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Philippines

Philippines

Philippines
Top e-commerce industries
23.8%
Electronics
18.7%
Hobby & Leisure
19.2%
Fashion
Furniture & Homeware
Care Products
DIY
Grocery
Manila
Capital
118.3M
Population
+8
Time Zone (GMT)
PHP (₱)
Currency
Philippine peso
$292.1B
Transactions
value in 2028
28.5%
CAGR
of Digital Payments
during 2025-2028

Popularity of e-commerce payment methods

Bank Transfer
16%
Buy Now Pay Later
1%
Cash-in
14%
Credit Cards
16%
Debit Cards & Prepaid Cards
16%
E-wallet
34%
Mobile Money
34%
Others
1%

Extend your reach

GCash is a popular e-wallet in the Philippines which is widely used by customers to send or receive funds, pay bills and shop online.

Method
GCash
LPM Market Share
63%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
76M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

GCash has a user-friendly mobile app that's accessible to most Filipinos with smartphones

GCash is accepted at a vast network of merchants (400+ billers), from major retailers and restaurants to smaller businesses and even street vendors

GCash allows people without traditional bank accounts to participate in the digital economy, making financial services accessible to a wider population. In partnership with CIMB allow to open a savings account with no initial deposit

GCash enables users to stretch their budgets with GCredit based on users’ GScore

GrabPay is a digital wallet offered by Grab.  GrabPay simplifies everyday transactions by seamlessly integrating payments into Grab’s ecosystem, allowing users to make cashless payments for Grab services (e.g., rides, food delivery), as well as for online and in-store purchases with other third-party businesses

Method
GrabPay
LPM Market Share
15%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
100M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

Broad adoption due to convenience and low cost of services, including embedded payments of GrabPay

Embedded in-app services including everyday use cases like transportation, food delivery, and online shopping

Rewards and promotions within the app, e.g. users may earn GrabRewards pointsGrab wallet can be topped up through grab drivers during a ride

Maya is a popular e-wallet. It offers a widely used payment solution with a user-friendly payment process in the Philippines.

Method
Maya
LPM Market Share
37%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
44M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

Maya offers digital payments, money transfers, bill payments, investments, and online shopping—no cash needed

Maya is widely accepted by various merchants, online platforms, and establishments in the Philippines

As a licensed bank,  Maya combines digital convenience with the security of regulated financial services

Maya offers a stunning 14% interest p.a., much higher than market average of 4%

InstaPay QR is a key feature of InstaPay, a real-time electronic fund transfer service in the Philippines. This system streamlines bank transfers between banks and e-wallets through a standardized QR code. By simplifying transactions, InstaPay QR delivers a seamless payment experience for both businesses and consumers, driving convenience and fostering greater financial inclusion across the country

Method
InstaPay (QR Ph)
LPM Market Share
16%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
19M
Disbursements
Yes
Yes
Chargebacks
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

InstaPay provides a simplified address “IPA” for transfers instead of using account number, making it ideal for urgent transactions

Anyone with a Peso bank account or e-wallet is eligible to use InstaPay

The Central Bank of the Philippines (Bangko Sentral ng Pilipinas) is actively promoting InstaPay as a key step toward building a more inclusive and cashless society. Its efforts have made InstaPay an essential tool for enabling seamless, real-time digital transactions for millions across the country

Pay by Bank (BPI, UBP, BDO, Metrobank, LandBank, RCBC) or Virtual Accounts in the Philippines are ad-hoc bank account details to receive bank payments to real bank accounts without sharing the underlying bank details. Each bank has their own system of creating and managing VAs.

Method
Pay by Bank (PH)
LPM Market Share
33%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring

Reasons for Popularity

Personalized, streamlined, and innovative financial services, offering customers a more convenient and efficient experience

Collaboration and partnerships between traditional banks and fintech firms, fostering a more competitive and diverse financial ecosystem

Access to a wider range of financial products

Government and regulatory support for open banking initiatives

Coins.ph is a versatile digital wallet and cryptocurrency exchange widely used in the Philippines. It allows individuals—from beginners to seasoned traders—to buy, send, and receive cryptocurrencies, pay bills, and purchase mobile load seamlessly.

Method
Coins.ph
LPM Market Share
n/a
Payments
Yes
Refunds
No - refunds not supported
Type
Others
Local Card Scheme
Users
18M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

Accessibility: The app targets the unbanked demographic, allowing users without bank accounts to access essential financial services directly from their smartphones

Comprehensive Services: Coins.ph offers a wide range of functionalities, including cryptocurrency management (supporting over 90 cryptocurrencies), bill payments for more than 120 types of bills, cash-in and cash-out services through an extensive network of over 33,000 partner locations nationwide

Regulatory Compliance: Coins.ph is licensed by the Bangko Sentral ng Pilipinas (BSP) as both a Virtual Currency and Electronic Money Issuer

Innovative Technology: Utilizing blockchain technology allows for instant cross-border transactions and contributes to the overall efficiency of the service