In a video-first market, TikTok stands out for its high click-through rates (CTRs). This is evident in TikTok’s 14% CTR in comparison to Facebook’s 9%. For businesses, TikTok is an effective platform to reach their target market.
As of 2023, 85.16 million Filipinos have access to the Internet. 76.06% own smartphones and turn to digital solutions for everyday transactions. In the same year, 58 million Filipinos use e-wallets in their day-to-day transactions. Amid this trend, TikTok has emerged as a key player in promoting the adoption of e-wallets in the country.
TikTok is evolving as an entertainment platform. It’s not just an app where dance routines and viral trends are shared; it’s a goldmine of potential for marketers to reach and engage with audiences. According to PhilStar, Filipinos spent an average of 6 days and 16 hours on the app in 2022. For e-wallet companies, the platform can be a persuasive and interactive channel to promote their services. Now, let’s delve into seven compelling TikTok videos that will make you say “YES” to e-wallets.
1. Globe Go50 Only on GCash
This simple sit-down explainer video narrates how GCash users can efficiently use the app to purchase prepaid loads. This illustrates the power of brand partnerships to boost a brand’s presence, particularly through connections with popular services. This partnership is effective because there are 84.22 million prepaid subscribers to Globe Telecom, the company behind GCash. This allows GCash to effectively reach a broader audience.
2. Maya x Mobile Legends Collab
Maya, a rising e-wallet in the Philippines, has launched exciting partnerships, including exclusive deals with Liza Soberano and Mobile Legends Bang Bang (MLBB), the country’s top-ranked mobile game. A TikTok video highlights this collaboration by showcasing three unique cards that users can acquire for 350 pesos, each featuring an MLBB character: Nana, Miya, or Zilong. These customizable cards align with Maya’s brand ethos of supporting users who want to express themselves freely. Thanks to these strategic partnerships, Maya has successfully attracted 3 million new users in the second quarter of 2023.
3. Top Up Your Beep Card With ShopeePay
ShopeePay’s TikTok video demonstrates how commuters can effortlessly load their Beep cards using the app, bypassing the long lines at ticket counters. ShopeePay, owned by one of the Philippines’ top e-commerce sites, Shopee, makes it easy to pay for MRT and LRT fares using Beep, a convenient loadable card.
In 2022, the MRT-3 and LRT-2 train lines served 98,330,683 and 31,629,242 passengers, respectively, acting as major transportation routes for commuters in the Philippines. Considering that 41% of Shopee’s customers are 18-24-year-old Filipinos, this collaboration with Beep is a strategic move, enabling ShopeePay to connect directly with this significant user base.
4. Safe Travels with GCash
This TikTok video highlights GCash’s ability to perform international transactions, just like traditional bank accounts. By demonstrating the ease and efficiency of making a transaction in Japan through the app, GCash presents itself as a reliable option for Filipino travelers and Overseas Filipino Workers (OFWs). With 7 out of 10 Filipinos planning to travel abroad for leisure as of 2022, GCash’s capability to handle international transactions could be a compelling reason for them to consider planning their trips with this e-wallet.
5. Revamped Coins.PH App
Coins.PH took an unconventional approach when launching their newly redesigned application, opting for a skit instead of a traditional launch video. This creative choice aligns with the preferences of their target audience, Millennials and Gen Z, who often shy away from formality. By incorporating a quirky approach and using trending audio from “Kardashians,” a popular reality TV show featuring Kim Kardashian, Coins.PH skillfully connects with the youth. Through this engaging skit, the company positions itself as an e-wallet that’s in tune with the tastes of the younger generation, thus appealing to what may well be the future of finance.
6. More Payment Options With DragonPay
Even after 13 years in business, DragonPay continues to adapt to current marketing trends. In a recent TikTok video, they illustrate the various payment options available for online shoppers. With the use of quirky audio, simple dance moves, and engaging motion graphics, DragonPay effectively showcases the diversity and effectiveness of its services, making it appealing to a wide audience.
7. Shop With GoTyme Bank
In this TikTok video, we follow Lance Gokongwei, the president and CEO of JG Summit Holdings Inc., one of the Philippines’ largest conglomerates, as he uses GoTyme Bank to pay for groceries. The setting of a grocery store is apt, as GoTyme specifically targets Filipinos who are financially independent or transitioning into adulthood. The video breaks down the basic steps for using GoTyme at the checkout counter, and incorporates motion graphics to expertly illustrate the simplicity and ease of the transaction.
Time to Cash Out
With an impressive 41.4 million users in 2023, TikTok is rapidly becoming a preferred platform for e-wallet companies in the Philippines. In a market where video takes precedence, crafting compelling and engaging videos on TikTok has become a top priority for marketers. From dance challenges, and audio trends, to mobile game partnerships, the potential of TikTok videos is unstoppable.
- #FinTok: A New Age of Financial Literacy
- These PH Digital Banks Are Nailing Their Online Video Ads
- What Makes These Fintech Video Campaigns So Successful?
M2.0 Communications is a video production company that offers content creation, content development, and video production services to engage your target audience. Visit our case studies page to learn more about the brands we collaborate with.