Travel reopening points to greater use of digital payment products — Visa

THE reopening of borders promises greater use of digital payment systems, according to the Visa 2021 Global Travel Intentions study.

Visa said in a statement that 63% of Filipinos who intend to travel plan to resort to digital payments due to safety concerns and comfort with the up-and-coming payment channels.

Some (34%) expressed a preference for mobile payment systems while traveling, with credit cards cited by 24% and debit cards by 31%.

The study also found interest in travel insurance products that protects them from COVID-19-related risks including the cost of medication and treatment (59%), quarantine charges (52%) and hospitalization (41%).

“These findings reflect the changing outlook Filipinos have on traveling as the coronavirus disease 2019 (COVID-19) situation evolves. We have seen a rebound in travel in many parts of the world as borders open, and Filipinos are optimistic about traveling again,” Visa Country Manager for the Philippines and Guam Dan Wolbert said.

“Similar to other markets, Filipino travelers are conscious about following safety protocols and also want to feel that they have sufficient access to health protection… while they are abroad,” he added.

More than half (56%) of respondents in the Philippines are interested in international leisure travel in a travel bubble setup.

Preferred destinations were the US, Japan, Hong Kong, Canada, and Thailand. Other destinations generating interest are South Korea, Australia, and Dubai.

Key considerations cited by those intending to travel are free COVID-19 tests (57%), access to hospital care (51%), and flexibility in changing travel plans (37%).

“As we see the number of COVID-19 cases trending downwards in the Philippines and the government’s decision to start opening our borders, we share the optimism of Filipinos that the road to recovery is beginning,” Mr. Wolbert said. — Luz Wendy T. Noble