Global digital payment leader PayPal said it is optimistic about the Philippine market given the rising number of freelancers in the country.
“The Philippines is our fastest growing market in Southeast Asia in terms of business and consumer sectors. It is the second largest market in Southeast Asia and as a proportion of Philippine population, the Philippines has the largest proportion of freelancers in the world,” Rahul Shinghal, general manager of PayPal Southeast Asia, said.
The Philippines has about 1.5 million freelancers, while India has 5 million freelancers.
“PayPal has always been supportive of freelancers and MSMEs [micro and small medium enterprises] in Southeast Asia, ensuring the our customers get the best tools to move and manage their money seamlessly as they take charge of their cross-border business. The launch of the PayPal Business App is a testament to that,” Shinghal said.
“As the Asean integration spotlights entrepreneurs, we are doing our own part in empowering the community by providing new services and programs that could accelerate their opportunities in line with Asean’s Money, Markets and Mentor’s framework,” Shinghal said.