[List] Safest E-Wallets in the Philippines

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The Covid-19 pandemic has urged everyone to be more sensitive with their personal hygiene as well as avoiding being in crowded places and getting in contact with other people. This way is not just for personal benefits but also contributes to the safety of the country, as a whole.

Since we all know that money is one of the things that pass through a lot of human hands making it very unclean and due to the limitations in physical activities, this pandemic has encouraged many people to engage in online payments. 

A mobile wallet, virtual wallet, or e-wallet is a mobile application that makes payments possible online. Here are the top 5 most famous and trusted e-wallet in the Philippines.

1. Gcash

best e wallet in the philippines

GCash App is a virtual wallet that lets you pay your bills and other fees to around 400 billers and

buy load. It accommodates real-time transfer of money to more than 40 banks in the country and receiving of remittances and Paypal funds online. Cash in is made easy also through online banking and debit cards.

GCash also offers a lot of financial services such as GCredit where you can shop without a credit card, GInsure where you can get affordable insurance, GLoan where you can avail a cash loan up to P25,000.00, GSave where you can open a savings account, deposit and withdraw inside the Gcash app, and many others.

Other lifestyle services it provides include GForest where you can contribute to restoring the Philippine Forest; book movies where you can buy real-time cinema tickets, and purchase game credits with no extra charges.

2. Coins.ph

best e wallet in the philippines

Coins.ph is a mobile wallet that allows consumers to pay their bills, buy load and digital currencies (such as Bitcoin, Etherium, and XRP) and send or receive money, even without a bank account. With this app, you can also buy game credits and do online shopping.

This app is regulated by Banko Sentral ng Pilipinas (BSP). It is the first blockchain-based company in the Philippines to have a Virtual Currency Exchange and Electronic Money Issuer Licenses. With this e-wallet, users can easily convert their Pesos to other digital currencies.

It offers discounts whenever you buy a load, so you can make business with it. Users can also get rebates in paying bills. 

3. ShopeePay

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ShopeePay is Shopee’s mobile wallet providing a convenient contactless way to pay for your shopee orders. It is definitely legit as it is regulated by Banko Sentral ng Pilipinas (BSP). In this app, you can withdraw money by linking your bank account and transfer funds to other ShopeePay wallet users. Shopee also gives exclusive promos and vouchers for shoppers who opt to pay thru ShopeePay.

Aside from paying cashless for your Shopee orders, ShopeePay also allows paying bills such as internet, water, and electric bills where they also give cashback if you do so. Although this feature in Shopee is still new, users can still be confident with every transaction because of its strong and various verification methods, just like other e-wallets.

4. Lazada Wallet

best e wallet in the philippines

Lazada Wallet is an online payment method that is used by Lazada shoppers to pay for purchasing products and services. Lazada shoppers can use this Lazada Wallet with peace of mind as it is covered by Lazada’s Payment Protection.

With this e-wallet, online shopping has been more convenient and beneficial because shoppers can avail of discounts, promos, vouchers, and etc. For failed transactions, requesting refunds is also easier with this e-wallet. However, Lazada Wallet funds in non-transferable to other Lazada Wallet users, and once you have cashed in, the amount can’t be withdrawn anymore.

5. Paypal

best e wallet in the philippines

PayPal is globally known to be the fast, safe and easy online payment system for users to shop and pay, and sending and receiving money. More than 10 million stores online accept PayPal. It works as a payment processor, charging fees, for online markets, auction sites, other business transactions.

It has a Buyer Protection feature so you can shop with confidence. With their Refund Return service, return shipping will be refunded. You may also connect your debit or credit cards to your PayPal account as they collaborate with major banks in the Philippines and other countries.

Final Thoughts

The pandemic has introduced a lot of new normal activities. Cashless transactions in the Philippines continue to grow as people seek convenient and smooth transactions in the comfort of their homes.

These mobile e-wallets have similar features that are indeed very useful for everyone. Since everything has its own pros and cons, it is still our responsibility to be extra safe with all the online transactions we make. The cited best e-wallets in the country also have their own pitfalls that we may wanna be aware of. Doing more research can never be harmful. Nevertheless, these e-wallets are the best ones these days and are continuing to develop more good features and innovations.