It’s 2022 and as we head into year three of this pandemic, Omicron, the latest coronavirus variant of concern, continues to surge.

Due to pandemic-related restrictions, digital wallets have become the primary mode of sending and receiving money.

Because of the large number of overseas Filipino workers, fintech or financial technology plays a key role in financial inclusion in the Philippines. 

“You can see that the market is shifting towards digital receive methods,” said  Earl Allan E. Melivo, country director of cross-border digital payments service WorldRemit. “We’re already seeing that as evidence of ... a more efficient industry.”

In this B-side episode, Mr. Melivo explains to BusinessWorld reporter Brontë H. Lacsamana how the pandemic is spurring the rise of digital financial services, and how internet penetration is hobbling it.

Recorded remotely on Dec. 16, 2021. Produced by Brontë H. Lacsamana, Paolo L. Lopez, and Sam L. Marcelo.