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When was the last time you rummaged around your purse or your wallet looking for coins to pay for something? For me and so many of us around the world, we're doing that a lot less

and choosing to pay in other ways. Well today on Business Daily with me, Hannah Malane, we're heading to the Philippines,

historically a country where cash was king, to explore a very specific problem.

I mean, if you want to buy something with loose chains, you have to bring an entire jar.

So it ends up getting tucked away in drawers and the like. They get stuck there. They don't

circulate and that's what I guess leads to the shortages that we're seeing in Philippines.

The Philippines, a country made up of no less than 7,641 islands, is experiencing an artificial

coin shortage. It's artificial because there are enough coins to serve the population. It's just that

people aren't using them. They're using bigger notes and in lots of cases turning to online and

mobile banking. I go to the market and I buy food, I buy supplies with house. And more and more,

I notice that vendors in the market who sell fish or vegetables,

you can pay them by a mobile wallet.

And it's really easy.

It's very convenient.

Today on Business Daily, we're going to explore why this is happening,

how it's impacting business and what's being done to try and fix it.

It's 7pm in the evening in Cazon City, the most popular city in the Philippines.

The traffic jams are building, scooters are weaving in between the cars to beat the rush home.

And some people are gathering at the side of the road waiting for a jeepney.

A jeepney's a long vehicle, like a bus, with benches inside, so lots of people can squeeze on.

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