Philippines digital payments hit $310B in 2026

Homepage > News > Business > Philippines digital payments hit $310B in 2026 The Philippines achieved its 2025 digital payments goal, the central bank revealed recently, reflecting a shift toward faster, more convenient electronic payments for Filipinos. In more recent news, the central bank said that electronic transfer systems surged past PHP 19 trillion ($307 billion) in the first seven months of 2026, following a series of interbank fee waivers. Philippines digital payments surge following interbank fees waive According to the latest data from the Philippines central bank, the Bangko Sentral ng Pilipinas (BSP), the combined transfer values of PESONet and InstaPay—the country’s electronic fund transfer services managed by the BSP’s National Retail Payment System—grew 45% to PHP 19.16 trillion ($310 billion) from January to July 2026, compared to the PHP 13.23 trillion ($214 billion) recorded during the same period in 2025. Total combined transfer volume doubled over the period, reaching 4.98 billion transactions from 1.95 billion last year, local news outlet Manila Bulletin reported. The bank said that data from PESONet alone increased by PHP 2.35 trillion ($38 billion),...