Digital payments rose to 64.7 percent of total retail payments in the country in 2025, reflecting the continued shift of Filipinos toward faster and more convenient electronic payments and reaching the target range for 2023-2028.

Digital payments rose from 57.4 percent in 2024, the Bangko Sentral ng Pilipinas (BSP) said. The 2025 level compares with the 60-70 percent target in the Philippine Development Plan for 2023-2028.

According to BSP Governor Eli Remolona, Jr., “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.”

“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,” Remolona said. “That brings in more users, which makes the network more valuable for everyone in it, including consumers, businesses, banks, e-wallets, and other platforms."

Data from the BSP’s 2025 Report on the Status of Digital Payments in the Philippines show that the continued growth of digital payments in the country was supported by a 69.4-percent increase in digital payment accounts and a 36.3-percent rise in merchant locations or business outlets that accept digital payments.

Likewise, QR Ph transactions exceeded debit and credit card transactions for the first time in 2025, reflecting a growing preference for interoperable, account-based payments. A total of 2.47 billion QR Ph transactions worth ₱1.16 trillion were processed during the year.

The BSP also noted that PESONet transactions have surpassed check payments, reflecting the growing use of electronic fund transfers for business and personal transactions.

The BSP expects the momentum for digital payments to continue, aided by policies meant to make electronic payments more accessible and affordable. For instance, under Circular No. 1238, the BSP pushes for reasonable transfer fees, requiring that fees charged for transferring funds from one bank or e-wallet provider to a different financial institution should not be materially different from the fees charged for transfers within the same institution. Bangko Sentral ng Pilipinas