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Shopping carts are abandoned in 88% of online orders, with the requirement to re-enter credit card information being among the top reasons (30%) for leaving the store without a purchase. With e-wallets, a customer's payment details are saved securely within the service, simplifying the checkout process, effectively reducing the cart abandonment rate for businesses.
The Philippines has logged the highest percentage of new electronic-cash adopters in Asia Pacific amid the pandemic. The Philippines leads the region in e-wallet adopters, with 37% of respondents saying they started using digital methods during the pandemic.
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