Cebu expected to be a major PH fintech community

Expect Cebu to become a major fintech force in the country as the Digibeez Summit brought eight global e-commerce and social media platforms together with local startups and SMEs. Through the event Digibeez, the organizers seek to help entrepreneurs and the business community learn ways to increase revenue and expand their business through online payments and related services.

"Young and energetic entrepreneurs responded heartily to our call to adopt fintech solutions in Cebu. I expect Cebu to become a major force in the Philippine finance technology community," said Dr. Dick Chiang, COO of Dragonpay.

The following SMEs (Subject-Matter-Experts) were present in the event: Samuel Jeanblanc, Market Lead of Google Philippines; Ash Mandhyan, Client Solutions Head of Facebook; Nagesha Devata, Director of Paypal Southeast Asia; Martin Yu, Business Intelligence Head of Shopee; Allan Brizuela, President of Black Arrow; Itamar Gero, Founder and CEO of Truelogic; Ron Baetiong, Founder and CEO of Chatbox PH, and Denise Haak, CEO of Quiddity.

Chiang noted that Cebu has become a center for e-commerce and fintech in central Philippines. Not only are major e-commerce outfits profitably operating in the country's second economic center, there is rapid growth in entrepreneurs going online along with the rapid and sustained growth of the BPO industry.

While coping with typical urbanization problems like traffic, Cebu is highly livable with thousands of foreigners deciding to reside here. The annual Sinulog festival also attracts millions of tourists. Online savvy expats and visitors further fuel e-commerce and fintech growth.

The speakers showcased that although technology is important, there's still a lot of moving parts to make these services seamless. Chatbot technology still needs more data and needs to be taught. The logistics aspect of e-commerce, although working right now, still has plenty of areas of improvement, just to name a few.

Business-to-business collaboration is even more important in today's highly competitive environment. And local SMEs not just in Cebu but also the rest of the Philippines can take advantage of these digital technologies to meet the needs the ever increasing number of digital savvy consumers.

About Dragonpay

Dragonpay is a Philippine-based payment solution company that helps facilitate alternative payment schemes for online shoppers without bank accounts or credit cards. Its mission is to make e-commerce available to all Filipinos.

For over eight years, Dragonpay has become a trailblazer in the fintech industry with over 118 million completed transactions and 11 million unique users, most of whom are based in the Philippines. With this success, Dragonpay has created a buzzing hive for local businesses.

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