Digital payments accounted for 64.7% of retail payments in the Philippines in 2025, up from 57.4% in 2024, according to the Bangko Sentral ng Pilipinas (BSP).
The country has now reached the government’s target of having digital transactions make up 60% to 70% of retail payments under the Philippine Development Plan for 2023-2028.
“The BSP continues to work closely with industry and government partners to expand digital payments to benefit more Filipinos and the economy as a whole,” said Bangko Sentral Governor Eli Remolona Jr. “A lot of the growth is due to our insistence on interoperability, ensuring that a growing number of businesses and service providers are on one system.”
Interoperability allows consumers to send and receive money across participating banks, e-wallets, and other payment platforms. As more people and businesses join the system, digital payments become more useful to everyone using it.
The BSP’s 2025 Report on the Status of Digital Payments in the Philippines showed a 69.4% increase in digital payment accounts. The number of stores and other business outlets accepting digital payments also rose by 36.3%.
QR Ph transactions overtook debit and credit card payments for the first time in 2025, showing that more Filipinos are using QR codes linked directly to bank or e-wallet accounts.
The country processed 2.47 billion QR Ph transactions worth ₱1.16 trillion during the year.
PESONet transactions also exceeded check payments as more businesses and consumers used electronic fund transfers for large or scheduled payments.
The BSP expects digital payment use to continue growing as it introduces policies aimed at making electronic transfers more affordable and accessible.
Under a BSP circular, fees for sending money to another bank or e-wallet should not be significantly different from fees charged for transfers within the same financial institution. The policy is intended to prevent higher fees from discouraging customers from transferring money across different providers.