Industry leaders are pushing for the financial inclusion of micro, small, and medium enterprises (MSMEs) in the Philippines.
In a hybrid webinar, Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat noted that opportunities are available for aspiring Pinoy entrepreneurs, but it lacks accessibility. She noted that there is a need for digitalization for the sector, especially for payment and transactions.
She also noted the progress of the country in terms of e-accounts, going beyond savings and credit to cover services like payment, insurance, and remittances, it was seen that 6 out of 10 Filipinos now regularly make online transactions.
“From just being a tool for saving and safekeeping, an account has become a tool for convenient transactions any Filipino can benefit from,” she said.