The Philippines successfully surpassed its digital finance goals as 64.69% of all retail payment transactions were conducted digitally in 2025, according to an August 2026 report from the Bangko Sentral ng Pilipinas. Digital methods accounted for 53.32% of total payment value in 2025, a slight drop from 59.98% recorded in 2024. Out of 6.09 billion total transactions during the year, digital channels handled 3.94 billion individual payments. Central bank Governor Eli M. Remolona, Jr. attributed this substantial growth to the regulator’s focus on system interoperability, which has integrated a broader range of merchants and service providers into a single interconnected network.

Merchant purchases served as the primary growth engine for digital momentum in 2025, making up 74.31% of all electronic transactions, largely spurred by the rapid adoption of QR code payment systems. Peer-to-peer remittances represented 17.7% of electronic volume, while business-to-business supplier payments accounted for 3.67%. To build on this traction, the central bank recently introduced three new payment capabilities, including automated direct debit collections for recurring bills and a request-for-funds feature across banks and e-wallets. Furthermore, regulatory encouragement to lower interbank fees led several major financial institutions to temporarily waive transfer charges between late June and July.

Click here for more on Banking