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Unleashing the Power of Digital Payments: Advancing Sustainability, Transparency, and Inclusivity

When it comes to addressing global imperatives to promote diversity, increase financial transparency, and address environmental problems, digital payment systems are emerging as a disruptive driving force. Beyond mere convenience, these technologies have the power to radically alter how we interact with and conduct business in the financial sector.

The Bangko Sentral ng Pilipinas (BSP), which aims to advance the country’s digital payment ecosystem in accordance with the Digital Transformation Roadmap 2020–2023, is at the forefront of financial digitization in the Philippines. The central bank has set high goals for this year, hoping that by the end of the year, digital payments will account for 50% of all retail transactions and cover 70% of the adult population of the Philippines.

In line with the objectives of the National Strategy for Financial Inclusion, the BSP upholds a persistent commitment to digitalizing retail payments, attaining sustainability, and fostering inclusive digital finance.

Let’s now take a closer look at the important benefits that digital payments offer.

Reducing Environmental Impact and Cost Burden

Adopting digital payment systems is essential for lowering our environmental impact and the high expenses related to producing, distributing, and discarding traditional cash notes and credit and debit cards. The traditional reliance on paper-based transactions substantially increases trash creation, carbon emissions, and deforestation. In sharp contrast, digital payments reduce the demand for paper while simultaneously reducing the cost associated with its manufacture. Aside from lowering our reliance on physical transportation, the change to digital transactions also results in more cost-effective operations, lower administrative costs, and improved supply chains. In light of our shared commitment to protecting the environment and its natural resources, switching to digital payments is both a moral and practical decision.

Promoting Transparency and Trust

The advent of digital payment systems marks the beginning of a new era of financial openness and increases confidence among customers, companies, and financial institutions. Transactional data is safely stored and easily available in a digital economy, encouraging responsibility and visibility. For instance, blockchain technology offers an unchangeable and visible ledger, reducing fraud and promoting faith in financial systems. Consumers who choose to support sustainable firms and projects may make educated selections and connect their financial decisions with their values thanks to increased openness. Businesses are then encouraged to uphold moral standards, furthering the cause of environmental and social responsibility.

Empowering Financial Inclusion

Millions of underprivileged people globally can finally access financial inclusion thanks to digital payment options. Due to geographical restrictions and high operating expenses, traditional banking systems frequently ignore vulnerable groups. People in remote locations can access banking facilities using their smartphones thanks to digital financial services that overcome physical constraints. The underbanked and unbanked populations are empowered by these inclusive payment systems, which give them a safe way to save, invest, and engage in the formal economy. By accepting digital payments, we close the economic gap and provide people the tools they need to actively contribute to the development of their country.

Enabling Sustainable Economic Growth

Through increased efficiency and decreased waste, the growth of digital payments supports sustainable economic growth. Digital transactions reduce administrative costs and expedite operations, which save organizations money. They also optimize supply chains. Additionally, the data provided by digital payments enables companies and decision-makers to learn more about consumer behavior, preferences, and market trends. Utilizing this knowledge, businesses may create cutting-edge goods and services that satisfy sustainable needs and promote a circular economy that reduces waste and conserves resources.

Data Collection and Credit Scores

In relation to credit, credit ratings have become a crucial financial metric in our rapidly changing society, where digital payments are replacing cash transactions. These numerical depictions, which capture a person’s financial behavior and history, evaluate their creditworthiness. Payment history, credit utilization ratio, length of credit history, types of credit used, and the frequency of opening new credit accounts are all factors that affect credit scores. In the Philippines, the Credit Information Corporation (CIC) serves as the central repository for credit information, renowned for its comprehensive and diverse credit database covering 41.8 million individuals, or almost half of the Philippine adult population, from across 829 financial institutions of various industries.

As the country’s first virtual credit wallet offering Pay Later and Quick Loans, Mocasa sees credit scores as key factor in assessing and approving borrowers. But more importantly, we think it’s crucial for users to have access to such information so they may manage their creditworthiness more skillfully and make informed judgments.

As a CIC-authorized Accessing Entity (AE), Mocasa users can now gain access to a wide range of financial services, including personalized credit reports, credit scores, and credit monitoring. By combining our strengths and expertise, Mocasa and CIC are poised to revolutionize credit management and payment solutions, driving financial empowerment and inclusivity.


It is impossible to emphasize the growing significance of digital payment options in our quest for sustainability, openness, and financial inclusion. In order to bring about constructive change, we as thought leaders, decision-makers, and responsible citizens must embrace these transformational technologies. We can create an equitable, affluent, and environmentally mindful future by lowering our environmental footprint, boosting transparency, empowering financial inclusion, and enhancing cybersecurity.

Let’s take use of this opportunity to work together, develop, and promote the broad use of digital payment systems. Together, we can build a society where each and every financial decision is founded on transparency and trust, every individual is valued, and every transaction contributes to a sustainable future. empowered with financial inclusion and opportunity. The time for responsible digital payments is now, and the future we envision is within our grasp.

Founded in 2021, Mocasa is a fintech company focusing on providing innovative credit payment services to the Philippine market. It aims to enable Filipino users to experience the convenience of credit payment anytime and anywhere – whether online or offline – while also enjoying benefits such as zero interest when paying on time, flexible installment plans, and credit limit growth.

Currently, Mocasa has over 200,000 users who have successfully obtained credit limit. It has also integrated with many well-known partners to provide quality credit services such as Mastercard and accredited by Securities and Exchange Commission (SEC) and Credit Information Corporation (CIC).

To learn more about Mocasa or to experience its credit payment service, visit or download the Mocasa App in Google Play or Apple App Store.