Payment methods in Philippines
The Filippino e-commerce market is worth US$20 billion and is set to grow to US$33 billion by 2027.
Market takeaways
- The Filippino e-commerce market is worth US$20 billion and is set to grow to US$33 billion by 2027.
- Over 60% of all e-commerce purchases in the Philippines are completed using a mobile device of some kind.
- Filipinos use cards in just 30% of all online transactions, paying for the rest with a variety of digital payment methods.
- Some of the most popular payment methods in the Philippines are Gcash, PayPal and a range of different bank-transfer apps.
- Each year, Filipinos buy more than US$2 billion worth of goods and services from merchants based overseas.
Population
111.6M
Online population
111.6M
B2C e-commerce
$18B
Banked population
49%
Credit card population
4%
E-commerce of total retail
7%
Payment method breakdown
- Card30%
- Cash15%
- Bank Transfer16%
- E-Wallet33%
- Other6%
Card scheme breakdown
- Visa18%
- Mastercard20%
- American Express3%
- Local schemes58%
- Other1%
Cross-border e-commerce
Cross-border shoppers
54%
Share of e-commerce
33%
Cross-border value (est.)
$2.2B
Featured payment methods in Philippines
Popular options based on coverage and prominence in this market.
QR Ph
The national QR code payment system, which is relied on for digital payments alongside digital wallets like GCash.
GCash
A popular mobile wallet that combines bank transfers, QR payments, bill payments, and financial services. Flow: User selects GCash, logs in or confirms in-app, authorizes payment via PIN/biometric, and returns with confirmation.
Featured banks in Philippines
Major institutions operating in this market.
Maybank
Kuala Lumpur, Malaysia
Maybank is Malaysia's largest bank and one of Southeast Asia's top financial groups, with a strong ASEAN franchise offering retail, SME, corporate, and Islamic banking.
CIMB Bank
Kuala Lumpur, Malaysia
CIMB Bank is Malaysia's second-largest bank and a leading regional bank across ASEAN, offering retail, SME, corporate, and Islamic banking.
BDO Unibank Philippines
Manila, Philippines
BDO Unibank is the Philippines' largest bank by total assets, offering retail, corporate, and investment banking.
Bank of the Philippine Islands (BPI)
Manila, Philippines
BPI (Bank of the Philippine Islands) is the oldest bank in Southeast Asia, offering retail, commercial, and investment banking.
Metrobank Philippines
Manila, Philippines
Metrobank (Metropolitan Bank and Trust) is the Philippines' second-largest bank, offering retail, commercial, and investment banking.
CTBC Bank
Taipei, Taiwan
CTBC Bank is Taiwan's largest private bank, known for retail, SME, and corporate banking with a growing pan-Asian footprint.
All banks in Philippines
Showing 7 of 7 banks
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