- Cash is losing its grip on everyday spending in the Philippines, with digital payments accounting for 64.7% of retail transactions by volume in 2025, according to the Bangko Sentral ng Pilipinas (BSP).
- The figure has more than tripled in percentage points from 20.1% in 2020, reflecting how quickly Filipinos have shifted toward banks, e-wallets, QR payments, and other electronic channels for everyday transactions.
- QR Ph is also gaining ground, with transactions surpassing debit and credit card transactions for the first time in 2025, reaching 2.47 billion transactions worth ₱1.16 trillion during the year.
Cash is losing its grip on everyday spending in the Philippines, with digital payments accounting for 64.7% of retail transactions by volume in 2025, according to the Bangko Sentral ng Pilipinas (BSP).
The figure has more than tripled in percentage points from 20.1% in 2020, reflecting how quickly Filipinos have shifted toward banks, e-wallets, QR payments, and other electronic channels for everyday transactions.
QR Ph is also gaining ground, with transactions surpassing debit and credit card transactions for the first time in 2025, reaching 2.47 billion transactions worth ₱1.16 trillion during the year.
More consumers and businesses are joining the digital payment ecosystem, with digital payment accounts increasing by 69.4% and merchant locations accepting digital payments rising by 36.3%.
The BSP said interoperability has helped drive adoption by allowing consumers, merchants, banks, and e-wallets to transact across different payment platforms.
Lower costs could further encourage the shift, with the central bank supporting moves by banks to reduce or waive digital transfer fees to make electronic payments more affordable for households and small businesses.
Cash is unlikely to disappear anytime soon, particularly for Filipinos who have limited access to digital financial services, but the numbers show how dramatically payment habits have changed in just a few years.