UM Study Shows that 77.4% of Dabawenyos Prefer Cashless Payment Platforms

The University of Mindanao Institute of Popular Opinion (UM -IPO) conducted an online survey from December 5 to 25, 2024, gathering 1,550 responses from Dabawenyos in the three districts of Davao City to know their opinion on the effects, benefits, and disadvantages of using cashless payment platforms.

The survey revealed that 77.4% of 1,550 respondents preferred using cashless payment platforms. Nine out of ten users reported using mobile wallets such as Gash and Maya while online banking and debit/credit cards were utilized less frequently. In terms of usage, 3 out of 10 Dabawenyos used cashless payment platforms several times a week, followed by the usage of daily, weekly, and monthly.

In terms of usage patterns and preferences, it is commonly used for online shopping, bill payments, groceries, and dining out. Other notable uses included transportation, tuition fees, and mobile load top-ups.

36.33% Dabawenyos stated that they spent more due to ease of transactions, while others indicated that they spent less likely due to better tracking tools and saw no impact on their spending behavior. On the other hand, the primary factors influencing changes in spending habits were convenience, impulse buying, and promotional discounts.

It has also been discovered why it is the preferred mode of payment, as it offers convenience, speed, and decreased reliance on cash.

Cashless payment platforms have become popular among the Dabawenyos. With the prevalent and growing technology, its use has become easy and convenient. While this technology comes with benefits, there may be downsides to it too. UM, IPO suggests to be always vigilant and responsible when it comes to using cashless payment platforms.