Filipinos trust fintech services that are easy to use and secure – Manila Bulletin

Opinion and data analysis firm WR Numero Research (WRN) conducted a new survey, Special
Industry Report on FinTech in the Philippines. According to the survey, GCash and Binance are
the most trusted mobile wallet and cryptocurrency platforms, respectively. These two platforms
are trusted because people feel they are easy and safe to use.

85% of survey respondents said GCash is the most trusted mobile wallet.
They pointed to the application’s ease of use (73%), security (55%) and transparency (50%) as
basis for trust.

WRN also found that across cryptocurrency exchanges and marketplaces, Binance appeared as
the most used and trusted platform, of which 49% of respondents answered to be cryptocurrency

users and of those users, 74% used Binance, and 52% cited Binance as the most trusted
Exchange.

“Cryptocurrency exchange services are quite new compared to the other fintech services. And if
the current trend of fintech adoption among Filipinos continues, we can expect the number
Filipino cryptocurrency users are also likely to increase in the coming years, Cleve V said.

Arguelles, Fellow and CEO of WR Numero Research. “According to
survey, most Filipinos (87%) believe that cryptocurrency is beneficial to the Philippines’ economy
and for that reason the government should support the industry (81%).

Users of Binance trust the platform for its ease of use (64%), safety and security (62%), and
easy conversion of funds (58%). 85 percent of respondents who use Binance answered that the platform will contribute to the growth of the country’s economy.

WRN uses several levels of statistical intervention in its digital surveys to arrive at accurate results.
The firm commissioned a nationally representative digital survey of 1,200 Filipinos
adults between 27-29 August 2022. It has a margin of error of ±4% with a 99% confidence level.

The survey responses were statistically weighted to the national profile of all Filipino adults, including
those without internet access. All reputable public opinion research agencies weigh data to correct
sampling in surveys, whether conducted online or face-to-face. The use of statistics
weights ensure that the final survey data accurately reflect the target population.