Tech - M2.0 Communications Inc. https://m2comms.com Public Relations Firm Tue, 13 Feb 2024 15:10:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 The 7 Best Pinoy Tech Influencers Taking Over https://m2comms.com/2024/02/06/best-tech-influencers/?utm_source=rss&utm_medium=rss&utm_campaign=best-tech-influencers Tue, 06 Feb 2024 09:47:57 +0000 https://m2comms.com/?p=33781 This is your essential guide to the leading voices in technology in the Philippines today. From innovative DIY projects to relatable tech insights, this article showcases the diverse and influential personalities who are shaping the way we view and interact with technology.  As we get into 2024, the digital landscape has been more alive than […]

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This is your essential guide to the leading voices in technology in the Philippines today. From innovative DIY projects to relatable tech insights, this article showcases the diverse and influential personalities who are shaping the way we view and interact with technology. 

As we get into 2024, the digital landscape has been more alive than ever, and buzzing with influencers who do more than just review gadgets and dissect software updates. They’re the trendsetters, the trailblazers, and the visionaries who are shaping the future of technology in the Philippines as we know it. To keep up, you have to know who’s on top.

That’s why we’re spotlighting the 7 best tech influencers taking over this year.  Prepare to meet the personalities who are not just witnessing the tech revolution, but are actively driving it. Each of them brings a unique perspective, an engaging style, and a depth of knowledge that both enlightens and entertains. 

1. Elyxirine

Elyxirine started out as a formidable force in the tech influencer arena. She is known for tech reviews and cute gaming set-ups. Her fast-paced editing style gives her audience entertaining videos to look forward to and replay.

@elyxirine

unboxing my Samsung S24 Ultra titanium blue 💙 IT’S FINALLY HEREE! I switched back to the S series as my main phone. I started with the S10+, then S21 Ultra, and now I got the S24 Ultra. The improvements and upgrades to this flagship phone are undeniably amazing!! ✨ I’m loving the Circle to Search, the Generative Edit features so far, and the camera quality is really impressive! The images and videos look like they were captured from my own eyes; it maintains the colors, the sharpness even with minimal noise! 🥰💙 part 2 soon~ 💅🏻 NewJeans nails gftd by @Cozynails Ph #samsung #s24ultra #samsungs24ultra #galaxys24 #galaxyai #galaxyzflip5 #epicjustlikethat #genshinimpact @Samsung @Samsung Philippines

♬ Bling-Bang-Bang-Born – Creepy Nuts

She makes sure that her audiences can know all about the complex gadgets she shows off in her videos. You’ll want to follow her if you want to stay ahead in tech.

2. Pinoy Knows Tech

Pinoy Knows Tech” stands out as one of the best guides for tech enthusiasts in the Philippines, especially for those who are hoping to save a bit when buying a new gadget. 

Run by a group of tech-savvy individuals, this channel is a go-to source for Filipinos seeking honest, in-depth reviews on the latest releases. 

What makes “Pinoy Knows Tech” stand out is their focus on value for money. They want to make sure that their followers make informed decisions before investing in new tech, especially since getting a new gadget can sometimes make a dent in your bank account. 

3. Sulit Tech Reviews

 “Sulit Tech Reviews” has become a great resource for the Filipino tech community, with a strong following of over 740k subscribers. This channel specializes in making tech accessible and understandable, particularly for the Filipino audience. 

Their weekly content, encompassing unboxings, first impressions, in-depth reviews, and tutorials, is delivered in Filipino, making it even more relatable.  

By breaking down the latest gadgets in a language that viewers get, they’ve established themselves as a trusted voice in tech reviews, guiding their audience through the often overwhelming world of consumer electronics.

4. Mary Bautista

One person stands tall in the Philippine tech review landscape, known for her comprehensive gadget reviews. If you haven’t heard of her yet, her name is Mary Bautista

With over 1.2 million subscribers, she’s arguably the most influential tech reviewer in the Philippines. Mary’s channel is chock full of information, covering any device you could think of;  From laptops and tablets to earphones and, notably, smartphones. 

Her approachable style and in-depth knowledge make her reviews highly valuable for anyone thinking about getting a new phone. 

5. Tech Builder

Tech Builder, known off-screen as Angelo Casimiro, is a shining star in the realm of tech influencers, especially when it comes to DIY. 

As an Electrical Engineering student, Angelo has garnered a big following on platforms like TikTok and YouTube, thanks to all of his innovative and accessible DIY projects. 

His content spans a wide range of projects, from practical builds like a DIY alcohol dispenser to more creative ones like a smartphone steering wheel. 

6. Carlo Ople

Carlo Ople, a big figure in the sneakerhead community, has also made his mark in the tech world. 

While he’s mostly known for his extensive collection and reviews of the latest sneakers, Carlo has seamlessly extended his influence into tech, showcasing his diverse interests and expertise. Along with sneaker unboxings, his channel also dives into tech, featuring content like what’s inside the $3000 Apple mystery box. 

This unique blend of sneakers and tech makes his channel a go-to for anyone into the same hobbies. For anyone with a foot in both worlds, Carlo’s channel offers a blend of content that’s hard to resist, and his ability to bridge these two worlds is what makes him a standout influencer.

 7. Isa Does Tech

Isa Rodriguez, or Isa Does Tech, brings a fresh and relatable perspective to the tech influencer landscape. 

With her background as a lifestyle editor for a tech publication, Isa combines her expertise in tech with an understanding of everyday user needs. 

@isadoes_

First look at the #SonyWF1000XM5 and I’m already impressed! So many features – will talk about more on the next video 👀 Meantime, get these on Lazada, Shopee & Tiktok Shop, link in IG stories! #AD #Sony #SonyPhilippines #ForTheMusic

♬ original sound – Isa does tech

What drives her forward is a genuine want to demystify tech, making it more accessible to a broader audience. You just don’t get true passion like that anymore–it’s reason enough for a follow. 

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House of Representatives and PhilHealth Websites Hacked: PH Cybersecurity at Constant Crisis https://m2comms.com/2023/10/17/ph-cybersecurity-hor-philhealth-website-hacking/?utm_source=rss&utm_medium=rss&utm_campaign=ph-cybersecurity-hor-philhealth-website-hacking Tue, 17 Oct 2023 00:58:19 +0000 https://m2comms.com/?p=32533 The Philippines is experiencing a rise in cyberattacks, putting internet users at risk. This article explores notable hacking incidents, urging brands and individuals to stay vigilant and take responsibility for online safety. The Philippines, like other countries, faces a growing danger of cyberattacks due to the rise of digital technology. This article examines notable hacking […]

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The Philippines is experiencing a rise in cyberattacks, putting internet users at risk. This article explores notable hacking incidents, urging brands and individuals to stay vigilant and take responsibility for online safety.

The Philippines, like other countries, faces a growing danger of cyberattacks due to the rise of digital technology. This article examines notable hacking incidents in the Philippines, comparing them to similar global events. The aim is to raise awareness of these cyber risks and encourage internet users to be cautious and responsible. By understanding these incidents better, we highlight the significance of individual vigilance in ensuring online safety for all.

Blog Overview

Oct. 15, 2023 – House of Representatives Website Defaced

The House of Representatives website was hacked and defaced on Sunday, marking another cyberattack on a government website.

A message saying “You’ve been hacked” appeared on the website’s landing page, congress.gov.ph, along with a troll face comic meme.

The message also included the text “Happy April Fullz kahit October pa lang!” and the hacking was claimed by someone named 3MUSKETEERZ.

This image shows the House of Representatives' defaced website, a clear PH cybersecurity crisis.
This image shows the House of Representatives’ defaced website on Sunday, October 15, 2023 (Screenshot from the HOR website)

House Secretary General Reginald Velasco confirmed the unauthorized access and stated that the House is working with the Department of Information and Communications Technology (DICT) and law enforcement agencies to address and investigate the incident.

The DICT stated that they are aware of the cybersecurity incident and are currently investigating its extent. They will provide further updates to the public as they become available.

Oct. 9, 2023 – DLSU Experiences Cybersecurity Incident

De La Salle University's official statement for the recent cybersecurity incident. One of the recent PH cybersecurity attacks this year.
De La Salle University’s statement on the recent cybersecurity incident on Monday, October 9, 2023 (Photo from the DLSU FB page)

De La Salle University experienced a cybersecurity incident that affected their on-premise-hosted applications. However, it did not impact student records and cloud-hosted applications.

The university has taken several preventive measures, such as taking network systems offline, restricting the use of DLSU-issued computers and laptops, and activating additional security features on Google Workspace accounts. To investigate the incident, DLSU has enlisted the help of a leading global cybersecurity company. The university is currently working on resolving the situation and restoring network systems. Updates will be provided to the community as they become available.

Sept. 22, 2023 – PhilHealth Data-Base Hacked

The personal information of some PhilHealth members was compromised after hackers attacked the website and online application. As per the National Privacy Commission, 734 gigabytes worth of data were leaked.

According to PhilHealth, user data including names, addresses, date of birth, sex, phone numbers, and PhilHealth identification numbers have been compromised. The company is currently working on directly notifying all affected individuals.

Those affected were advised to monitor their credit reports for any unauthorized activity, place a fraud alert on credit reports, change passwords on online accounts, and be cautious of phishing emails and smishing texts.

The attack occurred on September 22, but PhilHealth has emphasized that its primary database was not infected. The state insurer temporarily suspended its online services and transactions until September 29, when the website was restored.

Aug. 31, 2023 – DOST’s OneExpert Portal Compromised

The Department of Science and Technology (DOST) reassured the public that the recent cyberattack on the OneExpert portal did not compromise any personal information.

Although data resembling the names and email addresses of technical experts and users from the site was posted on Facebook, sensitive personal information remains secure. The OneExpert portal serves as a registry of Filipino experts, aiming to enhance access to their services and promote science and technology in the country.

The DOST, along with appropriate response measures, has restored normal operations and continues to monitor and log website usage for official records.

The DOST Statement Regarding the Data Leak on OneExpert. One of the recent PH cybersecurity attacks this year.
DOST’s statement regarding the data leak on OneExpert (Photo from the DOST Facebook Page)

PH is NOT ALONE in its Cybersecurity Crisis

In the face of ongoing cybersecurity crises, it is crucial to be alarmed and vigilant. However, it is also important to remain hopeful and remember that we are not alone in this battle. Let’s review some hacking incidents and how these websites successfully recovered.

Cyberattack on US Government Agencies

Cybercriminals have launched a global cyberattack on several US federal government agencies and hundreds of companies and organizations. While the hacks have not had significant impacts on federal civilian agencies, they add to a growing list of victims in a hacking campaign that has targeted major US universities and state governments. The Department of Energy and Oak Ridge Associated Universities are among the federal agencies affected. Johns Hopkins University and Georgia’s state-wide university system have also been compromised. Other victims of the hacking spree include the BBC, British Airways, Shell, and state governments in Minnesota and Illinois.

To quickly mitigate the crisis, the agencies promptly notified customers about the steps needed to secure their systems and temporarily shut down MOVEit Cloud to address the problem.

In addition, the Department of Energy acted swiftly upon discovering that two of its entities had compromised records. They immediately took measures to minimize the impact of the hack and notified Congress. They are now working together with law enforcement, the Cybersecurity and Infrastructure Security Agency (CISA), and the affected entities to investigate the incident and mitigate the breach.

Iran Government Website Hacked

Iran’s Ministry of Culture and Islamic Guidance (Ershad) and its affiliated websites were targeted in a cyberattack. The Mojahedin-e-Khalq (MEK) claimed responsibility, defacing the ministry’s website with photos of their leaders and disrupting multiple portals and servers. The MEK has a history of cyberattacks and has targeted Iranian state broadcasting channels and disrupted gas station payments in Iran. Previously listed as a foreign terrorist organization by the US, the MEK now maintains connections with politicians in the US and Europe.

The photos were immediately removed, and the ministry website is now back in operation. However, the Iranian government has not made any statements regarding the hacktivist cyberattacks.

FakeCalls Threat South Korean Banking and Finance Sector

A new banking Trojan called FakeCalls is posing as a banking app and imitating phone conversations with bank employees. It targets popular Korean banks and can intercept calls, displaying a fake call screen. The Trojan can connect victims to cybercriminals or play prerecorded audio to extract payment data. It can also activate the microphone, access personal information, and spoof incoming calls.

Unfortunately, these threats are still rampant in South Korea. To protect your data and money from cyber criminals, follow these tips. Only download apps from official stores, avoid unknown sources and be cautious of app permissions. Never disclose confidential information over the phone, and install reliable security software for all your devices.

In order to better understand the causes of these frequent security breaches, it is crucial for us to examine the insights provided by Cyfirma, a cybersecurity firm. They offer a comprehensive perspective on the current prevalence of these attacks. 

PH Vulnerable Cybersecurity Decoded

The Philippines is situated in a strategically important region that is home to a significant population and global trade. In this region, there are various geopolitical challenges, including the rise of China and the ongoing conflict over Taiwan. Due to its close ties with the United States and its location in the South China Sea, the Philippines is vulnerable to cyberattacks. Additionally, North Korea poses a notable cyber threat as it continuously improves its attack techniques. 

As the Philippines strengthens its relationship with the United States, it also exposes itself to an increased risk from China. Chinese policy in the region has led to the formation of tighter security partnerships, potentially creating competition for other powers, including the Philippines. It is worth noting that Russia’s increasing reliance on China is a significant development, hinting at the formation of a potential Eurasian bloc that could challenge other regional powers. 

Given its location, the Philippines plays host to various cyber actors, including China, Russia, and North Korea. The conflict over Taiwan is a major security concern, as it could have unpredictable cyber consequences. In light of these challenges, it is crucial for businesses in the Philippines to prioritize strengthening network security and cybersecurity practices.

Preventative Strategies and Best Practices

Protecting against cyber threats in the digital world doesn’t have to be overwhelming. By understanding common hacking methods and staying informed, you can strengthen your cyber defenses. Here are some simple steps to prioritize cybersecurity:

  • Keep things updated: Regularly update your software to prevent hacks that exploit outdated systems. Stay informed about new scams and threats to stay one step ahead.
  • Create strong credentials: Use strong, unique passwords and consider using a password manager. Add an extra layer of security with two-factor authentication.
  • Be cautious with connections: Avoid unsecured Wi-Fi networks and consider using a Virtual Private Network (VPN) to encrypt your internet connection and protect your data.
  • Think before you click: Be mindful of unsolicited emails, links, and attachments. Verify sources and use official communication channels whenever possible.
  • Back up your data: Regularly back up important information to avoid losing it in case of a cyberattack.
  • Stay informed: Follow reputable sources for updates on cybersecurity and stay aware of the latest threats.

By adopting these practices, you not only protect yourself but also contribute to a safer internet for everyone.

What’s Next?

The cyber threat landscape is vast and complex, affecting countries worldwide, including the Philippines. It is crucial for us to collectively respond to this global challenge by increasing awareness and adopting safe internet practices. This article aims to showcase the prevalence of hacking incidents both locally and internationally, emphasizing the significance of individual vigilance. Although we cannot control cybercriminals and their methods, we can control our actions and the precautions we take. Let’s stay informed, be cautious, and promote a responsible digital culture to create a safer online environment for everyone.

M2.0 Communications is a seasoned PR and crisis communications agency in the Philippines. Our experienced senior management team helps you stay ahead of issues and provides practical advice during high-risk situations. Learn more about our work by visiting our case studies page.

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A Story of Supply and Demand: PS5 vs Scalpers https://m2comms.com/2022/11/15/a-story-of-supply-and-demand-ps5-vs-scalpers/?utm_source=rss&utm_medium=rss&utm_campaign=a-story-of-supply-and-demand-ps5-vs-scalpers Tue, 15 Nov 2022 10:28:57 +0000 https://m2comms.com/?p=24171 There are a lot of gamers in the world. Unlike the smartphone industry, gaming consoles only release new models every few years. These launches are always met with a lot of eager buyers. New console, new technology, new possibilities for gaming. Everyone wants a piece of that. A select few aims to take advantage of […]

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There are a lot of gamers in the world. Unlike the smartphone industry, gaming consoles only release new models every few years. These launches are always met with a lot of eager buyers. New console, new technology, new possibilities for gaming. Everyone wants a piece of that. A select few aims to take advantage of it.

In gaming, “play has no limits”, or so they said.

Sony’s PlayStation 5 was announced on September 9, 2020 and was met with a lot of praise and hype. With a release window of a month before the Christmas holidays, and coming off of an extremely successful PS4 lineup that dominated the market for 8 years, the PS5 console was a guaranteed seller for the company.

But, scalpers had a different way of seeing it.

The first red flag came in the form of a pre-order system that was announced a day before. Needless to say, it was an absolute disaster. Websites crashing, servers not holding up, people being rushed due to the lack of an early heads up, and everyone’s favorite, scalpers taking up all of the available stock for themselves.

When all you do is sit on your computer waiting for stocks to be open again and use automated bots to purchase faster than a human can ever compete against, and sell that product with an extremely inflated price on the internet, you’re probably a loser.

It’s bad enough that Sony can barely keep up with the high demand for the product due to semiconductor shortages well into the one-year mark since its release. The public now has to deal with scalpers who take up all of whatever stock is available for their own profit. It makes the PS5’s slogan“Play Has No Limits” all the more ironic. Sorry Sony, but it has a LOT of limits.

Supply and demand

Scalpers have been causing headaches for the tech industry for quite a while already. They see how much the public wants to experience the product and so they profit off of people’s desperation.

It’s completely unethical.

Sony has revealed that they’re already selling the PS5 at a loss because of “strategic price points for hardware that were set lower than the manufacturing costs” the opposite can be said for weirdos on the internet, a.k.a. scalpers.

One can argue that scalpers exist because people are there to tolerate them. They wouldn’t be doing it if they weren’t making money in the first place. The best way to deal with it is to *gasp* stop buying from them. But, I guess some people back then weren’t ready for that conversation just yet.

Press Play

As unfortunate as it all may sound, there is light at the end of this tunnel. Since its launch last November 12, 2020, stocks for the PS5 are somewhat improving even though it still might be inconsistent going into 2022. We have a global pandemic to thank for that.

Retailers are getting creative when it comes to their strategies to prevent scalping. Selling a console through a bundle to throw off an automated bot that focuses on purchasing just the console alone, selling at a much higher price, and then refunding the customer after the transaction is made, only allowing people who sign up for a personalized newsletter to receive a pre-order form, they all do their own little way of helping out those who just want to buy normally. Heck, I even managed to get myself one a couple of months ago because of these said tactics.

No one likes a bully. Especially ones that affect our wallets. One of my favorite narratives that developed this year is finding out that scalpers are now losing money slowly, but steadily. It’s even gone as far as the bully getting bullied themselves.

The problem still exists, but at least more and more people are starting to realize that being patient is way better than paying two or even three times more. I look forward to the day when everything comes back to normal. People can meet face to face, I don’t have to go outside wearing a mask, and being able to play video games with a lot more people.

M2.0 Communications is a public relations and digital marketing agency helping brands creatively engage their target audience through data-driven narratives. We offer a range of services including PR advisory, media analytics, social media marketing, and influencer strategy and management.

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The Semiconductor Shortage and Its Effect on Healthcare https://m2comms.com/2022/11/15/healthcare-today-gasping-through-a-semiconductor-shortage/?utm_source=rss&utm_medium=rss&utm_campaign=healthcare-today-gasping-through-a-semiconductor-shortage Tue, 15 Nov 2022 10:06:58 +0000 https://m2comms.com/?p=13541 The tech industry has been on a lifeline since the pandemic hit in 2020. Semiconductor shortages have not been kind to everyone involved. Producers, consumers, retailers, and arguably more alarming, patients.  Patients can’t get impatient. The healthcare industry was unexpectedly slapped to the face by COVID-19. As much as we all think life sucks because […]

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Tech

By: Renzo Guevara

medical staff in the healthcare industry

The tech industry has been on a lifeline since the pandemic hit in 2020. Semiconductor shortages have not been kind to everyone involved. Producers, consumers, retailers, and arguably more alarming, patients. 

Patients can’t get impatient.

The healthcare industry was unexpectedly slapped to the face by COVID-19. As much as we all think life sucks because we now have to work from home and are unable to come and eat or drink outside, we fail to see much more pressing problems.

What about the patients and the healthcare workers that deal with the damn virus themselves?

Hospitals are powered by technology. It ain’t the dark ages anymore, we actually have the equipment to deal with a pandemic this time. As cases grow each day, doctors and nurses are left to treat not only COVID-19 patients, but also any other sicknesses the world has already been dealing with for years.

Manpower is already shrinking due to burnout or the high risks of being a healthcare worker, and medical equipment is also becoming harder and harder to come by. Patients who are at critical states in need of treatments have no choice but to wait till supplies allow it. The world just can’t keep up with all of it.

Doc, we have a problem.

Semiconductor manufacturers are bombarded with orders from all sorts of industries. Almost every piece of technology in the world uses semiconductors. And oh my, who uses technology?

Everyone. Literally, everyone.

The medtech world is almost begging to be prioritized at this point. No one can argue that supplying a device that can potentially save a life is way more important than making another iPhone but it’s not like other industries should be neglected to meet the huge demand for healthcare. That would cause even more problems to the economy.

It’s not an easy conversation to have. The world needs tech more than ever. Everyone needs a phone, computer, internet, and home appliances because we’re all stuck inside. Do chip manufacturers cater to our needs so we can go on with our jobs or do they provide only to the medical side of things? There is no clear answer.

Get well soon, please.

Critical medtech devices such as defibrillators, peacemakers, ventilators, or anything that powers an ICU wing are gasping for air at this point. What used to be around a month or two dedicated to manufacturing chips has now escalated to 30-40 weeks.

We might have to strap in longer.

General Electric (GE) already warns that the shortage will last long into 2022 and even then, no guarantee that things will get any better at a significant rate. Here’s to hoping the world gets back on its feet sooner rather than later. Some lives really depend on it.

ALSO READ: The US Healthcare Narrative: Democrats vs Republicans

About M2

M2.0 Communications is a PR firm in the Philippines helping clients strategically send their message and creatively engage their target audience. We specialize in digital public relations, digital marketing, influencer strategy, crisis communication, reputation management, and stakeholder management. M2 also offers media analytics services including brand performance analysis, media monitoring, and social listening.

As one of the top PR agencies in the Philippines, we ensure that our storytelling strategies adopt an evidence-based approach.

Learn more about what our communications agency does by heading over to our case studies page.

 

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What Does A Future Beyond Smartphones Look Like? https://m2comms.com/2022/11/15/imagining-a-future-beyond-smartphones/?utm_source=rss&utm_medium=rss&utm_campaign=imagining-a-future-beyond-smartphones Tue, 15 Nov 2022 07:48:27 +0000 https://m2comms.com/?p=13451 Technology development is weird. It’s also unpredictably fascinating. One day we all thought that flip phones were such a cool thing (admit it you liked the idea of flipping off a call in such a sassy way), and now we’re dealing with touchscreens… which are also trying to turn into flip phones… but that’s beside […]

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Tech

By: Renzo Guevara

virtual reality beyond smartphones

Technology development is weird. It’s also unpredictably fascinating. One day we all thought that flip phones were such a cool thing (admit it you liked the idea of flipping off a call in such a sassy way), and now we’re dealing with touchscreens… which are also trying to turn into flip phones… but that’s beside the point. The future is exciting, but we know little about it.

Thank you, next.

Year by year, we’re bombarded with tech showcases that basically amount to which company can flaunt the shiniest looking flagship phone. We’ve come a long way from the original iPhone reveal back in 2009. Even though frequent releases may suck for our wallets, it’s quite the opposite for what it means to the tech industry.
Designed to outdate others.
If you were to talk to someone from a couple of decades ago and say that the DVD player, GPS, health tracker, map, video camera, editing software, video game or whatever app it is you can think of can be found in just that one block of screen you’re holding, they’d probably pee their pants.
Smartphones are specifically designed to make life easier and make processes much more convenient. It’s a product meant to streamline life itself at the cost of making past technologies obsolete.

Them phones bout’ to be outsmarted

Even though we sit comfortably with the smartphones we have today – shelling out thousands of dollars for a product that’s essentially the same with slight adjustments and adding a +1 to the product name’s number, there’s still a constant desire to see what’s the next big thing.
There’s always the next big thing.
A life beyond the screen sounds like an ideal situation amidst the over saturation and dependence on tech but it’s also something the industry is trying to explore. Concepts such as virtual reality have been trying to ease its way into the mainstream but despite it being unique, it’s not quite there yet.
There is one common idea that’s going around innovation conversations – that the way to innovate smartphones… is to move away from smartphones. I guess they’re the next in line to be obsolete.

Face reality

You ever look at your phone and think “dang, I wish I could wear this.” Tech companies definitely think so.
We’re in the endgame now.
It seems that we are at the peak of where smartphones can get at this point, or at least gearing towards it any time soon. Connectivity is king. Wires are being removed, ports are reduced, voice command, and 5G is becoming more and more popular.
All these “innovations” point to a future where we barely have to use our hands anymore. I guess when people watched Tony Stark flip around with holograms they thought “yo, we can definitely do that.” Technology isn’t just about making life easier at this point, it’s about standing alongside life itself.
Virtual reality, augmented reality, and mixed reality. A world that is no longer limited to the four corners of your screen. Whether this can come from a watch, a pair of glasses, a necklace, or even a shirt. Wearable tech is possible to come. Heck, we already have bits of it in the form of smart watches and wireless earphones. It’s only a matter of time until those sci-fi stories aren’t so “fiction” anymore.

M2 is a leading communications agency and PR firm in the Philippines that specializes in business, technology, and lifestyle communication. We focus on digital public relations, influencer strategy, stakeholder management, and media training.

Find out how we help clients and partners tell their stories through our case studies page.

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The Rise of the Cashless Economy https://m2comms.com/2022/11/10/the-rise-of-the-cashless-economy/?utm_source=rss&utm_medium=rss&utm_campaign=the-rise-of-the-cashless-economy Thu, 10 Nov 2022 03:25:07 +0000 https://m2comms.com/?p=13214 The Philippines continues to be a cash economy, but e-wallets and cashless payments are ushering in a new digital space for everyone. How did e-wallets convince a cash-first economy to use digital money? How did they accomplish what traditional banks have been trying to do for several years now? Less is more How do you […]

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Tech

By: Renzo Guevara

image of cashless payments

The Philippines continues to be a cash economy, but e-wallets and cashless payments are ushering in a new digital space for everyone. How did e-wallets convince a cash-first economy to use digital money? How did they accomplish what traditional banks have been trying to do for several years now?

Less is more

How do you change something that generations have been so accustomed to for so long? Making transactions is a simple concept to grasp. If you want to purchase something, you pay the necessary amount for it. It is one of the earliest things taught to children using toy cashiers and Monopoly board games.
It’s easy to think that the trend toward going digital with money started when the COVID-19 pandemic first came and forced everyone to reduce physical contact with each other. The world has always been looking for ways to make finances faster, easier, and safer.
Think about what you had to do before. Every transaction you did during the day required you to pull out a wallet or coin purse. Public transportation required extra change, your morning coffee and daily food were paid in cash while waiting in line alongside others and whatever other errand you may have.
No one likes bringing around a thick wallet or a heavy coin purse. From carrying around bags of gold and silver to eventually printing on paper bills, the money system has been evolving towards portability. Carrying as much as you can while carrying nothing at all.
The earliest example of this came in the form of credit/debit cards and checks. Quick in-and-out payment options eliminate the few extra minutes spent making sure you brought the right amount of money, counting what you have to pay, and making sure that you receive the correct amount of change.
That’s not even mentioning the extra burden of worrying about losing whatever amount of money you have, especially if you’re carrying a large amount. And what if you finally reach the store and realize that you don’t have enough to pay?
Going cashless with transactions is the way to go. Fast, efficient, convenient, relatively safe, and you eliminate the extra feeling of guilt when you give a bunch of cash bills to the cashier when you do retail therapy. The good news is, you only really need a phone to go digital with your money. What used to only be a concept seen in the likes of sci-fi stories is now happening in today’s society.

Mobility of payments

A survey conducted by finder.com estimated that around 150 million Americans have used digital payment methods. 66% of survey participants said it was because of convenience.
Further proof that it will be the preferred payment method sometime in the future is that 85% of Gen-Z have embraced digital wallets with 81% of millennials following shortly after.
Phone payments have been around since 1997 when Coca-Cola set up vending machines that people can purchase from using texts. What the COVID-19 pandemic has done is to further expose people to the many benefits it has.
Initially, it was just because stores were closed and people were forced to stay at home. Deliveries and online stores became a go-to for any customer. The problem is, money can get really dirty with some claims saying that it can be nastier than a household toilet and that it can carry around diseases from one person to the other. One of the more famous post-apocalyptic video game stories even has “Dollar Flu” as the main cause of conflict.
And that’s where the likes of GCash and Maya (formerly PayMaya) came into popularity. The number of Filipinos who are getting into e-wallets are growing rapidly with the count being 9 million back in 2017, almost tripled in 2020, and now projected to be around 75 million by 2025. Around P2.39 trillion were transferred via e-wallets back in 2020.
Nowadays, it feels weirder to pay in cash compared to the quick and easy transactions e-wallets provide.
Speaking of speedy transactions, it also solves a geographical problem. You no longer have to go through a carrier delivery service or pay extra fees for bank transfers to send money to people who are far away from your current location. E-wallets can make it all possible with just a few clicks.

Is cashless the death of cash?

Should financial institutions gear up for the inevitable loss of cash? According to the Global Payments Report (GPR), only 20.5% of global POS transactions were conducted with cash in 2020. This was a 32% reduction from the year prior. It is expected to drop further to 12.7% by 2024.
According to Mike Kresse, head of global B2B payments at FIS, “Cash can’t compete with rising expectations for fast, safe, and easy payments. The smartphone was already transforming payments, and the pandemic brought the future faster, accelerating the trends.”
The lesser cash in circulation means that people are less inclined to go visit the bank and the fewer visits to banks means that there will be less need for them to exist in the first place.
The way society operates nowadays heavily favors snappy processes. We want everything done within a couple of seconds. Customers expect their transactions the moment they make the decision.
The question isn’t whether or not we should prepare for cash disappearing in the future, we’re already seeing it happen now. Either you get in on it, or you’ll be stuck counting the change while everyone else has moved on.

About M2

M2.0 Communications is a Public Relations firm and digital marketing agency based in Quezon City, Philippines. From PR campaigns to media analytics, we are changing the way companies utilize data to understand, plan, and strategize. Click here to see how our communications agency helped our partners achieve their goals.

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