Transaction value of InstaPay Philippines 2019-2021

Published by Statista Research Department, Aug 9, 2022
The value of InstaPay transactions in the Philippines jumped by roughly 400 percent between 2019 and 2020. From a total transaction value of 259 billion Philippine pesos, this figure rose to roughly 1.24 trillion Philippine pesos in 2020 at the onset of the coronavirus pandemic.

InstaPay is an electronic fund transfer service that allows customers to transfer funds instantly to participating banks, mobile wallet operators, or electronic money issuers.

Total value of InstaPay transactions in the Philippines from 2019 to 2021 (in trillion Philippine pesos)

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Release date

December 2021

Region

Philippines

Survey time period

2019 to 2021

Supplementary notes

*Data for 2021 only covers first half of the year.
One Philippine peso is equal to 0.018 U.S. dollars and 0.018 euros as of August 2022.
Figures have been rounded.

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Statistics on Digital payments in the Philippines

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4

Key indicators

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Electronic money

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Electronic fund transfer

4

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QR payments

3

Other payment methods

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Consumer behavior

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Topics

Digital payments in the PhilippinesBanking in the PhilippinesCoronavirus (COVID-19) pandemic in the PhilippinesE-commerce in the PhilippinesSocial media in the Philippines
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