” he said. /