The Central Bank of the Philippines reported that digital payments rose to 64.7 percent of total retail payments in 2025 from 57.4 percent in 2024, reaching the Philippine Development Plan’s 60 percent to 70 percent target range for 2023-2028. Growth was supported by a 69.4 percent increase in digital payment accounts and a 36.3 percent rise in merchant locations accepting digital payments. QR Ph transactions exceeded debit and credit card transactions for the first time, with 2.47 billion transactions worth PHP 1.16 trillion processed during 2025. PESONet transactions also surpassed check payments. The central bank expects further growth, supported by policies including a requirement that fees for transfers between different banks or e-wallet providers should not be materially different from fees for transfers within the same institution.
2026-08-18Central Bank of the Philippines
Central Bank of the Philippines reports digital payments reached 64.7 percent of retail payments in 2025
Digital payments increased to 64.7 percent of Philippine retail payments in 2025, reaching the national target range for 2023-2028. QR Ph transactions exceeded card transactions for the first time, while PESONet transfers surpassed check payments.