The phone could also contain or access all the payment details of an account in the same way as the email details can today be accessed using a smart phone. Mobile phones can also introduce more convenience to the payment process. The phone could automatically interact with payment terminals using near-field communication capabilities (RFID, Radio Frequency Identification communication).
The pandemic has forced us to take the digital leap. I have to say that we Filipinos, resilient as we are, have embraced technology, innovation, and digitalization. The numbers bear this out. In the financial sector, over four million digital accounts were opened at the onset of the community quarantine to facilitate digital payments and e-commerce transactions.