Rebuilding the Economy in the New Normal

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It is undeniable that the novel coronavirus effected great damage on economic activities, causing a decline on a global scale. One of the most affected sectors is the tourism industry; with everyone encouraged to stay indoors, travel will remain on a low for quite a while. Meanwhile, tech industries are also one of the firsts to be affected as corporate offices and factories have ceased operations in locked down and community quarantined areas. The retail industry is also devastated by the outbreak and had to close a number of stores. The pandemic had also mitigated company expansion plans, affecting the construction industry as well.

The devastating impact of the novel coronavirus is one that will be felt for a long time, indubitably. However, the internet is now seen as a bridge to conducting safer economic activities. In time, Ecommerce will surge as consumers continue to avoid crowded and limited markets. The foreseen trend is for merchants to take advantage of the increasing digital traffic by using online platforms to sell their products and services, putting digital payment and remittance services on demand.

Given such premise, it is the duty of businesses to respond to these changes to help protect consumers while rebuilding the economy. ATC strives as a crypto and remittance provider with solutions to help ease the challenges in the new normal way of living.

For example, in the ATC Remittance App, the users may cash-in through bank transfers to enable cross-border payments, remittances and utilities payments which will be very convenient and less prolonged queueing in this time of crisis. Cash Acceptance Machines, or Cash-In Machines, will soon be launched in strategic places in the metro and other parts of Central Luzon. Aside from providing more accessible options for recharge, this also helps lessen the need for human contact, which makes transacting safer for the customers.

With hope in the development of a healthier society, ATC also eyes preparation for more economic activities in the safer future. ATC also offers various QR code payment schemes to aid restaurants, retail merchants, and other customer-facing establishments in accepting mobile payments. Through partnership with WeChat Pay, ATC strives to onboard more merchants to push safer in-store payment transactions.

ATC, through its partnership with local banks, offers prepaid cards, also known as cash cards, to lessen the need to bring and handle cash. With more cashless payment options, ATC strives to lessen the transmission of diseases from cash-based transactions.

Many businesses and consumers who may have been hesitant to do online payments and remittances before the coronavirus outbreak are now using it as their primary option. This pandemic continues to trigger a change in behavior, aiding in a movement forward towards what we now call the new normal.

This is a press release sent to BitPinas.

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