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Digital payments transaction value Philippines 2017-2027

Published by Statista Research Department, Aug 11, 2022
The transaction value of the Digital Payments industry in the Philippines was estimated at approximately 25.47 billion U.S. dollars in 2021, reflecting an increase from the previous year. The transaction value of digital payments in the Philippines was forecast to reach an estimated 55.74 billion U.S. dollars in 2027, highlighting the growing adaption of this alternative financial service among Filipinos. Notably, the revenue of the Digital Payments industry was continuously increasing over the past years.

The Digital Payments market segment is led by consumer transactions and includes payments for products and services which are made over the Internet as well as mobile payments at point of sale (POS) via smartphone applications and cross-border money transfers made over the internet (digital remittances). The following are not included in this segment: transactions between businesses (business to business payments) and payment transactions at the point of sale where mobile card readers (terminals) are used.

Transaction value of digital payments in the Philippines from 2017 to 2021, with forecasts until 2027 (in billion U.S. dollars)

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Special properties

All figures are estimates.

Supplementary notes

*Forecast.

This includes the online processed payment transactions

  • mobile pos payments processed via smart devices at point of sale
  • digital consumer commerce transactions (e.g. credit card, online payment providers)
  • online cross-border payments and remittance sending
  • money transfers processed by online-pure players (e.g. transferwise)
  • transaction value equals money transfers out of the selected region

    • And excludes the mpos solutions (dongle payments) for card payments or mobile card readers
  • business to business payments
  • electronic banking (ebanking)
  • provision fees from payment providers
  • payments via social networks
  • domestic payments and bill splitting services
  • cross-border payments via traditional service providers (banks, post offices & western union, moneygram)

    • A detailed methodology can be found in the Statista Digital Market Outlook.

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    Overview

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    Investments

    6

    Digital payment

    6

    Cryptocurrency

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    Embedded finance

    4

    BNPL

    3

    Digital remittance

    3

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