- Digital retail payments in the Philippines accounted for 57.4% of total transaction volume in 2024, comfortably clearing the 52-54% target set under the Philippine Development Plan 2023-2028, according to the Philippines Fintech Report 2026 by FintechAlliance.Ph and Fintech News Network.
- By value, monthly digital payments reached US$136 billion, representing 59% of the country's overall retail transaction value — meaning more than half of every peso spent in the Philippines now moves through digital channels.
- Person-to-merchant payments led the shift, making up 66.4% of transaction volume with 2.2 billion transactions, followed by person-to-person transfers at 20.6%.
Digital retail payments in the Philippines accounted for 57.4% of total transaction volume in 2024, comfortably clearing the 52-54% target set under the Philippine Development Plan 2023-2028, according to the Philippines Fintech Report 2026 by FintechAlliance.Ph and Fintech News Network.
By value, monthly digital payments reached US$136 billion, representing 59% of the country's overall retail transaction value — meaning more than half of every peso spent in the Philippines now moves through digital channels.
Person-to-merchant payments led the shift, making up 66.4% of transaction volume with 2.2 billion transactions, followed by person-to-person transfers at 20.6%.
The government sector posted the highest digitalization rate among all sectors, with 97.2% of its transaction value now conducted through cash-lite channels.
This shift shows cash is no longer the default for most Filipinos' daily transactions.
As adoption keeps climbing, expect fees to keep dropping and digital-first options to become the norm rather than the exception.