Date of Publication
12-9-2022
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Applied Economics major in Financial Economics
Subject Categories
Economics
College
School of Economics
Department/Unit
Economics
Thesis Advisor
Christopher James Cabuay
Raymundo Roberto
Paulynne Castillo
Defense Panel Chair
Krista Yu
Defense Panel Member
Christopher James Cabuay
Raymundo Roberto
Paulynne Castillo
Abstract/Summary
Digital payments had steadily increased since the outbreak, when everyone was encouraged to use them. Unlike related studies, the researchers collected data from financial service users on both the supply and demand sides. This paper analyses financial inclusion in households that use financial services and the factors that impact access to financial inclusion. It quantifies the determinants affecting low-income groups' participation in formal financial markets and examines whether digital payment indicators influence financial inclusion in the Philippines or vice versa. The research examines digital payments and financial inclusion in the Philippines using a unique data set that mixes pooled cross-sectional data with household-level characteristics. First, only debit cards and remittances affect low-income bank account openings. Second, government cash transfers, not digital payments, enable low-income families to become financially included. Finally, digital payments help eliminate some financial inclusion barriers. This paper's empirical findings help create digital payment rules and regulations to improve financial inclusion for economic growth.
Abstract Format
html
Language
English
Format
Electronic
Keywords
Electronic funds transfers—Philippines
Recommended Citation
Armedilla, J. C., & Durana, K. M. (2022). The impact of digital payments on the state of financial inclusion in the Philippines. Retrieved from https://animorepository.dlsu.edu.ph/etdb_econ/50
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Embargo Period
12-9-2024
