So this is like another generated coin and you are planning to held an ICO soon. I'll give some points that I can see that there's no improvement on your proposal.
Benefit:
5. Easier way to transfer money.
6. Secured
7. Easy to access
These points #5,6 and 7 are very normal points for a project to say on what they are promoting. I know its a good point to include these 3 but developing a project you should skip these things because they were given since you are doing a payment system.
Disadvantage:
1. High Amount of cash is needed for the project. (Crowd-Funding is an option)
2. Partnerships with big network companies existing in philippines (GLOBE, SMART)
You just said that there's no need of physical money but you just mentioned cash and what's with the disadvantage of partnering with those giant networks?